Payment transfer Clause Samples
The Payment Transfer clause defines the procedures and requirements for transferring funds between parties under the agreement. It typically specifies the method of payment, such as wire transfer or electronic funds transfer, the timing of payments, and any necessary banking details or conditions that must be met before a transfer is initiated. By clearly outlining how and when payments are to be made, this clause ensures both parties understand their financial obligations and helps prevent disputes or delays related to payment processing.
Payment transfer a type of Payment operation when either
(1) money is transferred to payswix account of the Client at the initiative of the Payer (Electronic money is issued to the Client), or (2) money is transferred from payswix account of the Client to the payment account of Recipient (Electronic money is redeemed).
Payment transfer. ACCOUNTS (a)
Payment transfer. With respect to each Loan sold, Correspondent shall pay E-LOAN the amount set forth on Exhibit E ("Purchase Price"), in the manner, and by the time limits set forth in Exhibit E. The Purchase Price shall be the principal amount of the Loan, plus such additional compensation as the parties agree. Upon receipt by E-LOAN of the portion of the Purchase Price representing the principal balance of the Loan ("Transfer Date"), the Loan, and all rights, benefits, payments, proceeds and obligations arising from or in connection with the Loan, together with any lien or security interest in the vehicle serving as collateral for the Loan, shall vest in Correspondent. Until the Transfer Date, E-LOAN shall own and control the application and all documentation relating to a prospective Loan to be sold. All Loans sold under this Agreement shall be sold without recourse, on a servicing released basis. With respect to each Loan as to which E-LOAN has not delivered to Correspondent all Required Documents prior to expiration of the Confirmation related to such Loan, Correspondent shall have no obligation to purchase the subject Loan.
Payment transfer a payment service when Funds are transferred / E-money is redeemed to the Payment Account at the initiative of the Payer.
Payment transfer. All payments under this Agreement shall be made by deposit of Dollars in the requisite amount to the bank account of the receiving Party specified in Schedule 7 or such other account as the receiving Party may from time to time designate by notice to the other.
Payment transfer. 2.1. Within forty-eight (48) hours of the publication of the TWAP Price under Clause 1.2 above (the “Payment Window”), the Purchaser shall remit to the Seller the Purchase Price by bank wire in immediately available funds to the Seller’s bank account set forth in Schedule I below.
2.2. Within forty-eight (48) hours after the Seller confirms receipt of the full Purchase Price (the “Token Transfer Window”), the Seller shall initiate the Ethereum mainnet transaction(s) to transfer the Tokens to the Purchaser’s Ethereum mainnet address at [***].
2.3. The Tokens shall be deemed irrevocably delivered, and all right, title, and interest in or to the Tokens shall be deemed passed, to the Purchaser upon the first block confirmation of the transfer transaction(s) on Ethereum mainnet.
2.4. If the Purchaser fails to remit the Purchase Price to the Seller within the Payment Window, the Seller may terminate this Agreement with immediate effect.
2.5. If the Seller fails to initiate the Ethereum mainnet transaction(s) to transfer the Tokens within the Token Transfer Window, the Purchaser may terminate this Agreement with immediate effect and the Seller shall promptly return the Purchase Price.
Payment transfer. With respect to each Loan sold, Correspondent shall pay E-LOAN the amount set forth on Exhibit E ("Purchase Price"), in the manner, and by the time limits set forth in Exhibit E. The Purchase Price shall be the principal amount of the Loan, plus such additional compensation as the parties agree. Such additional compensation shall be on a per funded/boarded Loan basis and shall be aggregately paid on the 10th day of the month for the prior month's Loan activity. Upon receipt by E-LOAN of the portion of the Purchase Price representing the principal balance of the Loan ("Transfer Date"), the Loan, and all rights, benefits, payments, proceeds and obligations arising from or in connection with the Loan, together with any lien or security interest in the vehicle serving as collateral for the Loan, shall vest in Correspondent. Until the Transfer Date, E-LOAN shall own and control the application and all documentation relating to a prospective Loan to be sold. All Loans sold under this Agreement shall be sold without recourse, on a servicing released basis. With respect to each Loan as to which E-LOAN has not delivered to Correspondent all Required Documents,, Correspondent shall have no obligation to purchase the subject Loan.
Payment transfer. With respect to each Loan sold, Correspondent shall pay E-LOAN the amount set forth on Exhibit E ("Purchase Price"), in the manner, and by the time limits set forth in Exhibit E. Upon receipt by E-LOAN of the portion of the Purchase Price representing the principal balance of the Loan ("Transfer Date"), the Loan, and all rights, benefits, payments, proceeds and obligations arising from or in connection with the Loan, together with any lien or security interest in the vehicle serving as collateral for the Loan, shall vest in Correspondent. Until the Transfer Date, E-LOAN shall own and control the application and all documentation relating to a prospective Loan to be sold. All Loans sold under this Agreement shall be sold without recourse, on a servicing released basis. With respect to each Loan as to which E-LOAN has not delivered to Correspondent all Required Documents prior to expiration of the Confirmation related to such Loan, Correspondent shall have no obligation to purchase the subject Loan.
Payment transfer. SmartAge shall be responsible for all Payment ---------------- Processing through the Buying Services pursuant to Section 3.5 (e). SmartAge agrees that funds deposited into one (1) or more SmartAge bank accounts as a direct result of Payment Processing shall be transferred to Excite on a monthly basis via wire transfer, check, or through other means as mutually agreed, provided however, that each such transfer of funds shall be net of the following:
(1) The revenue share fee due SmartAge pursuant to Section 3.8 (c).
(2) Non-collectable, incorrect, unauthorized, or fraudulent sales which result in SmartAge reimbursing funds to a third party.
(3) Credit card processing related charges directly attributable to Payment Processing and incurred by SmartAge, up to maximum of ***% per transfer of funds.
Payment transfer a payment transaction wherein funds are transferred to a payment account of the Recipient under the initiative of the Payer.