Payments Administration Sample Clauses
The Payments Administration clause outlines the procedures and responsibilities related to the management and processing of payments under an agreement. It typically specifies how invoices are to be submitted, the timing and method of payments, and the roles of any parties involved in administering payment flows, such as escrow agents or third-party processors. By clearly defining these processes, the clause helps ensure timely and accurate payments, reduces the risk of disputes over payment terms, and streamlines financial administration between the parties.
Payments Administration. Any amounts payable hereunder shall be due and payable without set-off, deduction, or counterclaim, except as otherwise provided herein. The Loan, and all repayments and reductions of principal and interest, if any, shall be evidenced by notations made by Holder in its books and records regarding the date and amount of each payment or reduction of principal and interest made by Maker with respect thereto; PROVIDED, HOWEVER, that the failure by Holder to make such notations shall not limit or otherwise diminish the obligations of Maker with respect to the repayments or reductions of principal or payments of interest, if any, on the Loan. The aggregate unpaid amount of the Loan set forth on the books and records of Holder shall be presumptive evidence of the principal amount owing an unpaid hereunder.
Payments Administration