Payments and Settlement Clause Samples
Payments and Settlement. 1. The costs of payment transactions shall be borne by the buyer.
2. The buyer shall only be entitled to a retention right and a right to offset counterclaims inasmuch as his rights are undisputed or have been determined finally and conclusively.
3. If the buyer is in default of payment, we may charge interest in the amount of nine percent over the base interest rate (§ 288 BGB [German Civil Code]), unless lower damages are proved to us by the buyer. In addition, we may demand the payment of a lump sum in the amount of € 40. We reserve the right to assert further damages, in particular those that arise as a result of extra expenses in connection with exchange rate differences and securities.
Payments and Settlement. Payments from Customer to ED will be due monthly before the start of each calendar month. Each monthly payment will include the Hosting Fee payment for the next calendar month. Customer will provide a written report of Gross Income. All payments will be made by wire transfer of USD, unless the parties mutually agree to an alternative payment method (e.g. a transfer of USDC or USDT), subject to compliance with all applicable laws, rules and regulations.
Payments and Settlement. User agrees to pay ▇▇▇▇▇▇▇▇ University all user fees and estimated costs in full no later than 21 days prior to the event. Within 30 days after completion of the event, Millikin will submit a complete statement of costs to User along with a check for any refundable amounts, if any, or, where appropriate, invoice User for any charges incurred by User in excess of deposits and payments. All invoices are due upon receipt. User also agrees to pay attorneys fees, collection agency fees, and other costs and expenses incurred by Millikin in collecting past due amounts.
Payments and Settlement. 3.1. Once accepted for clearing, this Agreement shall be novated (replaced) with two contracts on the same economic terms between each Party and Clearing House, which shall be governed by the latter’s clearing terms and conditions (“Clearing Rules”). In case of any discrepancies between this Agreement and Clearing Rules, the latter shall prevail.
3.2. Each Party agrees to make payments under this Agreement according to Clearing Rules. All amounts shall be calculated by Clearing House based on Market Prices supplied by Data Provider through SteelHedge or Clearing Member Bank under respective licensing agreements. All payments shall be made through Clearing Member Bank.
3.3. Each Party shall pay to Clearing House an initial security deposit (“Initial Margin”) indicated in Annex 1, which shall be held by Clearing House in trust until the completion of Settlement Month and settlement per Clause 3.7.
3.4. Each time Market Price rises above Price Cap by a variation indicated in Annex 1 (“Market Price Variation”), Selling Party shall pay to Clearing House an (additional) security deposit (“Variation Margin”) calculated as Market Price Variation multiplied by Quantity.
3.5. Each time Market Price falls below Price Floor by Market Price Variation, Buying Party shall pay to Clearing House Variation Margin calculated as Market Price Variation multiplied by Quantity.
3.6. Clearing House shall hold Variation Margins in trust until the completion of Settlement Month and the calculation of Settlement Amount. The owing Party shall pay each Variation Margin after a corresponding request has been made by Clearing House through Clearing Member Bank.
3.7. At the completion of Settlement Month, Clearing House shall (a) calculate and pay to the owed Party Settlement Amount, if any, and (b) refund to each Party all security deposits that remain in trust after such payment. If the sum of security deposits paid by the owing Party is inferior to Settlement Amount, the owing Party shall immediately pay the resulting shortfall to Clearing House.
3.8. Each Party is solely responsible for Clearing Fees indicated in Annex 1 and taxes that may be payable in its country in relation to this Agreement.
3.9. If Data Provider discontinues reporting Market Prices before the completion of Settlement Month for any reason, Parties shall select another Price Index, or a combination of Price Indexes, reported by Data Provider or another price reporting agency in the SteelHedge network and offering ...
Payments and Settlement. User agrees to pay ▇▇▇▇▇▇▇▇ University all user fees and estimated costs in full no later than 21 days prior to the event. Within 30 days after completion of the event, ▇▇▇▇▇▇▇▇ will submit a complete statement of costs to User along with a check for any refundable amounts, if any, or, where appropriate, invoice User for any charges incurred by User in excess of deposits and payments. All invoices are due upon receipt. User also agrees to pay attorneys fees, collection agency fees, and other costs and expenses incurred by ▇▇▇▇▇▇▇▇ in collecting past due amounts.
Payments and Settlement