Payments Received by Client Sample Clauses

Payments Received by Client. Client warrants and represents that at the time Purchaser purchases an Accepted Purchase Order, no payment will have been made by the customer named therein, either to or for the benefit of the Client, with respect to such Purchase Order. In the event that Client receives a payment that is the property of Purchaser, Client shall be deemed to have received same, in trust for Purchaser, and Client shall immediately turn over such payment, in kind, to Purchaser. In the event that Client receives a payment which is comprised of moneys belonging partially to Client and partially to Purchaser, Client shall immediately turn over said payment, in its original form/entirety, duly endorsed over, to Purchaser, and Purchaser shall, upon clearance by Purchaser’ bank of the payment instrument, forward a check to Client for Client’s portion of the payment.
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Payments Received by Client. Client warrants and represents that at the time Factor purchases an Account, no payment will have been made by the Customer named therein, either to or for the benefit of the Client. In the event that Client receives a payment which is the property of Factor, Client shall be deemed to have received same in trust for Factor, and Client shall immediately turn over such payment to Factor. In the event that Client receives a payment which is comprised of monies belonging partially to Client and partially to Factor, Client shall immediately turn over said payment, in its original form, duly endorsed over, to Factor, and Factor shall, upon clearance by Factor's bank of the payment instrument, forward a check to Client for Client's portion of the payment.
Sample 1
Payments Received by Client. Client warrants and represents that at the time Crossroads purchases an Accepted Purchase Order, no payment will have been made by the customer named therein, either to or for the benefit of the Client, with respect to such Purchase Order. In the event that Client receives a payment that is the property of Crossroads, Client shall be deemed to have received same, in trust for Crossroads, and Client shall immediately turn over such payment, in kind, to Crossroads. In the event that Client receives a payment which is comprised of moneys belonging partially to Client and partially to Crossroads, Client shall immediately turn over said payment, in its original form/entirety, duly endorsed over, to Crossroads, and Crossroads shall, upon clearance by Crossroads’ bank of the payment instrument, forward, subject to the provisions of Section 8 hereof, a check to Client for Client’s portion of the payment.
Sample 1
Payments Received by Client. Client warrants and represents that at the time Funder purchases an Accepted Purchase Order, no payment will have been made by the Customer named therein, either to or for the benefit of the Client, with respect to such Accepted Purchase Order. In the event that Client receives a payment which is the property of Funder, Client shall be deemed to have received same in trust for Funder, and Client shall immediately turn over such payment to Funder. In the event that Client receives a payment which is comprised of moneys belonging partially to Client and partially to Funder, Client shall immediately turn over said payment, in its original form, duly endorsed over, to Funder, and Funder shall, upon clearance by Funder's bank of the payment instrument, forward a check to Client for Client's portion of the payment. If Client fails to turn over to Funder any checks which are the property of Funder or other form of payment which is the property of Funder received by it or in the event the Client deposits any such checks into its own account, this shall be an event of default of this contract, and in addition the Client shall pay Funder the entire Invoice Amount related to such payment at once plus liquidated damages equal to twenty percent (20%) of the amount so deposited. The parties agree to liquidate damages by reason of the fact that the damages that are to be expected as a result of such deposit are uncertain in amount and/or difficult to prove. The parties therefore intend to liquidate damages resulting from such deposit in advance and agree that the amount stipulated is reasonable as damages for the deposit by Client of such payments. Nothing herein shall serve to limit Funder's remedies for the continued wrongful retention by Client of Funder's property in the event that Client fails to immediately pay to Funder any monies received by it.
Sample 1
Payments Received by Client. Should Client receive payment of all or any portion of an Account sold pursuant to this Agreement, Client shall immediately notify ICC of the receipt of the payment, hold said payment in trust for ICC separate and apart from Client's own property and funds, and shall deliver said payment to ICC without delay in the identical form in which received if possible. Should Client receive a check or other instrument of payment representing payment of amounts due to both ICC and Client, Client shall surrender said check or payment instrument to ICC and ICC shall refund Client's portion to Client. In the event any merchandise, the sale of which gave rise to an Account purchased by ICC, is returned to or repossessed by Client, such merchandise shall be held by Client in trust for ICC, separate and apart from Client's own property and subject to ICC's sole direction and control.
Sample 1

Related to Payments Received by Client

  • Payments Received The Seller shall apply all payments received in respect of the Mortgage Loans during the Interim Servicing Period and after the Transfer Date in accordance with the Servicing Transfer Instructions.

  • Payments Received Under the Cash Management Agreement Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower’s obligations with respect to the payment of the Monthly Debt Service Payment Amount and amounts required to be deposited into the Reserve Funds, if any, shall be deemed satisfied to the extent sufficient amounts are deposited in the Cash Management Account to satisfy such obligations pursuant to this Agreement on the dates each such payment is required, regardless of whether any of such amounts are so applied by Lender.

  • Collections Payment Processing Remittance (a) Collection Efforts, Policies, Procedures.

  • Agreement to Terms of Subordination; Payments from Monies Received Only (a) Each Trustee hereby (i) acknowledges and agrees to the terms of subordination and distribution set forth in this Agreement in respect of each Class of Certificates and (ii) agrees to enforce such provisions and cause all payments in respect of the Equipment Notes held by the Subordination Agent and the Liquidity Facilities to be applied in accordance with the terms of this Agreement. In addition, each Trustee hereby agrees to cause the Equipment Notes purchased by the related Trust to be registered in the name of the Subordination Agent or its nominee, as agent and trustee for such Trustee, to be held in trust by the Subordination Agent solely for the purpose of facilitating the enforcement of the subordination and other provisions of this Agreement.

  • Collections Received Each of the SPV and the Master Servicer shall hold in trust, and deposit, immediately, but in any event not later than one Business Day of its receipt thereof, to a Blocked Account or, if required by Section 2.9, to the Collection Account, all Collections received by it from time to time.

  • Payments From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

  • Payments Due on Non-Business Days Anything in this Agreement or the Notes to the contrary notwithstanding (but without limiting the requirement in Section 8.4 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if the maturity date of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.

  • Third Party Payments Neither the Advisor nor any of its officers, directors, employees or stockholders shall receive any commissions, compensation, remuneration or payments whatsoever from any broker with which the Company carries an account for transactions executed in the Company’s account. The parties acknowledge that a familial relationship of any of the foregoing persons may receive floor brokerage commissions in respect of trades effected pursuant to the Advisor’s Trading Approach on behalf of the Company, which payment shall not violate the preceding sentence.

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