Settlement Date Statement Clause Samples
The Settlement Date Statement clause defines the requirement for providing a formal statement detailing the financial transactions and obligations that are to be settled on a specific date. In practice, this clause ensures that all parties receive a clear summary of amounts due, payment instructions, and any adjustments or reconciliations related to the settlement. By mandating the delivery of this statement, the clause promotes transparency and accuracy in the settlement process, reducing the risk of disputes or misunderstandings regarding payments.
Settlement Date Statement. Purchaser shall use its reasonable best efforts to deliver to Seller the Settlement Date Statement as soon as possible but at least five (5) Business Days prior to the Settlement Date. Seller shall have the right to review the Settlement Date Statement, together with any supporting documents reasonably requested by Seller to verify the accuracy and completeness of the valuations set forth therein and the Settlement Date Statement shall be revised by Purchaser to reflect any corrections agreed to by Purchaser and Seller.
Settlement Date Statement. At least thirty (30) days prior to the Settlement Date, Purchaser shall deliver to FNANB a statement (the "Settlement Date Statement") setting forth (i) the Purchase Price, calculated as of the Cut-Off Time, along with applicable supporting calculations for the Accrued Interest and (ii) the aggregate amount of any Accounts-Based Adjustments as to which Purchaser has Knowledge as of the date of such Settlement Date Statement. Purchaser agrees that it shall provide to FNANB mutually acceptable supporting documentation in a mutually agreed format and accompanied by a file layout relied upon in determining the Purchase Price and the aggregate amount of any Accounts-Based Adjustments set forth in the Settlement Date Statement. Purchaser shall deliver, or cause to be delivered, to FNANB the Final Closing Tape no later than thirty (30) days prior to the Settlement Date.
Settlement Date Statement. 11 3.6 Payments on the Settlement Date. ......................
Settlement Date Statement. Seller shall deliver to Purchaser the Settlement Date Statement along with supporting calculations for the Accrued Interest, Unearned Annual Fee and Cardholder rewards liability, and the masterfile extension record, at least ten (10) Business Days prior to the Settlement Date. Purchaser shall have the right to review the Settlement Date Statement, together with any supporting documents reasonably requested by Purchaser to verify the accuracy and completeness of the valuations set forth therein, and the Settlement Date Statement shall be revised by Seller to reflect any corrections agreed to by Purchaser and Seller.