Cleared Payment definition

Cleared Payment means, in relation to a payment of moneys under this PDS and the Instalment Receipts Deed, that Macquarie or the Security Trustee, as the case may be, has received the moneys in immediately available funds, so that no further confirmation is required to vest the moneys in the recipient and so that the property of the recipient in the funds cannot be revoked or disputed by any person.
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Examples of Cleared Payment in a sentence

  • All payments to be made to the Lender under any Related Document shall, except to the extent otherwise provided in any relevant Security Documents, be made by automatic payment authority (or by Same Day Cleared Payment if it relates to a payment referred to in clause 5 of this Agreement) in cleared funds prior to 3.00pm on the day on which payment is due and shall be made to the bank account recorded in the First Schedule or any other bank account nominated by the Lender in writing.

Related to Cleared Payment

  • Required Payment shall have the meaning assigned such term in Section 4.04.

  • Required Payments means each of the items described in (i) through (xii) of Section 3.4 of the Indenture.

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Insured Payment means (a) as of any Distribution Date, any Deficiency Amount and (b) any Preference Amount.