Electronic Transfer definition
Examples of Electronic Transfer in a sentence
Exclusively in the event provided for in Clause 8.4, and in addition to the measures described in subparagraphs (a) and (b), the Buyer may require the Seller that causes the Closing not to occur to pay a non-compensatory fine equivalent to 20% (twenty percent) of the Purchase Price, to be paid within 5 (five) Business Days from receipt of the corresponding notification, by Electronic Transfer to the indicated current account.
If the obligation has not been fulfilled by the end of this period, or immediately in cases where the breach or default cannot be remedied, the innocent Party shall be entitled to a non-compensatory fine in the total amount of 5% (five percent) of the Purchase Price, which shall be paid within 2 (two) Business Days of receipt of the notification requesting payment, by Electronic Transfer to the notifying party’s current account indicated in Annex 2.8.
Any and all payments to be made by one Party to the other under this Agreement shall be made by Electronic Transfer, in local currency, to the bank account of the respective party listed in Annex 2.8.