First Payee definition

First Payee shall have the meaning assigned to such term in Article 7.1 of this Agreement.
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First Payee means the Party that utilizes its Distribution channels to sell (i) WorldSpace China Receivers and WorldSpace China PC Cards; and (ii) the Multimedia Financial Information Service Channel, and receives sales income from distributors, consignors or retailers.
Sample 1Sample 2

Examples of First Payee in a sentence

  • If the First Payee fails to make all payments due to the other Party to the bank account designated by such other Party (or to make payments in other alternatives as agreed upon by both Parties), the First Payee shall pay a penalty of 0.05% of the unpaid amount for each day of delay to the other Party.

  • If the outcome of the audit done by the independent accountant is materially different (greater than 3%) from a sales report, or unfair competition or serious dereliction of duty occurs, the First Payee shall bear the auditing expenses.

  • The provision for the Parties’ cooperative multimedia information service’s First Payee shall be referred to in the “Supplementary Agreement” executed by the Parties.

  • The First Payee shall cooperate with the other Party for such other Party’s audit for three (3) years following the completion of each sales quarter involved in the sales report and accounting record of the Cooperative Project.

  • An independent accountant (selected by the other Party and agreed to by the First Payee) may audit the sales reports submitted by the First Payee.

  • The First Payee shall submit to the other Party sales reports in written form within 30 days after each of the following dates: March 31, June 30, September 30 and December 31 of each year, and ensure the correctness of such reports.

  • Tongshi is the First Payee for the sale of the WorldSpace China Receivers and WorldSpace China PC Cards.

Related to First Payee

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Eligible beneficiary means a resident of this state who:

  • Beneficiaries means any Person to whom the Issuer is or hereafter becomes indebted or liable.

  • Settlor means a person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution except to the extent another person has the power to revoke or withdraw that portion.

  • National Emergency Number Association (“NENA”) is an association with a mission to xxxxxx the technological advancement, availability and implementation of 911 nationwide.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.

  • Annuitant means a person who receives a retirement allowance or a disability allowance;

  • Registered domestic partner means an individual joined in a domestic partnership that is registered by a county clerk in accordance with ORS 106.300 to 106.340.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.