Payee definition

Payee means individual who resides in this state or a corporation, trust, partnership, association, or other private legal entity authorized to do business in this state that receives money as payment under an agreement.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Payee means a natural or legal person who is the intended recipient of funds which have been the subject of a payment transaction;

Payee means an individual who is receiving tax-free payments under a structured settlement and proposes to make a transfer of payment rights.

Examples of Payee in a sentence

• Any right of Payee under the Note to declare the obligations thereunder immediately due and payable, or to take any enforcement action with respect thereto, shall in all respects be subject to the Subordination Agreement and any applicable Standstill Period.

• As to any fraction of a share that Payee would otherwise be entitled to purchase upon such conversion, Payor shall round down to the next whole share.

• Maker and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for working capital and extension purposes.

• The principal of this Note may be drawn down from time to time prior to the Maturity Date upon request from Maker to Payee (each, a “Drawdown Request”).

• Absent reasonable prior written notice by Payee to convert into Conversion Shares pursuant to Section 15 herein, the Note shall become due and payable in cash at the closing of such DeSPAC Transaction.

More Definitions of Payee

Payee means a person who receives a payment.

Payee has the meaning specified in Section 6(f).

Payee means a person who receives a payment;

Payee shall have the meaning assigned in Section 8.5(a).

Payee shall have the meaning set forth in Section 3.10 hereof.

Payee means an individual who receives tax free payments under a structured settlement and who proposes to make a transfer of payment rights under the structured settlement.

Payee is the person or entity to which you wish a bill payment to be directed or is the person or entity from which you receive electronic bills, as the case may be.