Settlement Charge definition
Examples of Settlement Charge in a sentence
The Bank shall have the right to charge an Early Settlement Charge to the Customer upon Early Settlement during Lock-in Period made by the Customer and the Early Settlement Charges shall be calculated in the manner as determined by the Bank at its sole discretion.
If Worldspan fails to so implement an Interim Cure Arrangement or to maintain it for so long as Worldspan is in Default under this AMO Agreement, then IBM Credit may immediately request in writing that Worldspan pay a Settlement Charge, as described herein.
If Worldspan fails to pay the Settlement Charge in a timely manner, then Worldspan agrees, upon IBM Credit’s written demand, without any court order or other process of law and without liability for any damages occasioned by such action, to cease using and surrender to IBM Credit for return to licensor all licensed program materials for which IBM Credit has financed the charges, and to destroy any and all copies thereof.
If Worldspan fails to implement or maintain the Interim Cure Arrangement as described above, then, if Worldspan is still in Default under this AMO Agreement, upon IBM Credit’s written request, Worldspan shall pay the Settlement Charge, as described below.
Disputes regarding the Settlement Charge shall be considered under the Arbitration Act (1999:116), subject to the following deviations.
The first paragraph of Subsection B(2) of Section 20 of the AMO Agreement is replaced in its entirety with the following: “Upon receipt of a written request therefor from IBM Credit, as described above, Worldspan will pay an amount equal to the Settlement Charge, as defined below, and such amount will be due and payable on the date (the “Default Date”) that is thirty (30) days after Worldspan’s receipt of such written request.
The Settlement Charge covers the cost of, in accordance with the Contract, dispo- ▇▇▇ of the products that the Affiliated Undertaking has up to the date of Final Settlement put into the market, which have not yet been dealt with.
The Affiliated Undertaking shall pay to El-Kretsen a Settlement Charge.
Upon receipt of a written request therefor from IBM Credit, as described above, Worldspan will pay an amount equal to the Settlement Charge, as defined below, and such amount will be due and payable on the date (the “Default Date”) that is thirty (30) days after Worldspan’s receipt of such written request.
This also applies if the dispute is instituted about the Settlement Charge according to Clause 12.