Acknowledgement of Payment Clause Samples
The Acknowledgement of Payment clause serves to formally confirm that a payment has been received by one party from another. In practice, this clause typically specifies the amount paid, the date of receipt, and may reference the purpose or invoice related to the payment. Its core function is to provide clear evidence of payment, thereby reducing the risk of future disputes regarding whether or when payment was made.
Acknowledgement of Payment. The Borrower hereby expressly acknowledges that the payments made by the Lender in accordance with the instructions contained in the request for an Advance constitute such Advance to the Borrower in the amount of such payment and satisfy pro tanto the obligation of the Lender to lend sums to the Borrower hereunder.
Acknowledgement of Payment. The Agent and the Lenders hereby acknowledge --------------------------- that upon execution of this Second Amendment, the Borrower make a $10,000,000 prepayment of principal to GE Capital Equity Investments, Inc. under the GE Capital Agreement and shall reduce the maximum availability under the GE Capital Agreement to $10,000,000. Schedule 7.01 to the Credit Agreement is amended to add the following sentence at the end of the first paragraph: The outstanding principal shall be reduced to $10,000,000 upon the execution of the Second Amendment to Note Purchase Agreement.
Acknowledgement of Payment. Each Selling Shareholder shall, upon receipt of such Selling Shareholder's Pro Rata Share of US$20,000,000 paid to such Selling Shareholder by Purchaser as an advance payment of the Purchase Price under and subject to the terms of the Interim Management Agreement shall deliver to Purchaser an acknowledgment and receipt thereof.
Acknowledgement of Payment. The Vendor acknowledges that receipt of the Initial Payment constitutes the Vendor’s agreement to grant CLIENT the rights and services as stipulated in this agreement. The Vendor shall not be obligated to grant such rights and licenses until the Initial Payment is made in full.
Acknowledgement of Payment. The deposit slip serves as the acknowledgement of payment received by the Landlord from the Tenant through its representative.
Acknowledgement of Payment. ELXSI hereby acknowledges receipt this day of $5,550,000, constituting payment in full of the outstanding principal amount of the Subsidiary Loans plus the accrued but unpaid interest thereon. Promptly after the date hereof, the Subsidiaries will pay or cause to be paid to ELXSI the full amount of the accrued but unpaid interest on such Subsidiary Loans.
Acknowledgement of Payment. Homestore acknowledges payment and full satisfaction of all payments that are currently due or may be due and owing under any of the Ancillary Agreements or any other agreement relating to the Agreement and Plan of Reorganization. As of the date of this Agreement, Homestore acknowledges that Cendant does not owe Homestore any sums of money under any agreement, whether written or oral, except as set forth in Exhibit E.
Acknowledgement of Payment. The County hereby acknowledges receipt of $68,038.55 in good funds from the Developer, which the County hereby acknowledges and agrees represents complete satisfaction by Developer of all obligations to reimburse the County pursuant to the MOU.
Acknowledgement of Payment. The Consultant acknowledges that all fees and expenses properly due to the Consultant under the Appointment up to the date of this Novation Deed have been paid by the Client.
Acknowledgement of Payment. The Agent acknowledges receipt of the sum of (Pounds)4,444,444.44 paid on 31 March 1999 which has been applied against the Amortisation due on 31 December 1998 as deferred by clause 6.1.4 of the Second Amendment Agreement.