Advance Payment Terms Sample Clauses
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Advance Payment Terms. (a) Pursuant to the terms of this Section 6(B), Buyer shall make an advance payment to Seller in [...***...] (the “Advance Payment”) to enable Seller to purchase goods, materials and/or services required for Seller’s manufacture of the Components so that Seller may meet its obligations to Buyer under this Agreement. [...***...] [...***...] [...***...] [...***...] [...***...] [...***...] Provided that Seller is in compliance with all terms of this Agreement, including all of the conditions precedent described in subsection (f) below, Buyer shall; process the payment of each portion of the Advance Payment to Seller upon receipt of Seller’s invoice for the applicable portion of the Advance Payment in the amount as set forth on the table above and receipt of the required check.
(b) [...***...].
(c) [...***...].
(d) Seller shall repay the “Outstanding Balance of Advance Payment” (defined below) in full to Buyer without interest by providing Buyer with a credit [...***...] on the purchase pace of each Component purchased under the Supply Agreement or deemed, regardless of whether such Component was actually manufactured or delivered, to be purchased and invoiced in accordance with the Minimum Annual Volume Obligation of Appendix 1 of the Agreement. In addition to the foregoing credits, Seller may make additional repayments of the Outstanding Balance of Advance Payment to Buyer in cash through issuance of additional purchase price credits or otherwise. In all cases where Seller is repaying the Advance Payment through [...***...] ordered under the Supply Agreement, Seller shall provide Buyer with an invoice for [...***...]
(e) Buyer shall verify all purchase orders issued under the Supply Agreement (“POs”) and invoices against receipts by Buyer to ensure that the Advance Payment is accounted for accurately and completely repaid to Buyer.
(f) The obligations of Seller to Buyer with respect to the Advance Payment shall be secured by the following, each of which shall be fully executed by the parties thereto and delivered to Buyer on or before the deadlines set forth herein:
(i) To be delivered on the date of the Sixth Amendment of Supply Agreement: The Sixth Amendment to Supply Agreement.
(ii) To be delivered on or before the first disbursement of the Advance Payment and in all events by March 30, 2012 and as a condition precedent to Buyer’s first disbursement of the Advance Payment:
(A) a Standby Letter of Credit (the “Letter of Credit”) [...***...] and shall be in...
Advance Payment Terms. The Insured shall not extend payment terms to the Obligor greater than those detailed within the Maximum Advanced Payment Terms on the Policy Schedule without prior written consent of the Insurer. Such consent not to be unreasonably delayed or withheld.
Advance Payment Terms. If Client and Motricity mutually agree, Motricity shall pay Client an advance payment of Client’s share of Net Premium Messaging Revenue (“Advance Payment”), subject to the terms and conditions set forth on Exhibit 1 to this Schedule. The parties shall in good faith negotiate with Silicon Valley Bank to provide a first security interest to Client in the underlying receivables related to Client’s account. In the event that the security interest is achieved, the advance payment program will cease. In the event the security interest is no longer in place other than on account of the Client terminating the securitization agreement, and Motricity has not instituted a comparable arrangement with another bank within 60 days, then Client has the right to terminate this Agreement on 30 days prior written notice, which notice must be delivered to Motricity within 15 days following the end of that 60 day period. In addition, Client may, until a comparable arrangement has been instituted, reinstate the Advance Payment program on 5 days prior written notice to Motricity.