Common use of Agent may assume receipt Clause in Contracts

Agent may assume receipt. Where any sum is to be paid under this Agreement to the Agent for the account of another person, the Agent may assume that the payment will be made when due and may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Agent, then the person to whom such sum was so made available shall on request refund such sum to the Agent together with interest thereon sufficient to compensate the Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable shall indemnify the Agent for any and all loss or reasonable expense which the Agent may sustain or incur as a consequence of such sum not having been paid on its due date.

Agent may assume receipt. Where any sum is to be paid under this Agreement to the Agent for the account of another person, the Agent may assume that the payment will be made when due and may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Agent, then the person to whom such sum was so made available shall on request refund such sum to the Agent together with interest thereon sufficient to compensate the Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable shall indemnify the Agent for any and all loss or reasonable expense which the Agent may sustain or incur as a consequence of such sum not having been paid on its due date.

Agent may assume receipt. Where any sum is to be paid under this Agreement any of the Security Documents to the Agent for the account of another person, the Agent may assume that the payment will be made when due and the Agent may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Agent, then the person to whom such sum was so made available shall on request refund such sum to the Agent together with interest thereon sufficient to compensate the Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable shall indemnify the Agent and/or person to whom such sum was made available by the Agent for any and all loss or reasonable expense which the Agent or such person may sustain or incur as a consequence of such sum not having been paid on its due date.

Agent may assume receipt. Where any sum is to be paid under this Agreement to the Agent for the account of another person, the Agent may assume that the payment will be made when due and the Agent may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Agent, then the person to whom such sum was so made available shall on request refund such sum to the Agent together with interest thereon sufficient to compensate the Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable shall indemnify the Agent for any and all loss or reasonable expense which the Agent may sustain or incur as a consequence of such sum not having been paid on its due date.

Agent may assume receipt. Where any sum is to be paid under this Agreement to the either Agent for the account of another person, the such Agent may assume that the payment will be made when due and may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the relevant Agent, then the person to whom such sum was so made available shall on request refund such sum to the such Agent together with interest thereon sufficient to compensate the such Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable shall indemnify the such Agent for any and all loss or reasonable expense which the such Agent may sustain or incur as a consequence of such sum not having been paid on its due date.

Agent may assume receipt. Where any sum is to be paid under this Agreement to the Agent for the account of another personPerson, the Agent may assume that the payment will be made to the Agent when due and may (but shall not be obliged to) make such sum available to the person Person so entitled. If it proves to be the case that such payment was not made to the Agent, then the person Person to whom such sum was so made available shall on request refund such sum to the Agent together with interest thereon sufficient to compensate the Agent for the cost of making available such sum up to the date of such repayment and the person Person by whom such sum was payable shall indemnify the Agent for any and all loss or reasonable expense which the Agent may sustain or incur as a consequence of such sum not having been paid on its due date.