Change of Payment Clause Samples
The Change of Payment clause establishes the conditions under which the terms or method of payment in a contract may be altered. Typically, this clause outlines the process for requesting a change, such as requiring written notice and mutual agreement between the parties before any modifications take effect. It may apply to changes in payment schedule, method (e.g., from check to wire transfer), or currency. The core function of this clause is to provide a clear and agreed-upon mechanism for adjusting payment arrangements, thereby reducing disputes and ensuring both parties are aware of and consent to any changes.
Change of Payment. Section 5.2 in the Original Agreement will be changed as provided below: Before QST shall issue an invoice to APRINOIA for payment of the royalty fee based on the report and APRINOIA shall make the payment within [***] days after receipt of the invoice. APRINOIA shall pay the royalty by transferring money to the designated bank account specified in the invoice issued by QST. The cost for the transfer shall be borne by APRINOIA. After QST shall issue the invoices to APRINOIA JP and APRINOIA CN for payment of the royalty fee based on the report and APRINOIA JP and APRINOIA CN shall make the payment within 30 days after receipt of the invoice. APRINOIA JP and APRINOIA CN shall pay the royalty by transferring money to the designated bank account specified in the invoice issued by QST. The cost for the transfer shall be borne by APRINOIA JP and APRINOIA CN.
Change of Payment. Upon execution of the Agreement, the CMAR shall provide the Owner with written payment instructions and all necessary forms required by the Owner to effectuate payments to the ▇▇▇▇ by wire transfer (the “Payment Information”). The CMAR shall submit the initial Payment Information to the Owner by certified mail or hand delivery only. If the Owner receives a request to change such Payment Information, the Owner agrees that it will not modify or make a change to this Payment Information without oral confirmation, followed by written confirmation, from the ▇▇▇▇’▇ Chief Financial Officer, Vice President, or President. The Owner shall make no changes to the Payment Information if it does not receive the oral and written confirmations as stated herein.
Change of Payment. Article 2.1 of the original Agreement is amended as follows: “The total price for the transfer of Target Share is RMB23,000,000 yuan. Party B shall pay the price in three installments: the first installment RMB3,000,000 shall be paid on or before September 30, 2019; the second installment RMB10,000,000 shall be paid on or before December 31, 2019, and the third installment RMB10,000,000 shall be paid on or before March 31, 2021. Party A’s bank account for receiving the payment is as follows: Account Name: Guangzhou Cornerstone Asset Management Co., Ltd. Account No.: 640566028533 Opening Bank: Bank of China Guangzhou Pearl River Branch”
Change of Payment. PANASONIC reserves the right to place all sales [***] with prior notice to BUYER, if in its judgment, PANASONIC determines BUYER is not creditworthy or is otherwise not financially secure because of an adverse change in BUYER’s financial status, including, but not limited to, BUYER’s poor payment history, delinquent balances, or BUYER’s non-responsiveness to PANASONIC. PANASONIC shall have the right, in its sole discretion, to cancel or suspend delivery or shipment of the Products (including, but not limited to, the Samples) to BUYER in the event BUYER fails to make any payment to PANASONIC when due.