Common use of Condition Precedent for Payment Clause in Contracts

Condition Precedent for Payment. ‌ Each obligation of each Party to pay any amount due under this Agreement (other than an amount that is due under section 4.5.2) above is subject to the condition precedent that no Event of Default (or event, act or omission which, with the passing of time and/or the giving of notice, will give rise to an Event of Default) has occurred and is continuing with respect to the other Party, provided, that any deferred payment obligation shall be accounted for and settled on a net basis on the later of (a) the date the relevant Event of Default or potential Event of Default is cured or waived, and (b) the scheduled termination date of the Transaction with the latest scheduled termination date in existence, on the date the deferral commences.

Condition Precedent for Payment. ‌ Each obligation of each Party to pay any amount due under this Agreement (other than an amount that is due under section 4.5.2) above is subject to the condition precedent that no Event of Default (or event, act or omission which, with the passing of time and/or the giving of notice, will give rise to an Event of Default) has occurred and is continuing with respect to the other Party, provided, that any deferred payment obligation shall be accounted for and settled on a net basis on the later of (a) the date the relevant Event of Default or potential Event of Default is cured or waived, and (b) the scheduled termination date of the Transaction transaction with the latest scheduled termination date in existence, on the date the deferral commences.

Condition Precedent for Payment. ‌ Each obligation of each Party to pay any amount due under this Agreement (other than an amount that is due under section 4.5.2) above is subject to the condition precedent that no Event of Default (or event, act or omission which, with the passing of time and/or the giving of notice, will give rise to an Event of Default) has occurred and is continuing with respect to the other Party, provided, that any deferred payment obligation shall be accounted for and settled on a net basis on the later of (a) the date the relevant Event of Default or potential Event of Default is cured or waived, and (b) the scheduled termination date of the Transaction with the latest scheduled termination date in existence, on the date the deferral commences.