Common use of Debt Due Clause in Contracts

Debt Due. If, pursuant to the Agreement: (a) the Province demands from the Recipient the payment of any Funds or an amount equal to any Funds; or (b) the Recipient owes any Funds, SRA Phase 1 Contribution and SRA Phase 3 Contribution, or an amount equal to any Funds, SRA Phase 1 Contribution, or SRA Phase 3 Contribution to the Province, whether or not the Province has demanded their payment, such amounts will be deemed to be a debt due and owing to the Province by the Recipient, and the Recipient will pay the amounts to the Province immediately, unless the Province directs otherwise. This paragraph shall be in addition to any rights provided for under paragraph A4.4 above and shall not be construed by either Party as a conflict to said paragraph.

Appears in 8 contracts

Samples: Transfer Payment Agreement, Transfer Payment Agreement, Transfer Payment Agreement

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