Delivery of Payments to STHL Sample Clauses

Delivery of Payments to STHL. In consideration of STHL ---------------------------- entering into this Agreement and causing the Company to enter into this Agreement and to increase its authorized share capital, IWC shall (a) upon the satisfaction of all the conditions provided in the Escrow Agreement and in Article 8 of this Agreement, deliver the Release Certificate (as defined in the Escrow Agreement) to the Escrow Agent and direct the Escrow Agent to pay and deliver to STHL on the First Closing Date cash by wire transfer of immediately available funds to the bank account designated in writing by STHL in an amount of US$9,000,000, net of any bank charges (the "Initial STHL Payment"), and (b) once revenue sharing or other alternative agreements in connection with the Company's investment in the 800 MHz mobile telecommunications project currently being undertaken by the Company in Hebei Province, the People's Republic of China ("PRC") have been consummated by the Company (the consummation of all such agreements being the "Hebei Restructuring") to the satisfaction of the Board of Directors of IWC in its sole discretion, providing for returns on investment and other terms and conditions that are acceptable to IWC, and on the date IWC notifies STHL in writing that IWC has received a written legal opinion, satisfactory to it in both form and substance, of a reputable and duly qualified legal advisor (to be appointed by the Company) in the PRC that the agreements consummated in connection with the Hebei Restructuring are legally enforceable under the laws of the PRC, pay and deliver to STHL cash by wire transfer of immediately available funds to the bank account designated in writing by STHL in an amount of US$9,000,000; provided, however, that IWC shall not have any -------- ------- liability to pay such amount if the Hebei Restructuring has not been completed to the satisfaction of the Board of Directors of IWC in its sole discretion, on or before the date (the "Deadline Date") that is nine months after the First Closing Date (as defined in Section 3.3). The Deadline Date may be changed by agreement of the parties in writing.
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Related to Delivery of Payments to STHL

  • Delivery of Payments The Seller agrees to deliver in kind upon receipt to the Servicer under the Sale and Servicing Agreement (if other than the Seller) all payments received by the Seller in respect of the Receivables as soon as practicable after receipt thereof by the Seller.

  • Delivery of Payment Purchaser herewith delivers to the Company the full purchase price for the Shares.

  • Recovery of Payments If Agent pays any amount to a Lender in the expectation that a related payment will be received by Agent from an Obligor and such related payment is not received, then Agent may recover such amount from each Lender that received it. If Agent determines at any time that an amount received under any Loan Document must be returned to an Obligor or paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan Document, Agent shall not be required to distribute such amount to any Lender. If any amounts received and applied by Agent to any Obligations are later required to be returned by Agent pursuant to Applicable Law, each Lender shall pay to Agent, on demand, such Lender’s Pro Rata share of the amounts required to be returned.

  • Payments to Agent A payment by the Borrower to the Agent hereunder or any of the other Loan Documents for the account of any Bank shall constitute a payment to such Bank. The Agent agrees promptly to distribute to each Bank such Bank's pro rata share of payments received by the Agent for the account of the Banks except as otherwise expressly provided herein or in any of the other Loan Documents.

  • Payments; Application of Payments (a) All payments (including prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds in U.S. Dollars, without setoff or counterclaim, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. (b) Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise received by Bank under this Agreement when any such allocation or application is not specified elsewhere in this Agreement.

  • Distribution of payments to Creditor Parties Subject to Clauses 16.5, 16.6 and 16.7: (a) any amount received by the Agent under a Finance Document for distribution or remittance to a Lender or the Security Trustee shall be made available by the Agent to that Lender or, as the case may be, the Security Trustee by payment, with funds having the same value as the funds received, to such account as the Lender or the Security Trustee may have notified to the Agent not less than 5 Business Days previously; and (b) amounts to be applied in satisfying amounts of a particular category which are due to the Lenders generally shall be distributed by the Agent to each Lender pro rata to the amount in that category which is due to it.

  • Payments to Owner Section 4.01 Remittances...................................................29 Section 4.02 Statements to Owner...........................................29 Section 4.03 Monthly Advances by Servicer..................................30 Section 4.04 Due Dates Other Than the First of the Month...................30 ARTICLE V

  • Collection of Payments Borrower authorizes Bank to collect all principal, interest and fees due under each credit created by the Loan Documents by charging Borrower’s deposit account number 4121261853 with Bank, or any other deposit account maintained by Borrower with Bank, for the full amount thereof. Should there be insufficient funds in any such deposit account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by Borrower.

  • Payments; Application of Payments; Debit of Accounts (a) All payments to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars, without setoff or counterclaim, before 12:00 p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid. (b) Bank has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied. Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise received by Bank under this Agreement when any such allocation or application is not specified elsewhere in this Agreement. (c) Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.

  • Payments to Subcontractors Develop and implement a procedure for the review, processing and payment of applications by subcontractors for progress and final payments.

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