Direct payments to third parties. (a) The Borrower or the Executing Agency, as the case may be, may request disbursements under the method of direct payments to third parties, by means of which the Bank directly pays providers or contractors on behalf of the Borrower or the Executing Agency, as the case may be.
Direct payments to third parties. The Beneficiary or the Executing Agency, as the case may be, may request disbursements under the method of direct payments to third parties, by means of which the Bank directly pays providers or contractors on behalf of the Beneficiary or the Executing Agency, as the case may be. In case of direct payments to third parties, the Beneficiary or the Executing Agency shall be responsible for payment of the amount equivalent to the difference between the amount of the disbursement requested by the Beneficiary or the Executing Agency and the amount received by the third party as the result of exchange rate fluctuations, commissions, and other financial costs.
Direct payments to third parties. At Ligand's direction, X-Ceptor shall pay a royalty on sales of a Product owed a third party in the manner required by Ligand's agreement with the third party with a copy of the royalty report provided the third party also provided to Ligand. Payments made to a third party directly by X-Ceptor shall not be included in calculation of the Third Party Royalty under Section 4.01.
