Discount Payments Clause Samples
The Discount Payments clause defines the terms under which a buyer is entitled to pay less than the full invoice amount, typically as an incentive for early payment. This clause specifies the conditions, such as payment deadlines and the percentage or amount of discount offered, that must be met for the discount to apply. By clearly outlining these terms, the clause encourages prompt payment and helps both parties avoid misunderstandings regarding payment amounts and timing.
Discount Payments. On the Settlement Date for each Receivable Interest of the Committed Purchasers in a Group, the Seller shall pay to the applicable Co-Agent (for the benefit of such Committed Purchasers) an aggregate amount equal to the accrued and unpaid Discount for the entire Tranche Period of each such Receivable Interest in accordance with Section 1.5.
Discount Payments. On the Settlement Date for each Receivable Interest of the Investors, the Seller shall pay to the Agent (for the benefit of the Investors) an aggregate amount equal to the accrued and unpaid Discount for the entire Settlement Period of each such Receivable Interest in accordance with Sections 1.6 and 1.7.
Discount Payments. (i) On the date of issuance of an Acceptance, the Issuing Bank shall discount the related Acceptance Draft by deducting from the face amount thereof a discount equal to the sum of (A) the Acceptance Rate determined by the Issuing Bank with respect to such Acceptance Draft, and (B) an origination fee in an amount equal to 1/4 of 1% per annum on the face amount of such Acceptance Draft for the period from and including such date of issuance to but excluding the scheduled maturity date of such Acceptance Draft (computed on the basis of a year of 360 days for the actual number of days elapsed), and shall make the net amount available to the Borrower in the same manner as Loans are to be made available to the Borrower as provided herein; provided that the Issuing Bank may, in its discretion, deduct from the net amount to be made available to the Borrower the amount of acceptance fees payable pursuant to Section 2.12(d), in which case the amount of such fees so deducted shall be made available by the Issuing Bank to the Administrative Agent for distribution to the Revolving Lenders. The Issuing Bank shall retain for its own account the amounts so deducted, except as expressly provided above with respect to acceptance fees.
(ii) The Issuing Bank may, in its sole discretion, either retain for its own account or re-discount to third parties any Acceptance Draft. If the Issuing Bank re-discounts an Acceptance Draft, the Issuing Bank shall retain the proceeds thereof for its own account.
(iii) The Borrower shall be obligated, and hereby agrees, to pay to the Administrative Agent, for the account of the Issuing Bank, the face amount of each Acceptance Draft not later than 2:00 p.m., New York City time, on the stated maturity date thereof. If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Revolving Lender of such failure, the payment then due from the Borrower and such Lender's Applicable Percentage thereof. Promptly following receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in the same manner as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amount so received by it from the Revolving Lenders. Promptly following receipt by the Ad...
Discount Payments. 8 Section 3.03 Calculation of Discount.............................................................. 8