Common use of Distribution of Charge Payments Clause in Contracts

Distribution of Charge Payments. (a) Council must, in accordance with section 181D(2) of the Local Government Act, distribute any Charge Payment (other than the Administrative Costs included in the Charge Payment) it has received from the Owner in respect of a Charge Payment Date to the Lending Body by way of electronic transfer within 10 Business Days after Council has received cleared funds from the Owner for that Charge Payment. (b) Council may retain an amount from each Charge Payment equal to the Administrative Costs in relation to the Charge Payment Date as set out in the Payment Schedule. (c) Council is not liable to the Lending Body or any other person under this clause 5.3 for any amounts other than those received by Council as cleared funds for Charge Payments.‌

Distribution of Charge Payments. (a) Council must, in accordance with section 181D(2) of the Local Government Act, distribute any Charge Payment (other than the Administrative Costs included in the Charge Payment) it has received from the Owner in respect of a Charge Payment Date to the Lending Body by way of electronic transfer within 10 5 Business Days after Council has received cleared funds from the Owner for that Charge Payment. (b) Council may retain an amount from each Charge Payment equal to the Administrative Costs in relation to the Charge Payment Date as set out in the Payment Schedule. (c) Council is not liable to the Lending Body or any other person under this clause 5.3 for any amounts other than those received by Council as cleared funds for Charge Payments.‌Payments.

Distribution of Charge Payments. (a) Council must, in accordance with section 181D(2) of the Local Government Act, distribute any Charge Payment (other than the Administrative Costs included in the Charge Payment) it has received from the Owner in respect of a Charge Payment Date to the Lending Body by way of electronic transfer within 10 5 Business Days after Council has received cleared funds from the Owner for that Charge Payment.Payment.‌ (b) Council may retain an amount from each Charge Payment equal to the Administrative Costs in relation to the Charge Payment Date as set out in the Payment Schedule. (c) Council is not liable to the Lending Body or any other person under this clause 5.3 for any amounts other than those received by Council as cleared funds for Charge Payments.‌

Distribution of Charge Payments. (a) Council must, in accordance with section 181D(2) of the Local Government Act, distribute any Charge Payment (other than the Administrative Costs included in the Charge Payment) it has received from the Owner in respect of a Charge Payment Date to the Lending Body by way of electronic transfer within 10 5 Business Days after Council has received cleared funds from the Owner for that Charge Payment. (b) Council may retain an amount from each Charge Payment equal to the Administrative Costs in relation to the Charge Payment Date as set out in the Payment Schedule. (c) Council is not liable to the Lending Body or any other person under this clause 5.3 for any amounts other than those received by Council as cleared funds for Charge Payments.‌