Common use of Entrusted payment Clause in Contracts

Entrusted payment. Entrusted payment means Party A pays the loan amount to Party B’s counter-party meeting the purpose specified herein through Party B’s account according to Party B’s drawdown application and payment entrustment. Party B authorizes Party A to pay the loan funds adopting entrusted payment to Party B’s counter-party through Party B’s account on the date when the loan funds are issued (or the working day after the issuance).

Appears in 3 contracts

Samples: Credit Facility Agreement, Credit Facility Agreement (iQIYI, Inc.), Credit Facility Agreement (iQIYI, Inc.)

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Entrusted payment. Entrusted payment means shall mean: Party A pays shall pay the loan amount to Party B’s counter-party meeting the purpose specified herein funds through Party B’s account according to Party B’s drawdown application counterparties of transactions which are in conformity with the purpose agreed herein pursuant to Party B’s loan payment request and payment entrustment. When the entrustment payment is adopted, any external payment after the Loan is issued must be made only after approved by Party A, and Party B authorizes may not evade Party A A’s supervision by means of online bank, transfer funds to pay its own account in other bank by cheque, breaking the whole loan funds adopting entrusted payment to Party B’s counter-party through Party B’s account on the date when the loan funds are issued (or the working day after the issuance)into parts and such other means.

Appears in 2 contracts

Samples: Loan Contract (Vipshop Holdings LTD), Loan Contract (Vipshop Holdings LTD)

Entrusted payment. Entrusted payment means that Party A pays the loan amount to proceeds via Party B’s counter-party meeting 's account to any transaction counterparties of Party B for the agreed purpose specified herein through based on Party B’s account according to Party B’s 's drawdown application and payment entrustment. For the loan proceeds paid through entrusted payment, Party B authorizes shall grant Party A the authority to pay make payments via Party B's account to any transaction counterparties of Party B on the loan funds adopting entrusted payment to Party B’s counter-party through Party B’s account on the disbursement date when the loan funds are issued (or the working a business day after the issuancefollowing loan disbursement).

Appears in 2 contracts

Samples: Xunlei LTD, Xunlei LTD

Entrusted payment. Entrusted The entrusted payment means is that, Party A A, based on Party B’s withdrawal application and payment entrustment, pays the loan amount funds from Party B’s account to Party B’s counter-party meeting counterparty in accordance with the purpose specified herein through Party B’s account according to Party B’s drawdown application and agreed use. For the loan funds using the entrusted payment entrustment. method, Party B authorizes Party A to pay the loan funds adopting entrusted payment to Party B’s counter-party through counterparty from Party B’s account on the date when day of releasing the loan funds are issued (or the next working day after the issuanceloan is released).

Appears in 2 contracts

Samples: Credit Agreement (ECMOHO LTD), Credit Agreement (ECMOHO LTD)

Entrusted payment. Entrusted payment means payment of loan by Party A pays the loan amount to Party B’s counter-party meeting counterparty for the purpose specified as agreed herein through Party B’s account according to upon Party B’s drawdown application utilization request and payment entrustmentconsignment. In the case of entrusted payment, Party B authorizes Party A to pay the loan funds adopting entrusted payment to Party B’s counter-party counterparty through Party B’s account on the date when the loan funds are issued is advanced (or on the working next business day after immediately following the issuanceloan advance).

Appears in 1 contract

Samples: Tesla, Inc.

Entrusted payment. Entrusted payment means refers to payment of the loan funds by Party A pays the loan amount via Party B's account to Party B’s counter-party meeting the purpose specified 's counterparty stipulated herein through Party B’s account according to Party B’s drawdown 's withdrawal application and payment entrustmentauthorization. For loan funds adopting an entrusted payment method, Party B authorizes shall authorize Party A to pay make the loan funds adopting entrusted payment to Party B’s counter-party through 's counterparty via Party B’s 's account on the date when of release of the loan funds are issued (or the working day after next following the issuancedate of release).

Appears in 1 contract

Samples: Credit Extension Agreement (Cellular Biomedicine Group, Inc.)

Entrusted payment. Entrusted payment means that according to the withdrawal application and payment entrustment of Party B, Party A pays will pay the loan amount fund to Party B’s counter-party meeting 's counterparty satisfying the purpose specified herein use as agreed in the agreement through Party B’s account according to Party B’s drawdown application and payment entrustmentaccount. For the loan fund adopting entrusted payment, Party B authorizes Party A to pay the loan funds adopting entrusted make payment to Party B’s counter-party 's counterparty through Party B’s 's account on the date when the of loan funds are issued issuance (or on the next working day after the loan issuance).

Appears in 1 contract

Samples: Credit Agreement (ReTo Eco-Solutions, Inc.)

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Entrusted payment. Entrusted payment means that, upon Party B’s withdrawal application and entrustment, Party A pays the loan amount funds to a counterparty for purposes stipulated in the relevant agreement via Party B’s counter-party meeting the purpose specified herein through Party B’s account according to Party B’s drawdown application and payment entrustmentaccount. For loan funds under entrusted payment, Party B authorizes Party A to pay the loan funds adopting entrusted payment same to Party B’s counter-party the counterparty through Party B’s account on the loan release date when (or on the first working day immediately following the loan funds are issued (or the working day after the issuancerelease date).

Appears in 1 contract

Samples: Facilities Agreement (ACM Research, Inc.)

Entrusted payment. Entrusted payment means that, Party A A, according to the utilisation request and payment instruction of Party B, pays the loan amount to counterparty of Party B’s counter-party meeting B through the account of Party B for the agreed purpose specified herein through under this Agreement. In the case of entrusted payment, prior approval of Party B’s account according to Party B’s drawdown application and A is required for overseas payment entrustmentafter issuance of the loan. Party B authorizes may not circumvent the monitoring of Party A to pay by way of online banking, presenting cheque at the loan funds adopting entrusted payment to Party B’s counter-party through Party B’s account on issuing bank, breaking down the date when the loan funds are issued (or the working day after the issuance)loans, etc.

Appears in 1 contract

Samples: Loan Agreement (Maxclean Holdings LTD)

Entrusted payment. Entrusted payment means Party A pays the loan amount to Party B’s counter-party meeting the purpose specified herein through Party B’s account according to Party B’s drawdown application and payment entrustment. Party B authorizes Party A to pay the loan funds adopting entrusted payment to Party B’s counter-party through Party B’s account on the date when the loan funds are issued (or the working day after the issuance).

Appears in 1 contract

Samples: Credit Facility Agreement (Sohu Com Inc)

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