Funds Settlement Clause Samples

The Funds Settlement clause defines the procedures and timing for transferring and clearing payments between parties under an agreement. It typically outlines when payments are due, the acceptable methods of payment, and any conditions that must be met for funds to be considered settled, such as confirmation of receipt or clearance by a financial institution. This clause ensures that both parties have a clear understanding of their financial obligations and helps prevent disputes over payment timing or methods, thereby facilitating smooth and predictable financial transactions.
Funds Settlement. Transact, through its subcontractors, will complete its Transaction Processing and Funds Transfer settlement obligations by (i) collecting from Campus Cash Merchant accounts all applicable Merchant Discount Fees; (ii) paying the Royalty owed to Customer into Customer's account.
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Funds Settlement. Upon receipt of each End-Of-Day Batch message, ▇▇▇▇▇▇▇ will settle into the Merchant Account the total dollar amount due Merchant for all completed Transactions processed by Merchant in accordance with this Agreement and identified in that End-Of-Day Batch Message. It is the Merchant’s responsibility to ensure batches are sent to Moneris daily.
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Funds Settlement. The business expenses incurred in the agency services under this Agreement shall be charged by Party B to the customer and settled in the manner agreed by China Unicom’s fund collection service. For details of the settlement process, please refer to Annex 2 to this Agreement “China Unicom Agency Funds Collection Service and Customer Acceptance Agreement”.
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Funds Settlement. (i) Settlement of funds between the Agent and the Lender shall in principle be made through theZengin Data Telecommunication System, and if the Lender wishes to make settlement through the Bank of Japan Financial Network System, such Lender shall consult with the Agent in advance. However, if the Lender is not a member of the Zengin Data Telecommunication System, the funds shall be settled through a bank account under the name of the Lender at a bank that is a member of the Zengin Data Telecommunication System as designated by the Lender. (ii) Any fees, etc. for payments made by any party hereto to any other party hereto pursuant to this Agreement shall be borne by the paying party.
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Funds Settlement. Upon receipt of each End-Of-Day Batch message, HMS will settle into the Merchant Account the total dollar amount due Merchant for all completed Transactions processed by Merchant in accordance with this Agreement and identified in that End-Of-Day Batch Message. It is the Merchant’s responsibility to ensure batches are sent to HMS daily.
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Funds Settlement. Client provides to USP bank account and routing number for settlement of payments
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Related to Funds Settlement

  • Loss Settlement In this Condition D., the terms "cost to repair or replace" and "replacement cost" do not include the increased costs incurred to comply with the enforcement of any ordinance or law, except to the extent that coverage for these increased costs is provided in E.11. Ordinance Or Law under Section I – Property Coverages. Covered property losses are settled as follows: 1. Property of the following types: a. Personal property; b. Awnings, carpeting, household appliances, outdoor antennas and outdoor equipment, whether or not attached to buildings; c. Structures that are not buildings; and d. Grave markers, including mausoleums; 2. Buildings covered under Coverage A or B at replacement cost without deduction for depreciation, subject to the following: a. If, at the time of loss, the amount of insurance in this policy on the damaged building is 80% or more of the full replacement cost of the building immediately before the loss, we will pay the cost to repair or replace, without deduction for depreciation, but not more than the least of the following amounts: (1) The limit of liability under this policy that applies to the building; (2) The replacement cost of that part of the building damaged with material of like kind and quality and for like use; or (3) The necessary amount actually spent to repair or replace the damaged building. b. If, at the time of loss, the amount of insurance in this policy on the damaged building is less than 80% of the full replacement cost of the building immediately before the loss, we will pay the greater of the following amounts, but not more than the limit of liability under this policy that applies to the building: (1) The actual cash value of that part of the building damaged; or (2) That proportion of the cost to repair or replace, without deduction for depreciation, that part of the building damaged, which the total amount of insurance in this policy on the damaged building bears to 80% of the replacement cost of the building. c. To determine the amount of insurance required to equal 80% of the full replacement cost of the building immediately before the loss, do not include the value of: (1) Excavations, footings, foundations, piers, or any other structures or devices that support all or part of the building, which are below the undersurface of the lowest basement floor; (2) Those supports described in (1) above which are below the surface of the ground inside the foundation walls, if there is no basement; and (3) Underground flues, pipes, wiring and drains. d. We will pay no more than the actual cash value of the damage until actual repair or replacement is complete. Once actual repair or replacement is complete, we will settle the loss as noted in 2.a. and b. above. However, if the cost to repair or replace the damage is both: (1) Less than 5% of the amount of insurance in this policy on the building; and (2) Less than $2,500;

  • The Settlement Following mediation with a neutral party, a Settlement has been reached. As part of the Settlement, a Qualified Settlement Fund of $39,500,000 will be established to resolve the Class Action. The Net Settlement Amount is $39,500,000 minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Class Representative Compensation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.

  • Cashless Settlement Notwithstanding anything to the contrary contained in this Agreement, any Lender may exchange, continue or rollover all or a portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism approved by the Borrower, the Administrative Agent and such Lender.

  • Gross Settlement Amount Except as otherwise provided by Paragraph 8 below, Defendant promises to pay $1,110,000.00 as the Gross Settlement Amount. Defendant will separately pay the employer's share of payroll taxes on the Wage Portion of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount prior to the deadline stated in Paragraph 4.3 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • Cash Settlement If Cash Settlement is applicable to any Option exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant Settlement Date for each such Option, an amount of cash (the “Cash Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (i) the Daily Option Value for such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period.