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Common use of Independent payment Clause in Contracts

Independent payment. Independent payment means that Party B pays the loan proceeds independently to its transaction counterparties for the agreed purpose after Party A disburses the loan amount to Party B's account upon receipt of Party B's drawdown application.

Appears in 2 contracts

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

Independent payment. Independent payment means that payment by Party B pays itself to its counterparty for the purpose as agreed herein with the loan proceeds independently advanced to its transaction counterparties for the agreed purpose after account by Party A disburses the loan amount pursuant to Party B's account upon receipt of Party B's drawdown application’s utilization request.

Appears in 1 contract

Samples: Facility Agreement (Tesla, Inc.)

Independent payment. Independent payment means that Party B pays the loan proceeds independently to its transaction counterparties for the agreed purpose that, after Party A disburses the loan amount funds to Party B's account upon receipt of according to Party B's drawdown applicationapplication for withdrawal, and Party B will pay the same independently to its counterparties who meet the agreed purposes.

Appears in 1 contract

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

Independent payment. Independent payment means that Party B pays the loan proceeds independently to its transaction counterparties for the agreed purpose after Party A disburses has issued the loan amount fund to Party B's account upon receipt according to the withdrawal application of Party B's drawdown application, Party B will make independent payment to its counterparty satisfying the use as agreed in the agreement.

Appears in 1 contract

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