Invoking Payment Guarantee Sample Clauses

Invoking Payment Guarantee. Company will notify Merchant when an eligible Customer has defaulted on their required payment. Company may take up to 30 days to resolve delinquency prior to notification. Merchant may elect to invoke the Payment Guarantee by notifying Company within 7 days of notice. If Merchant invokes the Payment Guarantee, Company’s authorized designee will provide funds for the monthly payment on the next due date and Merchant authorizes Company’s authorized designee to seek reimbursement from Customer. If Merchant fails to invoke the Payment Guarantee by the deadline, the Payment Guarantee will be waived, and the Merchant will collect directly from Customer. Once invoked, a Payment Guarantee may not be revoked by Merchant. If Merchant sends Customer to collections, Guarantee is void.
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Invoking Payment Guarantee. Company will notify Merchant when an eligible Customer has defaulted on their required payment. Merchant may elect to invoke the Payment Guarantee by notifying Company at least five (5) days prior to the next payment due date. Merchant will have one additional opportunity to elect to invoke the Payment Guarantee by notifying Company at least five (5) days prior to the following payment due date. If Merchant invokes the Payment Guarantee, Company’s authorized designee will provide funds for the monthly payment on the next due date and Merchant authorizes Company’s authorized designee to pursue collections from Customer. If Merchant fails to invoke the Payment Guarantee by the second deadline, the Payment Guarantee will be waived, and the Merchant will be responsible for collecting directly from Customer. Once invoked, a Payment Guarantee may not be revoked by Merchant.
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Related to Invoking Payment Guarantee

  • Payment Guarantee 20.1 On Contracts where one hundred (100%) percent performance bonds and payment bonds are executed, this Article 20 does not apply.

  • Termination in relation to Guarantee The Authority may terminate this Framework Agreement by serving notice on the Supplier in writing with effect from the date specified in such notice if the Supplier is required to procure a Guarantee from a Guarantor pursuant to Clause 33 (Guarantee) where:

  • Payment Agreement The agreement between you and Barracudas begins at the point where a payment is made, whether in part or full, and is when these booking conditions apply from. This agreement is with you, as the person who made the booking, and you are responsible for ensuring any parent/carer relating to this booking are aware of, and accept, these booking conditions.

  • Guaranty of Payment This Loan Guaranty is a guaranty of payment and not of collection. Each Loan Guarantor waives any right to require the Administrative Agent, the Issuing Bank or any Lender to xxx any Borrower, any Loan Guarantor, any other guarantor of, or any other Person obligated for, all or any part of the Guaranteed Obligations (each, an “Obligated Party”), or otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations.

  • Continuing Guarantee This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Obligor under the Finance Documents, regardless of any intermediate payment or discharge in whole or in part.

  • Continuing Guaranty This Guaranty is a continuing guaranty and shall remain in effect until all of the Guaranteed Obligations shall have been paid in full and the Revolving Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled. Each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future transactions giving rise to any Guaranteed Obligations.

  • The Guarantee Each Guarantor hereby jointly and severally with the other Guarantors guarantees, as a primary obligor and not merely as a surety to each Secured Party and their respective permitted successors and assigns, the prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by acceleration or otherwise) of the principal of and interest (including any interest, fees, costs or charges that would accrue but for the provisions of (i) the Title 11 of the United States Code after any bankruptcy or insolvency petition under Title 11 of the United States Code and (ii) any other Debtor Relief Laws) on the Loans made by the Lenders to, and the Notes held by each Lender of, the Borrower, and all other Secured Obligations from time to time owing to the Secured Parties by any Loan Party or any Subsidiary under any Loan Document or any Secured Hedge Agreement or any Treasury Services Agreement, in each case strictly in accordance with the terms thereof (such obligations, including any future increases in the amount thereof, being herein collectively called the “Guaranteed Obligations”); provided, however, that Guaranteed Obligations shall exclude all Excluded Swap Obligations. The Guarantors hereby jointly and severally agree that if the Borrower or other Guarantor(s) shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed Obligations, the Guarantors will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

  • Application of this Revenue Sharing Agreement to Notes The terms of this Revenue Sharing Agreement shall apply to each Note as if the terms of this Revenue Sharing Agreement were fully set forth in each Note.

  • Weekly Guarantee Apprentices must be employed a minimum of forty (40) hours per week.

  • FAILURE TO HONOUR SETTLEMENT AGREEMENT 32. If this Settlement Agreement is accepted by the Hearing Panel and, at any subsequent time, the Respondent fails to honour any of the Terms of Settlement set out herein, Staff reserves the right to bring proceedings under section 24.3 of the By-laws of the MFDA against the Respondent based on, but not limited to, the facts set out in Part IV of the Settlement Agreement, as well as the breach of the Settlement Agreement. If such additional enforcement action is taken, the Respondent agrees that the proceeding(s) may be heard and determined by a hearing panel comprised of all or some of the same members of the hearing panel that accepted the Settlement Agreement, if available.

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