Common use of Making of Payments and Performance of Services Clause in Contracts

Making of Payments and Performance of Services. All payments required by Sections 3.2 and 3.3 will be made for each Accounting Period within fifteen (15) days after the end of each Accounting Period. All other payments required by this Agreement will be made pursuant to the timing set forth in the invoice forwarded to Franchisee, which will not be less than ten (10) days after Franchisor issues such invoice. Payments due to Franchisor or its Affiliates will be paid by wire transfer of immediately available funds or such other method as Franchisor approves to the accounts designated by Franchisor. Franchisor has the right to have any service or obligation of Franchisor under this Agreement be performed by an Affiliate of Franchisor and Franchisee agrees to accept performance by such Affiliate. Franchisor also has the right to designate that payment be made to one of its Affiliates instead of Franchisor, and Franchisee must make such payments as designated.

Appears in 4 contracts

Samples: Franchise Agreement (American Realty Capital Hospitality Trust, Inc.), Franchise Agreement (American Realty Capital Hospitality Trust, Inc.), Relicensing Franchise Agreement (Apple REIT Ten, Inc.)

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