Non-creditable Payments Sample Clauses

The Non-creditable Payments clause defines payments made under a contract that cannot be used to offset or reduce other financial obligations, such as taxes or royalties, owed by one party. In practice, this means that if a party makes a payment designated as non-creditable, they cannot later claim a deduction or credit for that payment against other amounts due under the agreement or applicable law. This clause ensures that certain payments remain distinct and are not used to lower other liabilities, thereby providing clarity and preventing disputes over the treatment of such payments.
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Non-creditable Payments. The sums set out in Clauses 7.1 to 7.3 are all payable in consideration of the licenses granted by Cyclacel herein, and are non-refundable in any circumstances whatsoever and are not creditable against the royalties due under Clause 7.5 except as provided in Clause 7.2.3.
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Non-creditable Payments. Milestone payments payable pursuant to Section 3.2 are not creditable against the earned royalties set forth in Section 3.5.
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Non-creditable Payments. All milestone payments made to Company pursuant to Sections 8.2 and 8.3 shall be non-refundable and shall not be creditable against any other amount due to Company pursuant to this Agreement. For clarity, each milestone payment under Sections 8.2 and 8.3 shall be only paid once by Licensee, upon the first achievement of such event.
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Non-creditable Payments. Subject to Sections 3.03 and 3.04, all payments made to Juno pursuant to this Article III shall be [***] and shall not be creditable against any other amount due to Juno pursuant to this Agreement.
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Non-creditable Payments. All Event Payments made to Maxygen pursuant to this Article 8 shall be non-refundable and shall not be creditable against any other amount due to Maxygen pursuant to this Agreement.
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Non-creditable Payments. All payments to be made by DISTRIBUTOR hereunder are non-creditable and refundable under any circumstances, including but not limited to the termination of this Agreement for whatever reason, except as otherwise provided in this Agreement.
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Related to Non-creditable Payments

  • Ratable Payments If any Lender, whether by setoff or otherwise, has payment made to it upon its Loans (other than payments received pursuant to Section 3.1, 3.2, 3.4 or 3.5) in a greater proportion than that received by any other Lender, such Lender agrees, promptly upon demand, to purchase a portion of the Loans held by the other Lenders so that after such purchase each Lender will hold its ratable proportion of Loans. If any Lender, whether in connection with setoff or amounts which might be subject to setoff or otherwise, receives collateral or other protection for its Obligations or such amounts which may be subject to setoff, such Lender agrees, promptly upon demand, to take such action necessary such that all Lenders share in the benefits of such collateral ratably in proportion to their Loans. In case any such payment is disturbed by legal process, or otherwise, appropriate further adjustments shall be made.

  • Non-Refundable Payments If the Seller accepts non-refundable payment(s) from a prospective Buyer through a purchase contract, and said ▇▇▇▇▇ does not complete the purchase of the Property, such non-refundable payment(s) shall be distributed equally between the Seller and the Agency up to the commission amount the Agency would have collected if the Property had sold under the agreed upon terms. If the Property is sold afterward to the same or different Buyer, the Agency shall be entitled to a Commission less payments received under this Section.

  • Protective Payments If Borrower fails to obtain the insurance called for by Section 6.5 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default.

  • Income Payments (i) If Income is paid in respect of any Purchased Mortgage Loans during the term of a Transaction, such Income shall be the property of Buyer. Seller shall cause the Servicer to remit to the Collection Account all Income in accordance with the related Servicer Side Letter. Upon the occurrence and during the continuance of an Event of Default, within two (2) Business Days of receipt thereof, Seller shall, and shall cause the applicable Servicer to deposit such Income into the account set forth in Section 10(a) hereof. (ii) Notwithstanding any provision to the contrary in this Section 5, within two (2) Business Days after notification of receipt by Seller or Servicer of any prepayment of principal in full, with respect to a Purchased Mortgage Loan, Seller shall or shall cause Servicer to remit such amount directly to the Collection Account in accordance with the related Servicer Side Letter. Buyer shall immediately apply any such amount received to reduce the amount of the Repurchase Price due upon termination of the related Transaction and to the extent no Default or Event of Default has occurred and is continuing, shall promptly remit any excess to Seller; provided, that Buyer shall have no obligation to apply such payments in the event that it is unable to identify the Purchased Mortgage Loans to which such payments correspond. (iii) Provided that no Event of Default has occurred and is continuing, on each Price Differential Payment Date, Buyer shall remit all Income in the Collection Account with respect to the Purchased Mortgage Loans as follows: (A) first, to Buyer, in payment of any accrued and unpaid Price Differential to the extent not paid by Seller to Buyer pursuant to Section 5(b) hereof; (B) second, to Buyer, in the order of priority as determined in accordance with Section 4, in reduction of the Repurchase Price of any liquidation, pay-off or repurchase of any Purchased Mortgage Loan up to the amount advanced by Buyer; (C) third, without limiting the rights of Buyer under Section 7 hereof, to Buyer, in the amount of any unpaid Margin Deficit in excess of the Minimum Margin Threshold; (D) fourth, to the payment of all other Obligations then due and owing to Buyer; and (E) fifth, to, or at the direction of Seller, any remaining amounts. (iv) Notwithstanding the preceding provisions, if an Event of Default has occurred and is continuing, all funds received by Buyer pursuant to this Section 5 shall be applied to reduce Obligations as determined by Buyer in its sole discretion.

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.