Payment and Security. The Security Trustee or any other Finance Parties may retain and pay out of any money in the hands of the Security Trustee or such Finance Party all sums necessary to effect the indemnity contained in this Clause and all sums payable by any Chargor under this Clause shall form part of the monies hereby secured.
Payment and Security. 35.1 The Employer will provide an Advance Payment on the Contract Price as stipulated in the Conditions of Contract, subject to maximum amount, as stated in the Contract Data.
Payment and Security. The Security Trustee or the Receiver may retain and pay out of any money in the hands of the Security Trustee or the Receiver all sums necessary to effect the indemnity contained in this Clause and all sums payable by the Mortgagor under this Clause shall form part of the monies hereby secured.
Payment and Security. The Security Agent and any Receiver may retain and -------------------- pay out of any money in the Security Agent's or (as the case may be) Receiver's hands all sums necessary to effect the payments, obligations and indemnities contained in Clause 11 (Costs, Charges and Expenses) and Clause 12 (Indemnities and Currencies) and all sums payable by any Obligor under Clause 11 and Clause 12 shall form part of the monies hereby secured. Facility Agreement dated October 30,2000 Schedule 6
Payment and Security. 35.1 The Employer will provide an Advance Payment on the Contract Price as stipulated in the Conditions of Contract, subject to maximum amount, as stated in the Contract Data. The Employer shall make mobilization advance payment to the Contractor an amount of 5% of the contract price, against provision by the Contractor of irrevocable Bank Guarantee in a form and by a bank acceptable to the Employer in amounts and currencies equal to the advance payment. The guarantee shall remain effective until the advance payment has been repaid, but the amount of the guarantee shall be progressively reduced by the amounts repaid by the contractor. Interest will be charged at an interest rate 14.5% on the advance payment. The Contractor is to use the advance payment only to pay for Equipment, Plant and Mobilisation expenses required specifically for execution of the works. The contractor shall demonstrate that advance payment has been used in this way by supplying copies of invoices or other documents to the Engineer. The advance payment shall be repaid by deducting proportionate amounts from payments otherwise due to the Contractor, following the schedule of completed percentages of the works on a payment basis. No account shall be taken of the advance payment or its repayment in assessing valuations of work done.
Payment and Security. 6.1 The Supplier has the right to invoice from the moment of formation of an Agreement. Unless expressly agreed otherwise in writing, payment shall be made within 30 calendar days of the invoice date. Payment must be made in GBP and without any set-off, discount and/or suspension.
6.2 In the event of late payment of an invoice, the Customer, without any notice of default, will be in default and all payment obligations of the Customer will immediately become due and payable, without prejudice to the other rights accruing to Supplier. This is also the case if the Customer files a petition for its own liquidation, if a petition for its liquidation is filed or if the Customer is declared to be in a state of liquidation or if the Customer applies for a moratorium, if a moratorium for the Customer is applied for or if a moratorium is granted to the Customer.
6.3 In the event of late payment of an invoice, the Supplier may, without limiting its other rights:
a. charge interest on such sums at 5% a year above the base rate of Lloyds Bank from time to time in force. Interest shall accrue on a daily basis and apply from the due date for payment until actual payment in full, whether before or after judgment;
b. suspend any deliveries to the Customer in whole or in part; and/or
c. cancel the Agreement.
6.4 Payments made by the Customer shall first of all serve to settle any payable interest and costs and subsequently the longest outstanding payable invoices, even if the Customer should state that the payment is related to a subsequently sent invoice.
6.5 At the time of conclusion of the Agreement or after conclusion of the Agreement, Supplier has the right to require advance payment from the Customer or proper security, in whole or in part, for the fulfilment of the obligations of the Customer under the Agreement, in the form of a bank guarantee or a reasonably equivalent security and Supplier has the right, until this security has been provided, to suspend its obligations towards the Customer.
Payment and Security. 13.1 Forestry Tasmania will be entitled to demand, by way of invoice, payment for a Billet as soon as the Purchaser or its agent has taken possession of that Billet. Forestry Tasmania will use reasonable endeavours to provide an invoice, supported by the relevant dockets, to the Purchaser within five Business Days of the end of the month in which supply was made.
13.2 The Purchaser must pay any amount due within fifteen days from the end of the month within which the Billets to which the amount due refers were made available to the Purchaser.
13.3 In order to secure the Purchaser’s performance of its obligations under this Contract, the Purchaser must provide security to Forestry Tasmania as follows:
(a) the security must be provided by way of a bank guarantee:
(i) for an amount equivalent to the amount payable under this Contract for seven weeks’ Nominated Monthly Supply of Billets; and
(ii) in a form and from an Australian bank reasonably acceptable to Forestry Tasmania.
(b) Forestry Tasmania may draw down on the Performance Guarantee to satisfy any amount overdue according to an invoice issued by Forestry Tasmania for a payment to be made by the Purchaser under this Contract or at law.
(c) Drawing on the Performance Guarantee by Forestry Tasmania will not prevent Forestry Tasmania from seeking alternative or additional remedies.
(d) If Forestry Tasmania draws down on the Performance Guarantee then, no later than five Business Days after Forestry Tasmania gives the Purchaser a notice asking for it, the Purchaser must deliver to Forestry Tasmania a replacement or additional bank guarantee so that the amount available under the Performance Guarantee is equivalent to the amount referred to in Clause 13.3(a)(i).
13.4 Forestry Tasmania may at any time during this Contract by notice require the Purchaser to implement an arrangement with a bank to provide a direct debit system, approved by Forestry Tasmania and the Purchaser, for the immediate payment of Forestry Tasmania’s accounts upon request by Forestry Tasmania of the bank. At all times the Purchaser must ensure that sufficient money is available in the relevant account to meet its payments to Forestry Tasmania.
13.5 If any amount payable to Forestry Tasmania by the Purchaser is not paid within the time specified for that payment, then:
(a) the Purchaser must still pay that amount to Forestry Tasmania; and
(b) the Purchaser shall pay Interest at the Default Rate on the unpaid amount in accordance with Clau...
Payment and Security. The Junior Lender may retain and pay out of any money in the Junior Lender's hands all sums necessary to effect the indemnity contained in this Clause 11 and all sums payable by the Borrower under this Clause 11 shall form part of the monies hereby secured.
Payment and Security. 6.1. The Supplier has the right to invoice from the moment of formation of an Agreement. Unless expressly agreed otherwise in writing, payment shall be made within 30 calendar days of the invoice date. Payment must be made in the currency agreed and without any set-off, discount and/or suspension.
6.2. In the event of late payment of an invoice, the Customer, without any notice of default, will be in default and all payment obligations of the Customer will immediately become due and payable, without prejudice to the other rights accruing to Supplier. This is also the case if the Customer files a petition for its own liquidation, if a petition for its liquidation is filed or if the Customer is declared to be in a state of liquidation or if the Customer applies for a moratorium, if a moratorium for the Customer is applied for or if a moratorium is granted to the Customer.
6.3. In the event of late payment of an invoice, the Customer shall pay the statutory commercial interest, plus 2% on the invoice amount, from the due date of the invoice. In addition, all extrajudicial and judicial costs reasonably incurred by Supplier in the context of the non- performance by the Customer shall be borne by the Customer, such with a minimum of 15% of the principal sum due (including VAT), which minimum payment must (also) be considered to be an incentive for the Customer to fulfil its (payment) obligations.
6.4. Payments made by the Customer shall first of all serve to settle any payable interest and costs and subsequently the longest outstanding payable invoices, even if the Customer should state that the payment is related to a subsequently sent invoice.
6.5. At the time of conclusion of the Agreement or after conclusion of the Agreement, Supplier has the right to require advance payment from the Customer or proper security, in whole or in part, for the fulfilment of the obligations of the Customer under the Agreement, in the form of a bank guarantee or a reasonably equivalent security and Supplier has the right, until this security has been provided, to suspend its obligations towards the Customer.
Payment and Security. Payment shall be made for of each partial delivered consignment.
