Payment Confirmations Sample Clauses
The Payment Confirmations clause requires parties to verify and acknowledge the receipt of payments made under the agreement. Typically, this involves one party providing written or electronic confirmation to the other upon receiving funds, ensuring both sides have a clear record of completed transactions. This clause helps prevent disputes over whether payments have been made or received, thereby promoting transparency and accountability in financial dealings.
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Payment Confirmations. Subject to Clause 2.2 the Lender hereby agrees that pursuant to Article X,4 of the Contract it will:
2.7.1 issue an irrevocable confirmation letter substantially in the form set forth at Appendix C;
2.7.2 issue an irrevocable payment letter to the Builder substantially in the form set forth at Appendix D; and
2.7.3 advise the Builder’s bank of the details of the Drawing advanced by the Lender in respect of the fifth Instalment pursuant to Article X,4(b) of the Contract.
Payment Confirmations. Each of the Sellers shall instruct the bank maintaining the respective Seller's Bank Account to confirm immediately upon receipt of payment of sums equal to the sums indicated in Section 5.6 such receipt by telefax (the "Payment Confirmations").
Payment Confirmations. The Seller will instruct its bank to confirm the credit entry of the Preliminary Total Purchase Price by telefax with copy to the Purchaser and the acting notary. The Seller and the Purchaser will instruct their bank to confirm the credit entry of any other payment made in accordance with this Agreement by telefax with copy to the respective other Party.
Payment Confirmations. Sellers shall instruct the banks maintaining Sellers' Bank Account, and the Parties shall jointly instruct the Escrow Agent (defined in Section 4.3.1), to confirm immediately upon receipt (final credit to Sellers' Bank Account and final credit to the Escrow Account - endgultige Gutschrift) of payment of sums equal to the Initial Cash Payment Amount and the Escrow Amount, respectively, such receipt to be made by telefax and to be addressed to all Parties (the "PAYMENT CONFIRMATIONS").