Common use of Payment Defined Clause in Contracts

Payment Defined. The requirement for making payments “fully” as set forth in this Agreement means that the required payment amount must be actually remitted to and received by the Ally Parties in whole, without setoff, recoupment, or netting of any other amounts which are or may be due Dealership by either of the Ally Parties or any affiliate of either of the Ally Parties. This does not include funds actually received by the Ally Parties from or on behalf of Dealership for specific application to a required payment by way of:

Payment Defined. The requirement for making payments “fully” as set forth in this Agreement means that the required payment amount must be either actually remitted to and received by the Ally Parties in whole, without setoff, setoff or recoupment, or netting of any other amounts which are or may be due Dealership credited by either of the Ally Parties or any affiliate of either of the Ally PartiesParties in accordance with the SmartCash Agreement among the Ally Parties and Dealership. This does not include funds actually received by the Ally Parties from or on behalf of Dealership for specific application to a required payment by way of: