Payment in Trust. Any payment received by Subcontractor shall be held in trust for the payment of its sub- subcontractors and suppliers, and Subcontractor shall pay its sub-subcontractors and suppliers within seven (7) days of receipt of payment from Contractor that includes amounts due to such sub-subcontractors and suppliers.
Payment in Trust. On or before the Completion Date, the District must pay the adjusted Purchase Price to the District’s solicitors and the Owner hereby irrevocably directs the District to cause the District’s solicitors to pay the adjusted Purchase Price to the Owner’s solicitors and this direction shall constitute good and sufficient authority for doing so.
Payment in Trust. On or before the Closing Date the Optionee shall pay to the Optionee’s Solicitors in trust the balance of the Purchase Price (adjusted in accordance with section 3.1), after deducting the Option Fee (or part thereof paid by the Optionee to the Owner). The Owner irrevocably directs the Optionee to cause the Optionee’s Solicitors to pay the adjusted Purchase Price to the Owner’s Solicitors to the extent contemplated in this Article 6 and this shall be its good and sufficient authority for so doing.
Payment in Trust. On or before the Closing Date, the Purchaser will pay to the Purchaser’s Solicitors in trust the amount due to QLT pursuant to Section 2.2(b), as adjusted pursuant to Article 6, together with any other amounts payable by the Purchaser or the Purchaser’s Solicitors on or after the Closing Date pursuant to this Agreement under Sections 10.11, 11.5 and, if applicable, 11.8, less the amount to be advanced to the Purchaser on the Closing Date under any mortgage financing arranged by the Purchaser.
Payment in Trust. On or before the Closing Date the Purchaser will pay to the Purchaser's solicitors in trust the amount due to the Vendor under paragraph 2.1(c), less the amount to be advanced to the Purchaser on the Closing Date under any mortgage financing arranged by the Purchaser.
Payment in Trust. On or before the Completion Date, the Purchaser will pay to the Purchaser’s Solicitors in trust the amount due to the Vendor pursuant to subsection 2.3(c), as adjusted pursuant to section 3.3, less the amount to be advanced to the Purchaser on the Completion Date under any mortgage financing arranged by the Purchaser.
Payment in Trust. On or before the Closing Date, the Purchaser will pay to the Purchaser’s Solicitors in trust the amount due to the Vendors pursuant to Section 2.2(b), as adjusted pursuant to Article 6, together with any other amounts payable by the Purchaser or the Purchaser’s Solicitors on or after the Closing Date pursuant to this Agreement under Sections 10.11, 11.5 and, if applicable, 11.8, less the amount to be advanced to the Purchaser on the Closing Date under any mortgage financing arranged by the Purchaser.
Payment in Trust. On or before the Closing Date the Purchaser shall pay to the Purchaser’s Solicitors in trust the Balance, or if part of the Purchase Price is to be provided from mortgage funds, the Purchaser will deliver to its solicitors a bank draft or certified cheque for the Balance less the mortgage funds.
Payment in Trust. Not less than three (3) days before the Completion Date, the Purchaser will pay the Unpaid Balance to the Purchaser's solicitor by cash, certified cheque or bank draft. If the Purchaser will be relying on a new mortgage to finance a portion of the Purchase Price, the Purchaser, while still required to pay the Unpaid Balance on the Completion Date, may wait to pay same until after the Form A and mortgage documents have been lodged for registration at the appropriate Land Title Office, but only if before lodging against title to the Strata Lots, the Purchaser has:
(a) deposited in trust with the Purchaser's solicitor the Unpaid Balance less the portion of the Purchase Price being financed by the new mortgage;
(b) fulfilled all the new mortgagee's conditions for funding except lodging for registration; and
(c) advised the Vendor that the Purchaser's solicitor has received the assurances of the new mortgagee that funds will be advanced in the normal course of business on the basis of pending registration. In addition, the Purchaser will have:
(a) made available to the Vendor a written undertaking from the Purchaser's solicitor to pay on the Completion Date the adjusted Purchase Price upon lodging of the Form A and the new mortgage documents (if applicable) and upon the advance by the new mortgagee of the mortgage proceeds; and
(b) made available to the Vendor a satisfactory undertaking to withdraw the Form A and the new mortgage (if applicable) on demand to do so being made by the Vendor.
Payment in Trust. The Administrative Agent and each of the ---------------- Banks (or a trustee, representative, or agent acting on their behalf) will be obligated to hold in trust for, and to pay over promptly to, the holders of the Senior Obligations (or one or more trustees, representatives, or agents acting on their behalf) all payments and distributions received by the Administrative Agent or such Bank in contravention of the restrictions contained in this Article X; provided, however, that notwithstanding such restrictions, the Administrative Agent and the Banks shall be entitled to receive and to retain any and all payments (a) made in securities of the Borrower provided the same are subordinated to the Senior Obligations at least to the same extent as the Obligations or (ii) made in accordance with any relevant court order respecting the subordination provided for herein.
