Common use of Payment of Accounts Clause in Contracts

Payment of Accounts. 7.1. All payments received in the Blocked Account in respect of the Accounts will be promptly applied to your account with us after crediting your customer’s account. The Blocked Account shall be subject to the Blocked Account Agreement to be entered into between you, the Blocked Account Bank, the SPV and the Agent (as amended and supplemented, the “Blocked Account Agreement”). With respect to any CIT Risk Account that has become past due, or with respect to which a customer has undergone an adverse change in its financial condition or business prospects, or has called a meeting of creditors or ceased to do business, we shall have the right at any time in such an instance, at our sole option, to purchase the Accounts of the customer from the SPV (which right shall be in addition to our obligation, if any, to purchase such Account pursuant to the Purchase Provisions), subject to Section 9.1 below, by paying the Purchase Price of the customer’s CIT Risk Accounts to the Blocked Account, regardless of whether payment on such CIT Risk Accounts has been received from the customer, and regardless of whether any of the circumstances described in Section 7.2 below have occurred. The Blocked Account Agreement shall additionally provide, among other considerations, for the receipt by us, in form and substance and in a timely manner acceptable to us in all respects, of all such information as we may require in order for us to fully comply with and perform under this Agreement. 7.2. We shall pay the amount of the Purchase Price of any CIT Risk Account to the Blocked Account as of the earlier of the following dates: (a) the date of the CIT Risk Account’s longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or (b) the last day of the third month following the longest maturity date of the CIT Risk Account if such Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) above. If we have purchased any CIT Risk Account and such Account was not paid for any reason other than Credit Risk, we shall reverse the credit and chargeback the Account accordingly and such Account shall then be deemed to be a Client Risk Account.

Payment of Accounts. 7.1. 7.1 All payments received in the Blocked Account in respect of by us on the Accounts will be promptly applied and credited to your account with us after crediting your customer’s account. The Blocked In exchange for such application, we shall charge your account monthly with the cost of two (2) additional business days on all such amounts, at the rate charged by us in section 14.1 below on debit balances. All amounts applied and credited to your account, less any amounts due to us under this Agreement, will be transferred and disbursed to you on the same day that such funds were applied and credited to your account. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected. All collections and payments received on the Accounts (a) shall be subject applied as set forth in the remittance advice or other written direction from the applicable customer and, (b) if no such remittance advice or written direction is provided, we shall consult with you and/or the applicable customer to determine the Blocked Account Agreement to be entered into between you, the Blocked Account Bank, the SPV allocation of such collections and the Agent (as amended and supplemented, the “Blocked Account Agreement”)payments. With respect to any CIT Factor Risk Account that has become past due, or with respect to which a customer has undergone an adverse change in its financial condition or business prospects, or has called a meeting of creditors or ceased to do business, we shall have the right at any time in such an instance, at our sole option, to purchase all the Factor Risk Accounts of the customer from the SPV (which right shall be in addition to our obligation, if any, to purchase such Account pursuant to the Purchase Provisions), subject to Section 9.1 belowyou, by paying the Purchase Price of the customer’s CIT Factor Risk Accounts to the Blocked Accountyou, regardless of whether payment on such CIT Factor Risk Accounts has have been received by us from the customer, and regardless of whether any of the circumstances described in Section section 7.2 below have occurred. The Blocked Account Agreement shall additionally provide, among other considerations, for the receipt by us, in form and substance and in a timely manner acceptable to us in all respects, of all such information as we may require in order for us to fully comply with and perform under this Agreement. 7.2. We shall pay the 7.2 The amount of the Purchase Price of any CIT Factor Risk Account which remains unpaid will be credited to the Blocked Account your account and promptly paid to you as of the earlier of the following dates: (a) the date of the CIT Factor Risk Account’s longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or (b) the last day of the third month following the Factor Risk Account’s longest maturity date of the CIT Risk Account if such Factor Risk Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) above. If we have purchased any CIT Factor Risk Account and such Account credited to you was not paid for any reason other than Credit Risk, we shall reverse the credit and chargeback the Account charge your account accordingly and such Account shall then be deemed to be a Client Risk Account. 7.3 Concurrently and automatically, upon your actual receipt of payment by us in accordance herewith of the Purchase Price for any Factor Risk Accounts, we shall purchase, and you shall transfer absolute ownership to us of, all such Factor Risk Accounts. A mere entry on our books of payment or the creation of a credit balance shall not itself constitute your receipt of payment for such purposes.

Payment of Accounts. 7.1. All payments 6.1 Checks and other proceeds received by us in the Blocked Account in respect payment of the Accounts will be promptly applied to your account with us after crediting your customer’s 's account, provided, however, that we shall debit your account monthly with the cost of two (2) additional days on all such Accounts, computed at the rate of interest set forth in Section 2.05 of the Credit Agreement. The Blocked Account Purchase Price of Accounts for Accounts with respect to which such remittances have been received and applied by us, less any amounts chargeable by us hereunder, after application by us to your customer's account, shall be subject credited upon such receipt to your Accounts Receivable Account (as defined below). At the Blocked Account Agreement to be entered into between youend of each month, the Blocked amount in your Funds-in-Use Account Bank, the SPV and the Agent (as amended defined below) shall be transferred and supplemented, credited at the “Blocked end of such month to your Loan Account (as defined in the Credit Agreement”). No checks, drafts or other instruments received by us shall constitute final payment of an Account unless and until such instruments have actually been collected. 6.2 With respect to any CIT Factor Risk Account that has become past duewhich remains unpaid, or with respect to which a customer has undergone an adverse change in its financial condition or business prospects, or has called a meeting of creditors or ceased to do business, we shall have the right at any time in such an instance, at our sole option, to purchase the Accounts of the customer from the SPV (which right shall be in addition to our obligation, if any, to purchase such Account pursuant to the Purchase Provisions), subject to Section 9.1 below, by paying the Purchase Price of the customer’s CIT Risk Accounts relating thereto shall be credited to the Blocked Account, regardless of whether payment on such CIT Risk Accounts has been received from the customer, and regardless of whether any of the circumstances described in Section 7.2 below have occurred. The Blocked Account Agreement shall additionally provide, among other considerations, for the receipt by us, in form and substance and in a timely manner acceptable to us in all respects, of all such information your account as we may require in order for us to fully comply with and perform under this Agreement. 7.2. We shall pay the amount of the Purchase Price of any CIT Risk Account to the Blocked Account as of the earlier of the following datesfollows: (a) as of the date of the CIT Risk Account’s 's longest maturity maturity, if such customer: makes an assignment for the benefit of creditors; calls a meeting of its creditors, institutes any proceeding to compromise or adjust its debts, or if any proceeding or petition is filed or instituted by or against the such customer for relief under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or (b) as of the last day of the third month following the its longest maturity date of the CIT Risk Account date, if such Account remains unpaid as of said date without the occurrence happening of any of the events specified in clause (a) abovehereinabove. If we have purchased Should it subsequently be determined that any CIT Factor Risk Account and such Account credited to your account with us was not paid for any reason other than Credit Riskthe customer's financial inability to do so, we shall reverse the credit and chargeback the Account accordingly and such Account shall then be deemed to be a Client Risk Accountdebit your account accordingly.

Payment of Accounts. 7.1We will send you regular monthly bills and/or statements which will set out the amount payable by you and the balance on your account. You will pay the amount due in accordance with the method of payment agreed between us. If anyone else uses the Energy supplied to the Supply Point, You shall be responsible for paying the Energy Charges Incurred. Failure to pay your bill can lead to disconnection of your supply. You must pay Us the cost of the electricity supplied to each supply point, or for any bill which is based on an estimated Meter reading during the billing period (plus VAT), and any other taxes or charges which may be applicable to the Price Plan You have chosen. Unless we have agreed otherwise (such as with pay as you go products etc), every bill, including bills based on estimated Meter readings, is payable before or on the date specified on the bill. You must pay your bill to the specific payment conditions of Your Price Plan You must also pay us for any amount or charges which are specified on the bill as other services that we have agreed to provide to you. You must pay us for any site works that we or you have requested to be carried out at your premises and for which we have been charged by the DSO. If you pay us by direct debit, we reserve the right to change our direct debit collection date and we will notify you in advance of doing this. All payments received in sums due to us under the Blocked Account in respect of Agreement must be paid without deduction or set-off. If you do not pay us any sum due under the Accounts Agreement You may be liable to pay us a late payment fee. If any fee is applicable you will be promptly applied able to find information on it in your welcome information, on our website where our price and plans are located or by calling our contact centre. If you have an account with us after crediting your customer’s account. The Blocked Account shall be subject to the Blocked Account Agreement to be entered into between you, the Blocked Account Bank, the SPV and the Agent (as amended and supplemented, the “Blocked Account Agreement”). With respect to any CIT Risk Account that has become past due, or with respect to which a customer has undergone an adverse change in its financial condition or business prospects, or has called a meeting of creditors or ceased to do businessat another residential premise, we shall have the right at may transfer any time in such an instance, at our sole option, to purchase the Accounts of the customer from the SPV (which right shall be in addition to our obligation, if any, to purchase such Account pursuant to the Purchase Provisions), subject to Section 9.1 below, by paying the Purchase Price of the customer’s CIT Risk Accounts to the Blocked Account, regardless of whether payment on such CIT Risk Accounts has been received from the customer, and regardless of whether any of the circumstances described in Section 7.2 below have occurred. The Blocked Account Agreement shall additionally provide, among other considerations, for the receipt by us, in form and substance and in a timely manner acceptable to us in all respects, of all such information as we may require credit or debit between your accounts in order for us to fully comply with recover money You owe Us. Further information on billing and perform under this Agreementpayment options can be found in our Codes of Practice. 7.2. We shall pay the amount of the Purchase Price of any CIT Risk Account to the Blocked Account as of the earlier of the following dates: (a) the date of the CIT Risk Account’s longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or (b) the last day of the third month following the longest maturity date of the CIT Risk Account if such Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) above. If we have purchased any CIT Risk Account and such Account was not paid for any reason other than Credit Risk, we shall reverse the credit and chargeback the Account accordingly and such Account shall then be deemed to be a Client Risk Account.

Payment of Accounts. 7.1We will send you regular monthly invoices and/or statements which will set out the amount payable by you and the balance on your account. You will pay the amount due in accordance with the method of payment agreed between us. If anyone else uses the Energy supplied to the Supply Point, You shall be responsible for paying the Energy Charges Incurred. You must pay Us the cost of the electricity supplied to each supply point, or for any bill which is based on an estimated Meter reading during the billing period (plus VAT), and any other taxes or charges which may be applicable to the Price Plan You have chosen. Unless we have agreed otherwise (such as with pay as you go products etc), every bill, including bills based on estimated Meter readings, is payable on the date specified on the bill. You must also pay us for any amount or charges which are specified on the bill as other services that we have agreed to provide to you. You must pay us for any site works that we or you have requested to be carried out at your premises and for which we have been charged by the DSO. You must pay your bill to the specific payment conditions of Your Price Plan. If you pay us by direct debit, we reserve the right to change our direct debit collection date and we will notify you in advance of doing this. All payments received in sums due to us under the Blocked Account in respect of Agreement must be paid without deduction or set-off. If you do not pay us any sum due under the Accounts will Agreement You may be promptly applied liable to your pay us a late payment fee or interest from the due date, accruing on a daily basis until payment is made. If you have an account with us after crediting your customer’s account. The Blocked Account shall be subject to the Blocked Account Agreement to be entered into between you, the Blocked Account Bank, the SPV and the Agent (as amended and supplemented, the “Blocked Account Agreement”). With respect to any CIT Risk Account that has become past due, or with respect to which a customer has undergone an adverse change in its financial condition or business prospects, or has called a meeting of creditors or ceased to do businessat another residential premise, we shall have the right at may transfer any time in such an instance, at our sole option, to purchase the Accounts of the customer from the SPV (which right shall be in addition to our obligation, if any, to purchase such Account pursuant to the Purchase Provisions), subject to Section 9.1 below, by paying the Purchase Price of the customer’s CIT Risk Accounts to the Blocked Account, regardless of whether payment on such CIT Risk Accounts has been received from the customer, and regardless of whether any of the circumstances described in Section 7.2 below have occurred. The Blocked Account Agreement shall additionally provide, among other considerations, for the receipt by us, in form and substance and in a timely manner acceptable to us in all respects, of all such information as we may require credit or debit between your accounts in order for us to fully comply with recover money You owe Us. Further information on billing and perform under this Agreement. 7.2. We shall pay the amount payment options can be found in our Codes of the Purchase Price of any CIT Risk Account to the Blocked Account as of the earlier of the following dates: (a) the date of the CIT Risk Account’s longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or (b) the last day of the third month following the longest maturity date of the CIT Risk Account if such Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) above. If we have purchased any CIT Risk Account and such Account was not paid for any reason other than Credit Risk, we shall reverse the credit and chargeback the Account accordingly and such Account shall then be deemed to be a Client Risk Account.Practice

Payment of Accounts. 7.1. 7.1 All payments received in the Blocked Account in respect of by us on the Accounts will be promptly applied to your account with us after crediting your customer’s 's account. The Blocked Upon receipt by us of any remittances made in respect of the Accounts, all such remittances received and applied by us, less any amounts due us hereunder, will be transferred and disbursed to you as follows: (i) on Monday of the following week (or on the next business day thereafter, if that Monday is not a business day) for payments applied by us on the previous Friday, (ii) on Wednesday of the same week (or on the next business day thereafter, if that Wednesday is not a business day) for payments applied by us on Monday and Tuesday of any week, and (iii) on Friday of the same week (or on the next business day thereafter, if that Friday is not a business day) for payments applied on Wednesday and Thursday of any week. No checks, drafts or other instruments received by us will constitute final payment of an Account shall be subject to the Blocked Account Agreement to be entered into between you, the Blocked Account Bank, the SPV unless and the Agent (as amended and supplemented, the “Blocked Account Agreement”)until such items have actually been collected. With respect to any CIT Factor Risk Account that has become past due, or with respect to which a customer has undergone an adverse change in its financial condition or business prospects, or has called a meeting of creditors or ceased to do business, we shall have the right at any time in such an instance, at our sole option, to purchase the Accounts of the customer from the SPV (which right shall be in addition to our obligation, if any, to purchase such Account pursuant to the Purchase Provisions)you, subject to Section section 9.1 below, by paying the Purchase Price of the customer’s CIT Factor Risk Accounts to the Blocked Accountyou, regardless of whether payment on such CIT Factor Risk Accounts has have been received by us from the customer, and regardless of whether any of the circumstances described in Section section 7.2 below have occurred. The Blocked Account Agreement shall additionally provideoccurred (herein collectively, among other considerations, for the receipt by us, in form and substance and in a timely manner acceptable to us in all respects, of all such information as we may require in order for us to fully comply with and perform under this Agreement“CIT Optional Purchase Provisions”). 7.2. 7.2 We shall pay purchase any Factor Risk Account and the amount of the Purchase Price of any CIT Factor Risk Account will be credited to the Blocked Account your account and promptly paid to you as of the earlier of the following dates: (a) the date of the CIT Factor Risk Account’s 's longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or (b) the last day of the third month following the Account’s longest maturity date of the CIT Risk Account if such Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) aboveabove (the foregoing, herein collectively, the “Client Mandatory Purchase Provisions”). If we have purchased any CIT Factor Risk Account and such Account credited to you was not paid for any reason other than Credit Risk, we shall reverse the credit and chargeback the Account charge your account accordingly and such Account shall then be deemed to be a Client Risk Account.