Payment Supervision Sample Clauses

Payment Supervision. 1. The Borrower agrees that the Lender has the right to manage and control the payment of the loaned fund through the the methods of entrusted payment by Lender or direct payment by Borrower in accordance with this contract, in order to supervise that the loaned capital is used for the purposes stipulated in this contract. Entrusted payment by Lender means that the Lender, upon the Borrower’s withdrawal applications or payment entrustment, pays the loaned fund to the business counterpart of the Borrower with the usage stipulated in this contract through the Borrower’s account. Direct payment by the Borrower means that the Lender grants the loaned fund into the Borrower’s account based on the withdrawal application; the Borrower pays directly to the counterpart with the usage stipulated in this contract.
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Payment Supervision. 1. The Borrower agrees that, the Creditor is entitled to perform management and control for the payment of the loan capital through the ways of “payment by the creditor upon authorization” or/and “payment by borrower itself”, so to supervise the usage of the loan is in accordance with this Agreement. The expression “payment by the creditor upon authorization” refers to the act that the Creditor pays the loan fund to the counterparty of the Borrower in a transaction conforming to the purpose stipulated in the Agreement according to the Borrower’s application for drawing money and its payment authorization. The expression “payment by the borrower itself” refers to the act that the Borrower pays the loan fund to the counterparty of the Borrower in a transaction after the loan fund is granted by the Creditor to the Borrower’s account upon its application for withdrawal.
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Payment Supervision. 5.1 Party A agrees that Party B has the right to monitor and control the entrusted payment or direct payment, to ensure the use of the loan is within the scope of agreed purpose. Entrusted payment is the payment method where Party B will, upon and in accordance with drawdown application and payment entrustment issued by Party A, pay the proceeds of the financing to the relevant payees of Party A for agreed purposes. Direct payment is the payment method where Party B will, upon the drawdown application issued by Party A, pay the proceeds of the financing to Party A’s account and Party A will make the payment directly to the relevant payees of Party A for agreed purposes.
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Payment Supervision. 1. The Borrower agrees that the Lender shall have the right to manage and control the payment of the loan capital through payment on behalf or/and independent payment, to monitor the loan capital to be used according to its purpose hereunder. Payment on behalf represents that the Lender pay the trading partner of the Borrower corresponding to the purpose of the loan hereunder through the Borrower’s account, according to the Borrower’s withdrawal application and payment commission. Independent payment represents that the Borrower pay the trading partner by himself corresponding to the purpose of the loan hereunder after the Lender release the loan capital to the Borrower’s account according to the Borrower’s withdrawal application.
Sample 1

Related to Payment Supervision

  • Board Supervision All of the functions undertaken by the Investment Manager hereunder shall at all times be subject to the direction of the Board of Directors, its executive committee, or any committee or officers of the Company acting under the authority of the Board of Directors.

  • Supervision Bank shall supervise the performance of its employees of custodial services provided in connection with this Agreement. Bank shall provide appropriate training for employees and implement supervisory procedures for all services provided hereunder by its employees.

  • Supervision Fee Each Restaurant shall pay to the General Partner or its designee a fee (“Supervision Fee”) in consideration for the supervision and services provided by the General Partner or such designee. The initial Supervision Fee shall be established by the Company and shall be either a flat fee per Restaurant or a specified percentage of each Restaurant’s gross sales. The Supervision Fee shall be reviewed on an annual basis by the Company and may be increased or decreased by the Company from time to time in accordance with the Company’s criteria for establishing such fees for company owned restaurants.

  • Appointment of Contractor The Company hereby appoints the Contractor to perform the Services for the benefit of the Company as hereinafter set forth, and the Company hereby authorizes the Contractor to exercise such powers as provided under this Agreement. The Contractor accepts such appointment on the terms and conditions herein set forth.

  • Agreement Not a Contract for Services Neither the Plan, the granting of the Restricted Shares, this Restricted Share Agreement nor any other action taken pursuant to the Plan shall constitute or be evidence of any agreement or understanding, express or implied, that the Participant has a right to continue to provide services as an officer, director, employee, consultant or advisor of the Company or any Subsidiary or Affiliate for any period of time or at any specific rate of compensation.

  • Tax Administration (a) The Trustee is hereby appointed as attorney-in-fact and agent for the initial Tax Matters Person; provided, that the Trustee may appoint, and hereby does so appoint, the Certificate Administrator as attorney-in-fact and agent for the Tax Matters Person. The Trustee may, by written notice delivered to the Certificate Administrator, revoke the appointment of the Certificate Administrator as attorney-in-fact and agent for the Tax Matters Person, in which case the Trustee shall act in such capacity.

  • Independent Contractor; Authority Notwithstanding the Services provided by the Administrator pursuant to this Agreement, the Administrator shall be deemed to be an independent contractor with respect to the Services. The management, policies and operations of the Parties (including the ultimate approval of the making or disposition of the Painting by the Issuer or Masterworks Cayman, and the terms and conditions thereof) shall be the responsibility of the Parties other than the Administrator.

  • Direction to Account Debtors; Contracting Parties; etc Subject to the Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default (but without limiting the provisions of the Credit Agreement), if the Collateral Agent so directs any Grantor, such Grantor agrees (x) to cause all payments on account of the Accounts and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Accounts and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x), and (z) that the Collateral Agent may enforce collection of any such Accounts and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as such Grantor. Subject to the Intercreditor Agreement, without notice to or assent by any Grantor, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account toward the payment of the Obligations in the manner provided in Section 5.4 of this Agreement. The reasonable out-of-pocket costs and expenses of collection (including reasonable out-of-pocket attorneys’ fees), whether incurred by a Grantor or the Collateral Agent, shall be borne by the relevant Grantor. The Collateral Agent shall deliver a copy of each notice given to any such obligors referred to in the preceding clause (y) to the relevant Grantor, provided that (x) the failure by the Collateral Agent to so notify such Grantor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 3.3 and (y) no such notice shall be required if an Event of Default of the type described in Section 8.01(f) of the Credit Agreement has occurred and is continuing.

  • Subcontractor Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly understood by participants in the mortgage-backed securities market) of Mortgage Loans but performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority of the Servicer or a Subservicer.

  • Enforcement of Servicer’s and Master Servicer’s Obligations (a) Each Servicing Agreement requires the applicable Servicer, respectively, to service the Mortgage Loans in accordance with the provisions thereof. References in this Agreement to actions taken or to be taken by the Master Servicer include actions taken or to be taken by a Servicer on behalf of the Master Servicer. Any fees and other amounts payable to a Servicer shall be deducted from amounts remitted to the Master Servicer by such Servicer to the extent permitted by the applicable Servicing Agreement and shall not be an obligation of the Trust Fund, the Trustee or the Master Servicer.

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