PAYMENTS, SET OFF AND DEFAULT INTEREST Sample Clauses

PAYMENTS, SET OFF AND DEFAULT INTEREST. 20.1 The deduction of any sum owed to the Purchaser by or on behalf of any of the Vendors or the deduction of any sum with respect to any Warrantor Liability from the first available Milestone Consideration due will discharge the obligations of the Vendors or the Warrantors’ Liability to pay the sum in question to the extent of the amount so deducted. 20.2 Any cash payment to be made pursuant to this Agreement by the Purchaser to the Vendors shall be made to the Vendors’ Bank Account and any payment to be made by a Vendor to the Purchaser pursuant to this Agreement and not otherwise set off shall be made to the Purchaser’s Bank Account, in each case by way of electronic transfer in immediately available funds on or before the due date for payment. Receipt of such sum in such account on or before the due date for payment shall be a good discharge by the payor of its obligation to make such payment. The Purchaser shall not be concerned with, or have any liability whatsoever with respect to, such apportionment of payments made to the Vendors’ Bank Account among the Vendors or for any failure by the Vendors’ Representative to make such apportionment. 20.3 Where any payment or set off is made in satisfaction of a liability arising pursuant to a warranty, representation, indemnity or covenant under this Agreement it shall be an adjustment to the Total Consideration. 20.4 Unless otherwise stated in this Agreement, all payments made by any party to this Agreement under this Agreement, or any of the other Transaction Documents, shall be made free from any set-off, counterclaim or other deduction or withholding of any nature whatsoever, except for deductions or withholdings required to be made by Law. If any deductions or withholdings for, or on account of, Tax are required by Law to be made from any payments made by any party to this Agreement under this Agreement (other than any payment made pursuant to Clause 3 (Consideration), Schedule 7 (Milestone Consideration) or paragraph 1.1(b) or paragraph 2 of Schedule 3 (Completion Obligations)), the amount of the payment shall be increased by such amount as will, after the deduction or withholding has been made, leave the recipient of the payment with the same amount as it would have been entitled to receive in the absence of any such requirement to make a deduction or withholding. For the avoidance of doubt, the Purchaser may deduct and withhold from any payments or issuance made pursuant to Clause 3 (Consideration) or...
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PAYMENTS, SET OFF AND DEFAULT INTEREST. 14.1 Any payment to be made pursuant to this Agreement by the Purchaser to the Vendor shall be made to the Vendor’s Bank Account and any payment to be made pursuant to this Agreement by the Vendor to the Purchaser shall be made to the Purchaser’s Bank Account, in each case by way of electronic transfer in immediately available funds on or before the due date for payment. Receipt of such sum in such account on or before the due date for payment shall be a good discharge by the payor of its obligation to make such payment. 14.2 All payments made by any party under this Agreement or any of the other Transaction Documents, shall be made free from any set-off, counterclaim or other deduction or withholding of any nature whatsoever, except for deductions or withholdings required to be made as a result of any promulgation, adoption, implementation, repeal, modification, amendment, reinterpretation of or other change in any applicable Law after the date of this Agreement. 14.3 If any sum payable (excluding for these purposes the payment of the Consideration pursuant to Clause 3 (Consideration) under this Agreement) is subject to Tax in the hands of the recipient, the party making that payment shall pay such additional amount as shall ensure that the net amount received by the recipient shall be the amount that the recipient would have received if the payment had not been subject to Tax. 14.4 Where any party defaults in the payment when due of any damages or other sum payable by virtue of this Agreement, the liability of such party shall be increased to include an amount equal to interest on such sum from the date when payment is due to the date of actual payment (both before and after judgment) at a daily rate which is 0.05%. Such interest shall accrue from day to day and shall be payable without prejudice to any other remedy available to non-defaulting party in respect of such payment default.
Sample 1
PAYMENTS, SET OFF AND DEFAULT INTEREST. 19.1 Any payment to be made pursuant to this Agreement by the Purchaser to the Seller shall be made to the Seller’s Bank Account and any payment to be made pursuant to this Agreement by the Seller to the Purchaser shall be made to the Purchaser’s Bank Account, in each case by way of electronic transfer in immediately available funds on or before the due date for payment. Receipt of such sum in such account on or before the due date for payment shall be a good discharge by the payor of its obligation to make such payment. 19.2 All payments made by the Purchaser under this Agreement, or any of the other Transaction Documents, shall be made free from any set-off, except for set-off, counterclaim or other deduction or withholding required to be made by Law or by this Agreement.
Sample 1
PAYMENTS, SET OFF AND DEFAULT INTEREST. Any payment to be made pursuant to this Agreement by the Purchaser to the Sellers, or any of them shall be made to the Pivot Bank Account (or the Company’s bank account with respect to the Strike Portion) and any payment to be made pursuant to this Agreement by the Sellers to the Purchaser shall be made to the Purchaser's bank account, in each case by way of electronic transfer in immediately available funds on or before the due date for payment. Receipt of such sum in such account with a value date on or before the due date for payment shall be a good discharge by the payer of its obligation to make such payment.
Sample 1

Related to PAYMENTS, SET OFF AND DEFAULT INTEREST

  • Post-Default Interest Upon the occurrence, and during the continuance, of any Event of Default, the unpaid principal amount of each Advance shall bear interest at a rate per annum equal at all times to 2% per annum above the rate per annum otherwise required to be paid on such Advance in accordance with subsection (a), (b) or (c) above; provided that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the greater of (x) 2% per annum above the Base Rate in effect from time to time and (y) 2% per annum above the rate per annum required to be paid on such Advance immediately prior to the date on which such amount became due.

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

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