Common use of Prepayment of Total Charge Amount by Owner Clause in Contracts

Prepayment of Total Charge Amount by Owner. ‌ (a) Council must, within 10 Business Days after it has received cleared funds from the Owner for any Prepayment, distribute that Prepayment (other than Administrative Costs included in that Prepayment) to the Lending Body by way of electronic transfer.‌ (b) Council is not liable to the Lending Body or any other person under this clause 5.6 for any amounts other than those received or recovered by Council as cleared funds for Prepayments.

Prepayment of Total Charge Amount by Owner. ‌ (a) Council must, within 10 5 Business Days after it has received cleared funds from the Owner for any Prepayment, distribute that Prepayment (other than Administrative Costs included in that Prepayment) to the Lending Body by way of electronic transfer.‌ (b) Council is not liable to the Lending Body or any other person under this clause 5.6 for any amounts other than those received or recovered by Council as cleared funds for Prepayments.