RAL Origination System Payment Sample Clauses

RAL Origination System Payment. If HSBC TFS fails to [***], HSBC TFS shall pay to the Block Enterprise Entities an amount, in the aggregate, equal to [***]. All amounts payable under this Section 14.9 accrued during any Tax Period, shall be payable by HSBC TFS on the last Business Day of the month of October in which such Tax Period ends. HSBC TFS shall pay such amounts via ACH credit to an account designated in writing by the Block Enterprise Entities. To the extent any failure by HSBC TFS to maintain the RAL Origination System under this Section 14.9 could not reasonably result in a Material Adverse Effect, the amount paid by HSBC TFS to the Block Companies under this Section 14.9 shall constitute the sole remedy for failure to maintain the RAL Origination System. Not later than the last Business Day of the month of April during such Tax Period, HSBC TFS shall provide true and correct reports to the Block Companies setting forth (a) the number of estimated lost RALs and eRALs for each Block Business Day during the Tax Period, (b) the number of RALs and eRALs originated during each Block Business Day in the previous calendar year and (c) the number of RALs and eRALs originated during each Block Business Day during the Tax Period.
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Related to RAL Origination System Payment

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