Rental Manager’s Right - Non-Payment of Deficits Sample Clauses

Rental Manager’s Right - Non-Payment of Deficits. If any deficit for which a Participating Owner has been invoiced in accordance with this Agreement remains unpaid at the end of the next succeeding calendar month, the Rental Manager shall, in its sole discretion, have the right to refuse to make any further payments for the account of that Managed Unit. If the Rental Manager chooses to exercise this discretion, the Rental Manager shall send written notice of this intention to the Participating Owner. If and for so long as any deficit for which a Participating Owner has been invoiced, in accordance with this Agreement, remains unpaid, the Rental Manager shall apply all amounts allocated to the Managed Unit, in accordance with Article 5.3 to reduce or eliminate the amount of such deficit. The balance, if any, after payment of the deficit shall be applied in accordance with Article 5.4, but the Rental Manager shall not be obliged to pay any amount in excess of the credit balance allocated to the Managed Unit, and shall not be obliged to incur any further deficit on account of that Managed Unit, unless and until the Participating Owner has paid all outstanding deficits, together with accrued interest. In the event that the Rental Manager exercises this right, then it shall notify the Participating Owner of its intention, and the monthly statement shall set out the deficit amounts which remain outstanding.
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Related to Rental Manager’s Right - Non-Payment of Deficits

  • License Contingent Upon Payment While you may exercise the rights licensed immediately upon issuance of the license at the end of the licensing process for the transaction, provided that you have disclosed complete and accurate details of your proposed use, no license is finally effective unless and until full payment is received from you (either by publisher or by CCC) as provided in CCC's Billing and Payment terms and conditions. If full payment is not received on a timely basis, then any license preliminarily granted shall be deemed automatically revoked and shall be void as if never granted. Further, in the event that you breach any of these terms and conditions or any of CCC's Billing and Payment terms and conditions, the license is automatically revoked and shall be void as if never granted. Use of materials as described in a revoked license, as well as any use of the materials beyond the scope of an unrevoked license, may constitute copyright infringement and publisher reserves the right to take any and all action to protect its copyright in the materials.

  • Payment of GST If GST is payable on any supply made by a Party (or any entity through which that Party acts) (Supplier) under or in connection with this Agreement, the recipient will pay to the Supplier an amount equal to the GST payable on the supply.

  • Revenue Sharing Agreement This Note is subject to the Company’s Revenue Sharing Agreement attached hereto as Exhibit B as if all the terms of the Revenue Sharing Agreement were set forth in this Note.

  • Notification of Non-payment The Global Agent shall forthwith notify Freddie Mac by facsimile, e-mail or other rapid means of communication if it has not received the full amount for any payment due in respect of the Notes on the date such payment is due. The Global Agent shall have no liability, responsibility, duty or obligation to any Holder or beneficial owner of Notes to take any action against Issuer in the event that Issuer fails to make available funds sufficient to pay amounts due and payable and owing to any Holder on any Payment Date. The Global Agent shall give issuance instructions to DTC in accordance with DTC’s procedures.

  • Additional Fee on Late Payments For any payments thirty (30) calendar days or more overdue under this Agreement, Registry Operator shall pay an additional fee on late payments at the rate of 1.5% per month or, if less, the maximum rate permitted by applicable law.

  • Payment of Termination Payment The Defaulting Party shall make the Termination Payment within ten (10) Business Days after such notice is effective, regardless whether the Termination Payment calculation is disputed. If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Termination Payment, in whole or in part, the Defaulting Party shall within ten

  • Application of this Revenue Sharing Agreement to Notes The terms of this Revenue Sharing Agreement shall apply to each Note as if the terms of this Revenue Sharing Agreement were fully set forth in each Note.

  • Obligation to Make Payments Any Interconnection Party's obligation to make payments for services shall not be suspended by Force Majeure.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

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