Common use of Site Payment Clause in Contracts

Site Payment. 1.1.1 The Operator shall pay the Site Payment without deduction or set-off in advance on the Site Payment Date[s] and: (a) the Site Payment shall be made by electronic payment; or (b) the Site Payment shall be paid in cleared funds into the Site Provider’s bank account (details of which the Site Provider shall have notified to the Operator in writing); and (c) the first instalment of the Site Payment will be made on the Site Payment Commencement Date and shall be the proportion, calculated on a daily basis, in respect of the period from the Site Payment Commencement Date until the day before the next Site Payment Date. [DRAFTING NOTE: Do not use if Site Payment being paid as one lump sum.]

Site Payment. 1.1.1 The Operator Tenant shall pay the Site Payment without deduction or set-off in advance on the Site Payment Date[s] and: (a) the Site Payment shall be made by electronic payment; or (b) the Site Payment shall be paid in cleared funds into the Site ProviderLandlord’s bank account (details of which the Site Provider Landlord shall have notified to the Operator Tenant in writing); and (c) the first instalment of the Site Payment will be made on the Site Payment Commencement Date and shall be the proportion, calculated on a daily basis, in respect of the period from the Site Payment Commencement Date until the day before the next Site Payment Date. [DRAFTING NOTE: Do not use if Site Payment being paid as one lump sum.]