Forward Payment definition
Examples of Forward Payment in a sentence
The Forward Payment obligation of UTA (as generally described in Section 6 of the BRT and as subsequently specifically calculated by the parties) shall be reduced to reflect all Fourth Quarter Transit Revenue: (i) transferred to the County to make Principal and Interest Payments under Section 2(a) of this Agreement; and (ii) paid to the County under Section 2(c) to reimburse the County with respect to out-of-pocket Principal and Interest Payments.
Notwithstanding any draw down, Client is required to provide full Settlement, or any remaining balance, to AFEX Singapore in good cleared funds in connection with a Forward Payment on or before the end of the Value Date.
Client expressly accepts the risk that the value of the currencies in a Forward Payment may change between the date of the Order and the Balance Due Date.
Subject to this Agreement, Client may draw down against a Window Forward Payment during the Delivery Window provided that AFEX Singapore has received Settlement in immediately available funds corresponding to the amount of the draw down.
Upon the implementation of any mutually agreed changes to the project finance structure, the parties shall agree to adjust the amount and timing of the Forward Payment to reflect such changes.
Once Settlement has been received by AFEX Singapore with respect to a Forward Payment, AFEX Singapore will deliver the funds in accordance with the Order or, if no such Delivery Instruction is provided, will credit Client’s Funding Balance.
In the event of a Termination Event, AFEX Singapore may, without notice, immediately terminate the relevant Forward Payment and/or any other outstanding Forward Payment agreed to between the Parties without any liability to AFEX Singapore or its representatives and/or take any other steps AFEX Singapore deems appropriate, including any actions contemplated in this Agreement to mitigate the potential Loss(es).
Where a Forward Payment has been terminated, Client agrees that AFEX Singapore’s sole liability to Client is to return any amounts Client paid to AFEX Singapore that remain after deducting all amounts owed to AFEX Singapore.
Potential opportunities include, without limitation, determining the feasibility of advancing the timing of the Forward Payment to coincide with the ten-year optional redemption of the 2016 County Bonds, exploring additional prepayment opportunities that are mutually beneficial and exploring opportunities to refinance the 2016 County Bonds.
Such credits to the Forward Payment shall be applied on a dollar-for-dollar basis.