Payment Reconciliation Date definition

Payment Reconciliation Date means the date of completion of final payment reconciliation by the Generator with its Contractors in relation to the development, construction and commissioning of the Facility or the Reactor(s), including full settlement of any claims (whether contractual, including under defect liability provisions, or otherwise) and payment by or to its Contractors of any gain or pain sharing payments under target cost contracts related to the development, construction and commissioning of the Facility or the Reactor(s) to or by the Generator;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Payment Reconciliation Date means, in the case of a distribution of principal payments under an Acquisition Advance or Working Capital Advance, the first Business Day after Agent's receipt of such principal payments, and, in the case of any other distribution or collection, the fifteenth day of each month, or if the fifteenth day is not a Business Day, the next Business Day thereafter."

Payment Reconciliation Date means, with respect to collections, payments, items or proceeds or other amounts received by the Seller in connection with the Purchased Receivables on or before the Cut Off Date in any calendar week, the date which is the applicable number of Business Days for the related currency set forth in Schedule 9 following such Cut Off Date.

Examples of Payment Reconciliation Date in a sentence

• Each Lender agrees to pay the Agent the Administration Fee, on each Payment Reconciliation Date, by allowing the Agent to net the Administration Fee out of the Payment Due Lenders.

• Agent will provide notice to each Lender on or before 1 p.m. (Eastern Standard Time) on the date that is two Business Days prior to any Payment Reconciliation Date specifying the amounts due to Agent hereunder.

• With respect to each Lender, such fee will be in an amount equal to one tenth of one percent (0.1%) per annum on the outstanding aggregate principal balance of all Advances(made by such Lender) for the month immediately preceding such Payment Reconciliation Date.

• On each Payment Reconciliation Date, each Lender will pay the Agent a fee in consideration for the Agent's performance of the administrative functions more particularly described herein (the "Administration Fee").

• If Agent fails to remit to any Lender its portion of the Payment Due Lenders or any amount of principal, commitment fees or any other Obligation as required above, the Agent agrees to pay to each such Lender interest on such Lender's portion of all such amounts (x) for the first three days after the first Business Day following the Payment Reconciliation Date, at the Federal Funds Rate from time to time in effect, and (y) thereafter at the Applicable LIBOR Rate.

• Such payment shall be made by the Seller to the Purchaser on the next applicable Payment Reconciliation Date.

More Definitions of Payment Reconciliation Date

Payment Reconciliation Date means, in the case of a distribution of principal payments under an Acquisition Advance or Working Capital Advance, the first Business Day after Agent's receipt of such principal payments, and, in the case of any other distribution or collection, the fifteenth day of each month, or if the fifteenth day is not a Business Day, the next Business Day thereafter.