Alternative Payment Schedule Clause Samples

An Alternative Payment Schedule clause establishes a payment arrangement that differs from the standard or default payment terms in a contract. This clause outlines specific dates, amounts, or milestones for payments, which may be tailored to accommodate the parties’ unique financial needs or project timelines. For example, instead of a single lump-sum payment, the clause might provide for installment payments or payments triggered by the completion of certain deliverables. Its core practical function is to provide flexibility in financial arrangements, ensuring that payment terms are better aligned with the parties’ capabilities or the nature of the work, thereby reducing the risk of payment disputes or cash flow issues.
Alternative Payment Schedule. Notwithstanding the foregoing, as applicable and consistent with the provisions of Attachment FF of the Tariff, any Customer, Transmission Provider, and Transmission Owner, may adopt any alternative payment schedule that is mutually agreeable so long as Transmission Owner takes one of the following actions no later than five (5) years from the Commercial Operation Date: (1) Return to that Customer the refundable portion of any amounts advanced by that Customer for CUU not previously repaid, or (2) declare in writing that Transmission Owner will continue to provide payments to that Customer on a dollar-for-dollar basis for the non-usage sensitive portion of transmission charges, or develop an alternative schedule that is mutually agreeable and provides for the return of the refundable portion of all amounts advanced by that Customer for CUU not previously repaid; however, full reimbursement of the refundable portion of such Customer’s payments shall not extend beyond twenty (20) years from the Commercial Operation Date.
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Alternative Payment Schedule. Notwithstanding the foregoing, as applicable and consistent with the provisions of Attachment FF of the Tariff, Customer, Transmission Provider, and Transmission Owner, may adopt any alternative payment schedule that is mutually agreeable so long as Transmission Owner takes one of the following actions no later than five (5) years from the Commercial Operation Date: (1) Return to Customer any amounts advanced for Network Upgrades not previously repaid, or (2) declare in writing that Transmission Owner will continue to provide payments to Customer on a dollar-for-dollar basis for the non-usage sensitive portion of transmission charges, or develop an alternative schedule that is mutually agreeable and provides for the return of all amounts advanced for Network Upgrades not previously repaid; however, full reimbursement shall not extend beyond twenty (20) years from the Commercial Operation Date.
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Alternative Payment Schedule a. On or before the [xx] day of each month after which a Closure on an Instructional Day occurs, the Contractor shall submit to the District an invoice, which shall identify the request for payment under this Alternative Payment Schedule and include the date(s) of the Closure. On or before the [xx] day of the month in which the invoice is submitted, the District shall pay the Contractor as follows: i. If a Closure on five (5) or fewer Consecutive Instructional Days occurs, the District shall pay the Contractor [xx] percent (xx %) of the Daily Rate per route per Instructional Day the Contractor does not provide transportation due to a Closure. ii. If a Closure on more than five (5) Consecutive Instructional Days and fewer than twenty (20) consecutive Instructional Days occurs, the District shall pay the Contractor [xx] percent (xx %) of the Daily Rate per route per Instructional Day the Contractor does not provide transportation due to a Closure. iii. If a Closure on twenty (20) or more Consecutive Instructional Days occurs, the District shall pay the Contractor [xx] percent (xx %) of the Daily Rate per route per Instructional Day the Contractor does not provide transportation due to a Closure. b. For the purposes of this Alternative Payment Schedule, the calculation of Consecutive Instructional Days shall begin anew or reset upon the occurrence of a day when fifty percent (50%) of all students enrolled at an educational facility served by the Contractor are physically attending class at the educational facility.
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Related to Alternative Payment Schedule

  • Payment Schedule The purchase price for timber sold under this contract shall be paid in advance as follows: The first payment shall be paid within 30 days of the notification of high bid or before operating, whichever occurs first. The first payment shall be 10 percent of the total estimated bid value. The total estimated bid value shall be the sum obtained by multiplying the estimated timber volumes by the prices given in Section 44 less the amount of the project work. Cash bid deposits shall be applied to the initial payment. Subsequent payments shall be made in advance of timber removal when log hauling begins. Each payment shall be made before the value of timber removed equals one-half an advance payment or within the time period stated on the billing if PURCHASER is more than one-half of a payment in advance. The amount of each advance payment shall be calculated by dividing the total estimated bid value less the initial payment by 9; with the total estimated bid value being the sum obtained by multiplying the estimated timber volumes by the prices given in Section 44 less the amount of the project work. STATE may accept partial payment, upon written request, if logging is inactive. However, the full amount of advance payment is paid before logging resumes. Partial payment must be sufficient to maintain a payment deposit equal to one-half of a regular advance payment. The total purchase price shall be calculated after all log scale is reported by multiplying prices in Section 44 by the scaled volume. STATE shall refund any advance payment in excess of the total price, or PURCHASER shall pay any deficit within 30 days of notice. PURCHASER's deposit account shall not accrue interest payable to PURCHASER.

  • Repayment Schedule The Semiannual Loan Payment shall be computed based upon the principal amount of the Loan plus the estimated Loan Service Fee and the principle of level debt service. The Semiannual Loan Payment amount may be adjusted, by amendment of this Agreement, based upon revised information. After the final disbursement of Loan proceeds, the Semiannual Loan Payment shall be based upon the actual Project costs, the actual Loan Service Fee and Loan Service Fee capitalized interest, if any, and actual dates and amounts of disbursements, taking into consideration any previous payments. Actual Project costs shall be established after the Department's inspection of the completed Project and associated records. The Department will deduct the Loan Service Fee and any associated interest from the first available repayments following the Final Amendment. Each Semiannual Loan Payment shall be in the amount of $42,851 until the payment amount is adjusted by amendment. The interest and Grant Allocation Assessment portions of each Semiannual Loan Payment shall be computed, using their respective rates, on the unpaid balance of the principal amount of the Loan, which includes Capitalized Interest. Interest (at the Financing Rate) also shall be computed on the estimated Loan Service Fee. The interest and Grant Allocation Assessment on the unpaid balance shall be computed as of the due date of each Semiannual Loan Payment. Semiannual Loan Payments shall be received by the Department beginning on March 15, 2020 and semiannually thereafter on September 15 and March 15 of each year until all amounts due hereunder have been fully paid. Funds transfer shall be made by electronic means. The Semiannual Loan Payment amount is based on the total amount owed of $1,714,052, which consists of the Loan principal and the estimated Loan Service Fee.

  • Prompt Payment Schedule Except as otherwise provided by law or regulation or in Sections 504.4 and 504.5 of this Exhibit, the Date of Payment by NYSERDA of an amount properly due and owing under this Agreement shall be no later than thirty (30) calendar days, excluding legal holidays, after Receipt of a Proper Invoice.

  • Payment Scheduling The earliest possible Scheduled Payment Date for each ▇▇▇▇▇▇ will be designated within the portion of the Site through which the Service is offered when you are scheduling the payment. Therefore, the Service will not permit you to select a Scheduled Payment Date less than the earliest possible Scheduled Payment Date designated for each ▇▇▇▇▇▇. When scheduling payments you must select a Scheduled Payment Date that is no later than the actual Due Date reflected on your ▇▇▇▇▇▇ statement unless the Due Date falls on a non-Business Day. If the actual Due Date falls on a non-Business Day, you must select a Scheduled Payment Date that is at least one (1) Business Day before the actual Due Date. Scheduled Payment Dates must be prior to any late date or grace period. Depending on the method of payment, your Eligible Transaction Account may be debited prior to the Scheduled Payment Date. For example, if the selected method of payment is a draft, the draft arrives earlier than the Scheduled Payment Date due to expedited delivery by the postal service, and the ▇▇▇▇▇▇ immediately deposits the draft, your Eligible Transaction Account may be debited earlier than the Scheduled Payment Date.

  • Additional Payment Terms All payments must be made in U.S. dollars and delivered to us at any one of our branch offices or to the address shown on the monthly statement. If we receive your payment before 5:00 p.m. (Mountain Standard Time) on a business day, at the address shown on the front of your monthly statement or at any of our branch offices, we will credit your payment as of the date of receipt. All other payments will be credited to your Account on the next business day following receipt. We may accept late or partial payments as well as payments marked “PAID IN FULL” or other restrictive endorsements, without losing any of our rights under this Agreement and without such payments constituting full accord and satisfaction of the debt. If you make payments using personal checks, and your financial institution refuses to pay the check and returns it to us, you agree to pay a Return Payment Fee. If your loan Account balance is less than the minimum payment amount you must pay the entire balance. You may repay all or part of what you owe at any time. However, so long as you owe any amount you must continue to make your periodic minimum payment. Your minimum monthly payment will be allocated to your account in accordance with all applicable laws and regulations. Personal Identification Number. We will issue you a Personal Identification Number (“PIN”) to be used with your Card. You agree not to write this PIN on your Card, and not to carry your PIN with you at the same time as you carry your Card. We will treat any charge made by you using your Card and PIN as having been authorized by you. If you keep your PIN with the Card, we can refuse to reissue your Card. Change of Terms. We can change the terms of this Agreement, including all fees, other charges and Annual Percentage Rate, at any time, subject to applicable laws and regulations. Events of Default. You are in default if you fail to pay the minimum payment listed on each billing statement on time, file for bankruptcy, exceed your credit limit without our permission, or default on this or any other Nusenda Federal Credit Union Card Agreement you have with us. If you are in default, we may close your Account and require a shorter amortization of your account balance, subject to applicable laws and regulations. No notice is required. We may also declare the whole balance due if you die, if you make false or misleading statements on your application, or if other creditors attach or garnish your property. If you have given us a security interest in a share Account, share draft Account, or certificate of deposit, we may use the deposit amount to pay any amount you owe us. Collection Costs. If we have to refer collection of your Account to a lawyer (who is not our salaried employee), to the extent permitted by law, you will have to pay our attorney’s fee plus court costs and any other fees.