Annual Balance. If Project Manager Costs over the course of a 12-month funding period are less than the $150,000 annual deposit, then the remaining balance at the end of the 12-month period will be credited against the $150,000 deposit for the following 12-month period. For example, if in the first 12 months of this MOU, Project Manager Costs total $130,000, then the $20,000 remaining Deposit balance will be credited against the second-year deposit, and PacifiCorp would only be required to pay an additional $130,000 for the second 12-month period.
Appears in 6 contracts
Samples: Memorandum of Agreement, Memorandum of Agreement, Contract for Services
