Approval of Applications for Payment Sample Clauses

Approval of Applications for Payment. Based upon Applications for Payment submitted by the Trade Contractor and as approved by the Authority, the Authority shall make payment to the Trade Contractor. The period covered by each Application for Payment shall be one (1) calendar month ending on the last day of the month, or as otherwise agreed to between the Authority and Trade Contractor in writing. Provided that a Trade Contractor Application for Payment is approved for full or partial payment, the Authority shall make payment of the approved amount to the Trade 11.6.1 Determine the portion of the Trade Contract Amount properly allocable to completed Trade Contractor Work as determined by the Authority. 11.6.2 Add that portion of the Trade Contract Amount properly allocable to materials and equipment delivered and suitably stored at the Project Site for subsequent incorporation in the Trade Contractor Work, or, if approved in advance by the Authority, suitably stored off the Project Site at a location agreed upon in writing. 11.6.3 Subtract retainage of five percent (5%). The Authority may in its sole discretion approve any deviation from this requirement. 11.6.4 Subtract the aggregate of previous payments made by the Authority. 11.6.5 Subtract amounts, if any, for which the Authority has reasonably withheld or denied a Trade Contractor Application for Payment as provided in the Trade Contract Documents. 11.6.6 The Authority shall pay interest of one and one-half percent (1.5%) per month (or any part of a month) to the Trade Contractor on an undisputed amount not paid to the Trade Contractor. The minimum monthly interest penalty payment for an unpaid balance of $100 or more is $10. For an unpaid balance of less than $100, the Authority shall pay the actual interest penalty due to the Trade Contractor in accordance with Minnesota Statutes.
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Approval of Applications for Payment. StadiumCo and the Program Manager shall receive, review and, with Program Manager’s recommendation, StadiumCo shall approve, all Applications for Payment from the CM at Risk under the Construction Contract. StadiumCo shall cause the Architect to perform all obligations under the Architect Agreement relating to each Application for Payment, including but not limited to, any inspections of the Stadium Project Improvements Work and approval of such Application for Payment as required. StadiumCo shall cause the CM at Risk to perform all obligations under the Construction Contract relating to each Application for Payment. StadiumCo shall provide copies of all Applications for Payment to the Authority and Authority Project Manager for review and approval; provided, however, in no event shall the Authority Project Manager’s approval of any Application for Payment relieve StadiumCo from any obligation under this Agreement or under any of the other Definitive Documents. StadiumCo shall assemble all Applications for Payment, and upon the Authority’s approval thereof, coordinate the inclusion thereof into each Construction Fund Requisition.
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Approval of Applications for Payment. Based upon Applications for Payment submitted by the Trade Contractor and as approved by the Authority, the Authority shall make payment to the Trade Contractor. The period covered by each Application for Payment shall be one (1) calendar month ending on the last day of the month, or as otherwise agreed to between the Authority and Trade Contractor in writing. Provided that a Trade Contractor Application for Payment is approved for full or partial payment, the Authority shall make payment of the approved amount to the Trade Contractor not later than forty-five (45) Days after the Authority has approved Application for Payment. Each Application for Payment shall be based upon the most recent Schedule of Values submitted by the Trade Contractor and approved by the Authority in accordance with this Trade Contract Agreement. The Application for Payment shall show the percentage completion of each portion of the Trade Contractor Work as of the end of the period 11.6.1 Determine the portion of the Trade Contract Amount properly allocable to completed Trade Contractor Work as determined by the Authority. 11.6.2 Add that portion of the Trade Contract Amount properly allocable to materials and equipment delivered and suitably stored at the Project Site for subsequent incorporation in the Trade Contractor Work, or, if approved in advance by the Authority, suitably stored off the Project Site at a location agreed upon in writing. 11.6.3 Subtract retainage of five percent (5%). The Authority may in its sole discretion approve any deviation from this requirement. 11.6.4 Subtract the aggregate of previous payments made by the Authority. 11.6.5 Subtract amounts, if any, for which the Authority has reasonably withheld or denied a Trade Contractor Application for Payment as provided in the Trade Contract Documents. 11.6.6 The Authority shall pay interest of one and one-half percent (1.5%) per month (or any part of a month) to the Trade Contractor on an undisputed amount not paid to the Trade Contractor. The minimum monthly interest penalty payment for an unpaid balance of $100 or more is $10. For an unpaid balance of less than $100, the Authority shall pay the actual interest penalty due to the Trade Contractor in accordance with Minnesota Statutes.
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Approval of Applications for Payment. Based upon Applications for Payment submitted by the Trade Contractor and as approved by the Authority, the Authority shall make payment to the Trade Contractor. The period covered by each Application for Payment shall be one (1) calendar month ending on the last day of the month, or as otherwise agreed to between the Authority and Trade Contractor in writing. Provided that a Trade Contractor Application for Payment is approved for full or partial payment, the Authority shall make payment of the approved amount to the Trade Contractor not later than forty-five (45) Days after the Authority has approved Application for Payment. Each Application for Payment shall be based upon the most recent Schedule of Values submitted by the Trade Contractor and approved by the Authority in accordance with this Trade Contract Agreement. The Application for Payment shall show the percentage completion of each portion of the Trade Contractor Work as of the end of the period covered by the Application for Payment. The percentage completion shall be the percentage of that portion of the Trade Contractor Work which has actually been completed. Subject to other provisions of the Trade Contract Agreement, the amount of each progress payment shall be computed as follows: 11.6.1 Determine the portion of the Trade Contract Amount properly allocable to completed Trade Contractor Work as determined by the Authority. 11.6.2 Add that portion of the Trade Contract Amount properly allocable to materials and equipment delivered and suitably stored at the Project Site for subsequent incorporation in the Trade Contractor Work, or, if approved in advance by the Authority, suitably stored off the Project Site at a location agreed upon in writing. 11.6.3 Subtract retainage of five percent (5%). The Authority may in its sole discretion approve any deviation from this requirement. 11.6.4 Subtract the aggregate of previous payments made by the Authority. 11.6.5 Subtract amounts, if any, for which the Authority has reasonably withheld or denied a Trade Contractor Application for Payment as provided in the Trade Contract Documents. 11.6.6 The Authority shall pay interest of one and one-half percent (1.5%) per month (or any part of a month) to the Trade Contractor on an undisputed amount not paid to the Trade Contractor. The minimum monthly interest penalty payment for an unpaid balance of $100 or more is $10. For an unpaid balance of less than $100, the Authority shall pay the actual interest penal...
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Approval of Applications for Payment. The Village shall use good faith reasonable efforts to approve or reject (specifying, in the event of rejection, the reasons therefor) each Design/Builder s certified Application for Payment within fourteen (14) days after thereof, or within such period of time as may be otherwise permitted by Fla. Stat. 218.735. If reasons for rejection apply only to a portion of such Application for Payment, only such portion shall be rejected. An Application for Payment or portion thereof that has Een approved by the Village is herein referred to as an "Approved Application for Payment.”
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Related to Approval of Applications for Payment

  • Applications for Payment 9.3.1 At least ten days before the date for each progress payment established in the State- Contractor Agreement, the Contractor shall submit to the Architect an itemized Application for Payment, notarized if required, supported by such data substantiating the Contractor's right to payment as the State or the Architect may require. The application for payment must, at a minimum, reflect retainage and the required waivers of lien and any other support documentation enumerated elsewhere in the Contract Documents. 9.3.2 Unless otherwise provided in the Contract Documents, payments will be made on account of materials or equipment not incorporated in the Work but delivered and suitably stored at the site and, if approved in advance by the State, payments may similarly be made for materials or equipment suitably stored at some other location agreed upon in writing. Payments for materials or equipment stored on or off the site shall be conditioned upon submission by the Contractor of bills of sale or such other procedures satisfactory to the State to establish the State's title to such materials or equipment or otherwise protect the State's interest, including applicable insurance and transportation to the site for those materials and equipment stored off the site. 9.3.3 The Contractor warrants that title to all Work, materials and equipment covered by an Application for Payment will pass to the State either by incorporation in the construction or upon the receipt of payment by the Contractor, whichever occurs first, free and clear of all liens, claims, security interests or encumbrances, hereinafter referred to in this Article 9 as "liens"; and that no Work, materials or equipment covered by an Application for Payment will have been acquired by the Contractor, or by any other person performing Work at the site or furnishing materials and equipment for the Project, subject to an agreement under which an interest therein or an encumbrance thereon is retained by the seller or otherwise imposed by the Contractor or such other person.

  • Application for Payment The form acceptable to Owner that is to be used by the Contractor during the course of the Work in requesting payment from the Owner and that is to be accompanied by such supporting documentation as is required by the Contract Documents.

  • Scope of Application Except as otherwise provided in this Agreement, the dispute settlement provisions of this Chapter shall apply with respect to the settlement of all disputes between the Parties regarding the interpretation or application of this Agreement, whenever a Party considers that the other Party has failed to carry out its obligations under this Agreement.

  • Provisions for Payment The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(13). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section 2.01(a)(23), the principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption or repurchase thereof prior to maturity, and any cash amount due upon conversion or exchange thereof, shall be payable in the coin or currency of the United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. The interest installment on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below:

  • REQUESTS FOR PAYMENT Payments shall be made in accordance with Article I.4 of the Special Conditions.

  • Order of Application (a) If no Default or Potential Default exists, payments, and prepayments of the Obligation shall be applied first to fees then due, second to accrued interest then due and payable on the Principal Debt, and then to the remaining Obligation in the order and manner as Borrower may direct. (b) If a Default or Potential Default exists, any payment or prepayment (including proceeds from the exercise of any Rights) shall be applied to the Obligation in the following order: (i) to the payment of all fees, expenses, and indemnities for which Administrative Agent has not been paid or reimbursed in accordance with the Loan Papers; (ii) to the ratable payment of all fees, expenses, and indemnities (other than L/C fees set forth in Section 5.3 hereof (collectively, “L/C Fees”)) for which Lenders have not been paid or reimbursed in accordance with the Loan Papers (as used in this clause (ii), a “ratable payment” for any Lender shall be, on any date of determination, that proportion which the portion of the total fees, expenses, and indemnities owed to such Lender bears to the total aggregate fees, expenses, and indemnities owed to all Lenders on such date of determination); (iii) to the ratable payment of accrued and unpaid interest on the Principal Debt and L/C Fees (as used in this clause (iii), “ratable payment” means, for any Lender, on any date of determination, that proportion which the accrued and unpaid interest on the Principal Debt owed to such Lender bears to the total accrued and unpaid interest on the Principal Debt owed to all Lenders); (iv) to the ratable payment of the Principal Debt (as used in this clause (iv), “ratable payment” means for any Lender, on any date of determination, that proportion which the Principal Debt owed to such Lender bears to the Principal Debt owed to all Lenders); (v) to Administrative Agent for the account of the applicable L/C Issuer, to Cash Collateralize that portion of L/C Exposure comprised of the aggregate undrawn amount of L/Cs; (vi) to the payment of the remaining Obligation in the order and manner Required Lenders deem appropriate; and (vii) the balance, if any, after all of the Obligation has been indefeasibly paid in full, to Borrower or as otherwise required by Law. Subject to Section 2.3(c), amounts used to Cash Collateralize the aggregate undrawn amount of L/Cs pursuant to clause (v) above shall be applied to satisfy drawings under such L/Cs as they occur. If any amount remains on deposit as Cash Collateral after all L/Cs have either been fully drawn or expired, such remaining amount shall be applied to the other Obligation, if any, in the order set forth above. Subject to the provisions of Section 14 and provided that Administrative Agent shall not in any event be bound to inquire into or to determine the validity, scope, or priority of any interest or entitlement of any Lender and may suspend all payments or seek appropriate relief (including, without limitation, instructions from Required Lenders, Required Revolver Lenders or Required Term Loan Lenders or an action in the nature of interpleader) in the event of any doubt or dispute as to any apportionment or distribution contemplated hereby, Administrative Agent shall promptly distribute such amounts to each Lender in accordance with the Agreement and the related Loan Papers.

  • Procedure for Payment Whenever a payment for fractional Rights, Preferred Shares or Common Shares is to be made by the Rights Agent pursuant to this Agreement, the Company will (i) promptly prepare and deliver to the Rights Agent a certificate setting forth in reasonable detail the facts related to such payment and the prices or formulas utilized in calculating such payments; and (ii) provide sufficient monies to the Rights Agent to make such payments. The Rights Agent will be fully protected in relying upon such certificate and will have no duty with respect thereto, and will not be deemed to have knowledge of any payment for fractional Rights, Preferred Shares or Common Shares pursuant to this Agreement unless and until the Rights Agent has received such certificate and sufficient monies.

  • Approval of Listing At the Closing Time, the Securities shall have been approved for listing on the New York Stock Exchange, subject only to official notice of issuance.

  • PREREQUISITES FOR PAYMENT The following applicable requirements shall be fulfilled in order to establish an employee's eligibility for sick leave benefits.

  • Request for Payment Payment to the Grantee shall be due 30 calendar days following receipt by the City of the Grantee’s fully and accurately completed payment request, using the City’s contract management system. The payment request must be submitted to the City no later than 11:59 p.m. Central Standard Time 25 calendar days following the end of the month covered by the payment request. If the 25th calendar day falls on a weekend or holiday, as outlined in Section 8.24, the deadline to submit the payment request is extended to no later than 11:59 p.m. Central Standard Time of the 1st weekday immediately following the weekend or holiday.

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