Common use of Billing and Payment Clause in Contracts

Billing and Payment. 6.1 The procedure for rendering and payment of invoices for transactions pursuant to this Schedule shall be as set out hereunder unless otherwise agreed by the Coordination Committee. 6.2 The Party delivering energy pursuant to this Schedule shall promptly prepare, or cause to be prepared, and render an invoice to the other Party covering all transactions conducted under the terms of this Schedule. All transactions will be billed based on the schedule of energy agreed to by the Parties. 6.3 All invoices rendered by a Party shall be payable by the other Party in currency of the United States of America by electronic bank transfer within five (5) business days after the issuance of an invoice (the “Due Date”). 6.4 If the rendering of an invoice is unavoidably delayed, a Party may issue an interim invoice based on estimated charges. Each invoice shall be subject to adjustment for any errors in calculation, meter readings, estimating or otherwise. Any such billing adjustments shall be made as promptly as practical, but in no event later than six months after issuing the invoice. 6.5 Any amount not paid by the Due Date shall be subject to interest, calculated from the due date of the invoice to the date of payment, in accordance with the methodology specified for interest on refunds in the FERC’s regulations at 18 C.F.R. § 35.19a (a) (2) (iii). 6.6 If any invoice remains unpaid by a Party for thirty (30) days after the Due Date, the Party rendering the invoice may, in addition to all other remedies available to it, and after giving the other Party at least five days written notice of the its intention to do so, present the issue in question to that Party’s Board of Directors. The Party’s Board of Directors shall contact the other Party’s Board of Directors or its designee to develop a solution to a billing Dispute pursuant to Article 17 of this Agreement. The Boards of Directors may also choose to submit the billing Dispute to a form of alternative Dispute resolution to which the Boards of Directors may agree. Such action shall not be construed as a breach of contract by the Party rendering the invoice and shall not relieve the other Party of its obligations to pay for energy in accordance with the provisions of this Schedule. 6.7 The applicable provisions of this Schedule shall continue in effect after termination of this Schedule to the extent necessary to provide for final billing, billing adjustments, payments and disposition of any claims outstanding. 6.8 Each Party warrants that it has, or will have, the agreements and procedures in place to ensure the collection of payments from its participants for the delivery of Emergency Energy to it from the other Party.

Billing and Payment. 6.1 The procedure for rendering and payment of invoices for transactions pursuant to this Schedule shall be 5.1 Except as set out hereunder unless otherwise agreed permitted or required by the Coordination Committee. 6.2 The Party delivering energy pursuant to this Schedule shall promptly preparea Providing Party’s Tariffs, or cause to be prepared, and render an invoice to the other Party covering all transactions conducted under the terms of this Schedule. All transactions will be billed based on the schedule of energy as otherwise expressly agreed to in writing by the Parties, a Providing Party shall render bills to the Purchasing Party monthly. Except as otherwise expressly agreed in writing by the Parties, the bills shall be in the standard form for bills that the Providing Party renders to Telecommunications Carriers similarly situated to the Purchasing Party. 6.3 All invoices rendered by a 5.2 A Purchasing Party shall pay the Providing Party’s bills in immediately available U.S. funds. Payments shall be payable transmitted by electronic funds transfer. 5.3 Payment of charges for Offered Services shall be due by the other Party due date stated on the Providing Party’s bills. Except as otherwise agreed in currency of writing by the United States of America by electronic bank transfer within five Parties, the due date shall not be sooner than twenty (520) business days after the issuance of an invoice (date the “Due Date”)xxxx is received by the Purchasing Party. 6.4 If 5.4 Charges which are not paid by the rendering of an invoice is unavoidably delayed, a Party may issue an interim invoice based due date stated on estimated charges. Each invoice the Providing Party’s xxxx shall be subject to adjustment for any errors in calculation, meter readings, estimating or otherwisea late payment charge. Any such billing adjustments The late payment charge shall be made as promptly as practicalin the amount provided in the Providing Party’s applicable Tariffs; provided, but that in no event later than six months after issuing the invoiceabsence of an applicable Tariff late payment charge, the late payment charge shall be in an amount specified by the Providing Party, which shall not exceed a rate of one and one-half percent (1.5%) of the over-due amount (including any unpaid, previously billed late payment charges) per month. 6.5 Any amount not paid by 5.5 Although it is the Due Date shall be subject intent of each Party as a Providing Party to interestsubmit timely and accurate bills, calculated from the due date of the invoice to the date of payment, in accordance with the methodology specified for interest on refunds in the FERC’s regulations at 18 C.F.R. § 35.19a (a) (2) (iii). 6.6 If any invoice remains unpaid failure by a Providing Party for thirty (30) days after the Due Date, the Party rendering the invoice may, in addition to all other remedies available to it, and after giving the other Party at least five days written notice of the its intention to do so, present the issue in question to that Party’s Board of Directors. The Party’s Board of Directors shall contact the other Party’s Board of Directors or its designee to develop a solution bills to a billing Dispute pursuant to Article 17 Purchasing Party in a timely or accurate manner shall not constitute a breach or default of this Agreement, or a waiver of a right of payment of the incurred charges, by the Providing Party. The Boards Subject to the requirements of Directors may also choose to submit Attachment 7, if a xxxx for charges is submitted within one (1) year after the billing Dispute to charges are incurred, or, for charges due under a form “True-up” under Attachment 6, within the time allowed for submission of alternative Dispute resolution to which a xxxx for such “True-up” charges, the Boards of Directors may agree. Such action Purchasing Party shall not be construed as entitled to dispute the charges based on the Providing Party’s failure to submit a breach of contract by the Party rendering the invoice and shall not relieve the other Party of its obligations to pay xxxx for energy them in accordance with the provisions of this Schedulea timely fashion. 6.7 The applicable provisions of this Schedule shall continue in effect after termination of this Schedule to the extent necessary to provide for final billing, billing adjustments, payments and disposition of any claims outstanding. 6.8 Each Party warrants that it has, or will have, the agreements and procedures in place to ensure the collection of payments from its participants for the delivery of Emergency Energy to it from the other Party.

Billing and Payment. 6.1 The procedure for rendering and payment of invoices for transactions pursuant to this Schedule shall be as set out hereunder unless otherwise agreed by the Coordination Committee. 6.2 The Promptly after the end of each calendar month, the Party delivering energy pursuant to this Schedule shall promptly prepare, prepare or cause to be prepared, prepared and render an invoice to the other Party covering all transactions conducted under the terms of this ScheduleSchedule during such calendar month. All transactions will be billed based on the schedule of energy agreed to by the Parties. 6.3 All invoices rendered by a Party shall be payable by the other Party in currency of the United States of America USA by electronic bank transfer within five transfer, or in such other manner as is agreed to by the Coordination Committee, on the later of (51) business days the twentieth day of each month or the first common banking day after the issuance nineteenth day of an invoice the month whichever is later (the “Due Date”). 6.4 The currency exchange rate used to convert Canadian dollars, where required, to U.S. dollars in preparing the invoice will be that quoted by the Bank of Canada at noon on the last banking day of the month in which the Emergency or Security Energy being invoiced was delivered. 6.5 If the rendering of an invoice is unavoidably delayed, a Party may issue an interim invoice based on estimated charges. Each invoice shall be subject to adjustment for any errors in calculation, meter readings, estimating or otherwise. Any such billing adjustments shall be made as promptly as practical, but in no event later than six months after issuing the invoice. 6.5 6.6 Any amount not paid by the Due Date shall be subject to interest, calculated from the due date of the invoice to the date of payment, in accordance with the methodology specified for interest on refunds in the FERCFederal Energy Regulatory Commission’s regulations at 18 C.F.R. § 35.19a (a) (2) (iii). 6.6 6.7 If any invoice remains unpaid by a Party for thirty (30) days after the Due Date, the Party rendering the invoice may, in addition to all other remedies available to it, and after giving the other Party at least five days written notice of the its intention to do so, present the issue in question to that Party’s Board of Directors. The Party’s Board of Directors shall contact the other Party’s Board of Directors or its designee to develop a solution to a billing Dispute pursuant to Article 17 of this Agreement. The Boards of Directors may also choose to submit the billing Dispute to a form of alternative Dispute dispute resolution to which the Boards of Directors may agree. Such action shall not be construed as a breach of contract by the Party rendering the invoice and shall not relieve the other Party of its obligations to pay for energy in accordance with the provisions of this Schedule. 6.7 6.8 The applicable provisions of this Schedule shall continue in effect after termination of this Schedule to the extent necessary to provide for final billing, billing adjustments, payments and disposition of any claims outstanding. 6.8 6.9 Each Party warrants that it has, or will have, the agreements and procedures in place to ensure the collection of payments from its participants for the delivery of Emergency or Security Energy to it from the other Party.

Billing and Payment. 6.1 The procedure for rendering and payment of invoices for transactions pursuant to this Schedule shall be as set out hereunder unless otherwise agreed by the Coordination Committee. 6.2 The Promptly after the end of each calendar month, theThe Party delivering energy pursuant to this Schedule shall promptly prepare, or cause to be prepared, and render an invoice to the other Party covering all transactions conducted under the terms of this ScheduleSchedule during such calendar month. All transactions will be billed based on the schedule of energy agreed to by the Parties. 6.3 All invoices rendered by a Party shall be payable by the other Party in currency of the United States of America by electronic bank transfer transfer, or in such other manner as is agreed to by the Coordination Committee, on the later of (1) the twentieth day of each month or the first common banking day after the nineteenth day of the month whichever is later within five (5) business days after the issuance of an invoice (the “Due Date”). 6.4 If the rendering of an invoice is unavoidably delayed, a Party may issue an interim invoice based on estimated charges. Each invoice shall be subject to adjustment for any errors in calculation, meter readings, estimating or otherwise. Any such billing adjustments shall be made as promptly as practical, but in no event later than six months after issuing the invoice.. Issued by: Xxxxxxx X. Xxxxxxx, President Effective: November 15, 2008 Issued on: November 13, 2008 6.5 Any amount not paid by the Due Date shall be subject to interest, calculated from the due date of the invoice to the date of payment, in accordance with the methodology specified for interest on refunds in the FERC’s regulations at 18 C.F.R. § 35.19a (a) (2) (iii). 6.6 If any invoice remains unpaid by a Party for thirty (30) days after the Due Date, the Party rendering the invoice may, in addition to all other remedies available to it, and after giving the other Party at least five days written notice of the its intention to do so, present the issue in question to that Party’s Board of Directors. The Party’s Board of Directors shall contact the other Party’s Board of Directors or its designee to develop a solution to a billing Dispute pursuant to Article 17 of this Agreement. The Boards of Directors may also choose to submit the billing Dispute to a form of alternative Dispute resolution to which the Boards of Directors may agree. Such action shall not be construed as a breach of contract by the Party rendering the invoice and shall not relieve the other Party of its obligations to pay for energy in accordance with the provisions of this Schedule. 6.7 The applicable provisions of this Schedule shall continue in effect after termination of this Schedule to the extent necessary to provide for final billing, billing adjustments, payments and disposition of any claims outstanding. 6.8 Each Party warrants that it has, or will have, the agreements and procedures in place to ensure the collection of payments from its participants for the delivery of Emergency Energy to it from the other Party.

Billing and Payment. 6.1 The procedure for rendering and payment of invoices for transactions pursuant to this Schedule shall be as set out hereunder unless otherwise agreed by the Coordination Committee. 6.2 The Promptly after the end of each each calendar month, the Party delivering energy pursuant to this Schedule shall promptly prepare, or cause to be prepared, and render an invoice to the other Party covering all transactions conducted under the terms of this ScheduleSchedule during such calendar month during such calendar month. All transactions will be billed based on the schedule of energy agreed to by the Parties. 6.3 All invoices rendered by a Party shall be payable by the other Party in currency of the United States of America USA by electronic bank transfer transfer, or in such other manner as is agreed to by the Coordination Committee, on the later of (1) the twentieth day of each month or the first common banking day after the nineteenth day of the month whichever is later within five (5) business days after the issuance of an invoice (the “Due Date”). 6.4 The currency exchange rate used to convert Canadian dollars, where required, to United States of America (U.S.) dollars in preparing the invoice will be that quoted by the Bank of Canada at noon on the last banking day of the month in which the Emergency Energy or Security Energy being invoiced was delivered. 6.5 If the rendering of an invoice is unavoidably delayed, a Party may issue an interim invoice based on estimated charges. Each invoice shall be subject to adjustment for any errors in calculation, meter readings, estimating or otherwise. Any such billing adjustments shall be made as promptly as practical, but in no event later than six months after issuing the invoice. 6.5 6.6 Any amount not paid by the Due Date shall be subject to interest, calculated from the due date of the invoice to the date of payment, in accordance with the methodology specified for interest on refunds in the Federal Energy Regulatory Commission’s FERC’s regulations at 18 C.F.R. § 35.19a (a) (2) (iii). 6.6 6.7 If any invoice remains unpaid by a Party for thirty (30) days after the Due Date, the Party rendering the invoice may, in addition to all other remedies available to it, and after giving the other Party at least five days written notice of the its intention to do so, present the issue in question to that Party’s Board of Directors. The Party’s Board of Directors shall contact the other Party’s Board of Directors or its designee to develop a solution to a billing Dispute pursuant to Article 17 187 of this Agreement. The Boards of Directors may also choose to submit the billing Dispute to a form of alternative Dispute dDispute resolution to which the Boards of Directors may agree. Such action shall not be construed as a breach of contract by the Party rendering the invoice and shall not relieve the other Party of its obligations to pay for energy in accordance with the provisions of this Schedule. 6.7 6.8 The applicable provisions of this Schedule shall continue in effect after termination of this Schedule to the extent necessary to provide for final billing, billing adjustments, payments and disposition of any claims outstanding. 6.8 6.9 Each Party warrants that it has, or will have, the agreements and procedures in place to ensure the collection of payments from its participants for the delivery of Emergency Energy and or Security Energy to it from the other Party.