Computation and Payments Clause Samples
The Computation and Payments clause outlines how financial amounts owed under the agreement are calculated and the procedures for making payments. It typically specifies the methods or formulas used to determine payment amounts, the timing and frequency of payments, and any requirements for supporting documentation or invoicing. This clause ensures both parties understand their financial obligations and the process for fulfilling them, thereby reducing the risk of disputes over payment calculations or timing.
Computation and Payments. (a) Within 07 (seven) days after the end of each 15 (fifteen) days, in the case of Section
8.1 (a), BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and notify the Company thereby.
(b) Within 30 (thirty) days after the completion of each Contract Year the BPDB shall compute penalty/compensation and deduct penalty from the Operation Security Deposit or pay compensation to the Company whatever applicable and notify the Company thereby.
Computation and Payments. Within:
(A) seven (07) days after the end of each fifteen (15) days, in the case of Article 8.1, BPDB shall compute the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and advise the Company by written notice (a “Liquidated Damages Notice”) of the amount of liquidated damages due to BPDB pursuant to this Contract for the preceding month.
(B) thirty (30) Days after the end of the Commercial Operations Date, in the case of Article 8.2 BPDB shall compute and deduct from the Performance Security Deposit or from the Operations Security Deposit, the Liquidated Damage amount applicable for the shortfall in capacity pursuant to this Contract and notify the Company thereby.
Computation and Payments. Within:
(A) seven (07) days after the end of each fifteen (15) days, in the case of Article 8.1, BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and notify the Company thereby.
(B) thirty (30) Days after the end of the Commercial Operation Date, in the case of Article 8.2 BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the shortfall in capacity pursuant to this Contract and notify the Company thereby.
(C) thirty (30) Days of the end of each Contract Year, in the case of Article 8.3, subject to the Company’s review, BPDB shall compute and advise the Company by written notice (a “Liquidated Damages Notice”) of the amount of liquidated damages due to BPDB pursuant to this Contract for the preceding Contract Year. The Company shall pay to BPDB the amount of liquidated damages shown on the Liquidated Damages Notice, less any amounts disputed by the Company, within twenty five (25) Days of the date of the Liquidated Damages Notice (the “Liquidated Damages Due Date”), and interest shall accrue on any unpaid amount (except for any part of such amount which is disputed by the Company) from the Liquidated Damages Due Date at the rate per annum of the Bank Rate plus four (4) percent compounded semi annually and shall be computed for the actual number of Days on the basis of a three hundred and sixty five (365) Day Year. if the Company does not then pay to BPDB the unpaid undisputed amount plus accrued interest, BPDB may immediately deduct this sum from the Operations Security Deposit or from the monthly invoices. .
Computation and Payments. Interest on unpaid amounts and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days elapsed.
Computation and Payments. (a) Within seven (07) days after the end of each fifteen (15) days, in the case of Article
8.1 (a), BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and notify the Company thereby.
(b) Within thirty (30) days after the completion of each contract year the Entity shall compute penalty/compensation and deduct penalty from the Operation Security Deposit or pay compensation to the Company whatever applicable and notify the Company thereby.
(c) The Company shall pay to BPDB the amount of liquidated damages shown on the Liquidated Damages Notice, less any amounts disputed by The Company, within twenty five (25) Days of the date of the Liquidated Damages Notice (the "Liquidated Damages Due Date"), and interest shall accrue on any unpaid amount (except for any part of such amount which is disputed by the Company) from the Liquidated Damages Due Date at the rate per annum of the Bank Rate plus four (4) percent compounded semiannually and shall be computed for the actual number of Days on the basis of a three hundred and sixty five (365) Day Year.