Common use of COST PAYMENTS Clause in Contracts

COST PAYMENTS. 11.1 PRODUCER shall reimburse NATIONAL GRID for any cost, or expense that will be incurred by NATIONAL GRID pursuant to this AGREEMENT for the acquisition, construction, design and installation of the INTERCONNECTION FACILITY in accordance with the terms of this Article 11 and any tax in accordance with the terms of Article 12. If requested by NATIONAL GRID, such reimbursement shall be made in advance of incurring the aforementioned costs and expenses based on NATIONAL GRID's good faith estimate of such costs and expenses. 11.2 PRODUCER shall pay NATIONAL GRID on a monthly basis for the actual invoiced costs of operation, maintenance, insurance, repair and retirement of the INTERCONNECTION FACILITY. 11.3 PRODUCER agrees to pay all invoices within thirty (30) days from date of the invoice. In accordance with NATIONAL GRID'S P.S.C. 207 Electricity, if any invoice remains unpaid thirty (30) days from the invoice date, NATIONAL GRID shall apply to the unpaid balance, and PRODUCER shall pay, a finance charge at the rate of one and one-half percent (1.5%) per month, but in no event more than the maximum allowed by law. 11.4 PRODUCER shall indemnify, defend and hold harmless NATIONAL GRID for any and all third-party claims, suits, liabilities or damages (including reasonable attorney's fees) arising from NATIONAL GRID obligations under this Agreement, except to the extent said claims, suits, liabilities or damages are caused in whole or in part by the gross negligence or intentional acts or omissions of NATIONAL GRID.