Direction of Owner Final Reimbursement Payment Sample Clauses

Direction of Owner Final Reimbursement Payment. (a) Project Co hereby irrevocably directs Owner to make any Owner Final Reimbursement Payment, together with applicable Value Added Tax, to Agent or as Agent may direct, as security for the Financing. Owner shall pay the Owner Final Reimbursement Payment as directed by Project Co and shall not accept any redirection without the consent of Agent. Agent, Owner and Project Co acknowledge that any monies contributed by the Authority towards the Owner Final Reimbursement Payment, together with any monies payable by Owner on account of the Owner Final Reimbursement Payment from its own resources, shall be deposited directly into the Trust Account. Owner acknowledges that Project Co’s interest in the Trust Account has been assigned to Agent as part of the security under the Lending Agreements, and agrees that any monies payable to Project Co hereunder that are funded by monies deposited in the Trust Account shall be paid directly to Agent or as Agent may direct out of the Trust Account in accordance with the provisions of the Trust Account Acknowledgment Agreement. Owner will pay the amounts that Project Co is entitled to hereunder once the conditions for payment set out in this Project Agreement, if any, have been satisfied. Project Co acknowledges and agrees that payment by Owner of the Owner Final Reimbursement Payment to Agent in accordance with this Section 4.6 constitutes payment by Owner to Project Co in satisfaction of Owner’s obligation to pay the Owner Final Reimbursement Payment to Project Co under this Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).
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Related to Direction of Owner Final Reimbursement Payment

  • Payment of Overpayment If at any time the Province provides Funds in excess of the amount to which the Recipient is entitled under the Agreement, the Province may:

  • Late Payment Surcharge In the event of delay in payment of a Monthly Xxxx by Buyer beyond thirty (30) days of its Due Date, a Late Payment Surcharge shall be payable to the SPD at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis subject to such late payment being duly received by Buyer under the PSA from the Buying Entity(ies). The Late Payment Surcharge shall be claimed by the SPD through the Supplementary Xxxx.

  • Mileage Reimbursement A. Subject to the current Vehicle Rules and Regulations established by the Board, an employee who is authorized to use a private automobile in the performance of duties shall be reimbursed for each mile driven in the performance of his or her duties during each monthly period as follows:

  • Payment of GST If GST is payable on any supply made by a Party (or any entity through which that Party acts) (Supplier) under or in connection with this Agreement, the recipient will pay to the Supplier an amount equal to the GST payable on the supply.

  • Meal Reimbursement 1. If an employee is required to work one and one-half (1-1/2) hours before or beyond his/her normal working day or on overtime for emergency purposes or for extended work periods of five (5) or more hours in length on a day that is not the employee’s regular work day, and the employee is not exercising flexible work hours, the employee shall be reimbursed for the actual cost of a meal/food items not to exceed $18.00, plus tip (not to exceed 15%) and applicable taxes. Reimbursement is contingent upon the employee providing receipts.

  • Educational Reimbursement SECTION 1. The purpose of this Article is to xxxxxx a learning environment and provide educational opportunities that are mutually beneficial to the employees and the County and will encourage eligible employees to participate in education programs which will further their skills and knowledge for use in their current position or for use in a possible future position of greater responsibility. The Educational Reimbursement Program shall be a plan as provided for in Section 127 of the Internal Revenue Code of 1986, as amended (the “Code”) and shall be construed consistently with the requirements of Section 127. Amounts paid for tuition reimbursement meeting the requirements of Section 127 of the IRS Tax Code are not included in an Employee’s income or subject to income tax withholding up to a maximum of $5,250 annually. If subsequent tax law changes fail to continue the tax-free treatment, or in any way modify its treatment, appropriate adjustments in tax withholding will be made from the effective date of the change. This Article does not apply to training seminars, conferences, workshops, etc.

  • Late Payment Charges Except for Disputed Amounts, if a Party fails to remit payment for any charges for services by the Xxxx Due Date, or if a payment or any portion of a payment is received by a Party after the Xxxx Due Date, or if payment is not made by check that is currently dated and drawn on an account with sufficient available funds, then a late payment charge may be assessed as provided in Section 27.8.

  • Late Payment Charge If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.

  • Late Payment Penalty If any portion of the principal of or interest on this Debenture shall not be paid within ten (10) days of when it is due, the Discount Multiplier under this Debenture shall decrease by one percentage point (1%) for all conversions of this Debenture thereafter.

  • Reimbursement Payments The Department shall, to the extent funds are available, reimburse the Grantee for eligible claims presented for payment if the Department determines the requirements for reimbursement have been met. Claims under this Contract can only be made for the period this Contract is in effect. Reimbursement programs include the following:

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