Common use of Downpayment Clause in Contracts

Downpayment. The downpayment amount shown in AT.15 may not be applied toward any other payment required under the provisions of this contract, except damages determined pursuant to JT.4, trans- ferred to other contracts, or refunded until stumpage value representing 25 percent of the total bid value of the con- tract is shown on Integrated Resource Account to have been cut, removed, and paid for or the estimated value re- maining to be cut and removed, as shown on Integrated Resource Account, is equal to or less than the amount of the downpayment. For lump sum contracts, the downpayment may be applied to payment for release of the single pay- ment unit.

Downpayment. The downpayment amount shown in AT.15 may not be applied toward any other oth- er payment required under the provisions of this contract, except damages determined pursuant to JT.4, trans- ferred transferred to other contracts, or refunded until stumpage value representing 25 percent of the total bid value of the con- tract contract is shown on Integrated Resource Account to have been cut, removed, and paid for or the estimated value re- maining remaining to be cut and removed, as shown on Integrated Resource Account, is equal to or less than the amount of the downpaymentdownpay- ment. For lump sum contracts, the downpayment may be applied to payment for release of the single pay- ment payment unit.