Final Payment Amount Clause Samples
The 'Final Payment Amount' clause defines the total sum that must be paid by one party to another at the conclusion of a contract or upon completion of specified obligations. This clause typically outlines how the final amount is calculated, such as by referencing completed work, delivered goods, or adjustments for prior payments and deductions. Its core function is to ensure both parties have a clear understanding of the exact payment due at the end of the contractual relationship, thereby preventing disputes over outstanding balances.
Final Payment Amount. At least 30 days before the Withdrawal Time, Tri-State shall calculate and provide to NRPPD the Final Payment Amount, which shall use the formula set forth in Rate Schedule No. 281.
Final Payment Amount. On or before the date that is thirty (30) days before the Withdrawal Time (“Final Payment Amount Notice Date”), Tri-State shall calculate and provide to LPEA the Final Payment Amount, which shall use the formula set forth in the FERC-accepted and effective version of Rate Schedule No. 281 as of the Final Payment Amount Notice Date. The only changes from the Estimated Final Payment Amount will be updated numbers, if any, for the Final Patronage Capital Credit and Regulatory Liabilities Credit, or as otherwise directed by FERC. In the event LPEA disputes the Final Payment Amount provided by Tri-State, LPEA may seek to include the disputed amount as part of a proceeding initiated at FERC or may otherwise initiate dispute resolution procedures hereunder.
Final Payment Amount. As soon as practicable after delivery of the Final Statement but in no event more than 30 days following the completion and delivery to BRFHH of the 2018 Audited Balance Sheet: (i) in the event the Final Payment is a positive number, OLHS-NL shall (A) instruct the Escrow Agent to pay to BRF from the Escrow Amount the Final Payment Amount, and any remaining balance of the Escrow Amount would be paid to OLHS-NL, and (B) if the Escrow Amount is less than the Final Payment Amount, OLHS-NL will make payment to BRF; or (ii) in the event the Final Payment Amount is a negative number, (A) OLHS-NL shall instruct the Escrow Agent to release the Escrow Amount to OLHS- NL, and (B) BRF shall pay OLHS-NL the difference between the Escrow Amount and the Final Payment
Final Payment Amount. No later than 2:00 p.m. Mountain Prevailing Time on March 30, 2026, LPEA shall pay the amount calculated pursuant to the FERC-accepted and effective version of Rate Schedule No. 281 as of the Final Payment Amount Notice Date (“Final Payment Amount”). The payment of the Final Payment Amount shall be made in immediately available funds to a nationally recognized escrow agent such as a state or federally chartered commercial bank with an office in the State of Colorado, with assets of at least $1 billion, selected by LPEA that is acceptable to Tri-State (the “Escrow Agent”), such acceptance not to be unreasonably withheld, pursuant to an escrow agreement to be entered into by the Parties in a form mutually acceptable to Tri-State, LPEA, and the Escrow Agent (“Escrow Agreement”) by no later than March 17, 2026. LPEA shall provide the name of a nationally recognized escrow agent to Tri-State for approval by December 31, 2025. Tri-State will either approve in writing the escrow agent selected by LPEA or provide the name of another escrow agent that is acceptable to Tri-State within ten (10) days after LPEA provides the name of the escrow agent to Tri-State. LPEA will either approve in writing the escrow agent selected by Tri-State or provide the name of another escrow agent that is acceptable to LPEA within five (5) business days after Tri-State provides the name of the escrow agent to LPEA, and this process will continue until LPEA and Tri-State are able to mutually agree to an escrow agent. LPEA’s payment to Tri-State for the purchase of certain assets and facilities pursuant to the Purchase Agreement is not included in the Final Payment Amount and is covered by and addressed in the Purchase Agreement.
Final Payment Amount. As communicated to United Power on March 29, 2024, United Power’s Final Payment Amount is $627,194,617.56, calculated in accordance with Tri-State’s compliance filing for Rate Schedule No. 281 and the Compliance Filing Order, includes the following formula and inputs: Annual Western Interconnection CTP Amount ($709,482,595.56) + Final Western Interconnection PPA Adjustment ($0.00) – Final Patronage Capital Credit (based upon United Power’s allocated patronage capital balance as of December 31, 2023) ($82,199,988.31) – Regulatory Liabilities Credit (based upon information as of March 29, 2024) ($87,989.69), subject to true-up pursuant to Section 3.1.2.
Final Payment Amount. No later than 2:00 p.m. Mountain Prevailing Time on January 29, 2025, MPEI shall pay into escrow the amount calculated pursuant to the FERC-accepted and effective version of Rate Schedule No. 281 as of January 24, 2025 (“Final Payment Amount”). The Final Payment Amount will be subject to true-ups after the Withdrawal Time as provided in Rate Schedule No. 281 or as described in Sections 3.1.4 and 3.2. The payment of the Final Payment Amount shall be made in immediately available funds to Wilmington Trust Company, as the escrow agent, or such other nationally recognized escrow agent agreeable to the Parties (the “Escrow Agent”), pursuant to an escrow agreement to be entered into by the Parties in a form mutually acceptable to Tri-State, MPEI, and the Escrow Agent (“Escrow Agreement”) by no later than January 17, 2025. MPEI’s payment to Tri-State for the purchase of certain assets and facilities pursuant to the Purchase Agreement is not included in the Final Payment Amount and is covered by and addressed in the Purchase Agreement.
Final Payment Amount. No later than the earlier of (a) completion and delivery to BRFHH of the 2018 Audited Balance Sheet or (b) 240 days following the Closing Date, OLHS-NL shall (i) review the calculation the Initial Net Assets, (ii) make a final calculation of Net Assets as of the Closing Date based on the 2018 Audited Balance Sheet (“Final Net Assets”), and (iii) deliver to BRF a statement (the “Final Statement”) setting forth in reasonable detail the Final Net Assets calculation. The Final Statement shall also set forth the difference between the Initial Payment Amount (defined below) and the Final Net Assets (the “Final Payment Amount”).
Final Payment Amount. Thirty days before the Withdrawal Time, Tri-State shall calculate and provide to MPEI the Final Payment Amount, which shall use the formula set forth in Rate Schedule No. 281. The only changes from the estimate set forth in Section 3.1.1 will be updated numbers, if any, for the Final Patronage Capital Credit and Regulatory Liabilities Credit, or as otherwise directed by FERC.