First Provisional Payment: Sample Clauses

First Provisional Payment:. Where Seller has elected to use the Working Capital Facility, upon delivery of any Materials by Seller to Traxys pursuant to clause 6 and presentation of all Title Documents including a provisional commercial invoice issued by Seller for such Materials, Traxys shall make a provisional payment to Seller for such Materials in the amount calculated pursuant to clause 7.3, net of the Transaction Costs and the Marketing Fee, which shall be subject to reconciliation upon final payment pursuant to clause 8.3.
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First Provisional Payment:. (a) At least 10 days prior to the Date of Arrival of each Parcel at the Discharge Port, the Seller shall present to the Purchasers’ Agent the following documents in respect of such Parcel (the “Shipping Documents”): (i) Full set (3/3) of original, ocean bill of lading, consigned to order and blank endorsed or to a named buyer, issued as per the Purchasers’ Agent’s instructions, marked ‘freight prepaid’ or ‘payable as per Charter Party’ evidencing “clean on board” shipment from Port of Loading to Discharge Port; (ii) The Seller’s original signed First Provisional Invoice, the amount of which shall be calculated based on the bill of lading wet weights, Seller’s provisional moisture analysis, Seller’s provisional assays for the Parcel, and the payments for Payable Metals (less the Deductions) (“First Provisional Invoice”); (iii) The Seller’s certificate of preliminary assays for the Payable Metals and Penalty Elements in such Parcel, if any; (iv) The Seller’s certificate of provisional weight (based on ocean bill of lading weight) and moisture certificate; (v) Original insurance certificate drawn in accordance with Article 5 (Insurance); and (vi) The Seller’s certificate of origin for the Concentrates. (b) Within ten days after the Date of Arrival of each Parcel at the Discharge Port, the Purchasers shall make a provisional payment to the Seller equal to 90 per cent of the estimated Total Compensation (the “First Provisional Payment”) for that Parcel in accordance with this Section 7.4(c). (c) The ocean bill of lading weight shall be determined by draft survey for bulk shipments. (d) The prices of Payable Metals utilized for the purposes of the First Provisional Invoice shall be the average of the Payable Copper Price, the Payable Gold Price and the Payable Silver Price, respectively, over the last full calendar week prior to the issuance of the First Provisional Invoice. The Seller’s provisional assays and moisture shall be determined at the mine site or such other location at Seller’s discretion, provided that Purchasers’ Agent shall have the right to be present at such assay and moisture determination.
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Related to First Provisional Payment:

  • Additional Payment In addition to any Spousal Support, in the event of Divorce: (check one)

  • Payment Provisions Payment shall be made in accordance with Chapter 2251 of the Texas Government Code, commonly known as the Texas Prompt Payment Act. Chapter 2251 of the Texas Government Code shall govern remittance of payment and remedies for late payment and non-payment.

  • Additional Payments (i) Anything in this Agreement to the contrary notwithstanding, if it is determined that any payment, award, benefit or distribution (or any acceleration of any payment, award, benefit or distribution) by the Company or any entity which effectuates a change in control (or other change in ownership) to or for the benefit of Executive would be subject to the excise tax imposed by Section 4999 of the Code (“EXCESS PARACHUTE PAYMENTS”), or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “EXCISE TAX”), then the Company shall pay to Executive an additional payment (a “GROSS-UP PAYMENT”) in an amount equal to that required to result in Executive receiving, after application of the Excise Tax, a net amount that would have been received hereunder had the Excise Tax not applied. (ii) Subject to clause (i), all determinations required to be made under this Section, including whether and when a Gross-Up Payment is required, the amount of such Gross-Up Payment and the assumptions to be used in arriving at such determinations, shall be made by a public accounting firm that is selected by the Board (the “ACCOUNTING FIRM”) which shall provide detailed supporting calculations both to the Company and Executive within 15 business days of the receipt of notice from the Company or Executive that there has been a Excess Parachute Payment, or such earlier time as is requested by the Company or Executive (collectively, the “DETERMINATION”). All fees and expenses of the Accounting Firm shall be borne solely by the Company and the Company shall enter into any agreement requested by the Accounting Firm in connection with the performance of the services hereunder. The Gross-Up Payment under SECTION 3.2(c) with respect to any Excess Parachute Payments made to Executive shall be made no later than 30 days following such Excess Parachute Payment. (iii) As a result of the uncertainty in the application of Section 4999 of the Code at the time of the Determination, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“UNDERPAYMENT”) or Gross-Up Payments will be made by the Company which should not have been made (“OVERPAYMENT”), consistent with the calculations required to be made hereunder. If Executive thereafter is required to make payment of any Excise Tax or additional Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code) shall be promptly paid by the Company to or for the benefit of Executive. If the amount of the Gross-Up Payment exceeds the amount necessary to reimburse Executive for his Excise Tax, the Accounting Firm shall determine the amount of the Overpayment that has been made and any such Overpayment (together with interest at the rate provided in Section 1274(b)(2) of the Code) shall be promptly paid by Executive to or for the benefit of the Company. Executive shall cooperate, to the extent his expenses are reimbursed by the Company, with any reasonable requests by the Company in connection with any contest or disputes with the Internal Revenue Service in connection with the Excise Tax. The Company shall in any event pay any Underpayment due to Executive no later than 15 days after the earlier of (A) the Company’s receipt of Executive’s notice of the amount of related taxes to be paid, or (B) Executive’s remittance of the related taxes to the applicable taxing authority; provided that any reimbursement required under this SECTION 3.2(c) of expenses incurred by Executive due to a tax audit or litigation addressing the existence or amount of a tax liability shall be paid no later than 15 days after the earlier of (X) Executive’s presentation of a statement of any such expense, or (Y) the taxes that are the subject of such contest are remitted to the applicable taxing authority, or where as a result of the audit or contest no taxes are remitted, the date on which the audit is completed or there is a final and nonappealable settlement or other resolution of the contest.

  • Attachment B, Payment Provisions The payment provisions are amended as follows:

  • Payment of GST Payment of the additional amount will be made at the same time as payment for the supply is required to be made under this Contract.

  • General Payment Provisions All payments of Obligations shall be made in Dollars, without offset, counterclaim or defense of any kind, free of (and without deduction for) any Taxes, and in immediately available funds, not later than 12:00 noon on the due date. Any payment after such time shall be deemed made on the next Business Day. Any payment of a LIBOR Loan prior to the end of its Interest Period shall be accompanied by all amounts due under Section 3.9. Any prepayment of Loans shall be applied first to Base Rate Loans and then to LIBOR Loans.

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • License Contingent Upon Payment While you may exercise the rights licensed immediately upon issuance of the license at the end of the licensing process for the transaction, provided that you have disclosed complete and accurate details of your proposed use, no license is finally effective unless and until full payment is received from you (either by publisher or by CCC) as provided in CCC's Billing and Payment terms and conditions. If full payment is not received on a timely basis, then any license preliminarily granted shall be deemed automatically revoked and shall be void as if never granted. Further, in the event that you breach any of these terms and conditions or any of CCC's Billing and Payment terms and conditions, the license is automatically revoked and shall be void as if never granted. Use of materials as described in a revoked license, as well as any use of the materials beyond the scope of an unrevoked license, may constitute copyright infringement and publisher reserves the right to take any and all action to protect its copyright in the materials.

  • Final Payment A. Upon final completion and acceptance of the Work in accordance with Paragraph 15.06 of the General Conditions, Owner shall pay the remainder of the Contract Price as recommended by Engineer as provided in said Paragraph 15.06.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.