INTERIM MILESTONE BONUSES. 7.1.1 In consideration for Contractor’s timely completion of the Work, Owner will, subject to Section 7.4, pay to Contractor, not later than [***] days following the date of achievement, in addition to the amounts payable to Contractor pursuant to Section 6.3, an Interim Milestone Bonus in respect of each corresponding Interim Milestone that Contractor has achieved prior to, on, or within [***] Days following the relevant Completion Date. 7.1.2 If Contractor achieves an Interim Milestone prior to the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be increased by an amount equal to [***] for each day between the date of such achievement and such Completion Date. 7.1.3 If Contractor achieves an Interim Milestone after the relevant Completion Date but within [***] Days of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. If Contractor achieves an Interim Milestone more than [***] Days after the relevant Completion Date but within [***] of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. If Contractor achieves an Interim Milestone more than [***] Days after the relevant Completion Date but within [***] Days of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. For the avoidance of doubt, if Contractor does not achieve an Interim Milestone within [***] Days of the relevant Completion Date, no Interim Milestone Bonus shall be payable in respect of such Interim Milestone.
Appears in 3 contracts
Samples: Engineering, Procurement and Construction Agreement (Venture Global, Inc.), Engineering, Procurement and Construction Agreement (Venture Global, Inc.), Engineering, Procurement and Construction Agreement (Venture Global, Inc.)
INTERIM MILESTONE BONUSES. 7.1.1 In consideration for Contractor’s timely completion of the Work, Owner will, subject to Section 7.4, pay to Contractor, not later than [***] days following the date of achievement, in addition to the amounts payable to Contractor pursuant to Section 6.3, an Interim Milestone Bonus in respect of each corresponding Interim Milestone that Contractor has achieved prior to, on, or within [***] Days following the relevant Completion Date.
7.1.2 If Contractor achieves an Interim Milestone (for Interim Milestones 2 through 16) prior to the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be increased by an amount equal to [***] for each day between the date of such achievement and such Completion Date.
7.1.3 If Contractor achieves an Interim Milestone after the relevant Completion Date but within [***] Days of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. If Contractor achieves an Interim Milestone more than [***] Days after the relevant Completion Date but within [***] Days of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. If Contractor achieves an Interim Milestone more than [***] Days after the relevant Completion Date but within [***] Days of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. For the avoidance of doubt, if Contractor does not achieve an Interim Milestone within [***] Days of the relevant Completion Date, no Interim Milestone Bonus shall be payable in respect of such Interim Milestone.
Appears in 3 contracts
Samples: Engineering, Procurement and Construction Agreement (Venture Global, Inc.), Engineering, Procurement and Construction Agreement (Venture Global, Inc.), Engineering, Procurement and Construction Agreement (Venture Global, Inc.)
INTERIM MILESTONE BONUSES. 7.1.1 In consideration for Contractor’s timely completion of the Work, Owner will, subject to Section 7.4, pay to Contractor, not later than [***] days following the date of achievement, in addition to the amounts payable to Contractor pursuant to Section 6.3, an Interim Milestone Bonus in respect of each corresponding Interim Milestone that Contractor has achieved prior to, on, or within [***] Days following the relevant Completion Date.
7.1.2 If Contractor achieves an Interim Milestone prior to the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be increased by an amount equal to [***] for each day between the date of such achievement and such Completion Date.
7.1.3 If Contractor achieves an Interim Milestone after the relevant Completion Date but within [***] Days of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. If Contractor achieves an Interim Milestone more than [***] Days after the relevant Completion Date but within [***] of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. If Contractor achieves an Interim Milestone more than [***] Days after the relevant Completion Date but within [***] Days of the relevant Completion Date, the amount of the Interim Milestone Bonus payable in respect of such Interim Milestone shall be equal to [***]. For the avoidance of doubt, if Contractor does not achieve an Interim Milestone within [***] Days of the relevant Completion Date, no Interim Milestone Bonus shall be payable in respect of such Interim Milestone.
Appears in 2 contracts
Samples: Engineering, Procurement and Construction Agreement (Venture Global, Inc.), Engineering, Procurement and Construction Agreement (Venture Global, Inc.)
