Mechanism of Payment. The payments due to SELEXIS under this Agreement shall be made either by check or by wire transfer or electronic fund transfer to the credit and account of SELEXIS, as follows: Bank Name: [*] Account: [*] To: Selexis S.A. 10, xxxxxx xxx Xxxx 0000 Xxxx-xxx-Xxxxxx Xxxxxx, Xxxxxxxxxxx
Mechanism of Payment. (a) MCD shall, within 30 days from the date of receipt of the Tipping Fee Statement pay to the Concessionaire Tipping Fee in accordance with the formulae given in this sub-article. The Tipping Fee payable by MCD for the previous month will depend on the level of segregation achieved during the said month as determined from the table below. The levels of segregation achieved would be ascertained by the Independent Consultant by conducting the Tests. Year of Operation Months from COD SB = Segregation Benchmark for corresponding Month ( in % terms)* R = Applicable Penalty for corresponding Months (in % terms) Year 1 1 – 12 0 NIL Year 2 13 – 24 5 15% Year 3 25 – 36 10 15% Year 4 37 – 48 12 15% Year 5 49 – 60 15 15% Year 6 61 – 72 18 15% Year 7 73 – 84 20 15% Year8 onwards 85 onwards 20 15% * The percentage of the total number of vehicle trips to the Landfill Site during the preceding month which have duly passed the Tests relating to level of biodegradability in accordance with the O&M Requirements. IF, the segregation level achieved for the particular Month is lower than the Segregation Benchmark (SB) as in the table above, then the Tipping Fee payable shall be calculated in accordance with the formula given below: Tipping Fee (TF) = [ QB + QNB ] * TFR * (1 - R/100) where, QB= Total Quantity of Biodegradable Substance during the preceding Month (in tons) QNB = Total Quantity of Non-biodegradable Substance during the preceding Month (in tons) TFR = Tipping Fee Rate payable by MCD per ton during the year in accordance with Schedule L. R = Reduction applicable for the particular month on non- achievement of Segregation Benchmark (SB) as presented in the table above. For assessing the Reduction the Concessionaire shall perform Test 1 as set out in the O&M Requirements and get it duly verified by the Independent Consultant.
(b) MCD shall pay to the Concessionaire an amount equal to 97 1/2 % of the Tipping Fee payable to the Concessionaire for each month;
(c) MCD shall deposit the balance 2 1/2 % of the Tipping Fee every month into a special account designated as “Retention Money Account”, opened with a bank acceptable to the Concessionaire, until monies in the said account accumulate to the extent of Rs. crores6. MCD shall thereafter pay the entire Tipping Fee to the Concessionaire until expiry/Termination of this Agreement.
(d) Any delay in making payment by MCD in accordance with the Tipping Fee Statement shall, without prejudice to any other consequences under ...
Mechanism of Payment. (a) The Shareholder Representative shall distribute in cash the Estimated Closing Date Merger Consideration Amount to the Shareholder at the Effective Time pursuant to Section 2.4.(a)(i).
(b) Each of the Surviving Company, Parent and the Escrow Agent shall be entitled to deduct and withhold, or cause or direct the Company, Surviving Company or the Escrow Agent to deduct and withhold, from any payment made pursuant to this Agreement or the Escrow Agreement, any amounts as may be required to be deducted or withheld with respect to such payment under the Code or any applicable provision of state, local or foreign Tax Law; provided, however, that (i) Parent shall, to the extent reasonably practicable, notify the Shareholder Representative in writing in advance of the intention to make such deduction or withholding (or to permit such deduction or withholding to be made), (ii) Parent, the Company, the Surviving Company and the Shareholder Representative (on behalf of the Shareholder) shall reasonably cooperate with one another to reduce or minimize any such deduction or withholding (to the extent legally permissible), (iii) each of the Surviving Company, Parent and the Escrow Agent shall be permitted to rely on any Withholding Tax Forms received pursuant to Section 7.7 for purposes of computing the amount of any such deduction or withholding under U.S. federal Tax Law to the extent permitted by applicable Law and (iv) Parent or the Surviving Company, as the case may be, shall timely remit (or cause to be remitted) to the appropriate Taxing Authority any amounts so deducted or withheld (or permitted to be deducted or withheld), timely file (or cause to be timely filed) all Tax Returns in respect of such deduction or withholding, and provide to the Shareholder Representative copies of such Tax Returns. To the extent that amounts are so deducted or withheld pursuant to this Section 2.6(b) and paid over to the appropriate Taxing Authority, such amounts shall be treated for all purposes of this Agreement as having been paid to the Person to whom such amounts would otherwise have been paid.
Mechanism of Payment. The payments due to Selexis under this Agreement shall be made by wire transfer or electronic fund transfer (at COMPANY’s discretion) to the credit and account of Selexis as follows : Bank Name : Account: ** To: Selexis S.A. 00, xxxxxx xxx Xxxx 0000 Xxxx-xxx-Xxxxxx Xxxxxx, Xxxxxxxxxxx ** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. C1907v1 10 of 31 Neogenix Oncology
Mechanism of Payment. 22.2.1 The payment of this Annual Concession Fee shall be through the Escrow Account as per Article 24 of this Agreement.
Mechanism of Payment. 18.4.1 The mechanism of payment separately for Cost to ULB and Revenue Share to ULB, as the case may be has been provided below:
Mechanism of Payment. (a) Grantor ULB and each Participating ULB shall, within [ ninety (90) ] days from the date of receipt of its Tipping Fee Statement:
Mechanism of Payment. Boeing will pay all civil penalties under this Agreement by wire transfer to the United States of America. To complete the wire transfer, Boeing will need the following information: Receiver Bank Name: TREAS NYC Receiver ABA/Routing Number: Receiving Institution: U.S. Treasury c/o Federal Reserve Bank of New York 00 Xxxxxxx Xxxxxx New York, NY 10045 Account Number: Beneficiary: Reference: Federal Aviation Administration Boeing Global Settlement Attn: Xxxxx Xxxxxxx, AMK-322
Mechanism of Payment. (a) ULB shall make the payment, within 30 days from the date of receipt of the Tipping Fee invoice.
(b) ULB shall retain 2.5% of the Tipping Fee invoice amount calculated in Article
Mechanism of Payment. (a) MCD shall, within 30 days from the date of receipt of the Tipping Fee Statement, Pay to the Concessionaire, an amount equal to 95% of the total amounts payable to Concessionaire (subject to the performance based marks scored) as stated in such Tipping Fee Statement.
(i) Pay into a special account designated as “Post Closure Performance Account”, an amount equal to 2.5 % of the total amounts payable to Concessionaire as stated in such Tipping Fee Statement. Provided, however, the Concessionaire shall be eligible to receive at the end of each year, during the Active Operations Period, an amount equivalent to two-thirds of the amounts accrued in the Post Closure Performance Account during that year, subject to the Concessionaire furnishing of a bank guarantee of equivalent value in favour of MCD. Provided further that the bank guarantees shall be kept valid and co-terminus and shall be released with the Post Closure Performance Account payments due as stated in sub – article 8.2 (b) herein below.
(b) The amounts in the Post Closure Performance Account would be payable to the Concessionaire during the Post Closure Period in 60 quarterly installments upon Cheque on the Post Closure Performance Account duly signed by MCD and the Concessionaire.
(c) Any delay in making any payment in accordance with the Tipping Fee Statement shall, without prejudice to any other consequences under this Agreement, entail payment of interest on the amount in default at prevailing annual prime lending rate of State Bank of India calculated for the duration of delay. The period of delay shall be counted from 180 days after; the day of submission of the tipping Fee Statement.
(d) All payments to the Concessionaire shall be made by way of Cheque. All payments to MCD shall be made by way of demand draft in favour of Commissioner, MCD payable at Delhi.
