Common use of Milestone ICL Payments‌ Clause in Contracts

Milestone ICL Payments‌. 9.5.1 When a Milestone is Achieved. When a Milestone is achieved, as preconditions to Milestone ICL payments, the PMT will assess whether (1) the Project is estimated to achieve Project Final Completion within the Contract Time and (2) the Estimated Final Cost is less than or equal to the Target Cost. (a) If both pre-conditions are true, the ICL Milestone payment scheduled in Exhibit G will be paid along with the Chargeable Costs for that period. (b) If either or both of the payment pre-conditions are not met, then the PMT will determine whether all or any portion of the scheduled Milestone payment of ICL will be deferred, and not paid. If at a later Milestone, both pre-conditions are met, the Milestone payment will include the scheduled Milestone payment plus the deferred Milestone payment or payments. (c) Increases to the ICL due to Project performance are not included in Milestone ICL payments, but are only paid at Final Completion of the Project.

Milestone ICL Payments‌. 9.5.1 8.5.1 When a Milestone is Achieved. When a Milestone is achieved, as preconditions to Milestone ICL payments, the PMT will assess whether whether: (1) the Project is estimated to achieve Project Final Completion within the Contract Time Time; and (2) whether the Estimated Final Cost is less than or equal to 5% below the Target Cost. (a) If both pre-conditions are true, the ICL Milestone payment scheduled in Exhibit G will be paid along with the Chargeable Costs for that period. (b) If either or both of the payment pre-conditions are not met, then the PMT will determine whether all or any portion of the scheduled Milestone payment of ICL will be deferred, and not paid. If at a later Milestone, both pre-conditions are met, the Milestone payment will include the scheduled Milestone payment plus the deferred Milestone payment or payments. The only exception is ICL distributions pursuant to Final Completion Milestone, which will be made pursuant to Sections 8.8 and 9.3. (c) Increases to the ICL due to Project performance are not included in Milestone ICL payments, but are only paid at Final Completion of the Project.