Monthly Invoice Payments. Once each month during the Agreement term The Regents shall invoice the Participant for costs incurred in the previous month. Payment for such costs shall be due upon receipt of the invoice. The Regents is not obligated to continue the work unless it is holding an adequate advance and may stop work if the monthly invoices are not paid on a timely basis. When the advance payment plus the amounts paid in response to the monthly invoices equals the contractual cost limitation, the advance payment will be applied to pay for the remaining costs incurred on the agreement. From that time forth, monthly Expense Statements showing actual costs incurred for the month and the balance remaining in the agreement are mailed to the Participant for information only. The expense statements are not requests for payment. Upon completion of the project there will be a reconciliation of the total costs incurred to total payments received and a final expense statement along with any remaining advance will be returned to the Participant.
Monthly Invoice Payments. Once each month during the Agreement term the Laboratory shall invoice the Sponsor for costs incurred in the previous month. Payment for such costs shall be due not later than thirty (30) days after the invoice date, except to the extent the invoice states that costs are being charged to the advance payment account as provided in Paragraph A above.
Monthly Invoice Payments. Once each month during the Agreement term LBNL [INSERT “and/or additional Labs” IF PARTICIPANT IS FUNDING THEM] shall invoice the Participant for costs incurred in the previous month. Payment for such costs shall be due upon receipt of the invoice. LBNL [INSERT “and/or additional Labs” IF PARTICIPANT IS FUNDING THEM] is not obligated to continue the work unless it is holding an adequate advance and may stop work if the monthly invoices are not paid on a timely basis. When the advance payment plus the amounts paid in response to the monthly invoices equals the contractual cost limitation, the advance payment will be applied to pay for the remaining costs incurred on the agreement. From that time forth, monthly Expense Statements showing actual costs incurred for the month and the balance remaining in the agreement are mailed to the Participant for information only. The expense statements are not requests for payment. Upon completion of the project there will be a reconciliation of the total costs incurred to total payments received and a final expense statement along with any remaining advance will be returned to the Participant.
