Obligation and Payment Clause Samples

Obligation and Payment. Except as set forth in the Disputes clause of this Agreement, the CM’s liability to make payments to the Consortium Member will not exceed the amount of funds obligated and available for payment under each Project Agreement awarded under this Agreement.

Obligation and Payment. Obligation: Except as specified in Article V: Disputes, the Government’s liability to make payments to the COMPANY is limited only to those funds obligated under this Agreement or by modification to the Agreement. The ACC-NJ Contracting Activity may incrementally fund this Agreement. If modification becomes necessary in performance of this Agreement, pursuant to Article IV of this Agreement, the AO and the COMPANY shall establish and execute a mutually agreed to revised Schedule of Payable Milestones consistent with the current Project Plan.

Obligation and Payment. Section 5.01 Obligation Section 5.02 Project Payments Section 5.03 Accounting System Requirements Section 5.04 Invoicing Instructions

Obligation and Payment. (a) The CM shall submit payment requests and receiving reports using Wide Area Work Flow (WAWF). (b) Invoices will be handled in accordance with the Prompt Payment Act (31 U.S.C. 3903) and Office of Management and Budget (OMB) prompt payment regulations at 5 CFR part 1315. (c) The Government will compensate the CM using a Fixed Management Rate applied to all funding obligated to project agreements. The Fixed Management Rate is contained in a Rate Agreement letter and incorporated by reference. (1) A portion of the Fixed Management Rate (Milestone 0) will be paid to the CM only. Milestone 0 will be payable in two, equal installments. The first installment will be payable by the Government to the CM upon award of a new Project. The second Milestone 0 installment will be payable upon the completion or termination of a Project. The balance of the Fixed Management Rate will be applied to the project agreement milestone schedule and paid out by the Government through delivery and acceptance of the project agreement milestones. (2) The CM’s Fixed Management Rate is based on the estimated cost to manage the Consortium. The Government and CM have the right to renegotiate the Fixed Management Rate for the upcoming year. Such negotiations will be documented each year in a Rate Agreement letter signed by both parties to include the updated Fixed Management Rate and the payout amounts applicable to funding for project agreements in the subsequent year. If neither party exercises adjustments under this provision, the Fixed Management Rate will remain unchanged in the upcoming year. (d) Except as set forth in the Disputes section of this agreement, the Government’s financial liability will not exceed the amount obligated and available for payment under this agreement. (e) The CM, no more frequently than monthly, will prepare a request for payment, which will include the applicable, negotiated payable milestones for each project for the upcoming month and the applicable Fixed Management Rate in accordance with this section. This request shall also include a reconciliation of the previous payments received and milestones completed, and be adjusted accordingly. The CM shall submit a copy of the request for payment to the AOR or designee for approval. After approval by the AOR, the CM shall provide a copy of the approved request for processing to the designated Agreements Officer for payment approval via WAWF. Payment funds shall be maintained in an interest-bearing account ...

Obligation and Payment. The Performer agrees to perform the Agreement up to the point at which the total amount payable by the Government, including reimbursement in the event of termination of those items for the Government’s convenience, is no more than the total amount currently allotted to the Agreement. The Performer will not be obligated to continue work on those items beyond that point. The Government will not be obligated in any event to reimburse the Performer in excess of the amount allotted to the Agreement for those items.

Obligation and Payment. Disputes ...................................................................................................................

Obligation and Payment. A. Obligation Except as specified in Article VII: Disputes, CAO’s liability to make payments to Project Agreement Awardee is limited to those funds obligated under the Project Task Assignments.

Obligation and Payment. The DAF will execute projects in accordance with all laws and regulations listed in Article 2. All funds transmitted must be used for the Project and Project purposes under this Agreement. Funds available for each future FY must be obligated by amendment to this Agreement no later than September 30 of the fiscal year in which the funds were made available. Funds obligated must be expended by the end of the fifth fiscal year in which the funds were obligated; if not so expended they are at risk of expiration and not useable for acquisition Projects under this Agreement. For example, if $200,000 was obligated April 20, 2017, such funds must be expended by September 30, 2022. If the funds are not used for an acquisition of a Real Property Interest and/or implementation of a Nature-Based Solution within the Area of Interest under the Project within three (3) years of obligation, any future FY funding for the Project may be at risk. The Eligible Entity will submit a copy of each invoice to the TPM and PM at least twenty-one (21) days prior to any DAF payment due.

Obligation and Payment. A. Obligation Except as specified in Article VI: Disputes, NSTXL’s liability to make payments to PROJECT AGREEMENT HOLDER is solely limited to those funds obligated and paid by the Government to NSTXL under this Agreement.