Owner Payment. The billing period for water sales to the Owner shall commence on the Commencement Date and continue on the first day of each month thereafter, and shall end on the last day of the term of this Agreement. The Authority shall deliver a bill to the Owner by the fifth (5th) of the month following the Commencement Date and each month thereafter in an amount for one-twelfth (1/12) the Total Annual Charge forecasted in accordance with Section IV. Monthly payments shall cover the Owner’s obligations from the immediately preceding month. On the first day of each calendar quarter, quarterly adjustments shall be made based on meter readings in order to reconcile differences between Take or Pay Volumes and actual charges based on the volume of consumed water, and to bill for the appropriate Authority O&M Charges based on the actual volume of water consumed, and such adjustments shall be billed separately at the time of the next Take or Pay monthly invoice.
Owner Payment. (a) All payments deferred under Section 2 of this Amendment shall be made as follows. The Deferred Payment Amount shall be paid in eighteen (18) equal Monthly installments plus interest accrued pursuant to this Amendment at the Interest Rate, commencing on the first day of the Month following Substantial Completion in accordance with the Payment Schedule attached hereto as Exhibit A. Interest shall commence accruing on any portion of the Deferred Payment Amount from the date payment is due on any Invoice properly issued pursuant to Article 7 of the Agreement, and the interest accrued before Substantial Completion shall be paid in full as part of the first installment payment. Notwithstanding any other provision of the Agreement, this Amendment or law to the contrary, Owner shall not be liable to pay interest on any portion of any Invoice or claim for payment by Contractor on account of Contractor’s Fee as long as Owner meets its payment obligations in accordance with this Amendment.
Owner Payment. If Contractor is not paid by Owner any sum claimed due by Subcontractor, Subcontractor agrees to look solely to the credit abilities of Owner, and not of Contractor for payments under this Subcontract. It is expressly agreed that under this Subcontract, except to the extent of such Owner payments made to Contractor pertaining to Subcontractor’s work, Contractor’s payment obligations to Subcontractor are non-recourse to any assets of Contractor until such time as Subcontractor has exhausted its remedies against Owner, including mechanic’s lien, stop notice, or bond remedies. In the event Contractor is involved with a claim to Owner which includes seeking amounts for final payment or progress payments to Subcontractor, Subcontractor agrees not to pursue a claim against Contractor or its surety until Contractor’s dispute resolution requirements, including lawsuits, have been completed with Owner. This clause does not alter or limit Subcontractor’s right to file a lien or stop notice to the extent such rights exist. If any portion of this section is determined to be void, invalid or illegal, all other portions of this section shall remain in full force and effect.
Owner Payment. Upon failure by Owner to pay Contractor as stated in section 17.1(i), Contractor may suspend further Work on Project until payment is made; if no payment or cure is made after thirty (30) days of Owner being found in default of this Contract, Contractor shall have no further obligation to Owner under the terms of this Contract.
Owner Payment. Owner agrees to pay Contractor the total remaining balance of the project above and beyond the Community Heat Pump grant amount awarded by NI under this Agreement and further defined within Section 6. DRAFT Owner may withhold all or a portion of the final payment in an amount reasonably calculated to protect the Owner on account of (a) defective work not remedied; (b) claims filed or a reasonable basis to believe that claims will be filed; (c) failure of the Contractor to properly make payments for labor, materials, equipment or subcontracts; or (d) Contractor’s significant failure to perform in accordance with this Contract. Contractor is solely responsible for making timely payment to all subcontractors and suppliers arising out of or related to the Work.
Owner Payment. If Prime Contractor is not paid by Owner any sum claimed due by Subcontractor, Subcontractor agrees to look solely to the credit abilities of Owner, and not of Prime Contractor for payments under this Subcontract. It is expressly agreed that under this Subcontract, except to the extent of such Owner payments made to Prime Contractor pertaining to Subcontractor’s work, Prime Contractor’s payment obligations to Subcontractor are non- recourse to any assets of Prime Contractor until such time as Subcontractor has exhausted its remedies against Owner, including mechanic’s lien, stop notice, or bond remedies. In the event Prime Contractor is involved with a claim to Owner which includes seeking amounts for final payment or progress payments to Subcontractor, Subcontractor agrees not to pursue a claim against Prime Contractor or its surety until Prime Contractor’s dispute resolution requirements, including lawsuits, have been completed with Owner.
