Payment After First Three Years Sample Clauses

Payment After First Three Years. On June 30th following the end of the third (3rd) year following construction of the Changeable Message Board(s), Company shall pay City a pro-rata share of the Annual Monetary Value, which pro-rata share shall equal one-twelth (1/12th) the Annual Monetary Value multiplied by the number of months from the end of the third (3rd) year to June 30th. Beginning on the next July 1st and each fiscal year thereafter, Company shall pay City, on the first (1st) day of each month, one-twelfth (1/12th) of the Annual Monetary Value, minus the percentage amount of City Announcements used by the City during the prior fiscal year, as discussed in section 4.3.3 above.
Sample 1
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Payment After First Three Years. At the end of the third Operational Year, and each Operational Year thereafter, Company shall pay City, on the first (1st) day of each month, one-twelfth (1/12th) of the Annual Monetary Value, minus the percentage amount of City Announcements used by the City during the prior Operational Year, as discussed in section 2.3.3 above.
Sample 1

Related to Payment After First Three Years

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

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