Payment and Financial Terms. Within ten (10) business days of the Effective Date, PCG shall pay to the State the sum of $1,000,000.00 (the “Settlement Payment”). The Settlement Payment shall be made in two wire transfers as follows:
Payment and Financial Terms. AAMVA will pay SSA in three (3) payments throughout the fiscal year (hereinafter referenced as Payment Period 1, Payment Period 2, and Payment Period 3). Such payments cover the following periods of operations. Payment Period 1: 10/1 – 1/31; Payment due by October 1 Payment Period 2: 2/1 – 5/31; Payment due by February 1 Payment Period 3: 6/1 – 9/30; Payment due by June 1 Concurrent with XXXXX’s execution of Form SSA-1235, AAMVA will submit the payment for Payment Period 1 to SSA. If a cost adjustment is required during the fiscal year, the SSA Project Coordinator will promptly make such adjustment by amending the SSA-1235 with AAMVA. Within 30 days following AAMVA’s receipt of the amended SSA-1235, AAMVA will submit the appropriate payment adjustment to SSA. SSA will prepare an annual SSA-1038, Statement of Account/Bill for Goods and Services, within 30 days after the close of the fiscal year. SSA cannot use funds received from a previous fiscal year for services provided in another fiscal year. If any payment is due to SSA for that fiscal year, AAMVA will pay SSA within 30 days of receipt of the bill. If advances exceed actual costs, SSA will reimburse AAMVA within 30 days after the close of the fiscal year. AAMVA will then take the appropriate action to true up any MVA account that has any remaining balance on its payment status. AAMVA is responsible for maintaining its advance payment status with SSA. SSA will bill AAMVA if there are insufficient advanced funds at the end of the fiscal quarter or AAMVA owes SSA at the end of fiscal year closeout. SSA will prepare a quarterly SSA-1038, Statement of Account/Bill for Goods and Services, within 30 days after the end of the quarter. If any payment is due to SSA at the end of a quarterly billing period or fiscal year, AAMVA will pay SSA within 30 days of receipt of the bill. AAMVA will take the appropriate action to collect additional payment for any MVA account that fails to maintain a balance on its payment status.
Payment and Financial Terms. 6.1. You and/or the Resident Representative shall pay the daily private rate as set forth on Exhibit A. Daily charges will be billed in advance on a monthly basis. Payment for your first full month of care plus any days remaining in the month of admission shall be paid to us in advance upon admission. Bills are due and payable upon receipt. Bills not paid by the last day of the month are overdue.
Payment and Financial Terms
