Common use of Payment and Offset Clause in Contracts

Payment and Offset. (a) Subject to Section 2.11(b), Taxes collectable by one Party from another Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another Party under this Agreement against Taxes or other amounts receivable from such other Party pursuant to this Agreement or any of the other Formal Agreements, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 3 contracts

Samples: Transmission Service Agreement, New Brunswick Transmission Utilization Agreement, Mepco Transmission Rights Agreement

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Payment and Offset. (a) Subject to Section 2.11(b2.8(b), Taxes collectable by one Party from another Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another Party under this Agreement against Taxes or other amounts receivable from such other Party pursuant to this Agreement or any of the other Formal Agreements, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 3 contracts

Samples: Transmission Funding Agreement, Lil Assets Agreement, Lease Agreement

Payment and Offset. (a) Subject to Section 2.11(b4.4(b), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 3 contracts

Samples: Transmission Service Agreement, Transmission Service Agreement, Transmission Service Agreement

Payment and Offset. (ai) Subject to Section 2.11(b5.7(i)(ii), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (bii) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 2 contracts

Samples: Joint Operations Agreement, Joint Operations Agreement

Payment and Offset. (a) Subject to Section 2.11(b7.4(b), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 2 contracts

Samples: Mepco Transmission Rights Agreement, Lil Assets Agreement

Payment and Offset. (a) Subject to Section 2.11(b3.4(b), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Energy and Capacity Agreement

Payment and Offset. (a) Subject to Section 2.11(b3.4(b), Taxes collectable by one Party from another Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another Party under this Agreement against Taxes or other amounts receivable from such other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Remedies Agreement

Payment and Offset. (a) Subject to Section 2.11(b10.4(b), Taxes collectable collectible by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days 20 Business Days of receipt of an invoice. (b) A Provided all amounts due under the Initial Financing are Paid in Full, a Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Power Purchase Agreement

Payment and Offset. (a) Subject to Section 2.11(b11.4(b), Taxes collectable collectible by one Party from another Party pursuant to this Agreement will be payable in immediately available funds within 30 days 20 Business Days of receipt of an invoice. (b) A Provided all amounts due under the Initial Financing are Paid in Full, a Party may offset amounts of Taxes owing to another Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Generator Interconnection Agreement

Payment and Offset. (a) Subject to Section 2.11(b8.4(b), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Lease Agreement

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Payment and Offset. (ai) Subject to Section 2.11(b8.8(i)(ii), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another Party under this Agreement against Taxes or other amounts receivable from such other Party pursuant to this Agreement or any of the other Formal Agreements, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Joint Development Agreement

Payment and Offset. (a) Subject to Section 2.11(b14.4(b), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Interconnection Operators Agreement

Payment and Offset. (a) Subject to Section 2.11(b11.4(b), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: New Brunswick Transmission Utilization Agreement

Payment and Offset. (a) Subject to Section 2.11(b7.4(b), Taxes collectable by one Party from another Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another Party under this Agreement against Taxes or other amounts receivable from such other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Transmission Funding Agreement

Payment and Offset. (a) Subject to Section 2.11(b5.4(b), Taxes collectable by one Party from another the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may offset amounts of Taxes owing to another the other Party under this Agreement against Taxes or other amounts receivable from such the other Party pursuant to this Agreement or any of the other Formal AgreementsAgreement, subject to reporting and remittance of such offset Taxes in accordance with Applicable Law.

Appears in 1 contract

Samples: Nova Scotia Transmission Utilization Agreement

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