Common use of Payment Commencement Date Clause in Contracts

Payment Commencement Date. (a) Except as hereinafter provided, fees, rates, and charges for the goods and services provided by the Authority to Participant under this Contract shall begin to accrue as of the Payment Commencement Date. (b) If Participant executes this Contract after the Payment Commencement Date, then the Participant shall pay an equalization fee on the Effective Date which equals (i) the entire amount of the payments that Participant would have made from and after the Payment Commencement Date under the requirements of this Contract and the Rate Order, plus interest thereon compounded annually at the Applicable Interest Rate, and (ii) the Authority's actual or estimated increased costs incurred in connection with the development and implementation of the GRP and the design and permitting of the Project, plus interest thereon compounded annually at the Applicable Interest Rate, as calculated by the GRP Administrator, that would have been avoided if this Contract had been executed by Participant on or before the Payment Commencement Date, all as reasonably determined by the GRP Administrator.

Payment Commencement Date. (a) Except as hereinafter provided, fees, rates, and charges for the goods and services provided by the Authority to Participant under this Contract shall begin to accrue as of the Payment Commencement Date. (b) If Participant executes this Contract after the Payment Commencement Date, then the Participant shall pay an equalization fee on the Effective Date which equals (i) the entire amount of the payments that Participant would have made from and after the Payment Commencement Date under the requirements of this Contract and the Rate Order, plus interest thereon compounded annually at the Applicable Interest Rate, and (ii) the Authority's actual or estimated increased costs incurred in connection with the development and implementation of the GRP and the design and permitting of the Project, plus interest thereon compounded annually at the Applicable Interest Rate, as calculated by the GRP Administrator, that would have been avoided if this Contract had been executed by Participant on or before the Payment Commencement Date, all as reasonably determined by the GRP Administrator.Administrator in his or her sole discretion..

Payment Commencement Date. (a) Except as hereinafter provided, fees, rates, and charges for the goods and services provided by the Authority to Participant under this Contract shall begin to accrue as of the Payment Commencement Date. (b) If Participant executes this Contract after the Payment Commencement Date, then the Participant shall pay an equalization fee on the Effective Date which equals (i) the entire amount of the payments that Participant would have made from and after the Payment Commencement Date under the requirements of this Contract and the Rate Order, plus interest thereon compounded annually at the Applicable Interest Rate, and (ii) the Authority's actual or estimated increased costs incurred in connection with the development and implementation of the GRP and the design and permitting of the Project, plus interest thereon compounded annually at the Applicable Interest Rate, as calculated by the GRP Administrator, that would have been avoided if this Contract had been executed by Participant on or before the Payment Commencement Date, all as reasonably determined by the GRP AdministratorAdministrator in his or her sole discretion. .