Common use of Payment; Consortium Funds Clause in Contracts

Payment; Consortium Funds. Each Party will timely pay its Contribution amount based on the then-applicable Contribution Percentages. In September each year, Consortium will invoice each Party for the Party’s Contribution amount. Each Party will pay the amount due under each invoice within thirty (30) days after the Party’s receipt of the invoice. Consortium will maintain one or more bank accounts dedicated to the purpose of recording financial transactions specific to Consortium activities. All funds received by the Consortium, including, without limitation, funds contributed in accordance with this Section 5.4, will be maintained in Consortium accounts. Consortium funds will not be commingled with any Party funds.

Payment; Consortium Funds. Each Party will timely pay its Contribution amount based on the then-applicable Contribution PercentagesSchedule. In September each year, Consortium will invoice each Party for the Party’s Contribution amount. Each Party will pay the amount due under each invoice within thirty (30) days after the Party’s receipt of the invoice. Consortium will maintain one or more bank accounts dedicated to the purpose of recording financial transactions specific to Consortium activities. All funds received by the Consortium, including, without limitation, funds Funds contributed in accordance with this Section 5.4, 5.2 will be maintained in Consortium accounts. Consortium funds will not be commingled with any Party fundsfunds (and will be maintained in accounts separate from any Party accounts).

Payment; Consortium Funds. Each Party will timely pay its Contribution amount based on the then-applicable Contribution PercentagesSchedule. In September each year, Consortium will invoice each Party for the Party’s Contribution amount. Each Party will pay the amount due under each invoice within thirty (30) days after the Party’s receipt of the invoice. Consortium will maintain one or more bank accounts dedicated to the purpose of recording financial transactions specific to Consortium activities. All funds received by the Consortium, including, without limitation, including but not limited to funds contributed in accordance with this Section 5.4, 5.3 will be maintained in Consortium accounts. Consortium funds will not be commingled with any Party fundsfunds (and will be maintained in accounts separate from any Party accounts).