Payment for Estimated Clause Samples
The "Payment for Estimated" clause establishes that payments will be made based on estimated amounts rather than final, exact figures. In practice, this means that a party, such as a contractor, may submit invoices or requests for payment reflecting projected costs or quantities, which are then paid by the other party subject to later adjustment. This approach facilitates timely cash flow and project progress by allowing work to continue without waiting for precise calculations, while also providing a mechanism to reconcile any differences once actual amounts are determined.
Payment for Estimated. Initial Inventory (Initial Step-in Payment). Promptly after the opening of financial markets in New York, New York on the Commencement Date, and subject to satisfaction of the conditions set forth in Section 2.6.1, ▇▇▇▇ shall pay *****% of the Estimated Initial Inventory Purchase Price to PRC by wire transfer of immediately available funds; provided, however, that PRC may, at its election, direct that all or a portion of the Estimated Initial Inventory Purchase Price be paid to MSCG on PRC’s behalf in accordance with the Payment Direction Letter, and the Parties agree to use commercially reasonable efforts to coordinate the respective timing of payments made pursuant to the Payment Direction Letter; provided, further, for the avoidance of doubt, title to the Initial Inventory shall pass from PRC to ▇▇▇▇, consistent with PRC’s warranty of title set forth in Section 11.1.1 and at and as of the time specified in the definition of the Commencement Date, subject to PRC’s confirmation of receipt of funds in an amount equal to such Estimated Initial Inventory Purchase Price.
Payment for Estimated. Initial Inventory (Initial Step-in Payment). Promptly after the opening of financial markets in New York, New York on the Commencement Date, and subject to satisfaction of the conditions set forth in Section 2.6.1, ▇▇▇▇ shall pay *****% of the Estimated Initial Inventory Purchase Price to DCR by wire transfer of immediately available funds; provided, however, that DCR may, at its election, direct that all or a portion of the Estimated Initial Inventory Purchase Price be paid to MSCG on DCR’s behalf in accordance with the Payment Direction Letter, and the Parties agree to use commercially reasonable efforts to coordinate the respective timing of payments made pursuant to the Payment Direction Letter; provided, further, for the avoidance of doubt, title to the Initial Inventory shall pass from DCR to ▇▇▇▇, consistent with DCR’s warranty of title set forth in Section 11.1.1 and at and as of the time specified in the definition of the Commencement Date, subject to DCR’s confirmation of receipt of funds in an amount equal to such Estimated Initial Inventory Purchase Price.
Payment for Estimated. Initial Inventory (Initial Step-in Payment). Promptly after the opening of financial markets in New York, New York on the Commencement Date, and subject to satisfaction of the conditions set forth in Section 2.6.1 of the Original DCRC Inventory Intermediation Agreement, ▇▇▇▇ shall pay 100% of the Estimated Initial Inventory Purchase Value to DCRC and PBFH by wire transfer of immediately available funds; provided, however, that DCR may, at its election, direct that all or a portion of the Estimated Initial Inventory Purchase Value be paid to MSCG on DCRC’s and PBFH’s behalf in accordance with the Payment Direction Letter, and the Parties agree to use commercially reasonable efforts to coordinate the respective timing of payments made pursuant to the Payment Direction Letter; provided, further, for the avoidance of doubt, title to the Initial Inventory shall pass from DCRC and PBFH to ▇▇▇▇, consistent with DCRC’s and PBFH’s warranty of title set forth in Section 11.1.1 and at and as of the time specified in the definition of the Commencement Date, subject to DCRC’s and PBFH’s confirmation of receipt of funds in an amount equal to such Estimated Initial Inventory Purchase Value.