Payment Mechanism. All payments under this Agreement shall be made in United States Dollars, unless otherwise agreed, and within ten (10) days after the end of the month in which the obligation to make the payment is incurred to a bank specified by the Party to whom the payment is due.
Payment Mechanism. 9.4.1 KSIDC shall be the payment agency for all kind of payments, except Power tariff, that are required to be made to the Concessionaire, as envisaged in this Concession Agreement, based on instructions issued by the PMU/ Authority.
9.4.2 The Power Tariff shall be paid to the Concessionaire by KSEB as per signed PPA, at a power tariff provided in Article 9.3.1;
9.4.3 For the payments as provided in Article 9.1, The Concessionaire shall raise by 5th day of a Month, the xxxx/ invoice for the Tipping Fee for the preceding month. The invoice thus raised shall, subject to due performance by Concessionaire and other terms and conditions of this Agreement, shall be approved by the PMU / Authority by 15th of the month and directed to KSIDC for release of payment.
9.4.4 The Authority shall deduct/ withhold the following during the Concession Period:
i. Statutory deductions as per applicable rules and laws.
ii. Any penalties based on the Service Level Benchmarks, as specified in Schedule 2.
9.4.5 KSIDC shall, subject to the terms of this agreement, pay 90% of the xxxx amount, to the Concessionaire by the end of the month in which the xxxx has been raised. The remaining 10% of the xxxx amount shall be paid by KSIDC by the end of the third month, subject to deductions as applicable and approved by the PMU/ the Authority.
9.4.6 KSIDC shall, subject to terms of this Agreement, pay the amount against bills of the Concessionaire through the Escrow Account mechanism by deposit of the relevant amount in the Escrow. Further, subject to due performance of obligations by the Concessionaire, KSIDC shall, by way of additional security for payment, deposit and maintain at all times, an amount equivalent to fee corresponding to next three months payment in the Escrow Account.
Payment Mechanism. 6.3.1 All payment to be made by MSEDCL to the Generator under this Agreement shall be made by RTGS / Electronic Transfer. For payment through RTGS / Electronic Transfer the Generator shall submit the notarized affidavit on Rs. 200/- stamp paper mentioning the name of the bank alongwith bank & account details, in accordance with the provisions of Clause 6.2 above.
Payment Mechanism. Subject to Paragraph 6 of this Agreement, within eight calendar days after (a) entry of a Final Judgment, (b) the entry of an order requiring that payment be made as part of a Settlement of the Class Action, or (c) the execution by all parties thereto of any Settlement of any Individual Plaintiff Action, Subsequent Individual Plaintiff Action, or Opt-Out Action, each Signatory hereto shall cause the amount of its Settlement-Sharing Payment Obligation or Judgment-Sharing Payment Obligation (as applicable) under this Agreement to be paid, by wire transfer, into a segregated escrow account (the “MasterCard-Related Payment Escrow Account”) to be established for the receipt of such funds from the Signatories and for the payment of the Settlement or Final Judgment to be paid by Signatories to Claimants in accordance with this Agreement. Notwithstanding the foregoing, (i) the Signatories may provide in a Settlement agreement for an alternative mechanism for the timing of the Signatories’ payment of any Settlement-Sharing Payment Obligation under this Agreement, or (ii) in the event that a stay is granted with respect to the Monetary Portion (or portion thereof) of any Final Judgment, then the time contemplated for the Signatories to satisfy its Judgment-Sharing Payment Obligation with respect to that Monetary Award (or portion thereof) shall run from the date on which the stay is lifted.
Payment Mechanism. Apart from the Progress Payments, payment by the Province to the Contractor under this Agreement shall be in the form of a single monthly payment (the “Payment”) comprised of the amounts described below in clauses (a) and (b) less the amounts described below in clauses (c), (d) and (e):
(a) the amount of the Capital Payment as set out in Schedule 14 (Payment Schedule) as amended and adjusted under Sections 9.4 through 9.6, as applicable; plus
(b) the amount of the O&M Payment as set out in Schedule 14 (Payment Schedule) as amended and adjusted:
(i) under Sections 9.4 through 9.6, as applicable;
(ii) from time to time in accordance with the Index Factor, in accordance with Section 10.1; and
(iii) from time to time in accordance with the Traffic Volume Adjustment; less
(c) the amount of any holdback made by the Province in accordance with Section 5.17 or Section 8.4; and
(d) the amount of any Payment Adjustments (excluding Traffic Volume Adjustments) made by the Province in accordance with Section 10.2; and
(e) any amount set off by the Province in accordance with Section 9.8. In the event that the above calculation produces a negative amount for any month, such amount may be set off by the Province against the Payment for the next following month (or, if necessary, months). The Province’s obligation to make the Payment each month until expiry of the Term (or earlier termination of this Agreement in accordance with its provisions) shall not be interrupted, abated or adjusted except as expressly set out in this Agreement.
Payment Mechanism. All Pan American Shares issuable in respect of the Rights will be automatically issued on the Payment Date for and on behalf of the Holders thereof and the Holders thereof shall, without payment of additional consideration or any further action on the part of the Holders thereof (including the surrender of any Rights Certificates), be deemed to have subscribed for the corresponding number of Pan American Shares issuable pursuant to such Rights and the parties hereby irrevocably authorize the issuance of the Pan American Shares. Pan American or its registrar and transfer agent shall cause to be mailed to the address of the Holder of the Rights last appearing on the register of Holders maintained by the Rights Agent pursuant to Section 2.8, Pan American Shares in the name of such Holder representing the CVR Payment Amount issuable to the Holder in respect of such Rights, as fully paid and non-assessable shares of Pan American, in accordance with Section 2.2, if and when necessary.
Payment Mechanism. 6.2.1. The payment shall be made to the AMISP in Indian Rupees (INR) only.
6.2.2. The payment to the AMISP shall commence only after: (i) Delivery, site installation and commissioning of Network Operations cum Monitoring Centre with related hardware, software and equipment; and (ii) Delivery, site installation, integration and operationalization of first lot of [5]% Smart Meters each with related hardware, software and equipment and successful Operational Go-Live of the system as defined in this Contract.
6.2.3. The payments due to the AMISP from the Utility shall be paid on monthly basis as per the following payment structure:
Payment Mechanism. If the Buyer makes the Election pursuant to --- ----------------- Section
7.1 (a), the Buyer shall pay to the Sellers the amount of the Election Tax Cost by March __, 1999. The Buyer's determination of the Election Tax Cost shall be final and binding upon the parties to this Agreement unless within thirty (30) days after receipt by the Sellers of the Buyer's computation of the Election Tax Cost the Sellers shall have delivered to the Buyer a notice (an "ETC Disagreement Notice") setting forth specific ----------------------- objections to the amount or calculations of the Election Tax Cost. If any ETC Disagreement Notice is delivered by the Sellers to the Buyer in a timely manner indicating objections to the amount of the Election Tax Cost, then during a period of ten (10) Business Days following delivery by the Sellers of such ETC Disagreement Notice, the Buyer and the Sellers shall attempt to resolve, in writing, any differences they have with respect to any matter specified in the ETC Disagreement Notice and to agree on the amounts of the calculations made in determining the Election Tax Cost. If at the end of such 10-Business Day period, the Buyer and the Sellers have failed to reach written agreement with respect to any of such matters, then either of the Buyer or the Sellers may submit a demand for resolution as to matters as to which they have failed to reach written agreement to the CPA Firm (in such capacity, the "ETC --- Accountant"
Payment Mechanism. All sums due under this Agreement:
4.2.1 are exclusive of Value Added Tax, or similar sales tax, which where applicable will be paid by Nuvectis to University in addition;
4.2.2 shall be paid in US DOLLARS (unless stated otherwise) in cash (cleared funds) by transferring an amount to the bank account as specified by the University in Schedule 11, and in the case of Net Sales generated and Sub-Licensee Revenues received by Nuvectis in a currency other than US DOLLARS, the rate of exchange to be used for converting such other currency into US DOLLARS shall be the average of the exchange rate published in the Wall Street Journal, Western Edition, under the heading “Currency Trading” on the first Business Day of each month in the Quarter. All costs of transmission and currency conversion shall be borne by Nuvectis;
4.2.3 shall be made without deduction of income tax or other taxes charges or duties that may be imposed, except insofar as Nuvectis is required to deduct the same to comply with applicable laws. The Parties shall cooperate and take all steps reasonably and lawfully available to them to avoid deducting such taxes and to obtain double taxation relief. If Nuvectis is required to make any such deduction it shall provide University with such certificates or other documents as it can reasonably obtain to enable University to obtain appropriate relief from double taxation of the payment in question; and
4.2.4 shall be made by the due date, failing which University may charge interest on any outstanding amount from the due date onwards on a daily basis at a rate equivalent to [***] per cent ([***]%) per annum above the Royal Bank of Scotland plc base lending rate then in force in Edinburgh, provided in each case that University has notified Nuvectis in writing of such non-payment.
Payment Mechanism. Full payment in the amount of $675,000 shall be advanced to the County upon execution of agreement.
