Payment Obligations of District Sample Clauses

Payment Obligations of District. For the 2020-2021 fiscal year, in exchange for all services to be rendered by City Year, District will pay compensation to City Year in aggregate amount not to exceed $1,250,000.00. Payment will be made in ten (10) monthly invoices at $12,500.00 each with the first invoice being due September 15, 2020 for services rendered in August, and each subsequent invoice being due the 15th day of the month for the services provided in the prior monthly reporting period, and the tenth and final invoice being due June 15, 2021. No other or additional amounts will be due from or owed by District shall issue payment in accordance with Sections 218.70, et sq. Florida Statutes, Local Government Prompt Payment Act, after receipt of an acceptable invoice from City Year (including the provision of each monthly report summarizing the services provided as described below), inspection and acceptance of goods and/or services provided in accordance with the terms and conditions of the Agreement. Any penalty for delay in payment shall be in accordance with applicable law. City Year shall collect and report to District data relating to the services, including without limitation, attendance rosters of active and inactive student participants in the program for each month, which monthly reports shall be delivered monthly to the District with each monthly invoice. The District shall provide to City Year the format to be utilized for such monthly report. City Year understands and agrees that it shall provide monthly reports to the District, and monthly invoices to the District, which are separate from any interim reports described in Appendix B.
Sample 1
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Payment Obligations of District a. District shall pay to Provider the following amounts, as adjusted below, in cash during each of the 12 month periods following commencement of the Term: Amount Period ------ ------ $8,000,000 First 12 months $8,000,000 Second 12 months $8,000,000 Third 12 months $8,000,000 Fourth 12 months $6,000,000 Each of the succeeding 12 months through the 25th (or 40th if Provider option under paragraph 7(b) is exercised) 12-month period following the Closing Date.
Sample 1
Payment Obligations of District. For the 2018-2019 fiscal year, in exchange for all services to be rendered by City Year, District will pay compensation to City Year in aggregate amount not to exceed $1,250,000.00. Payment will be made in 4 equal monthly installments of $312,500, on September 1, 2018, December 1, 2018, March 1, 2019 and June 1, 2019. No other or additional amounts will be due from or owed by District shall issue payment in accordance with Sections 218.70, et sq. Florida Statutes, Local Government Prompt Payment Act, after receipt of an acceptable invoice from City Year (including the provision of a monthly report summarizing the services provided as described below), inspection and acceptance of goods and/or services provided in accordance with the terms and conditions of the Agreement. Any penalty for delay in payment shall be in accordance with applicable law. City Year shall collect and report to District data relating to the services, including without limitation, attendance rosters of active and inactive student participants in the program for the prior month, which report shall be delivered with the monthly invoice. Such report shall also provide interim reports as set forth in Appendix B. District shall provide to City Year the format to be utilized for such monthly report.
Sample 1

Related to Payment Obligations of District

  • Payment Obligations Absolute The Company’s obligation during and after the Employment Period to pay the Executive the amounts and to make the benefit and other arrangements provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any setoff, counterclaim, recoupment, defense or other right which the Company may have against him or anyone else. Except as provided in Section 15, all amounts payable by the Company hereunder shall be paid without notice or demand. Each and every payment made hereunder by the Company shall be final, and the Company will not seek to recover all or any part of such payment from the Executive, or from whomsoever may be entitled thereto, for any reason whatsoever.

  • Repayment Obligation In the event that any State and/or federal funds are deferred and/or disallowed as a result of any audits or expended in violation of the laws applicable to the expenditure of such funds, the Contractor shall be liable to the Agency for the full amount of any claim disallowed and for all related penalties incurred. The requirements of this paragraph shall apply to the Contractor as well as any subcontractors.

  • ADDITIONAL PAYMENT OBLIGATIONS 15. Tax gross-up and indemnities

  • The Reimbursement Obligations Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall promptly notify the Borrower and the Administrative Agent thereof. Subject to Section 1.3(b) hereof, the obligation of the Borrower to reimburse the L/C Issuer for all drawings under a Letter of Credit (a “Reimbursement Obligation”) shall be governed by the Application related to such Letter of Credit, except that reimbursement shall be made by no later than 1:00 p.m. (Chicago time) on the date when each drawing is to be paid if the Borrower has been informed of such drawing by the L/C Issuer on or before 11:00 a.m. (Chicago time) on the date when such drawing is to be paid or, if notice of such drawing is given to the Borrower after 11:00 a.m. (Chicago time) on the date when such drawing is to be paid, by no later than 12:00 Noon (Chicago time) on the following Business Day, in immediately available funds at the Administrative Agent’s principal office in Chicago, Illinois or such other office as the Administrative Agent may designate in writing to the Borrower (who shall thereafter cause to be distributed to the L/C Issuer such amount(s) in like funds). If the Borrower does not make any such reimbursement payment on the date due and the Participating Lenders fund their participations therein in the manner set forth in Section 1.3(e) below, then all payments thereafter received by the Administrative Agent in discharge of any of the relevant Reimbursement Obligations shall be distributed in accordance with Section 1.3(e) below; provided, however, if the Borrower does not make any such reimbursement payment on the due date, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans under the Revolving Credit and, subject to satisfaction of the conditions set forth in Section 7.1 except for 7.1(c) hereof, a Loan shall be made on such date in the amount of the Reimbursement Obligations then due which Loan proceeds shall be applied to pay the Reimbursement Obligations then due.

  • Payment Obligation of Lenders Each Lender severally agrees to pay to the Agent on demand in immediately available funds in Dollars the amount of such Lender’s Commitment Percentage of each drawing paid by the Agent under each Letter of Credit to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.3.(d); provided, however, that in respect of any drawing under any Letter of Credit, the maximum amount that any Lender shall be required to fund, whether as a Revolving Loan or as a participation, shall not exceed such Lender’s Commitment Percentage of such drawing. If the notice referenced in the second sentence of Section 2.3.(e) is received by a Lender not later than 11:00 a.m., then such Lender shall make such payment available to the Agent not later than 2:00 p.m. on the date of demand therefor; otherwise, such payment shall be made available to the Agent not later than 1:00 p.m. on the next succeeding Business Day. Each such Lender’s obligation to make such payments to the Agent under this subsection, and the Agent’s right to receive the same, shall be absolute, irrevocable and unconditional and shall not be affected in any way by any circumstance whatsoever, including without limitation, (i) the failure of any other Lender to make its payment under this subsection, (ii) the financial condition of the Borrower or any other Loan Party, (iii) the existence of any Default or Event of Default, including any Event of Default described in Section 11.1.(f) or 11.1.(g) or (iv) the termination of the Commitments. Each such payment to the Agent shall be made without any offset, abatement, withholding or deduction whatsoever.

  • Conditions of the Obligations of the Underwriters The obligations of the several Underwriters to purchase and pay for the Firm Securities on the First Closing Date and the Optional Securities to be purchased on each Optional Closing Date will be subject to the accuracy of the representations and warranties of the Company herein (as though made on such Closing Date), to the accuracy of the statements of Company officers made pursuant to the provisions hereof, to the performance by the Company of its obligations hereunder and to the following additional conditions precedent:

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