Payment of Costs Associated with the Convention Center Sample Clauses

Payment of Costs Associated with the Convention Center. On the Effective Date, Authority shall pay the Initial Development Fee Payment to Developer. Based upon the Convention Center Payment Requests submitted to the Authority by the Developer, the Authority shall make progress payments on account of the Convention Center Contract Sum to the Developer in accordance with the provisions of this Section 9.2. The amount of each progress payment shall be computed as follows: 9.2.1.1. The amount of each progress payment shall first include: a. The Convention Center Costs incurred or to be incurred by Developer and for which Developer has made or intends to make actual payment prior to the next Convention Center Payment Request; b. The Initial Development Fee Payment plus the Remaining Convention Center Development Fee that has accrued as of the date of such Convention Center Payment Request; and c. The Stipulated Convention Center Overhead Amount that has accrued as of the date of such Convention Center Payment Request. 9.2.1.2. The amount of each progress payment shall then be reduced by, without duplication: a. The aggregate of any amounts previously paid by the Authority in respect of the Convention Center Contract Sum; b. The amount by which the Architect, pursuant to the Architect’s Certificate that is attached to such Convention Center Payment Request, reduces the amount to be paid with respect to such Convention Center Payment Request. The Architect may reduce such amount to the extent the work performed by Developer for which payment is requested has not been performed substantially in accordance in all material respects with the Convention Center Plans, in which case the amount to be disbursed under the applicable Convention Center Payment Request shall be reduced to reflect the cost of causing such construction to be performed substantially in accordance in all material respects with the Convention Center Plans (without duplication of any similar reduction that is made by Developer). In the event of any such reduction, Developer may seek payment for the amounts so reduced in any subsequent Convention Center Payment Request; and c. Any amount for which the Developer does not intend to pay General Contractor or any Subcontractor, unless the work has been performed by others the Developer intends to pay.
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