Common use of Payment of Rebate Clause in Contracts

Payment of Rebate. 10.7.1 In case the Long Term Transmission Customer pays to the TSP through any mode of payment in respect of a Monthly Transmission Charge Invoice or Supplementary Xxxx, the following shall apply: a. For payment of Invoices through any mode of payment, a Rebate of 2% shall be allowed on the Monthly Transmission Charge Invoice or Supplementary Xxxx for payments made in full within one Business Day of the receipt of the Invoice; or b. For payment of Invoices subsequently, but within the Due Date, a Rebate of 1% shall be allowed on the payments made in full. c. Applicable rate of Rebate at (a) and (b) above shall be based on the date on which the payment has been actually credited to the TSP‟s account. Any delay in transfer of money to the TSP‟s account, on account of a statutory holiday, public holiday, or any other reasons shall be to the account of the Long Term Transmission Customers. d. No Rebate shall be payable on the bills raised on account of Change in Law relating to taxes, duties and cess; Provided that if any Long Term Transmission Customer fails to pay a Monthly Transmission Charge Invoice/ Supplementary Xxxx or part thereof within and including the Due Date, the TSP shall recover such amount as per provisions of Article 10.11.1(f).

Payment of Rebate. 10.7.1 In case the Long Term Transmission Customer pays to the TSP through any mode of payment in respect of a Monthly Transmission Charge Invoice or Supplementary Xxxx, the following shall apply: a. For payment of Invoices through any mode of payment, a Rebate of 2% shall be allowed on the Monthly Transmission Charge Invoice or Supplementary Xxxx for payments made in full within one Business Day of the receipt of the Invoice; or b. For payment of Invoices subsequently, but within the Due Date, a Rebate of 1% shall be allowed on the payments made in full. c. Applicable rate of Rebate at (a) and (b) above shall be based on the date on which the payment has been actually credited to the TSP‟s TSP’s account. Any delay in transfer of money to the TSP‟s TSP’s account, on account of a statutory holiday, public holiday, or any other reasons shall be to the account of the Long Term Transmission Customers. d. No Rebate shall be payable on the bills raised on account of Change in Law relating to taxes, duties and cess; Provided that if any Long Term Transmission Customer fails to pay a Monthly Transmission Charge Invoice/ Supplementary Xxxx or part thereof within and including the Due Date, the TSP shall recover such amount as per provisions of Article 10.11.1(f).

Payment of Rebate. 10.7.1 In case the Long Term Transmission Customer pays to the TSP through any mode of payment in respect of a Monthly Transmission Charge Invoice or Supplementary XxxxBill, the following shall apply: a. For payment of Invoices through any mode of payment, a Rebate of 2% shall be allowed on the Monthly Transmission Charge Invoice or Supplementary Xxxx Bill for payments made in full within one Business Day of the receipt of the Invoice; or b. For payment of Invoices subsequently, but within the Due Date, a Rebate of 1% shall be allowed on the payments made in full. c. Applicable rate of Rebate at (a) and (b) above shall be based on the date on which the payment has been actually credited to the TSP‟s TSP’s account. Any delay in transfer of money to the TSP‟s TSP’s account, on account of a statutory holiday, public holiday, or any other reasons shall be to the account of the Long Term Transmission Customers. d. No Rebate shall be payable on the bills raised on account of Change in Law relating to taxes, duties and cess; Provided that if any Long Term Transmission Customer fails to pay a Monthly Transmission Charge Invoice/ Supplementary Xxxx Bill or part thereof within and including the Due Date, the TSP shall recover such amount as per provisions of Article 10.11.1(f10.11.1 (f).

Payment of Rebate. 10.7.1 In case the Long Term Transmission Customer pays to the TSP through any mode of payment in respect of a Monthly Transmission Charge Invoice or Supplementary Xxxx, the following shall apply: a. For payment of Invoices through any mode of payment, a Rebate of 2% shall be allowed on the Monthly Transmission Charge Invoice or Supplementary Xxxx for payments made in full within one Business Day of the receipt of the Invoice; or b. For payment of Invoices subsequently, but within the Due Date, a Rebate of 1% shall be allowed on the payments made in full. c. Applicable rate of Rebate at (a) and (b) above shall be based on the date on which the payment has been actually credited to the TSP‟s TSP’s account. Any delay in transfer of money to the TSP‟s TSP’s account, on account of a statutory holiday, public holiday, or any other reasons shall be to the account of the Long Term Transmission Customers. d. No Rebate shall be payable on the bills raised on account of Change in Law relating to taxes, duties and cess; Provided that if any Long Term Transmission Customer fails to pay a Monthly Transmission Charge Invoice/ Supplementary Xxxx or part thereof within and including the Due Date, the TSP shall recover such amount as per provisions of Article 10.11.1(f10.11.1 (f).