Common use of Payment of Termination Amount Clause in Contracts

Payment of Termination Amount. The Calculation Agent shall provide the other Party with written notification of the Slice Termination Payment, as calculated pursuant to this Section 16, as soon as practical after such amounts have been determined and shall provide the other Party with supporting documentation showing in reasonable detail the bids, quotations and other factors used in making such calculations. The amount owed after netting and setoff pursuant to Subsection (g) below shall be due within three (3) Business Days of delivery of such notice and payment shall bear interest at the Present Value Rate from the effective date of the notice of termination until the amount is paid in full. Payment shall be made in conformance with subsections 5(c) and (g) of this Contract.

Appears in 5 contracts

Samples: www.chelanpud.org, www.chelanpud.org, www.chelanpud.org

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