Common use of Payment of the Award Clause in Contracts

Payment of the Award. Any monetary award shall be made and payable in US$ free of any tax, deduction or set off. Each party against which the Award assesses a monetary obligation shall pay that obligation on or before the 30th day following the date of the Award or such other date as the Award may provide. The arbitral tribunal shall have the authority to award any remedy or relief proposed by the claimant(s) or respondent(s) in accordance with the terms of this Agreement, including, a declaratory judgment, specific performance of any obligation created under this Agreement or the issuance of any injunction.

Payment of the Award. Any monetary award shall be made and payable in US$ free of any tax, deduction or set offoffset. Each party Party against which the Award assesses a monetary obligation shall pay that obligation on or before the 30th forty fifth (45th) day following the date of the Award or such other date as the Award may provide. The arbitral tribunal Tribunal shall have the authority to award any remedy or relief proposed by the claimant(s) or respondent(s) a Party in accordance with the terms of this Agreement, including, including a declaratory judgment, specific performance of any obligation created under this Agreement or the issuance of any an injunction.