Common use of Payment of Third Party Costs Clause in Contracts

Payment of Third Party Costs. Within ten (10) days of the submittal by Authority staff of copies of invoices or xxxxxxxx for Third Party Costs incurred, it is and shall be the obligation of Developer to reimburse and pay to Authority one hundred percent (100%) of these Third Party Costs, unless Developer reasonably contests such Third Party Costs. (a) This reimbursement obligation shall bear interest from the date occurring ten (10) days after Authority gives written demand to Developer at the rate of ten percent (10%), or the maximum rate then permitted by law. (b) This reimbursement obligation shall survive the issuance of the final Release of Construction Covenants for Phase I and termination of this Agreement.

Payment of Third Party Costs. Within ten (10) days of the submittal by Authority staff of copies of invoices or xxxxxxxx for Third Party Costs incurred, it is and shall be the obligation of Developer to reimburse and pay to Authority one hundred percent (100%) of these Third Party Costs, unless Developer reasonably contests such Third Party Costs. (a) This reimbursement obligation shall bear interest from the date occurring ten (10) days after Authority gives written demand to Developer at the rate of ten percent (10%), or the maximum rate then permitted by law. (b) This reimbursement obligation shall survive the issuance of the final Release of Construction Covenants for Phase I II and termination of this Agreement.