Common use of Payment Schedules Clause in Contracts

Payment Schedules. 7.1. Payment schedules shall be detailed in each individual contribution-specific agreement. The Commission shall provide an advanced payment of up to 100% of each annual forecasted budget under the conditions for disbursement detailed in the contribution-specific agreement. 7.2. In the case of trust funds or special accounts, the UN may utilise the available balance pertaining to one contribution-specific agreement to meet the immediate, including final, requirements of another providing that: – it anticipates receipt of payment from the Commission for the contribution- specific agreement towards which the available balance was advanced in sufficient time to ensure that the contribution-specific agreement from which the funds were advanced is reimbursed without disruption or delay; – the reimbursement of the contribution-specific agreement from which funds were advanced includes the amount advanced and an amount corresponding to the bank interest, if any, that would have been earned had these funds remained on account.

Payment Schedules. 7.1. Payment schedules shall will be detailed in each individual contribution-specific agreement. The Commission shall provide an advanced payment of up to 100minimum 80% of each annual forecasted budget under the conditions for disbursement detailed in the contribution-specific agreement. 7.2. In the case of trust funds or special accounts, the UN may utilise the available balance pertaining to one contribution-specific agreement to meet the immediate, including final, requirements of another providing that: – it anticipates receipt of payment from the Commission for the contribution- contribution-specific agreement towards which the available balance was advanced in sufficient time to ensure that the contribution-specific agreement from which the funds were advanced is reimbursed without disruption or delay; – the reimbursement of the contribution-specific agreement from which funds were advanced includes the amount advanced and an amount corresponding to the bank interest, if any, that would have been earned had these funds remained on account.