Common use of Payment Statement Clause in Contracts

Payment Statement. In accordance with §2252.063, Texas Government Code, Contractor will submit to University, no later than the 15th day after the end of each contract year, an annual payment statement derived from all of Contractor’s sales tax reports for its operations during the preceding contract year. The annual payment statement must be certified by a certified public accountant licensed in the State of Texas. “Contract year” means that period of time beginning on the Effective Date and ending __________, 20____ [Note: Insert date that is 12 months after Effective Date (i.e., if Effective Date is January 1, 2018, then insert December 31, 2018).] and each twelve (12) month period thereafter, during the term of this Agreement.

Payment Statement. In accordance with §2252.063, Texas Government Code, Contractor will submit to University, no later than the 15th day after the end of each contract year, an annual payment statement derived from all of Contractor’s sales tax reports for its operations during the preceding contract year. The annual payment statement must be certified by a certified public accountant licensed in the State of Texas. “Contract year” means that period of time beginning on the Effective Date and ending __________, 20____ [Note: Insert date that is 12 months after Effective Date (i.e., if Effective Date is January 1, 20182007, then insert December 31, 20182007).] and each twelve (12) month period thereafter, during the term of this Agreement.