Common use of Payments and Annual Reconciliation Clause in Contracts

Payments and Annual Reconciliation. The City shall pay to the Proponent, during the term of this Agreement, an estimate of the Housing Benefits for each Unit for which Housing Benefits are to be paid, on the first (1st) day of each month following the month in which the term of the residential lease for such Unit commences. Payments will be made for each and every month of the term of each residential lease. The City will reconcile the actual Housing Benefits costs at the end of each fiscal year.

Payments and Annual Reconciliation. The City shall pay to the Proponent, during the term of this Agreement, an estimate of the Housing Benefits for each Unit for which Housing Benefits are to be paid, on the first (1st) day of each month following the month in which the term of the residential lease for such Unit commences. Payments will be made for each and every month of the term of each residential lease. The City will reconcile the actual Housing Benefits costs at the end of each fiscal year.for