Common use of Payments by Company Clause in Contracts

Payments by Company. 8.2.1 In consideration of the provision by the Council of the Council Assets, ICT System, Council Services and the Premises Licence, the Company shall pay the Company Annual Fee. 8.2.2 The Company Annual Fee shall be computed by the Council reflecting arm's length principles, and include an appropriate level of profit. 8.2.3 The Company Annual Fee for the first Contract Year of this Agreement shall be £611,289 (plus VAT) which is the pro-rated sum for the first Contract Year as set out in the Business Budget. 8.2.4 The Company Annual Fee for each subsequent year shall be reviewed and agreed between the Parties as part of the annual process to agree the Business Plan. The review will include (among other things) any requirement for a change to the Council Services, Council Assets, ICT System and/or Premises Licence which has an impact on the Company Annual Fee provided that in the event of the Parties failing to reach agreement not later than 30 days before the beginning of each Contract Year each year the matter shall be determined by the disputes resolution process set out in clause 43 and until the matter has been resolved the Company Annual Fee for the previous year shall apply and shall be paid by the Company in accordance with this clause 8.2. 8.2.5 The Council shall submit VAT invoice(s) to the Company on the first Working Day of each calendar Month detailing the relevant assets and services to be provided by the Council during the following calendar Month and the amount payable. The sum shall be 1/12th of the Company Annual Fee and pro-rated for any Contract Year less than 12 (twelve) Months. 8.2.6 The Council shall submit a quarterly reconciliation invoice or credit note within ten (10) Working Days of the end of the respective quarter to reflect the actual cost of the relevant assets and services provided by the Council in the preceding quarter and a final annual reconciliation invoice or credit note by 15 April each year. 8.2.7 The Company shall pay the sums due to the Council in accordance with clauses 8.2.5 and 8.2.6 above in cleared funds within ten (10) Working Days of receipt of invoices submitted monthly in advance and in respect of the quarterly reconciliation invoice or credit note the Company shall pay sums due to the Council in cleared funds within ten (10) Working Days of invoices submitted quarterly in arrears or to make the necessary credit as appropriate. 8.2.8 The Council shall use its reasonable endeavours to ensure any unforeseen costs associated with delivery of the relevant assets and services to the Company are itemised and invoiced as part of the monthly invoice referred to in clause 8.2.5 or as part of the quarterly reconciliation invoice referred to in clause 8.

Payments by Company. 8.2.1 In consideration of the provision by the Council of the Council Assets, ICT System, Council Services and the Premises Licence, the Company shall pay the Company Annual Fee. 8.2.2 The Company Annual Fee shall be computed by the Council reflecting arm's length principles, and include an appropriate level of profit. 8.2.3 The Company Annual Fee for the first Contract Year of this Agreement shall be £611,289 212,345 (plus VAT) which is the pro-rated sum for the first Contract Year as set out in the Business Budget. 8.2.4 The Company Annual Fee for each subsequent year shall be reviewed and agreed between the Parties as part of the annual process to agree the Business Plan. The review will include (among other things) any requirement for a change to the Council Services, Council Assets, ICT System and/or Premises Licence which has an impact on the Company Annual Fee provided that in the event of the Parties failing to reach agreement not later than 30 days before the beginning of each Contract Year each year the matter shall be determined by the disputes resolution process set out in clause 43 and until the matter has been resolved the Company Annual Fee for the previous year shall apply and shall be paid by the Company in accordance with this clause 8.2. 8.2.5 The Council shall submit VAT invoice(s) to the Company on the first Working Day of each calendar Month detailing the relevant assets and services to be provided by the Council during the following calendar Month and the amount payable. The sum shall be 1/12th of the Company Annual Fee and pro-rated for any Contract Year less than 12 (twelve) Months. 8.2.6 The Council shall submit a quarterly reconciliation invoice or credit note within ten (10) Working Days of the end of the respective quarter to reflect the actual cost of the relevant assets and services provided by the Council in the preceding quarter and a final annual reconciliation invoice or credit note by 15 April each year. 8.2.7 The Company shall pay the sums due to the Council in accordance with clauses 8.2.5 and 8.2.6 above in cleared funds within ten (10) Working Days of receipt of invoices submitted monthly in advance and in respect of the quarterly reconciliation invoice or credit note the Company shall pay sums due to the Council in cleared funds within ten (10) Working Days of invoices submitted quarterly in arrears or to make the necessary credit as appropriate. 8.2.8 The Council shall use its reasonable endeavours to ensure any unforeseen costs associated with delivery of the relevant assets and services to the Company are itemised and invoiced as part of the monthly invoice referred to in clause 8.2.5 or as part of the quarterly reconciliation invoice referred to in clause 8.

Payments by Company. ‌ 8.2.1 In consideration of the provision by the Council of the Council Assets, ICT System, Council Services and the Premises Licence, the Company shall pay the Company Annual Fee.Fee.‌ 8.2.2 The Company Annual Fee shall be computed by the Council reflecting arm's length principles, and include an appropriate level of profit.profit.‌ 8.2.3 The Company Annual Fee for the first Contract Year of this Agreement shall be £611,289 (plus VAT) which is the pro-rated sum for the first Contract Year as set out in the Business Budget. 8.2.4 The Company Annual Fee for each subsequent year shall be reviewed and agreed between the Parties as part of the annual process to agree the Business Plan. The review will include (among other things) any requirement for a change to the Council Services, Council Assets, ICT System and/or Premises Licence which has an impact on the Company Annual Fee provided that in the event of the Parties failing to reach agreement not later than 30 days before the beginning of each Contract Year each year the matter shall be determined by the disputes resolution process set out in clause 43 and until the matter has been resolved the Company Annual Fee for the previous year shall apply and shall be paid by the Company in accordance with this clause 8.2.8.2.‌‌‌‌‌ 8.2.5 The Council shall submit VAT invoice(s) to the Company on the first Working Day of each calendar Month detailing the relevant assets and services to be provided by the Council during the following calendar Month and the amount payable. The sum shall be 1/12th of the Company Annual Fee and pro-rated for any Contract Year less than 12 (twelve) Months.Months.‌ 8.2.6 The Council shall submit a quarterly reconciliation invoice or credit note within ten (10) Working Days of the end of the respective quarter to reflect the actual cost of the relevant assets and services provided by the Council in the preceding quarter and a final annual reconciliation invoice or credit note by 15 April each year.year.‌ 8.2.7 The Company shall pay the sums due to the Council in accordance with clauses 8.2.5 and 8.2.6 above in cleared funds within ten (10) Working Days of receipt of invoices submitted monthly in advance and in respect of the quarterly reconciliation invoice or credit note the Company shall pay sums due to the Council in cleared funds within ten (10) Working Days of invoices submitted quarterly in arrears or to make the necessary credit as appropriate.appropriate.‌‌‌‌‌ 8.2.8 The Council shall use its reasonable endeavours to ensure any unforeseen costs associated with delivery of the relevant assets and services to the Company are itemised and invoiced as part of the monthly invoice referred to in clause 8.2.5 or as part of the quarterly reconciliation invoice referred to in clause 8.

Payments by Company. 8.2.1 In consideration of the provision by the Council of the Council Assets, ICT System, Council Services System and the Premises Licence, the Company shall pay the Company Annual Fee. 8.2.2 The Company Annual Fee shall be computed by the Council reflecting arm's length principles, and include an appropriate level of profit. 8.2.3 The Company Annual Fee for the first Contract Year of this Agreement shall be £611,289 31,175 (plus VAT) which is the pro-rated sum for the first Contract Year as set out in the Business Budget. 8.2.4 The Company Annual Fee for each subsequent year shall be reviewed and agreed between the Parties as part of the annual process to agree the Business Plan. The review will include (among other things) any requirement for a change to the Council Services, Council Assets, ICT System and/or Premises Licence which has an impact on the Company Annual Fee provided that in the event of the Parties failing to reach agreement not later than 30 days before the beginning of each Contract Year each year the matter shall be determined by the disputes resolution process set out in clause 43 41 and until the matter has been resolved the Company Annual Fee for the previous year shall apply and shall be paid by the Company in accordance with this clause 8.2. 8.2.5 The Council shall submit VAT invoice(s) to the Company on the first Working Day of each calendar Month detailing the relevant assets and services to be provided by the Council during the following calendar Month and the amount payable. The sum shall be 1/12th of the Company Annual Fee and pro-rated for any Contract Year less than 12 (twelve) Months. 8.2.6 The Council shall submit a quarterly reconciliation invoice or credit note within ten (10) Working Days of the end of the respective quarter to reflect the actual cost of the relevant assets and services provided by the Council in the preceding quarter and a final annual reconciliation invoice or credit note by 15 April each year. 8.2.7 The Company shall pay the sums due to the Council in accordance with clauses 8.2.5 and 8.2.6 above in cleared funds within ten (10) Working Days of receipt of invoices submitted monthly in advance and in respect of the quarterly reconciliation invoice or credit note the Company shall pay sums due to the Council in cleared funds within ten (10) Working Days of invoices submitted quarterly in arrears or to make the necessary credit as appropriate. 8.2.8 The Council shall use its reasonable endeavours to ensure any unforeseen costs associated with delivery of the relevant assets and services to the Company are itemised and invoiced as part of the monthly invoice referred to in clause 8.2.5 or as part of the quarterly reconciliation invoice referred to in clause 8.