PAYMENTS UNDER VARIABLE PAYMENT PLANS Clause Samples
The "Payments Under Variable Payment Plans" clause defines how payments are to be made when the payment amounts or schedules can change based on certain factors. Typically, this clause outlines the criteria or formulas used to calculate payment amounts, such as usage levels, performance metrics, or fluctuating costs, and specifies the timing and method of payment adjustments. Its core practical function is to provide a clear framework for handling payments that are not fixed, ensuring both parties understand how and when payment amounts may vary, thereby reducing disputes and promoting transparency in financial arrangements.
PAYMENTS UNDER VARIABLE PAYMENT PLANS. FIRST PAYMENT. The first payment under a variable payment plan will be due as of the effective date of the payment plan. The amount of the first payment is the sum of payments from each Division, each determined by multiplying the benefits allocated to the Division under the variable payment plan by the applicable monthly variable payment rate per $1,000 of benefits.
PAYMENTS UNDER VARIABLE PAYMENT PLANS. The amount of the First Payment is the sum of payments from each Division, each determined by multiplying the benefits allocated to the Division under the variable payment plan by the applicable variable payment rate per $1,000 of benefits.
PAYMENTS UNDER VARIABLE PAYMENT PLANS