Performance Bond and Payment Method Sample Clauses

Performance Bond and Payment Method. 5.1 The exclusive agency fee from March 1, 2009 to the end of February, 2010 shall be RMB40,000,000, and Party B shall pay the agency fee of the following month on the 25th day of every month, namely, RMB3,333,300. The exclusive agency fee from March 1, 2010 to the end of February, 2011 shall be RMB43,000,000, and Party B shall pay the agency fee of the following month on the 25th day of every month, namely, RMB3,583,300. The exclusive agency fee from March 1, 2011 to the end of December, 2011 shall be RMB42,000,000, and Party B shall pay the agency fee of the following month on the 25th day of every month, namely, RMB4,200,000. The buyout agency fee for the three years shall be RMB125,000,000. 5.2 Party B shall, after executing the Contract, pay the deposit (10% of the committed advertising amount in the year) to Party A on the lump-sum basis within the term of the Contract. The detailed schedule and amount shall be as follows: Prior to February 25, 2009, paying RMB4,000,000 to Party A as the performance bond in 2009; Prior to February 25, 2010, paying RMB4,300,000 to Party A as the performance bond in 2010; Prior to February 25, 2011, paying RMB4,200,000 to Party A as the performance bond in 2011; Party B’s failure to pay the deposit on schedule shall constitute a breach of contract and entitle Party A to terminate the Contract immediately. The deposit may b used to offset the balance of the advertising fee in the year only when Party A accomplishes the committed advertising volume on schedule in the year; otherwise, Party A shall have the right to make deduction from the deposit.
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Performance Bond and Payment Method. Party B shall, within one (1) week after signing the Contract, pay Party A RMB500,000 (RMB five hundred thousand only) as the performance bond for advertisement broadcasting. The value of each order shall be settled according to this formula: discount as mentioned in Article 2 hereof × advertising quotation. Meanwhile, Party B is required to settle the ad-broadcasting fee as to each order within one (1) week after completion of the order, and settle the Contract Value incurred during the year prior to December 25, 2008. After the Contract is fully performed, the performance bond may be used to offset (without interest) relevant advertising cost with Party A’s confirmation at the end of 2008. Party A shall issue relevant advertisement invoices to Party B within one (1) week after receiving such amount. 4.1 Party A shall have the right to examine Party B’s qualifications prior to the execution of the Contract. Party B shall be obliged to provide relevant information to Party A truthfully in accordance with pertinent regulations and shall be responsible for the authenticity of such information. Party B shall also ensure that it has the ad-agency operation qualification during the performance of the Contract; otherwise, Party A shall have the right to terminate the Contract in advance. 4.2 During the performance of the Contract, the Parties shall negotiate about the length and period of the advertisement actually placed by means of a placement order. Party B’s orders shall, in principle, be the originals bearing the signatures of Party B’s salesmen and the seal of Party B’s company; Party B shall provide the list of its salesmen to Party A for confirmation and record filing. Where Party B places an order by fax, besides the said two factors of the original, the facsimile document shall indicate the electrograph number and the time of transmission. An order shall become valid after being confirmed by Party A’s salesman with signature and seal.
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Performance Bond and Payment Method. 4.1 The total amount of exclusive agency fee for the advertisements on Tianjin TV Station Sports Channel is RMB25,000,000 in the first contract year (from March 1, 2006 to February 28, 2007), RMB30,000,000 in the second contract year (from March 1, 2007 to February 29, 2008) and RMB35,000,000 in the third contract year (from March 1, 2008 to February 28, 2009). 4.2 Party B shall pay RMB2,500,000 to Party A as the performance bond (hereinafter referred to “Bond”) for the first contract year after execution of the Contract but prior to December 15, 2005, and pay RMB2,500,000 to Party A prior to December 31, 2005. Party B’s failure to pay the Bond on schedule shall constitute a breach of contract and entitle Party A to terminate the Contract immediately. 4.3 The Parties agree that payment shall be made according to the following schedule: 1) Party B agrees to pay to Party A the “total amount of exclusive agency fee for advertisements on Tianjin TV Station Sports Channel in the first year” as follows: Prior to December 15, 2005, Party B shall pay to Party A RMB2,500,000 as the Bond of the first year; Party A shall, on February 25, 2006, use RMB2,050,000 out of the second payment of RMB2,500,000 paid by Party B prior to December 31, 2005 to offset the advertisement broadcasting fee; Party A shall, on March 25, 2006, use RMB450,000 out of the second payment of RMB2,500,000 paid by Party B prior to December 31, 2005 to offset the advertisement broadcasting fee, and Party B shall pay to Party A RMB1,600,000 prior to March 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to April 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to May 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to June 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to July 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to August 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to September 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to October 25, 2006; Party B shall pay to Party A RMB2,050,000 prior to November 25, 2006; Party B shall pay to Party A RMB2,000,000 prior to December 25, 2006; After Party B pays to Party A RMB3,000,000 as the Bond of the second year (March 1, 2007 to February 29, 2008) on or prior to January 25, 2007, Party A may use RMB2,500,000 paid by Party B prior to December 15, 2005 to offset the advertisement broadcasting fee on January 25, 2007. 2) Party B agrees to pay to Party A the “total amount of...
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Related to Performance Bond and Payment Method

  • Performance Bond and Payment Bond The Contractor shall furnish both a performance bond and a payment bond in the exact form set forth in Section 7, (Forms) of these General Conditions.

  • Performance and Payment Bond Contractor shall post with County, not later than ten (10) days of the execution of this Agreement, a performance and payment bond in the amount of one hundred percent (100%) of the total lump sum price in such form as is satisfactory to County. The bond shall be executed by a corporate surety company duly authorized and admitted to do business in the State of Texas and licensed to issue such a bond in the State of Texas.

  • Performance and Payment Bonds The authority and responsibility for requesting performance and payment bonds shall rest with the Customer. Under this Contract, the Customer issuing the purchase order may request a performance and payment bond, as deemed necessary by the size of the job. Inability to provide a bond may result in the Contractor being found in default of the purchase order.

  • Payment Method Payment shall be made by the Contractor to the Subcontractor as follows: (choose one) ☐ - Immediately upon completion of the Services to the satisfaction of the Contractor. ☐ - Within ____ business days after completion of the Services to the satisfaction of the Contractor. ☐ - Shall be paid on a ☐ weekly ☐ monthly ☐ quarterly ☐ other ______________________ basis. If the Subcontractor completes the Services to the satisfaction of the Contractor, before the full amount or balance has been fully paid, any remaining amount shall be payable immediately. ☐ - Other: ________________________________________________________

  • Civil Penalty Payment Method Xxxxxx shall pay the civil penalty by check, credit card, wire transfer, or portal, payable to CARB, using instructions provided separately by CARB in a Payment Transmittal Form. Xxxxxx is responsible for all payment processing fees. Payments shall be accompanied by the Payment Transmittal Form to ensure proper application. CARB shall deposit the civil penalty amount into the Air Pollution Control Fund for the purpose of carrying out CARB’s duties and functions to ensure the integrity of its air pollution control programs. Should payment instructions change, CARB will provide notice to Xxxxxx in accordance with Paragraph 12 (Notices).

  • Payment Methodology The Contractor shall be compensated based on the Service Rates in Attachment for units of service authorized by the Institution in a total amount not to exceed the Contract Maximum Liability established in Section C. 1. The Contractor’s compensation shall be contingent upon the satisfactory completion of units of service or project milestones identified in Attachment B. The Contractor shall submit invoices, in form and substance acceptable to the Institution with all of the necessary supporting documentation, prior to any payment. Such invoices shall be submitted for completed units of service or project milestones for the amount stipulated.

  • Settlement Method Election Date The third Scheduled Trading Day immediately preceding the First Expiration Date.

  • Average Log Length and Payment Reduction If the average log length for all logs delivered under this contract is less than the average log length specified in the table in clause G-024.2, The amount of allowable payment reduction shall be calculated by multiplying the payment rate in P-028.2 by the total volume delivered, and the difference between the average length of logs delivered and the average log length specified in G-024.2, times 1% as follows: Log Length Payment Reduction = (B x V x L) x (.01) Where: B = Bid rate from P-028.2 clause V = total delivered log Volume L = Length in feet below specified average (rounded to nearest Average log length payment reductions calculated by the Purchaser must be approved by the State, prior to payment for the final billing period. Third-party scaling organization information is required to determine Xxxxxxxx mbf and Average log length for payment reduction purposes. Average log length is determined on a piece count basis. Value of log length price reduction will be derived from the applicable sort value as described in this contract. Scale information for determining Average log length for payment reduction eligibility must be obtained from roll-out scale. Truck-ramp, sample scaling, and/or bundle scaling information is not acceptable for determining eligibility. Purchaser’s exclusive remedy for below average log lengths shall be the payment reduction described in this clause, notwithstanding other provisions in the Uniform Commercial Code.

  • Performance Bond Unless otherwise prohibited by law, the Department may require the Contractor to furnish, without additional cost to the Department, a performance bond or irrevocable letter of credit or other form of security for the satisfactory performance of work hereunder. The Department shall determine the type and amount of security.

  • Performance Bonds Buyer shall have obtained, or caused to be obtained, in the name of Buyer, replacements for Seller’s and/or Seller’s Affiliates’ bonds, letters of credit and guarantees, and such other bonds, letters of credit and guarantees to the extent required by Section 7.05.

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