Procedure on Payments Sample Clauses

Procedure on Payments. Downstream Parties shall make payments for each Operating Year under this section 13 except payments under paragraph 13(c)(5) above in twelve equal monthly payments due and payable on or before the fifteenth day of each month beginning September 1 of the first Operating Year and continuing each month through August 15, 2025. A downstream Project owner shall pay to the Administrator payments owed to the United States under this section 13. The Administrator shall hold such payments in suspense for the credit of such owner pending annual determination by the Federal Energy Regulatory Commission (“FERC”) of the amount due to the United States from such owner to satisfy the requirements of Section 10(f) of the Federal Power Act as applied to Projects owned by the United States within this Agreement. Within thirty days after such determination by FERC, or prior to delinquency, whichever is sooner, the Administrator shall transfer to FERC from such funds to the extent available the amounts FERC determined necessary to satisfy the requirements of Section 10(f) as between such owner and such Projects of the United States of America. At the request of any Party, payments shall be appropriately adjusted to reflect any delay or advance from the schedule assumed for a new Firm Resource coming into service.