Progress payment and Draw Schedule Sample Clauses

Progress payment and Draw Schedule. Purchaser shall make progress payment to the Seller and to follow the draw payment schedule as outlined in the attached exhibit. All payments are due and payable upon substantial completion. Purchasers shall pay the Contract Sum to Contractor in accordance with the Draw Schedule attached hereto. The progress payments shall be promptly made to Seller or Seller’s designated Contractor within five (5) days of invoicing via electronic mail provider by Purchasers hereto. Purchaser shall be responsible for any lender designated fees. A late fee of 1-1/2% per month shall be assessed to the Purchasers for invoices that are more than 5 days outstanding. DRAW SCHEDULE: See Exhibit
Sample 1
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Related to Progress payment and Draw Schedule

  • Progress Payments; Retainage A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment on or about the first day of each month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract.

  • PROGRESS PAYMENT 5.4.1 After receipt by the Contract Administrator of a Proper Invoice submitted by the Contractor in accordance with 5.3 – PROPER INVOICES:

  • Progress Payments 5.1.1 Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect, the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents.

  • Fourth Schedule All petroleum as defined in the Xxxxxxxxx Xxx 0000 on or below the surface of the land the subject of this lease is reserved to the Crown in right of the State of Western Australia with the right of the Crown in right of the State of Western Australia and any person lawfully claiming thereunder or otherwise authorised to do so to have access to the land the subject of this lease for the purpose of searching for and for the operations of obtaining petroleum (as so defined) in any part of the land. FIFTH SCHEDULE (Date of commencement of the lease). SIXTH SCHEDULE (Any further conditions or stipulations).

  • C2 Payment and VAT C2.1 The Authority shall pay all sums due to the Contractor within thirty (30) days of receipt of a valid invoice, submitted Monthly in arrears.

  • Payment and Contract Price C1 Contract Price

  • Periodic Progress Payments The Owner shall make progress payments, less retainage, as set forth in Section 4 of the General Conditions.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

  • Payment of Project Costs The Grantee agrees that it will provide for payment of its full share of Project costs and that all costs connected with the Project will be paid by the Grantee on a timely basis.

  • Payment and VAT C2.1 The Contractor shall submit a Valid Invoice to the Authority at the periods specified by the Authority in the Pricing Schedule. A Valid Invoice must contain the reference number of the relevant Purchase Order.

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