Common use of RATES OF PAYMENT Clause in Contracts

RATES OF PAYMENT. DT.1 Current Contract Rates. Included Timber that is Released for Cutting shall be paid for at Current Contract Rates determined under this Section. “Current Contract Rates” shall be (a) Flat Rates and (b) Tentative Rates ad- justed by the escalation procedures in DT.2. Flat Rates and Tentative Rates shall be those listed in AT.4, unless su- perseded by rates redetermined under DT.3 or established for Contract Term Extension. (a) On Payment Units for Specified Roads Released for Cutting on which clearing has begun and (b) For not more than two other Payment Units from which removal from Contract Area has begun. Notwithstanding the exceptions provided in this Section, rates redetermined under BT3.31, BT3.32, and BT3.33 shall apply to all Included Timber removed subsequent to the rate redetermination. In event there are more than two Payment Units from which timber removal has not been completed on the effec- tive date, the rates in effect at the time of Release for Cutting shall apply to the two units from which the greatest es- timated proportions of Payment Unit quantities have been removed. Otherwise, in released Payment Units, redeter- mined rates or rates established for Contract Term Extension shall apply to the entire quantity shown in AT.4.3 for those units. In addition, Required Deposits shall be made as listed in AT.4 and KT-FT.3.2, or established under DT.3 or IT.2.3.

RATES OF PAYMENT. DT.1 Current Contract Rates. Included Timber that is Released for Cutting shall be paid for at Current Contract Rates determined under this Section. “Current Contract Rates” shall be (a) Flat Rates and (b) Tentative Rates ad- justed adjust- ed by the escalation procedures in DT.2. Flat Rates and Tentative Rates shall be those listed in AT.4, unless su- perseded super- seded by rates redetermined under DT.3 or established for Contract Term Extension. (a) On Payment Units for Specified Roads Released for Cutting on which clearing has begun and (b) For not more than two other Payment Units from which removal from Contract Area has begun. Notwithstanding the exceptions provided in this Section, rates redetermined under BT3.31, BT3.32, and BT3.33 shall apply to all Included Timber removed subsequent to the rate redetermination. In event there are more than two Payment Units from which timber removal has not been completed on the effec- tive date, the rates in effect at the time of Release for Cutting shall apply to the two units from which the greatest es- timated proportions of Payment Unit quantities have been removed. Otherwise, in released Payment Units, redeter- mined rates or rates established for Contract Term Extension shall apply to the entire quantity shown in AT.4.3 for those units. In addition, Required Deposits shall be made as listed in AT.4 and KT-FT.3.2, or established under DT.3 or IT.2.3.