Common use of Remedies For Material and Non-Material Violations Of Agreement Flow Schedules Clause in Contracts

Remedies For Material and Non-Material Violations Of Agreement Flow Schedules. In the event of a Material or Non-Material Violation of Agreement Flow Schedules, YCWA will make a monetary payment to the River Management Fund, General Account (in addition to all payments required by section 5.3.2), in an amount agreed to by the Parties to this Agreement or determined using the process described in section 6.2.3. If YCWA does not make any payment into the River Management Fund that is required by this section 6.2.2 and the following section 6.2.3 within 30 days after the amount of such payment is agreed to or determined, then interest on that amount will begin to accrue at the rate of interest that YCWA receives on funds in the Local Agency Investment Fund plus the rate of 2 percent per annum (but no higher than any maximum interest rate that YCWA by law may pay) until the payment is made.

Remedies For Material and Non-Material Violations Of Agreement Flow Schedules. In the event of a Material or Non-Material Violation of Agreement Flow Schedules, YCWA will make a monetary payment to the River Management Fund, General Account (in addition to all payments required by section 5.3.2), in an amount agreed to by the Parties to this Agreement or determined using the process described in section 6.2.3. If YCWA does not make any payment into the River Management Fund Deleted: March 7, 2005 Deleted: September 26 Deleted: 16 that is required by this section 6.2.2 and the following section 6.2.3 within 30 days after the amount of such payment is agreed to or determined, then interest on that amount will begin to accrue at the rate of interest that YCWA receives on funds in the Local Agency Investment Fund plus the rate of 2 percent per annum (but no higher than any maximum interest rate that YCWA by law may pay) until the payment is made.