The Monetary Contribution Clause Samples
The Monetary Contribution clause defines the financial amount or payment that one party is required to provide under the agreement. Typically, it specifies the sum, payment schedule, and any conditions or milestones that trigger payment obligations. This clause ensures that both parties are clear on the financial commitments involved, reducing the risk of disputes over payment terms and helping to allocate financial responsibility within the contract.
The Monetary Contribution. (a) The Company must pay to the Council the Monetary Contribution in arrears within 14 days of 1 July of each year for each turbine which was an Intended Turbine or an Operating Turbine (as applicable) during the preceding Contribution Year.
(b) The parties agree that the Monetary Contribution will be reviewed on 1 July of each year in accordance with the following formula: MC = A x B Where: MC = the Monetary Contribution payable for the following Contribution Year; A = the Monetary Contribution payable during the Contribution Year just ended; B = the Index Number last published before the end of the Contribution Year just ended; and C = the Index Number last published before the commencement of the Contribution Year just ended.
(c) The monetary contribution is a taxable supply for GST in accordance with Clause 12.
The Monetary Contribution. (a) The Company must account to the Council for the Monetary Contribution by:
(1) paying Council’s part of the Monetary Contribution in advance to Council within 20 business days of the Company’s receipt of the Council Funding Notice in each Contribution Year following the Commissioning Milestone. Council’s part of the Monetary Contribution shall be:
The Monetary Contribution. (a) The Company must pay the Monetary Contribution to the Council during each Contribution Year until the last wind turbine is Decommissioned.
(b) The Monetary Contribution is payable in arrears within 14 days from the last day of the preceding Contribution Year (i.e. the annual payment must be made by 15 July).
The Monetary Contribution. (a) The Company must pay to the Council the Monetary Contribution for the current year of funding by the later of 21 July of each year or within 21 days of the Council providing a tax invoice to the Company for the Monetary Contribution..
(b) The parties agree that the Monetary Contribution will be reviewed on 1 July of each year, in accordance with the following formula: MC = A x B C Where: MC = the Monetary Contribution payable for the current year; A = the amount of $2,500 per turbine installed at the development which has not been through Decommissioning; B = the Index Number last published on 1 July of the current year; and C = the Index Number published for the September 2010 quarter.
(c) The monetary contribution is a taxable supply for GST in accordance with Clause 12.
The Monetary Contribution. (a) The Company must pay to the Council the Monetary Contribution for each wind turbine which was an Operating Turbine at any time during the Contribution Year.
(b) The Monetary Contribution is payable in arrears within 14 days f rom the last day of the preceding Contribution Year (i.e. the annual payment must be made by 15 July).
(c) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council.
(d) The Monetary Contribution will be taken to have been made when the Council receives the full, cleared amount of the contribution by bank cheque or by electronic funds transfer to the Council’s bank account.
(e) The amount of the Monetary Contribution will be reviewed and adjusted on each anniversary of the First Contribution Payment Date in accordance with the following formula: MC = A x B Where: MC = the Monetary Contribution payable for the next Contribution Year; A = the Monetary Contribution payable during the Contribution Year just ended; B = the CPI last published before the end of the Contribution Year just ended; and C = the CPI last published before the commencement of the Contribution Year just ended.
The Monetary Contribution. (a) The Company must pay to the Council the Monetary Contribution in arrears within 14 days of 1 July of each year for each Committed Turbine to be Constructed during the preceding Contribution Year.
(b) The Company must pay to the Council the Monetary Contribution in arrears within 14 days of 1 July of each year for each turbine which was an Operating Turbine during the preceding Contribution Year.
(c) The parties agree that the Monetary Contribution will be reviewed on 1 July of each year in accordance with the following formula: MC = A x B Where: MC = the Monetary Contribution payable for the following Contribution Year; A = the Monetary Contribution payable during the Contribution Year just ended; B = the Index Number last published before the end of the Contribution Year just ended; and C = the Index Number last published before the commencement of the Contribution Year just ended.
The Monetary Contribution. (a) The Company must pay to the Council the Monetary Contribution in arrears within 14 days of 1 July of each year for each turbine which was an Operating Turbine during the preceding Contribution Year. The monetary contribution for year one of operation shall be $100,000 [indexed annually in accordance with clause 5.1(b)] and for subsequent years of operation the annual contribution shall be $40,000 [indexed annually in accordance with clause 5.1(b)].
(b) The parties agree that the Monetary Contribution will be reviewed on 1 July of each year in accordance with the following formula: MC = A x B Where: MC = the Monetary Contribution payable for the following Contribution Year; A = the Monetary Contribution payable during the Contribution Year just ended; B = the Index Number last published before the end of the Contribution Year just ended; and C = the Index Number last published before the commencement of the Contribution Year just ended.
(c) The monetary contribution is a taxable supply for GST in accordance with Clause 12.