Time of payment and interest Sample Clauses

Time of payment and interest. 19.9.1 The Authority shall pay to the Contractor any amount due under any payment certificate issued by the Authority’s Engineer in accordance with the provisions of this Article 19, or in accordance with any other clause of this Agreement as follows: (a) payment shall be made no later than 30 (thirty) days from the date of submission of the Stage Payment Statement by the Contractor to the Authority’s Engineer for certification in accordance with the provisions of Clause 19.4 for an IPC; provided that, in the event the IPC is not issued by the Authority’s Engineer within the aforesaid period of 30 (thirty) days, the Authority shall pay the amount shown in the Contractor’s Stage Payment Statement and any discrepancy therein shall be added to, or deducted from, the next payment certificate issued to the Contractor; and (b) payment shall be made no later than 30 (thirty) days from the date of submission of the Final Payment Certificate for Works along with the discharge submitted to the Authority’s Engineer in accordance with the provisions of Clause 19.15 for certification. 19.9.2 In the event of the failure of the Authority to make payment to the Contractor within the time period stated in this Clause 19.9, the Authority shall be liable to pay to the Contractor interest at the Base Rate plus 2% (two percent), calculated at quarterly rests, on all sums remaining unpaid from the date on which the same should have been paid, calculated in accordance with the provisions of Clause 19.9.1(a) and (b) and till the date of actual payment.
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Time of payment and interest. 10.7.1 KDA shall pay to the Contractor any amount due under any payment certificate issued by the Project Engineer in accordance with the provisions of this Article 1 0, or in accordance with any other clause of this Agreement, as may be applicable, as follows: (i) no later than 42 (forty two) days from the date of submission of the Stage wise Statement by the Contractor to the Project Engineer for certification in accordance with the provisions of Clauses 1 0.4 or 10.6 for an “IPC. Provided that, in the event the IPC is not issued by the Project Engineer within the aforesaid period of 42 (forty two) days, KDA shall pay the amount shown in the Contractor’s Stage wise Statement and that any discrepancy shall be added to, or deducted from, the next payment certificate issued to the Contractor; and (ii) no later than 56 (fifty six) days from the date of submission of the Final Statement for Works along with the discharge submitted to the Project Engineer in accordance with the provisions of Clauses 10.10 and
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Time of payment and interest. The Authority shall pay to the Contractor any amount due under any payment certifi- cate issued by the Authority’s Engineer in accordance with the provisions of this Article 19, or in accordance with any other clause of this Agreement as follows:
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Time of payment and interest. Unless otherwise specified in this Agreement, any amount payable to a Party under this Agreement shall be due net thirty (30) days after the date the applicable Invoice is received.
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Related to Time of payment and interest

  • Time of Payments Any payment that is due on a day that is not a Business Day may be made on the next Business Day but will bear interest until received in full. All payments must be made in funds which are immediately available on the date on which payment is due.

  • Payment and Interest The amount determined payable pursuant to the decision, less any portion already paid, normally should be paid without awaiting Contractor action concerning appeal. Such payments shall be without prejudice to the rights of either party. Interest on amounts ultimately determined to be due to a Contractor shall be payable at the Statutory rate applicable to judgments against the State under Chapter 662, HRS from the date of receipt of a properly certified final written statement of actual adjustment required until the date of decision; except, however, that if an action is initiated in circuit court, interest under this Section 7.25, DISPUTES AND CLAIMS (§3-126-31 HAR) shall only be calculated until the time such action is initiated. Interest on amounts due the Department from the Contractor shall be payable at the same rate from the date of issuance of the Project Manager’s notice to the Contractor. Where such payments are required to be returned by a subsequent decision, interest on such payments shall be paid at the statutory rate from the date of payment.

  • Time of Payment During the performance of the services provided for in this Agreement, monthly payments shall be made based upon that portion of the services which has been completed. On or about the last day of each calendar month during the performance of the Basic Services to be provided under this Agreement, A/E shall submit to County working documents in any stage of completion to demonstrate incremental progress of Basic Services and the compensation which is due for percentage completion of Basic Services. On or about the last day of each calendar month during the performance of the Additional Services to be provided under Article 7, A/E shall submit to County working documents in any stage of completion to demonstrate incremental progress of Additional Services under an applicable Supplemental Agreement related thereto, and the compensation which is due for percentage completion of particular Additional Services. County shall review the documentation and shall pay each statement as set forth in this Article 8, however, the approval or payment of any statement shall not be considered evidence of performance by A/E to the point indicated by such statement or of receipt or acceptance by County of the services covered by such statement. Final payment does not relieve A/E of the responsibility of correcting any errors or omissions resulting from A/E’s negligence. Upon submittal of the initial invoice, A/E shall provide the County Auditor with an Internal Revenue Form W-9, Request for Taxpayer Identification Number and Certification that is complete in compliance with the Internal Revenue Code, its rules and regulations.

  • Date of Payment Should the principal of or interest on the Notes become due and payable on other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and in the case of principal, interest shall be payable thereon at the rate per annum specified in the Notes during such extension.

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