Times of Payment - Capital Components Sample Clauses

Times of Payment - Capital Components. The Agency shall pay to the State, on or before January 1 of each year, commencing with the year in which payment of the respective charge is to commence pursuant to this article, one- half (1/2) of the charge to the Agency for the year under the capital cost component of the Delta Water Charge and one-half (1/2) of the charge to the Agency for the year under the capital cost component of the Transportation Charge, as such charges are stated pursuant to subdivision (e) of this article; and shall pay the remaining one-half (1/2) of each of said charges on or before July 1 of that year.
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Times of Payment - Capital Components. The Agency shall pay to the State, on or before January 1 of each year, commencing with the year in which payment of the respective charge is to commence pursuant to this article, one-half (½) of the charge to the Agency for the year under the capital cost component of the Delta Water Charge and one-half (½) of the charge to the Agency for the year under the capital cost component of the Transportation Charge, as such charges are stated pursuant to subdivision
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Times of Payment - Capital Components. The Agency shall pay to the State, on or before January 1 of each year, commencing with the year in which payment of the respective charge is to commence pursuant to this article, one- half (1/2) of the charge to the Agency for the year under the capital cost component of the Delta Water Charge and one-half (1/2) of the charge to the Agency for the year under the capital cost component of the Transportation Charge, as such charges are stated pursuant to subdivision (e) of this article; and shall pay the remaining one-half (1/2) of each of said charges on or before July 1 of that year. Notwithstanding the preceding sentence, the Agency may defer all or any portion of any payments of the capital components of the Delta Water Charge and the Transportation Charge for a period not to exceed three months beyond said due dates; Provided that the Agency gives the State written notice of its election to defer all or a portion of such a payment at least twenty- one days prior to the date upon which such payment is otherwise due; and Provided Further, that if the requested deferrals from all contracts would impair the State’s cash flow needs for fiscal management of the Project, as determined by the State. The State shall proportion the amount available for deferrals among those contractors that can provide information substantiating a need for such assistance. The Agency shall pay to the State interest on any amounts deferred pursuant to the preceding paragraph from the due date for such payment until the date such deferred payment is made at a rate equivalent to the average rate earned by the State from its surplus money investment fund during that period of time.
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Related to Times of Payment - Capital Components

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