Timing of the Payments Sample Clauses

Timing of the Payments. The municipality shall provide the board of education the required annual payment amount by March 31 (or other agreed upon date) of the following calendar year. The payment will include an itemization of the municipal income tax collections attributed to "new employees" employed as a result of the Enterprise Zone Agreement. Should all income tax revenue collections not be collected by March 31 (or other agreed upon date), the municipality shall make a partial payment, as well as provide an estimate of the revenues to be collected and the date payment will be finalized. All previous year payments will be completed by June 30 (or other agreed upon date) or the municipality will make a "summary estimate" of the payment balance due and complete the payment on June 30 (or other agreed upon date). Should the "summary estimate" vary from the final payment due, the corrective adjustment will be made upon final verifications.
Sample 1
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Timing of the Payments. The City shall pay the Board the Required Annual Payment set forth in Section 2 herein by April 30 of the calendar year following the year for which the taxes are payable. If no payments are received by the Board by April 30, a late fee in the amount of 10% of the Required Annual Payment shall be added to the amount due. The payment will include an itemization of the municipal income tax collections attributed to “new employees” employed as a result of the CRA Agreement. Should all income tax revenue collections not be collected by March 31, the City shall make a partial payment based on the amount of income tax collected. When the remainder of income tax revenue collections are received, then the City will make the payment of the calculated balance due to the Board within thirty (30) days of the income tax being received. .
Sample 1
Timing of the Payments. Commencing in year 11 of the CRA Agreement, the Municipality shall make one (1) annual payment to the Board of Education of its share of the revenue calculated in Section 2 at the project site on or before March 31 of each calendar year until payment in full of the property taxes forgone and as calculated under Section 2 of this Agreement is completed. To establish a specific source of funding to secure full payment to the Board of Education of the total property taxes forgone as calculated pursuant to Section 2 of this Agreement, the Municipality shall establish within year 1 of this CRA Agreement a payroll tax revenue fund with Huntington Bank as a depository of all payroll tax revenues derived from the Xxxxxx Queen’s Community Reinvestment Area Project and initially deposited in the Municipality’s General Fund, and then transferred into the forgoing Municipality’s Huntington account. On or before March 31 of each calendar year, the Municipality shall provide the Board of Education with the last annual statement of the immediately prior year for this Huntington Bant account in order to fully appraise the Board of Education of all payroll tax revenues deposited therein for that relevant immediately preceding year.
Sample 1

Related to Timing of the Payments

  • Reimbursement Payments The Department shall, to the extent funds are available, reimburse the Grantee for eligible claims presented for payment if the Department determines the requirements for reimbursement have been met. Claims under this Contract can only be made for the period this Contract is in effect. Reimbursement programs include the following:

  • Payment of Service Fees Customer will pay the Service Fees for Services ordered by Customer, and all other amounts due under the Agreement, pursuant to the terms of this Section 5.

  • Repayment of Amounts Advanced for Network Upgrades Upon the Commercial Operation Date, the Interconnection Customer shall be entitled to a repayment, equal to the total amount paid to the Participating TO for the cost of Network Upgrades. Such amount shall include any tax gross-up or other tax-related payments associated with Network Upgrades not refunded to the Interconnection Customer pursuant to Article 5.17.8 or otherwise, and shall be paid to the Interconnection Customer by the Participating TO on a dollar-for-dollar basis either through (1) direct payments made on a levelized basis over the five-year period commencing on the Commercial Operation Date; or (2) any alternative payment schedule that is mutually agreeable to the Interconnection Customer and Participating TO, provided that such amount is paid within five (5) years from the Commercial Operation Date. Notwithstanding the foregoing, if this LGIA terminates within five (5) years from the Commercial Operation Date, the Participating TO’s obligation to pay refunds to the Interconnection Customer shall cease as of the date of termination. Any repayment shall include interest calculated in accordance with the methodology set forth in FERC’s regulations at 18 C.F.R. §35.19a(a)(2)(iii) from the date of any payment for Network Upgrades through the date on which the Interconnection Customer receives a repayment of such payment. Interest shall continue to accrue on the repayment obligation so long as this LGIA is in effect. The Interconnection Customer may assign such repayment rights to any person. If the Large Generating Facility fails to achieve commercial operation, but it or another Generating Facility is later constructed and makes use of the Network Upgrades, the Participating TO shall at that time reimburse Interconnection Customer for the amounts advanced for the Network Upgrades. Before any such reimbursement can occur, the Interconnection Customer, or the entity that ultimately constructs the Generating Facility, if different, is responsible for identifying the entity to which reimbursement must be made.

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Service Payments Subject to the direction and control of the Board of Trustees as set forth in the Plan, the Fund shall make Service Payments to Qualified Recipients pursuant to instructions by the Distributor, either directly to the Distributor or, as instructed, through the Distributor or shareholder servicing agent to other Qualified Recipients. The amounts, sources and purposes of the Service Payments shall be subject to the restrictions set forth in the Plan. To the extent that Service Payments are made directly to the Distributor, the Distributor acknowledges that such payments are intended as compensation for the Distributor’s services as contemplated by the Plan and undertakes to provide such services. Part III

  • Bonus Payments In addition to Base Salary, Executive shall be entitled, during the Employment Term, to participate in and receive payments from all bonus and other incentive compensation plans (as currently in effect, as modified from time to time, or as subsequently adopted) of the Company; provided, however, that nothing contained herein shall grant Executive the right to continue in any bonus or other incentive compensation plan following its discontinuance by the Board (except to the extent Executive had earned or otherwise accumulated vested rights therein prior to such discontinuance).

  • Payment of the balance Within sixty days of completion of the tasks referred to in each order or specific contract, the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents, which are provided for in the Special Conditions: ⮚ a final technical report in accordance with the instructions laid down in Annex I; ⮚ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • Payment of Fees All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing Lender, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Lenders entitled thereto. Fees paid shall not be refundable under any circumstances.

  • Base Payments The Settlement Fund Administrator will allocate base payments under Section IV.D among the Settling States in proportion to their respective Overall Allocation Percentages. Base payments for each Settling State will then be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Payment of the Purchase Price The Purchase Price shall be paid as follows:

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