Common use of Total Turnaround Payment Clause in Contracts

Total Turnaround Payment. The Total Turnaround Payment is an amount equal to the sum of the Agreed Rent (pro-rated on a daily basis for each day falling within the relevant Payment Period) for each relevant Property during the Property’s Turnaround Period, provided that the Provider must have: (a) provided at least five Business Days’ notice of the relevant Property’s actual or impending vacancy to MSD; and (b) completed the tenancy matching process set out in the Operational Manual and the MSD Housing Client System within the required timeframes.

Total Turnaround Payment. The Total Turnaround Payment is an amount equal to the sum of the Agreed Rent (pro-rated on a daily basis for each day falling within the relevant Payment Period) for each relevant Property during the Property’s Turnaround Period, provided that the Provider must have: (a) provided at least five Business Days’ notice of the relevant Property’s actual or impending vacancy to MSDHUD and MSD via the Housing Client System; and (b) completed the tenancy matching process set out in the Operational Manual Guidelines and the MSD Housing Client System within the required timeframes.