Unincorporated Materials; Payment for Stainless Steel Materials on Hand Sample Clauses

Unincorporated Materials; Payment for Stainless Steel Materials on Hand. Except as hereinafter provided with respect to Stainless Steel Materials on Hand, TxDOT will not pay for materials not yet incorporated in the Work. With respect only to the Initial Order, Fabricator may, at its option, invoice TxDOT for Stainless Steel Materials on Hand. If Fabricator elects to invoice TxDOT for Stainless Steel Materials on Hand, Fabricator shall furnish TxDOT with a paid invoice for Stainless Steel Materials on Hand within 60 days of Fabricator’s payment of the same. The paid invoice shall contain a signed statement by Fabricator indicating that Fabricator has paid the invoice, that the Stainless Steel Materials on Hand have been segregated from Fabricator’s own materials, are clearly marked as the property of TxDOT, are stored in a safe location approved by TxDOT, and that Fabricator has not previously received payment from TxDOT for the same Stainless Steel Materials on Hand. Invoices for Stainless Steel Materials on Hand shall be a pass-through without xxxx-up and may not be submitted more frequently than monthly in accordance with Section 10.3.1. TxDOT shall pay invoices for Stainless Steel Materials on Hand in accordance with Section 10.3.3, less 5% retainage which shall be released with the Final Payment of the entire Initial Order in accordance with Section 10.5. In calculating payments to be made pursuant to Sections 10.2.2 and 10.3.3, above, the Initial Per Mainline Unit Price and the Initial Per Ramp Unit Price shall be adjusted by subtracting therefrom an amount equal to the total payment made by TxDOT for Stainless Steel Materials on Hand divided by the total number of toll booths in the Initial Order. In the event that there are excess Stainless Steel Materials on Hand upon Final Acceptance of the Initial Order, TxDOT may, in its discretion, direct Fabricator to keep such excess Stainless Steel Materials on Hand for use in connection with future Option Orders, in which case the amount paid by TxDOT attributable to such excess Stainless Steel Materials on Hand shall be credited against the purchase price for the relevant Option Order, or deliver the excess Stainless Steel Materials on Hand to a location specified by TxDOT, at TxDOT’s cost and expense.
Sample 1
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Related to Unincorporated Materials; Payment for Stainless Steel Materials on Hand

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