Payment and Milestone Schedule definition
Examples of Payment and Milestone Schedule in a sentence
For the Down Payment and each Milestone Payment, SpaceX shall submit to Customer an invoice for payment after completion of a Milestone consistent with the SOW, on or after the corresponding Milestone Payment due date listed in the Payment and Milestone Schedule, including SpaceX’s certification that the applicable Milestone completion criteria have been met in accordance with the Milestone completion criteria in the SOW.
The Contract Price shall be paid by Customer to SpaceX in accordance with the payment plan set forth in the Payment and Milestone Schedule, including the Down Payment and Milestone Payments, the former to be invoiced pursuant to Section 5.1.1 and the latter to be invoiced pursuant to Section 5.2 below.
Contractor shall promptly review the Scope Change Order Request and notify Owner in writing of the options for implementing the proposed Scope Change (including, if possible, any option that does not involve an extension of time) and the effect, if any, each such option would have on the Contract Price, the Guaranteed Completion Dates, the Construction Progress Milestone Dates, the Payment and Milestone Schedule, the Project Schedule and the Performance Guarantees.
The Down Payment specified in the Payment and Milestone Schedule provided in Appendix 3 shall be due upon receipt of the corresponding invoice from SpaceX following execution of this Agreement and will be paid in accordance with Section 5.2 herein.
Notwithstanding anything in this Article 12 to the contrary, no Scope Change Order shall be issued and no adjustment of the Contract Price, the Guaranteed Completion Dates, the Construction Progress Milestone Dates, the Payment and Milestone Schedule, the Project Schedule or the Performance Guarantees shall be made in connection with any correction of errors, omissions, deficiencies, or improper or defective 110 work on the part of Contractor or any Subcontractors in the performance of the Services.
Contractor acknowledges and agrees that any difficulty or extra cost it may encounter in performing the Services in compliance with such documentation will not entitle Contractor to any increase or adjustment in the Contract Price, the Guaranteed Completion Dates, the Construction Progress Milestone Dates, the Payment and Milestone Schedule, the Project Schedule, the Performance Guarantees or any other provision which may be affected thereby.
In the event Owner makes any such election(s), (i) the Contract Price shall be adjusted in accordance with the respective provisions of Section B of Appendix O hereto that are expressly set forth therein as being applicable to such scope option(s), and (ii) corresponding adjustments to the Payment and Milestone Schedule shall be made as reasonably agreed upon by Owner and Contractor.
Any partial payments made by Owner pursuant to clause (ii) above shall be credited against the first Scheduled Payments remaining under the Payment and Milestone Schedule.
In case of such partial termination, the exercise of such partial termination right by Owner shall be conditioned upon the Parties' mutual and reasonable agreement on the Scope Change Order, if any, necessary to make equitable adjustments to one or more of the Guaranteed Completion Dates, the Contract Price, the Payment and Milestone Schedule, the Project Schedule, the Performance Guarantees and such other provisions of this Agreement which may be affected thereby, as appropriate.
Owner, without invalidating this Agreement, may order Scope Changes to the Services, in which event one or more of the Contract Price, the Construction Progress Milestone Dates, the Guaranteed Completion Dates, the Payment and Milestone Schedule, the Project Schedule and the Performance Guarantees shall be adjusted accordingly, if necessary.