Amount and Conditions for Progress Payments Clause Samples

Amount and Conditions for Progress Payments. 6.2.1 Landlord shall make the Progress Payments to Tenant on a monthly basis, beginning on the Effective Date, in the amounts set forth for each respective month on line G45 of the Pro Forma. Provided that Tenant submits written invoices to Landlord at least thirty (30) days in advance for each monthly Progress Payment, Progress Payments shall be paid by Landlord to Tenant accordingly. Progress Payments shall be paid by Landlord to Tenant at least ten (10) Business Days prior to the first day of the respective month to which such payment relates, provided that Tenant submits written invoices timely in accordance with this Section 6.2. The parties understand that Progress Payments are expressly conditioned on Tenant meeting the milestones set forth in Exhibits C, D, and E (individually, a “Milestone” and collectively, the “Milestones”). Should Tenant fail to satisfy any Milestone, Landlord shall be permitted, in its discretion, to withhold the Progress Payment for such month, along with Progress Payments for subsequent months, until such time as Tenant has completed the task/objective covered by such Milestone. Notwithstanding the foregoing, if ▇▇▇▇▇▇ subsequently completes the task/objective covered by a Milestone that was previously unsatisfied, Landlord shall not be permitted to withhold further Progress Payments. 6.2.2 Landlord shall have no obligation to make Progress Payments: (a) beyond the Initial Term; or (b) in an amount greater than the aggregate amount of the Progress Payments set forth on the Pro Forma. Upon expiration of the Term, and within ten (10) calendar days following ▇▇▇▇▇▇’s delivery of the final annual financial report at the end of the Term contemplated under Section 5.7 of this Agreement, Landlord and Tenant shall conduct a reconciliation (the “Reconciliation”) with respect to the Progress Payments paid to Tenant by Landlord and the actual Facility Operating Expenses paid by Tenant in operating the Facility. If the Reconciliation indicates that the Progress Payments utilized by Tenant are less than the amounts estimated in the Pro Forma attached as Exhibit B, then such difference shall be referred to as the “Shared Savings”, and such Shared Savings shall be treated as follows: (a) Tenant shall be eligible to retain up to 50% of the Shared Savings (the “Quality Incentive Payment”), subject to Tenant’s satisfaction of the following standards: (i) Provided that Tenant improves the overall star rating of the Facility by showing that the...
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Amount and Conditions for Progress Payments. 23 6.3 Start-Up Capital 24 6.4 Changes in Law 25 6.5 Service Covenant 25 ARTICLE 7REPRESENTATIONS AND WARRANTIES 28 7.1 Landlord’s Representations and Warranties 28 7.2 Tenant’s Representations and Warranties 30 ARTICLE 8MISCELLANEOUS 31 8.1 Quiet Enjoyment 31 8.2 Notices 31 8.3 Memorandum of Lease 32 8.4 Estoppel 32 8.5 Fair Market Value 32 8.6 No Requirement to Refer 32 8.7 Change in Legal Requirements 32 8.8 Interpretation 33 8.9 Headings 33 8.10 Entire Agreement 33 8.11 Assignment 33 8.12 Force Majeure 33 8.13 Severability 33 8.14 Counterparts 33 8.15 Dates 33
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Related to Amount and Conditions for Progress Payments

  • Scope of Services The specific scope of work for each job shall be determined in advance and in writing between TIPS Member, Member’s design professionals and Vendor. It is permitted for the TIPS Member to provide a general scope description, but the awarded vendor should provide a written scope of work, and if applicable, according to the TIPS Member’s design Professional as part of the proposal. Once the scope of the job is agreed to, the TIPS Member will issue a PO and/or an Agreement or Contract with the Job Order Contract Proposal referenced or as an attachment along with bond and any other special provisions agreed by the TIPS Member. If special terms and conditions other than those covered within this solicitation and awarded Agreements are required, they will be attached to the PO and/or an Agreement or Contract and shall take precedence over those in this base TIPS Vendor Agreement.

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  • Name and address of the contractor ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ LLP London Country United Kingdom NUTS code UKI - London Companies House OC310282 The contractor is an SME No

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