APPLICATION OF TOTAL CONTRACT Sample Clauses

APPLICATION OF TOTAL CONTRACT. PRICE REDUCTIONS As any liquidated damages accrue pursuant to Article 17, Buyer may invoice Seller for the amount of such liquidated damages and Seller shall pay to Buyer the amount invoiced within thirty (30) days of the date invoiced by Buyer, provided that Buyer, upon written notice to Seller of the amount of liquidated damages which have accrued, may withhold or cause to be withheld, such amount of liquidated damages from any payments remaining due to Seller under this Contract. If the aggregate Unit Performance Liquidated Damages paid by Seller exceeds the final liquidated damages determined as set forth in Section 17.2(f), Buyer shall pay to Seller such excess amount within thirty (30) days of the final determination. Any amount of liquidated damages which is not paid when due shall accrue interest at an annual rate of interest equal to the prime rate of The Chase Manhattan Bank, in effect on the due date plus one percent (1%). The term Total Contract Price, for the purposes of determining all limitations on liquidated damages or liability as provided in this Contract, shall mean the sum of [*] unless the Total Contract Price is modified pursuant to Section 3.5 or Article 9. The amount set forth in the preceding sentence shall not be changed by reason of any liquidated damages which may be withheld from payments due to Seller pursuant to this Article 17.
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Related to APPLICATION OF TOTAL CONTRACT

  • Application of Terms Grantee shall advise any sub-grantee of funds awarded through this Agreement of the requirements imposed on them by federal and state laws and regulations, and the provisions of this Agreement. The terms of this Agreement shall apply to all subawards authorized in accordance with Paragraph 17.1. 2 CFR 200.101(b)(2).

  • Construction of Terms If any provision of this Agreement is held unenforceable by a court of competent jurisdiction, that provision shall be severed and shall not affect the validity or enforceability of the remaining provisions.

  • Application of Agreement 4.1 This Agreement applies to: (a) ▇'▇▇▇▇▇▇▇▇ Ground Engineering Pty Ltd (the Employer) (b) the CFMEU (the Union) (c) all Employees of the Employer engaged in construction work and for whom classifications and rates of pay are provided by this Agreement (the Employee). Collectively known as Parties 4.2 This Agreement only applies to work done in Queensland or Northern Territory and to work temporarily done outside Queensland or Northern Territory by Employees who are based in Queensland or Northern Territory, except where employees are covered by a subsequent Greenfields agreement made under s.182(3) of the Fair Work Act 2009 (Cth) and approved by the Fair Work Commission.

  • Application of Commitment Reductions; Payment of Fees The Administrative Agent will promptly notify the Appropriate Lenders of any termination or reduction of unused portions of the Letter of Credit Sublimit or the Swing Line Sublimit or the unused Commitments of any Class under this Section 2.06. Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender’s Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in Section 3.07). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Application of the Agreement (1) This Agreement shall apply to investments made in the territory of either Contracting Party in accordance with its legislation by investors of the other Contracting Party prior as well as after the entry into force of this Agreement. (2) This Agreement shall not apply to claims which have been settled or procedures which have been initiated prior to its entry into force.