Computation and Payments Clause Samples

The Computation and Payments clause outlines how financial amounts owed under the agreement are calculated and the procedures for making payments. It typically specifies the methods or formulas used to determine payment amounts, the timing and frequency of payments, and any requirements for supporting documentation or invoicing. This clause ensures both parties understand their financial obligations and the process for fulfilling them, thereby reducing the risk of disputes over payment calculations or timing.
Computation and Payments. (a) Within 07 (seven) days after the end of each 15 (fifteen) days, in the case of Section 8.1 (a), BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and notify the Company thereby. (b) Within 30 (thirty) days after the completion of each Contract Year the BPDB shall compute penalty/compensation and deduct penalty from the Operation Security Deposit or pay compensation to the Company whatever applicable and notify the Company thereby.
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Computation and Payments. Within: (A) seven (07) days after the end of each fifteen (15) days, in the case of Article 8.1, BPDB shall compute the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and advise the Company by written notice (a “Liquidated Damages Notice”) of the amount of liquidated damages due to BPDB pursuant to this Contract for the preceding month. (B) thirty (30) Days after the end of the Commercial Operations Date, in the case of Article 8.2 BPDB shall compute and deduct from the Performance Security Deposit or from the Operations Security Deposit, the Liquidated Damage amount applicable for the shortfall in capacity pursuant to this Contract and notify the Company thereby.
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Computation and Payments. Within: (A) seven (07) days after the end of each fifteen (15) days, in the case of Article 8.1, BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and notify the Company thereby. (B) thirty (30) Days after the end of the Commercial Operation Date, in the case of Article 8.2 BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the shortfall in capacity pursuant to this Contract and notify the Company thereby. (C) thirty (30) Days of the end of each Contract Year, in the case of Article 8.3, subject to the Company’s review, BPDB shall compute and advise the Company by written notice (a “Liquidated Damages Notice”) of the amount of liquidated damages due to BPDB pursuant to this Contract for the preceding Contract Year. The Company shall pay to BPDB the amount of liquidated damages shown on the Liquidated Damages Notice, less any amounts disputed by the Company, within twenty five (25) Days of the date of the Liquidated Damages Notice (the “Liquidated Damages Due Date”), and interest shall accrue on any unpaid amount (except for any part of such amount which is disputed by the Company) from the Liquidated Damages Due Date at the rate per annum of the Bank Rate plus four (4) percent compounded semi annually and shall be computed for the actual number of Days on the basis of a three hundred and sixty five (365) Day Year. if the Company does not then pay to BPDB the unpaid undisputed amount plus accrued interest, BPDB may immediately deduct this sum from the Operations Security Deposit or from the monthly invoices. .
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Computation and Payments. Interest on unpaid amounts and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days elapsed.
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Computation and Payments. (a) Within seven (07) days after the end of each fifteen (15) days, in the case of Article 8.1 (a), BPDB shall compute and deduct from the Performance Security Deposit, the Liquidated Damage amount applicable for the preceding month pursuant to this Contract and notify the Company thereby. (b) Within thirty (30) days after the completion of each contract year the Entity shall compute penalty/compensation and deduct penalty from the Operation Security Deposit or pay compensation to the Company whatever applicable and notify the Company thereby. (c) The Company shall pay to BPDB the amount of liquidated damages shown on the Liquidated Damages Notice, less any amounts disputed by The Company, within twenty five (25) Days of the date of the Liquidated Damages Notice (the "Liquidated Damages Due Date"), and interest shall accrue on any unpaid amount (except for any part of such amount which is disputed by the Company) from the Liquidated Damages Due Date at the rate per annum of the Bank Rate plus four (4) percent compounded semiannually and shall be computed for the actual number of Days on the basis of a three hundred and sixty five (365) Day Year.
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Related to Computation and Payments

  • Computation and Payment Interest shall be computed on the basis of a 360-day year, actual days elapsed. Interest shall be payable at the times and place set forth in each promissory note or other instrument or document required hereby.

  • Calculation and Payment Interest on LIBOR Loans and all other Obligations and the amount of any fees set forth in Subsection 1.4 shall be calculated on the basis of a three hundred sixty (360) day year for the actual number of days elapsed. Interest on the Base Rate Loans shall be calculated on the basis of a three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on the Base Rate Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment of such Loan (or portion thereof); and (iii) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (i) the last day of each applicable Interest Period; (ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; (iii) the prepayment of such Loan (or portion thereof); and (iv) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise.

  • Computation and Payment of Fee The advisory fee shall accrue on each calendar day, and shall be payable monthly on the first business day of the next succeeding calendar month. The daily fee accruals shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the annual advisory fee rate, and multiplying this product by the Managed Assets of the Fund, determined in the manner established by the Directors, as of the close of business on the last preceding business day on which the Fund's net asset value was determined.

  • COMPENSATION AND PAYMENTS 1.1 The Owner shall pay the Contractor to furnish all labor, equipment, materials and incidentals necessary for the construction of the Work described in the Specifications and shown on the Drawings the Contract Amount as shown below. Base Bid $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 1.2 The Contractor’s requisition shall contain sufficient detail and supporting information for the Owner to evaluate and support the payment requested. 1.2.1 Payments are due and payable twenty-five working days from the date of receipt of a Contractor requisition which is approved by the Owner. 1.2.2 Provisions for late payments are governed by 5 M.R.S. Chapter 144, Payment of Invoices Received from Business Concerns, and interest shall be calculated at 1% per month.

  • Collection and Payment The Trustees shall have power to collect all property due to the Trust; to pay all claims, including taxes, against the Trust Property or the Trust, the Trustees or any officer, employee or agent of the Trust; to prosecute, defend, compromise or abandon any claims relating to the Trust Property or the Trust, or the Trustees or any officer, employee or agent of the Trust; to foreclose any security interest securing any obligations, by virtue of which any property is owed to the Trust; and to enter into releases, agreements and other instruments. Except to the extent required for a corporation formed under the Delaware General Corporation Law, the Shareholders shall have no power to vote as to whether or not a court action, legal proceeding or claim should or should not be brought or maintained derivatively or as a class action on behalf of the Trust or the Shareholders.