Expenditure Based Milestone Payment Method Sample Clauses

The Expenditure Based Milestone Payment Method is a contractual provision that ties payments to the actual costs incurred by a contractor or service provider at specific project milestones. Under this method, payments are released when the party demonstrates that certain expenditures have been made, often requiring submission of invoices or receipts as proof. This approach ensures that funds are disbursed in alignment with real progress and spending, helping to manage cash flow and reduce the risk of overpayment before work is completed.
POPULAR SAMPLE Copied 1 times
Expenditure Based Milestone Payment Method. (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in each prototype project agreement and subject to Article 24, Allowable Costs. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable prototype project agreement, provided the designated AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (iii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a deliverable report, or a milestone report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached status, deliverable, or milestone report in accordance with each prototype project agreement): i. Is addressed to the CM and contains the CM’s address; Advanced Technology International‌ ii. contains the date of invoice and invoice number and the Base Agreement and prototype project agreement number; iii. identifies any associated technical milestones and the progress toward completion of each milestone;‌ iv. includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, fixed fee, if applicable, and extended totals; v. indicates the current period and cumulative manhours and costs incurred through the period indicated on the invoice; and vi. contains the following certification statement and signature: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature
Expenditure Based Milestone Payment Method. (with not to exceed ceiling): Payment shall be made based on actual expenditures in completing milestones up to the total maximum amount allowable under the applicable Project Award, provided the designated PAR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (iii) below, a progress report identifying associated progress toward completion of each technical milestone is required with the invoice. An acceptable invoice for expenditure-based payment is one that: i. is addressed to the CMF and contains the CMF’s address: Advanced Technology International ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ Summerville, SC 29486 ii. contains the date of invoice, invoice number, and the Base Agreement number and Project Award number (20XX-XXX #X); iii. identifies any associated technical milestones and the progress toward completion of each technical milestone; iv. includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, and extended totals; v. indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and vi. contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature
Expenditure Based Milestone Payment Method. (with not to exceed ceiling): Payment shall be made based on actual expenditures in completing milestones up to the total maximum amount allowable under the applicable Project Award, provided the designated PAR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (iii) below, a progress report identifying associated progress toward completion of each technical milestone is required with the invoice. An acceptable invoice for expenditure-based payment is one that: i. is addressed to the CMF and contains the CMF’s address: Advanced Technology International ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ Summerville, SC 29486 ii. contains the date of invoice, invoice number, and the Base Agreement number and Project Award number (20XX-XXX #X);
Expenditure Based Milestone Payment Method. (with not to exceed ceiling) for Consortium Members not subject to full Cost Accounting Standards on other agreements or contracts: Payment is contingent upon satisfactory progress toward completion of milestones as delineated in each prototype project agreement and subject to Article 24, Allowable Costs. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under the applicable prototype project agreement, provided the designated AOR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (iii) below, either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a deliverable report, or a milestone report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached status, deliverable, or milestone report in accordance with each prototype project agreement): i. Is addressed to the CM and contains the CM’s address; Advanced Technology International‌‌ Summerville, SC 29486‌ ii. contains the date of invoice and invoice number and the Base Agreement and prototype project agreement number;
Expenditure Based Milestone Payment Method. (with not to exceed ceiling): Payment shall be made based on actual expenditures in completing milestones up to the total maximum amount allowable under the applicable Project Award, provided the designated PAR has verified compliance with the Statement of Work and accomplishment of the stated effort. Per (iii) below, a progress report identifying associated progress toward completion of each technical milestone is required with the invoice. An acceptable invoice for expenditure-based payment is one that: i. is addressed to the CMF and contains the CMF’s address: Advanced Technology International ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ Summerville, SC 29486 ii. contains the date of invoice, invoice number, and the Base Agreement number and Project Award number (20XX-XXX #X); iii. identifies any associated technical milestones and the progress toward completion of each technical milestone; iv. includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, and extended totals; v. indicates the current period and cumulative man-hours and costs incurred through the period indicated on the invoice; and vi. contains the following certification statement: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.” Authorized Signature
Expenditure Based Milestone Payment Method. (with not to exceed ceiling): Payment is contingent upon satisfactory progress toward completion of milestones as delineated in each individual Task Order as Attachment 3. Payment shall be made based on actual costs incurred in completing milestones up to the maximum amount allowable under this Agreement, provided the designated PTR (if applicable) has verified compliance with the Statement of Work and accomplishment of the stated effort. The Recipient will normally fund any costs incurred above this maximum amount. Either a Status Report identifying any associated technical tasks and the progress toward completion of each milestone, a Deliverable Report, or a Milestone Report is required concurrent with the invoice. An acceptable invoice for reimbursable payment is one that (on the invoice or on the attached Status, Deliverable, or Milestone Report required by each individual Task Order Attachment 2): • contains the date of invoice and agreement number; • identifies any associated technical milestones and the progress toward completion of each milestone; • includes a discussion of the cost share expended towards the accomplishment of the tasks and/or milestone (this cost share discussion may be attached to the invoice if contractor practices make inclusion of such information on the invoice itself impractical); • includes a description of supplies and services, labor costs, subcontractor costs, material costs, travel costs, other direct costs, and extended totals; and • indicates the current period and cumulative manhours and costs incurred through the period indicated on the invoice. • each invoice should also include the following written certification: “I certify that the amounts invoiced are for costs incurred in accordance with the agreement, the work reflected has been performed, and prior payment has not been received.”

Related to Expenditure Based Milestone Payment Method

  • Development Milestone Payments TriSalus shall pay (or cause to be paid) to Dynavax, in accordance with and subject to the terms of this Section 2.3, Section 2.4 and Section 6.4 (each such milestone, a “Development Milestone”, and each payment in respect thereof, a “Development Milestone Payment”): (i) Upon the successful completion by a Milestone Obligor after the Closing of a [**] study with respect to a Product using PEDD, a payment of [**] US Dollars ($[**]), with such Development Milestone Payment being payable only once (for purposes of the foregoing, successful completion means completion of such study in accordance with the plan for such study); (ii) For the first patient Dosed by a Milestone Obligor in each Phase 1 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iii) For the first patient Dosed by a Milestone Obligor in each Phase 2 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iv) For each Phase 2 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 2 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 2 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (v) For each Phase 3 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 3 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 3 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (vi) Upon receipt by a Milestone Obligor of each Regulatory Approval for any Product for any Indication in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (vii) Upon receipt by a Milestone Obligor for each Regulatory Approval of any Product for any Indication in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (viii) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vi) for receipt of such Regulatory Approval), regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; and (ix) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vii) for receipt of such Regulatory Approval), regardless ​ of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval.

  • Sales Milestone Payments Artiva shall make the following one-time, non-refundable and non-creditable sales milestone payments to GCLC when the aggregate annual Net Sales of Products in the Territory first reach the thresholds specified below. Artiva shall notify GCLC promptly of the achievement of each such sales threshold. Each sales milestone payment shall be made by Artiva within [***] days after the end of the calendar quarter in which such sales threshold is achieved. To the extent more than one sales threshold is reached in any given calendar year, then the applicable milestone payment for each such achievement shall be due and owing with respect to such calendar year. For clarification, the total milestone payments payable hereunder if all milestone events are achieved is [***].

  • Milestone Event Milestone Payment [***] [***]

  • Milestone Payment The first time Net Sales in the Territory in a Royalty Period exceed [***] [***]

  • Sales Milestones On a Co-Co Product-by-Co-Co Product basis, Celgene shall make the following sales milestone payments to Jounce that are set forth below upon the first achievement by or on behalf of Celgene, its Affiliates or Sublicensees of the Sales Milestone Events set forth below with respect to sales of such Co-Co Product in the ROW Territory. [***] [***] [***] [***]