FUNDING AND METHOD OF PAYMENT Sample Clauses
The 'Funding and Method of Payment' clause defines how and when payments will be made under the agreement. It typically outlines the total amount of funding, the schedule or milestones for disbursement, and the acceptable methods of payment, such as bank transfer or check. This clause ensures both parties have a clear understanding of financial obligations and timelines, reducing the risk of disputes over payment terms and facilitating smooth financial transactions throughout the contract.
FUNDING AND METHOD OF PAYMENT. 3.1 The maximum amount payable by the CITY under this Agreement will be One Hundred Thousand Dollars and 00/100 ($100,000.00). It is expressly understood and agreed by the Parties that the funds contemplated by this Agreement originated from federal ARPA funds and funding is contingent upon approval and funding by the Boynton Beach City Commission. SUBRECIPIENT agrees to reimburse CITY, in full, all funds remitted to SUBRECIPIENT by CITY that do not comply with any and all requirements for use of ARPA funding.
3.2 The CITY will be invoiced by the SUBRECIPIENT for eligible expenses on a reimbursement basis, and will disburse payments once per quarter unless there is a mutual written agreement otherwise (see Attachment “A” Scope of Services). Bills shall be submitted by the SUBRECIPIENT at least two weeks in advance and will be paid provided appropriate documentation and status and beneficiary reports are attached to the invoice.
3.3 Payment by the CITY shall be contingent upon timely receipt of accurate and complete reports and records required by this Agreement.
FUNDING AND METHOD OF PAYMENT. 4.1 The maximum amount payable by the CITY under this Agreement shall be $40,000.00. This shall be the maximum expenditures authorized for payment by the City under this agreement. In no event shall the CITY be liable for any sum exceeding the above stated amount.
4.2 CITY agrees to fund SUBGRANTEE for the eligible PROJECT expenses incurred as provided for in Exhibit "B" attached hereto, and incorporated herein by reference, provided that a suspension of payment as provided for in Article XII has not occurred, and provided further that SUBGRANTEE complies with the procedures for invoices and payments as set forth in Article V.
FUNDING AND METHOD OF PAYMENT. The AASM Foundation will provide funds in the amount of $xxx,xxx.xx in totality to Awardee in two separate installments as follows:
1) First payment of $xxx,xxx.xx in the form of a cash advance upon receipt of a signed contract.
2) The final payment of $xx,xxx.xx will be remitted upon receipt and approval of the final report, which must include summary of the entire project (see Section 13, Reporting/Deliverables). Checks will be made to: [Sponsoring Organization] and mailed to: [Insert Address Line 1] [Insert Address Line 2] [Insert Address Line 3] This contract is contingent upon the availability of funding for the project and term outlined above. The Awardee will have no right of action against the AASM Foundation in the event that the AASM Foundation is unable to fulfill its obligations under this contract as a result of lack of sufficient funding. If funds become unavailable, provisions of termination will apply.
FUNDING AND METHOD OF PAYMENT. A. Partner agrees to enter into a separate agreement with VENDOR, a Commute Management Platform Vendor to implement the Platform described in Attachment A for a minimum of [36-months/12 months] in the amount of [funding] dollars ($X). MTC agrees to reimburse Partner a total amount up to [funding] dollars ($X) (“Maximum Platform Payment”) for the platform, and if applicable, MTC agrees to reimburse Partner a total amount up to [funding] dollars ($X) (“Maximum Incentives Payment”) for incentives. Partner agrees to provide matching funding of minimum of [funding] dollars ($X) (X% of setup fees and software subscription and licenses for [36/12] months for up to X users) and, [additional amount] for costs for additional users above 3,000 users in the agreement between Partner and the Vendor, consistent with Attachment B. Funding Breakdown. MTC funding and Partner funding covers the setup fee and [36/12] months of the software subscription and user licenses.
B. Partner may submit invoices to MTC after Partner pays invoices from the Vendor and MTC will reimburse for up to 75% of eligible costs. Payment shall be made by MTC within thirty (30) days of receipt of an acceptable invoice, approved by the MTC Project Manager or a designated representative, consistent with Attachment C, Sample Invoice, including all supporting details, proof of payment, and certification that the invoice is accurate and not the subject of a prior billing. All invoices shall be submitted electronically via email to MTC at ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or in writing to: Attn: Accounting Section Metropolitan Transportation Commission
C. Subject only to duly executed amendments, it is expressly understood and agreed that in no event will the total reimbursement to be paid by MTC under this Agreement exceed the Maximum Platform Payment and Maximum Incentive Payment as stated in Article 3.
FUNDING AND METHOD OF PAYMENT a) C/CAG agrees that the District shall receive Measure M revenue collected in the amount of $1,400,000 per fiscal year, for the Program, which C/CAG agrees to pay the District on a reimbursement basis.
b) C/CAG shall provide the District the actual allocation amount annually once all Measure M revenue is collected for the applicable fiscal year.
c) The District shall submit ▇▇▇▇▇▇▇▇ on a quarterly basis accompanied by the activity reports and paid invoices issued by the District's contractor or District's progress payments as proof that Program services were rendered and paid for by the District, delivered or mailed to C/CAG as follows: City/County Association of Governments ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇ ▇▇▇▇▇
d) Upon receipt of the invoice and its accompanying documentation, C/CAG shall pay the amount claimed under each invoice, up to the maximum amount available pursuant to this Agreement, within thirty (30) days of receipt of the invoice.
e) Subject to duly executed amendments, it is expressly understood and agreed that in no event will the total funding commitment under this agreement exceed 22% of the net Measure M revenue collected, estimated at approximately $1,400,000 per fiscal year, unless revised in writing and approved by C/CAG and the District.
FUNDING AND METHOD OF PAYMENT a. C/CAG agrees that the District will receive 18% of the net Measure M revenue collected between July 1, 2025 and June 30, 2026, which revenue C/CAG agrees to pay the District on a reimbursement basis for Program-related expenses.
b. From July 1, 2025 through June 30, 2026, if the 18% of net Measure M revenue exceeds $1,200,000, the District will use excess funding for the senior mobility programs as described in Exhibit B attached hereto and incorporated herein. Should the net Measure M revenue fall below $1,200,000 annually, C/CAG will only reimburse the District up to the actual amount of revenue received.
c. C/CAG shall provide excess funding, if any, as described in b), above, to the District after all Measure M revenue is collected for the applicable fiscal year. Notwithstanding the time of performance for this Agreement, set forth in Section 3, below, the District can rollover any unused excess funds to future fiscal years.
d. The District shall submit invoices at least semi-annually, accompanied by the activity reports and paid invoices issued by the District's contractor or District's progress payments, as proof that Program services were rendered and paid for by the District. Invoices can be delivered, mailed or emailed to C/CAG as follows: City/County Association of Governments ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ Redwood City, CA 94063 Attention: ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇
e. Upon receipt of an invoice and its accompanying documentation, C/CAG shall pay the amount claimed under each invoice, up to the maximum amount available pursuant to this Agreement, within thirty (30) days of receipt of the invoice.
f. Subject to duly executed amendments, it is expressly understood and agreed that in no event will the total funding commitment under this Agreement exceed 18% of the net Measure M revenue collected unless revised in writing and approved by C/CAG and the District.
FUNDING AND METHOD OF PAYMENT. For customers in San Mateo County, BAWSCA will provide a rebate of up to $150 per rain barrel (based on rain barrel capacity, and for up to the cap on the number of barrels allowed per customer type) and $300 per qualifying residential rain garden project (as detailed in Attachment 1), to be reimbursed by C/CAG’s San Mateo Countywide Water Pollution Prevention Program for a total amount not to exceed $75,000 minus administrative costs for the three-year Agreement term. BAWSCA member agencies electing to participate in the program (Participating Agencies) will provide an additional $50 per rain barrel for qualifying rain barrel rebates and if participating in the Lawn Be Gone! program and rain garden incentive, will provide the associated variable turf replacement rebate amount for qualifying lawn replacement projects on a dollar per square foot basis, according to their respective program agreements.
C/ CAG will reimburse BAWSCA for Program administration costs, including BAWSCA staff time, database management, and rebate processing, for an amount not to exceed $1,250 each Fiscal Year during the Agreement term. BAWSCA will invoice C/CAG on a monthly basis for Program expenditures. C/CAG will submit payment for such invoices within 30 days of receipt. BAWSCA shall update C/CAG on a monthly basis and provide documentation detailing Program expenditures, deposit account balance, and details on rebates issued, including numbers and locations of installed rain barrels. All updates/invoices shall be emailed to C/CAG as follows: Attention: ▇▇▇▇ ▇▇▇▇▇▇, Stormwater Program Director ▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇ Subject to duly executed amendments, it is expressly understood and agreed that in no event will C/CAG's total funding commitment under this Agreement exceed $75,000, unless revised in writing and approved by C/CAG and BAWSCA. Rebates will be provided on a first- come-first-served basis as program funding is available.
FUNDING AND METHOD OF PAYMENT a) Measure M allocations are issued twice per year and funds are disbursed on a cost reimbursement basis.
b) Allocation will be issued twice a year, once for 1st half of the fiscal year (July – December) and once for the 2nd half (January – June). Local Jurisdiction have the option to wait until the 2nd half funds become available to submit one reimbursement request for the entire fiscal year. Allocation will include any unused rollover from previous years.
c) C/CAG agrees that the Local Jurisdiction will receive their biannual funding allocation of the net Measure M revenue collected for the Program between July 1, 2021, and June 30, 2026. C/CAG agrees to pay the Local Jurisdiction its allocated share on a reimbursement basis.
d) The amount allocated for each jurisdiction is calculated based on a formula consisting of 50% population share and 50% road miles. A minimum amount of $75,000 is guaranteed per year for each jurisdiction.
e) The Local Jurisdiction will seek reimbursement only for the approved congestion management and stormwater pollution prevention programs listed in the Exhibit A, Section 3.3 of Measure M Implementation Plan (FY2021/22 – 2025/26).
f) The Local Jurisdiction has flexibility on the use of funds between the Traffic Congestion Management and Stormwater Pollution Prevention. There are no requirements to split the funds equally between the categories.
g) The Local Jurisdiction shall submit reimbursement request at a maximum twice a year, accompanied by invoices issued by the Local Jurisdiction's contractor or Local Jurisdiction's progress payments, as proof that program services were rendered and paid for by the Local Jurisdiction. Reimbursement requests can be delivered, mailed or emailed to C/CAG as follows: City/County Association of Governments ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇
h) Contingent upon Local Jurisdiction’s satisfactory completion of work products or milestones, as applicable, Local jurisdiction shall submit invoices to C/CAG for that portion of the funds available to Local Jurisdiction that have been expended. In addition, all supporting documentation (e.g. photos of completed capital projects) must accompany expenditures included on Local Jurisdiction’s invoices. Upon receipt of an invoice and its accompanying documentation, C/CAG shall pay the amount claimed under each invoice, up to the maximum amount allocated biannually, within thirty (30) days of receipt of ...
FUNDING AND METHOD OF PAYMENT. Section 4.1, is hereby deleted and replaced as follows:
FUNDING AND METHOD OF PAYMENT. The Parties will provide in-kind contributions and will be reimbursed for all non-in-kind contributions, as delineated in Attachment B, Project Budget. The District will serve as fiscal agent for the Project. The District shall establish a separate Fund to manage funds related to this Project and shall use monies deposited in this Fund for no other purpose than to pay eligible Project-related expenses. The District will provide payment to Parties for eligible Project-related staff hours, purchases, operation, and/or marketing costs. Parties shall submit quarterly invoices with all supporting documentation within thirty days of the end of the quarter. FTA funding will be dispersed on a reimbursement basis. Upon District approval of a submitted quarterly invoice, the District will seek FTA reimbursement for the Project cost and will disperse payment to the Parties upon receipt of funds from FTA. In the event that the Project costs exceed the budgeted amounts, as delineated in Attachment B, Project Budget, the Parties expressly agree that no Party has an obligation to provide funds in excess of the funds and/or in-kind contributions delineated in Attachment B, Project Budget, unless there is approval of additional funding and/or in-kind contributions for the Project and the Parties agree to execute a written amendment to this MOU to reflect any additional funding and/or contributions. In the event that Project cost is less than that budgeted, the in-kind contributions of each of the Parties will be reduced proportionately.