Interim and Final Clause Samples

The 'Interim and Final' clause defines the distinction and process for submitting and approving both interim (progress) and final deliverables, payments, or reports within a contract. Typically, this clause outlines the requirements for periodic submissions during the course of a project, such as progress invoices or partial work reports, as well as the procedures for the final submission upon completion. By establishing clear guidelines for both interim and final stages, the clause ensures that both parties understand their obligations throughout the contract, facilitating smooth project management and timely resolution of payments or deliverables.
Interim and Final. The Engineer shall have the power to omit from any of the contractor‟s requests for payment the value of any work executed or Materials supplied or services rendered, with which he may for the time being be dissatisfied and for that purpose and for any other reason which to him may seem proper, may delete, correct or modify the sum(s) previously certified by him as being due to the Contractor.
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Interim and Final. Orders The DIP Financing shall be subject to the entry of interim and final orders (the “Interim Order” and “Final Order,” respectively) of the Bankruptcy Court, acceptable to the DIP Lenders in their sole discretion, authorizing the Debtors to obtain postpetition indebtedness and approving the DIP Financing. Upon entry of the Interim Order and prior to entry of the Final Order, up to $1,000,000 (the “Interim Facility Amount”) of the DIP Loan Commitment would be available, to the extent permitted by the Bankruptcy Court pursuant to the Interim Order and the terms and conditions set forth in the DIP Financing Documents (the “Interim Facility”). The Interim Facility would have a final maturity of not more than 30 days from the date of the Interim Order (the “Interim Facility Maturity Date”). All loans made under the Interim Facility would be due and payable on the Interim Facility Maturity Date unless the DIP Lenders have agreed to an extension of the Interim Order or the Final Order shall have been entered by the Bankruptcy Court on or before such date. Upon the entry of the Final Order, the full amount of the DIP Loan Commitment would be available (subject to the limitations set forth in the Budget), to the extent provided in the Budget and permitted by the Bankruptcy Court pursuant to the Final Order and pursuant to the terms and conditions set forth in the DIP Financing Documents. DIP Budget and Use of Proceeds The Debtors shall be permitted to use proceeds of the DIP Facility solely in accordance with the terms of a weekly budget that is acceptable to the DIP Lenders, subject to a 10% variance (as amended, restated or modified from time to time, the “DIP Budget”). The initial DIP Budget is attached hereto. The DIP Loans would be available upon the Bankruptcy Court’s entry of the Interim Order and would be used (i) for working capital and other general corporate purposes of the Debtors, including the payment of professional fees and expenses and (ii) to pay claims in respect of certain prepetition creditors, which may include, without limitation, employees, taxing authorities, and critical vendors, in each case, to the extent provided in the DIP Budget and authorized by orders of the Bankruptcy Court. After entry of the Final Order, the DIP Loans would be used for the above purposes. Notwithstanding the foregoing, proceeds of the DIP Facility shall be used solely for the following purposes (to the extent identified in the DIP Budget): (a) to fund post-pe...
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Interim and Final. The New Technology Summary Report is a required deliverable in all research contracts. It is used to summarize any and all technologies (inventions and/or innovations) developed during the performance of the contract. If no new technologies were developed under the contract, the Awardee shall submit an NTSR which contains a certification stating no new technology was developed. NTSRs shall be submitted to e-NTR via the SBIR/STTR EHB at ▇▇▇▇://▇▇▇▇.▇▇▇▇.▇▇▇ [5] under the Handbooks section. NASA’s e-NTR system is an on-line system used to submit NTRs, Interim NTSRs and Final NTSRs. The system may be found at URL: ▇▇▇▇▇://▇▇▇▇▇▇▇▇▇.▇▇▇▇.▇▇▇ [4]. For SBIR/STTR awardees, the e-NTR system link may be found within the SBIR/STTR EHB. The one individual designated by the SBC to provide the scientific and technical direction to a project supported by the funding agreement. A U.S. research institution is one that is: (1) a contractor-operated Federally funded research and development center, as identified by the National Science Foundation in accordance with the Government-wide Federal Acquisition Regulation issued in Section 35(c)(1) of the Office of Federal Procurement Policy Act (or any successor legislation thereto), or (2) a nonprofit research institution as defined in Section 4(3) of the ▇▇▇▇▇▇▇▇▇-▇▇▇▇▇▇ Technology Innovation Act of 1980, or (3) a nonprofit college or university. Creative work that is undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture, and society, and the use of this stock of knowledge to devise new applications. It includes administrative expenses for R&D. It excludes physical assets for R&D, such as R&D equipment and facilities. It also excludes routine product testing, quality control, mapping, collection of general-purpose statistics, experimental production, routine monitoring and evaluation of an operational program, and training of scientific and technical personnel. Basic Research: systematic study directed toward ▇▇▇▇▇▇ knowledge or understanding of the fundamental aspects of phenomena and of observable facts without specific applications toward processes or products in mind. Basic research, however, may include activities with broad applications in mind. Applied Research: systematic study to gain knowledge or understanding necessary to determine the means by which a recognized and specific need may be met. Development: systematic application of knowledge or understanding,...
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Related to Interim and Final

  • Complete and Final Agreement This Guaranty and the other Loan Documents represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements. There are no unwritten oral agreements between the parties. All prior or contemporaneous agreements, understandings, representations, and statements, oral or written, are merged into this Guaranty and the other Loan Documents. Guarantor acknowledges that Guarantor has received a copy of the Note and all other Loan Documents. Neither this Guaranty nor any of its provisions may be waived, modified, amended, discharged, or terminated except by a writing signed by the party against which the enforcement of the waiver, modification, amendment, discharge, or termination is sought, and then only to the extent set forth in that writing.

  • FINAL COMPLETION AND FINAL PAYMENT 9.9.1 Upon receipt of written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Architect will promptly make such 9.9.2 Neither the final payment nor the remaining retained percentage shall become due until the Contractor submits to the Architect (1) an affidavit that all payrolls, bills for materials and equipment, and other indebtedness connected with the Work for which the State or its property might in any way be responsible, have been paid or otherwise satisfied; (2) consent of surety, if any, to final payment; (3) Other data establishing payment or satisfaction of all such obligations, including, but not limited to, receipts, releases, or other supporting documentation. and (4) final waivers of liens arising out of the Contract, to the extent and in such form as may be designated by the State. If any Subcontractor refuses to furnish a release or waiver required by the State, the Contractor may furnish a bond satisfactory to the State to indemnify him against any such lien. If any such lien remains unsatisfied after all payments are made, the Contractor shall refund to the State all moneys that the latter may be compelled to pay in discharging such lien, including all costs and reasonable attorneys' fees. 9.9.3 If, after Substantial Completion of the Work, final completion thereof is materially delayed through no fault of the Contractor or by the issuance of Change Orders affecting final completion, and the Architect so confirms, the State shall, upon application by the Contractor and certification by the Architect, and without terminating the Contract, make payment of the balance due for that portion of the Work fully completed and accepted. If the remaining balance for Work not fully completed or corrected is less than the retainage stipulated in the Contract Documents, and if bonds have been furnished as required by the Contract Documents, the written consent of the surety to the payment of the balance due for that portion of the Work fully completed and accepted shall be submitted by the Contractor to the Architect prior to certification of such payment. Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims. 9.9.4 The making of final payment shall constitute a waiver of all claims by the State except those arising from: (a) unsettled liens, (b) faulty or defective Work appearing after Substantial Completion, (c) failure of the Work to comply with the requirements of the Contract Documents, or (d) terms of any special warranties required by the Contract Documents. 9.9.5 The acceptance of final payment shall constitute a waiver of all claims by the Contractor except those previously made in writing and identified by the Contractor as unsettled at the time of the final Application for Payment.

  • Reconciliation and Final Payment Seller and Buyer shall reasonably cooperate after Closing to make a final determination of the allocations and prorations required under this Contract within one hundred eighty (180) days after the Closing Date. Upon the final reconciliation of the allocations and prorations under this Section, the party which owes the other party any sums hereunder shall pay such party such sums within ten (10) days after the reconciliation of such sums. The obligations to calculate such prorations, make such reconciliations and pay any such sums shall survive the Closing.

  • ACCEPTANCE AND FINAL PAYMENT Upon written notice to the Owner

  • Full and Final Settlement 21.1 This agreement is in full and final settlement of all Union or employee claims relating to employee rights and entitlements. Accordingly, the Union or employees shall not pursue any extra claims, nor take any industrial or protest action concerning any matter explicitly or implicitly dealt with in this agreement. 21.2 In any event: (a) Any work that commences or resumes on a day or shift following a stoppage of work not authorised by management, shall attract ordinary time rates of pay until the full duration of the normal ordinary time period has actually been worked, so that employees shall not be over compensated for work that would have been done in ordinary time but for the stoppage. (b) The Union or employees under this agreement shall not encourage or incite employees (or other persons) not covered by this agreement to take industrial or protest action of any kind.