Issuance of MRO and Payment Limitation Clause Samples

The 'Issuance of MRO and Payment Limitation' clause defines the process by which a Maintenance Release Order (MRO) is issued and sets boundaries on the payments related to it. Typically, this clause outlines the conditions under which an MRO is generated, such as upon completion of specific maintenance tasks, and specifies the maximum amount payable for those services. By establishing clear procedures and payment caps, the clause helps prevent disputes over billing and ensures that both parties understand the financial limits and obligations associated with maintenance work.
Issuance of MRO and Payment Limitation. Provided that Developer is not in Default under this Agreement beyond the applicable cure period (if any), the City will deliver the MRO to Developer within ninety (90) calendar days after the City’s receipt of the Commencement Notice. Notwithstanding the previous sentence, in the event that Developer is in Default prior to the City’s issuance of the MRO, the City shall not be required to deliver the MRO to Developer until a reasonable time after, but in no event less than thirty (30) calendar days after, all such Defaults are cured, provided each Default is cured within the applicable cure period for such Default. If the City does not timely provide the MRO to Developer, the Developer shall make a written request to the City to deliver the executed MRO within thirty (30) calendar days after the date of such written request by the Developer. The total amount of principal to be paid under the MRO shall in no event exceed the lesser of: (a) the sum of all payments made by the City on the MRO during the life of the District but in no event after the Final Payment Date, and (b) One Million Dollars ($1,000,000.00). The City’s obligation to make payments on the MRO is conditioned on the requirement that Developer is not in Default under this Agreement. For the avoidance of any doubt, upon the occurrence of a Default, the City may suspend all payments until the Default is cured and, upon the expiration of all applicable cure periods for such Default, the City may exercise any and all available remedies.
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Related to Issuance of MRO and Payment Limitation

  • Funding and Payment A. Tuition and fee payments in the amounts set forth in Section 6 are due from students at registration. A payment plan is available upon request. Payment is required by the stated due date; all tuition and fees must be collected and remitted to the College prior to the beginning of classes. Failure to pay by the due date will result in the student being dropped from classes. B. Financial Aid is not available to dual credit students. The Higher Education Technical Amendments of 1987 (P.L. 100-50) states, “A student who is enrolled in an elementary or secondary school is not eligible for Title IV assistance for any courses taken at the post- secondary level for the same period” [Compilation of Federal Regulations (CFR) 668.7(a)(2)]. C. The state funding for dual credit courses will be available to both the District and the College based on the current funding rules of TEA and the THECB. The College may only claim funding for students receiving college credit in core curriculum, career and technical education, foreign language dual credit courses, and classes in a Field of Study or Program of Study. D. If a student requests to take a class more than twice, he or she will be responsible for the tuition for that course and $ 50.00 per semester hour for the course. Technical courses are exempt from this fee. (see ▇▇▇▇▇ College Catalog – College Expenses) E. The College is not responsible for the transportation of dual credit students.

  • Consideration and Payment The purchase price for the sale of the Purchased Assets sold to the Purchaser on the Closing Date shall equal the estimated fair market value of the Purchased Assets. Such purchase price shall be paid in cash to Santander Consumer in an amount agreed to between Santander Consumer and the Purchaser, and, to the extent not paid in cash by the Purchaser, shall be paid by a capital contribution by Santander Consumer of an undivided interest in such Purchased Assets that increases its equity interest in the Purchaser in an amount equal to the excess of the estimated fair market value of the Purchased Assets over the amount of cash paid by the Purchaser to Santander Consumer.