Common use of Payment and Payment Terms Clause in Contracts

Payment and Payment Terms. Price shall be paid in 12 equal monthly installments of $3,167.00. Invoices will be submitted monthly. If any changes in or to applicable laws, codes, statutes and/or ordinances, or in the interpretation of such applicable laws, codes, statutes and/or ordinances, are made subsequent to the date of the contract, whereby the cost of the Work is increased and/or the time required for completion of the Work is increased, Owner may authorize, and pay for, as a Change Order under this Agreement, any such alterations, additions, services, outfit and/or equipment, and may grant Contractor any extension to the schedule of the Work as may be required to comply with any such change. If Contractor wishes to make a claim for an increase in the Agreement Price or an extension in the schedule of the Work, it shall give OWner written notice thereof within a reasonable time after the occurrence of the event giving rise to such claim. This notice shall be given by Contractor before proceeding to execute the remaining Work, except in an emergency which endangers life or property, in which case Contractor shall have the authority to act, in its sole discretion, to prevent threatened damage, injury or loss. Claims arising from delay shall be made within reasonable time after the delay. Increases based upon design and estimating costs with respect to changes requested by Owner shall be made within a reasonable time after the decision is made not to proceed with the change. No such claim shall be valid unless so made. Any change in the Agreement Price or to the schedule of the Work resulting from such claim shall be authorized by a Change Order, which will be binding upon Bay St. Louis only after Council approval.

Payment and Payment Terms. Price shall be paid in 12 twelve equal monthly installments of $3,167.004,167.00. Invoices will be submitted monthly. If any changes in or to applicable laws, codes, statutes and/or ordinances, or in the interpretation of such applicable laws, codes, statutes and/or ordinances, are made subsequent to the date of the contract, whereby the cost of the Work is increased and/or the time required for completion of the Work is increased, Owner may authorize, and pay for, as a Change Order under this Agreement, any such alterations, additions, services, outfit and/or equipment, and may grant Contractor any extension to the schedule of the Work as may be required to comply with any such change. If Contractor wishes to make a claim for an increase in the Agreement Price or an extension in the schedule of the Work, it shall give OWner Owner written notice thereof within a reasonable time after the occurrence of the event giving rise to such claim. This notice shall be given by Contractor before proceeding to execute the remaining Work, except in an emergency which endangers life or property, in which case Contractor shall have the authority to act, in its sole discretion, to prevent threatened damage, injury or loss. Claims arising from delay shall be made within a reasonable time after the delay. Increases based upon design and estimating costs with respect to changes requested by Owner shall be made within a reasonable time after the decision is made not to proceed with the change. No such claim shall be valid unless so made. Any change in the Agreement Price or to the schedule of the Work resulting from such claim shall be authorized by a Change Order, which will be binding upon Bay St. Louis only after Council approval. · Payment – Contractor will invoice Owner monthly, with the ▇▇▇▇ due by 12:00 p.m. on the last Wednesday of each month. Should Contractor timely submit that invoice, Owner shall pay non-withheld amounts within forty-five (45) days of the Wednesday invoice deadline. Owner shall have the right to withhold payment for invoiced amounts that Owner in good faith disputes. Owner and Contractor shall in good faith attempt to negotiate any disputes. The Owner shall notify Contractor, in writing, of any withholding of payment at least five (5) days prior to the date said payment is due. The notice shall indicate the specific amount(s) the Owner intends to withhold, the reasons and contractual basis for the withholding(s), and the specific measure(s) Owner requests that Contractor take to address the Owner’s concerns. In addition to any other rights and remedies as set forth in this Agreement or at law or in equity, in the event the initial payment due from Owner is not tendered to Contractor in immediately available funds by the close of business on the forty-fifth day after the invoice is due, Contractor shall have the right to cancel this Agreement, in which event Contractor shall have no further obligation to Owner hereunder. In the event Contractor elects not to cancel this Agreement, then the schedule, as set out in the Scope of Work, shall be extended one (1) day for each day, our portion thereof, that any portion of the initial payment has not been received by Contractor. If any invoice for payment shall not be paid when due, in addition to any other rights or remedies provided in this Agreement, Contractor may, in its discretion, suspend or reschedule progress of the Work (such right being in addition to any other right at law or in equity). In this event, the schedule, is as set out in the Scope of Work, shall be extended one (1) day for each day, or portion thereof, which any portion of a progress payment has not been timely received by Contractor.

Payment and Payment Terms. Price shall be paid in 12 equal monthly installments of $3,167.003,750.00. Invoices will be submitted monthly. If any changes in or to applicable laws, codes, statutes and/or ordinances, or in the interpretation of such applicable laws, codes, statutes and/or ordinances, are made subsequent to the date of the contract, whereby the cost of the Work is increased and/or the time required for completion of the Work is increased, Owner may authorize, and pay for, as a Change Order under this Agreement, any such alterations, additions, services, outfit and/or equipment, and may grant Contractor any extension to the schedule of the Work as may be required to comply with any such change. If Contractor wishes to make a claim for an increase in the Agreement Price or an extension in the schedule of the Work, it shall give OWner Owner written notice thereof within a reasonable time after the occurrence of the event giving rise to such claim. This notice shall be given by Contractor before proceeding to execute the remaining Work, except in an emergency which endangers life or property, in which case Contractor shall have the authority to act, in its sole discretion, to prevent threatened damage, injury or loss. Claims arising from delay shall be made within a reasonable time after the delay. Increases based upon design and estimating costs with respect to changes requested by Owner shall be made within a reasonable time after the decision is made not to proceed with the change. No such claim shall be valid unless so made. Any change in the Agreement Price or to the schedule of the Work resulting from such claim shall be authorized by a Change Order, which will be binding upon Bay St. Louis only after Council approval.