Common use of PAYMENT NOTIFICATION Clause in Contracts

PAYMENT NOTIFICATION. On each Notification Date, SPS shall notify the Payees of the amount of the Monthly Contingent Payment to be made on the next Payment Date. Such notification shall include a detailed summary of each component of such Monthly Contingent Payment in substantially the form of Exhibit A hereto (the “Notification Summary”), together with a certificate of the Chief Financial Officer of SPS (or, if there is a vacancy in such office, the Chief Executive Officer of SPS) stating that such statement was prepared on the basis described herein.