Payments to the State Clause Samples
Payments to the State. 1. During the valid period of the Concession Contract, the Concession Holder agrees to make available to DGEG, annually, during the initial period of the concession (eight years, which may be extended twice for periods of one year), annual financing equal to 50,000 € (fifty thousand euros) in the first five years, and 75,000 € (seventy-five thousand euros) in the remaining years in the initial period of the concession, for:
a. Technology transfer programs, updates/training and promotional activities;
b. Acquisition and/or contracting of equipment / specialized technical means;
c. Preservation and treatment of technical data and information.
2. During the valid period of the Concession Contract, the Concession Holder must transfer, every year for the period of five years, with priority given to the University of Lisbon and the University of Coimbra, the amount of 25,000 € (twenty-five thousand euros), for technology transfer programs, special studies and training.
3. In the event of discovery, and once production is initiated, the Concession Holder, after recovering the costs for research and development of the oil field(s), and after discounting the operating costs for production, that is, when it attains a positive net result, must also pay the following to DGEG in a continuous manner: · 2% (two percent) of the value of the first 5 (five) million barrels of oil equivalent produced and effectively commercialized; · 5% (five percent) of the amount of production and commercialization of oil equivalent between 5 (five) and 10 (ten) million barrels; · 7% (seven percent) of the amount of the remaining barrels of oil equivalent produced and commercialized.
4. Within 30 (thirty) days after the end of each quarter, the Concession Holder will present all relevant information for calculating the amount it owes to DGEG, in accordance with what is established in number 2 above. This information must include production values, plus the costs of research, development, production and operation, the amounts obtained from sales of oil, and the taxes charged or to be charged. The Concession Holder will provide its estimate of what it should pay to DGEG in relation to the quarter in question. The DGEG will then issue an invoice of amounts owed, and it will notify the Concession Holder of this invoice. This amount must be paid within 30 (thirty) days following the date that invoice is received. Failure to pay this amount is a serious violation of the Concession Holder’s contr...
Payments to the State. 15.1.1 The Commonwealth will make payments to the State in accordance with the provisions of this Agreement following receipt by the AGO of a correctly rendered invoice.
15.1.2 An invoice is correctly rendered for the purpose of subclause 15.1.1 if:
a. it only claims costs for one item of the following eligible RRPGP expenditures:
(i) RRPGP Extension Sub-programmes Rebate costs (including the Initial Value for the Funding Float and any Top-Up Amount for the Funding Float that represents eligible capital costs); or
(ii) eligible administration costs;
b. it identifies the GST payable in relation to administration costs;
c. it identifies that the GST does not apply to transfers between the AGO and the State for RRPGP Extension Sub-programmes Rebate costs, including for RRPGP Extension Sub-programmes Project costs. GST on these invoices should be marked as nil ($0.00);
d. claims for Funding Float top-up amounts (representing Rebate payments made), are specifically labelled with the name of the relevant RRPGP Extension Sub-programmes and separately identified; and
e. where the invoice relates to administration costs, the State identifies the breakdown of costs incurred in accordance with the breakdown of eligible administration costs provided in subclause 14.1 and using the templates provided in Appendix 1.
Payments to the State. 1. By the twentieth (20th) day of each month during this Agreement, beginning July 20, 2020, the Concessionaire will pay the State the Concession Fee for the preceding month as defined in Section A above and the ITB.
2. The Concessionaire shall make payments in United States of America currency either in cash or by check, bank draft, money order payable to the State of Alaska or electronic funds transfer (EFT). The Concessionaire shall submit payments free from any claim, demand, setoff, or counterclaim of any kind against the State of Alaska, Fairbanks International Airport, Accounting, ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇. The State must receive payments on or before the due date.
Payments to the State. The State Agreements provide for the payment of fees in accordance with Section 18-21.011, Florida Administrative Code, which section provides for the payment of a minimum annual fee or six percent (6%) of the annual rental value from the wet slip rental area, whichever is greater. Notwithstanding anything contained in the State Agreements to the contrary, the Company and the City shall pay their respective shares of the payments due to the State during the term of the State Agreements and any extensions thereof, as follows:
Payments to the State. During the valid period of the Concession Contract, the Concession Holder agrees to make available to DGEG, annually, during the initial period of the concession (eight years, which may be extended twice for periods of one year), annual financing equal to 50,000 € (fifty thousand euros) in the first five years, and 75,000 € (seventyfive thousand euros) in the remaining years in the initial period of the concession, for:
Payments to the State. The State shall be entitled, subject to the limitation provided in clause 10 of this agreement, to receive the funds to be provided by the Commonwealth under this agreement by payments of amounts equal to expenditure by the State on the work from time to time and of such additional amounts as are, in the opinion of the Minister, reasonably required as a working advance to meet expenditure incurred or to be incurred.