PAYMENTS UNDER THE CONTRACT Clause Samples

The "Payments Under the Contract" clause defines the terms and conditions governing how and when payments are made between the parties involved in the agreement. It typically outlines the payment schedule, acceptable methods of payment, invoicing procedures, and any applicable penalties for late payments. For example, it may specify that payments are due within 30 days of receiving an invoice or that certain milestones must be met before payment is released. This clause ensures both parties have a clear understanding of their financial obligations, reducing the risk of disputes and facilitating smooth financial transactions throughout the contract's duration.
PAYMENTS UNDER THE CONTRACT. The Borrower and the Security Trustee authorise and instruct the Shipbuilder, and the Shipbuilder irrevocably and unconditionally agrees, to pay all amounts payable by it under the Contract without any offsets, recoupment, abatement, withholding or defence, to the credit of the account specified in Schedule 1 or to such other account as may be specified by notice in writing from time to time by the Security Trustee to the Shipbuilder (such notice, a “New Account Notice”). The Shipbuilder agrees that its payment obligations under the Contract shall not be discharged by payment in another form or to any other account or Person.
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PAYMENTS UNDER THE CONTRACT. (a) The Borrower and the Security Trustee authorise and instruct the Manager, and the Manager irrevocably and unconditionally agrees, to pay all amounts payable by it under the Contract without any offsets, recoupment, abatement, withholding or defence, to the credit of the account specified in Schedule 1 or to such other account as may be specified by notice in writing from time to time by the Security Trustee to the Manager (such notice, a “New Account Notice”). The Manager agrees that its payment obligations under the Contract shall not be discharged by payment in another form or to any other account or Person. (b) The Security Trustee agrees with the Borrower that it shall issue a New Account Notice to the Manager only if an event of default under the Project Facilities Agreement is continuing. (c) Notwithstanding Clause 3(b), the Parties agree that upon receipt by the Manager of a New Account Notice, the Manager shall not be put on enquiry as to whether an event of default under the Project Facilities Agreement is continuing and the Manager shall be entitled to treat the receipt of such New Account Notice as conclusive evidence of the Security Trustee’s right to issue such notice.
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PAYMENTS UNDER THE CONTRACT. 6.1 The Rates, Per 4 Hours Shift Per Day, accepted by JMRC shall remain fixed/firm through-out the contract period without any variation/escalation, except on account of revision as mentioned at para 2.1.9 of the ITT and will be applicable uniformly for all working days including Weekdays, Weekends, Gazette Holidays, National Holidays, Festivals etc. 6.2 The Rates, Per 4 Hours Shift Per Day, accepted by JMRC shall be revised as prescribed at para 2.1.9 of the ITT. 6.3 The payment shall be made by JMRC at the end of every month (billing period) based on the actual 4 hours shifts manned / operated (pro-rata) by the personnel supplied by the contractor and based on the documentary proof jointly signed by the Station Controller / Station Manager/ Station Superintendent of the respective station or any other authorized employee of JMRC and the contractor / his representative / personnel authorized by him. The same shall be verified by the Manager (concerned). No other claim on whatsoever account shall be entertained by JMRC. The payments made by JMRC shall, however, be subject to necessary deductions on account of penalty imposed by JMRC on the contractor, TDS, Service Tax etc. 6.4 The Contractor shall arrange to submit the monthly bills to JMRC within 15 days from the close of billing period and with the monthly bills the contractor shall be required to enclose the following: - 6.4.1 Details of deployment, as mentioned in 6.3 above duly verified by SC/SM/SS of concerned stations or any other authorized employee of JMRC and forwarded by Manager (concerned). Further a summary of the bill shall be attached. 6.4.2 Invoice, duly taking into account deployment at 6.4.1. 6.4.3 Salary statement for the previous month with Bank Statement / Bank Transfer details to substantiate the payment. 6.4.4 Copy of previous month‟s contract specific (TVS) EPF Challan. 6.4.5 Copy of previous month‟s contract specific (TVS) ESI Challan. 6.4.6 Copy of previous month‟s contract specific (TVS) Service Tax Challan. 6.4.7 Necessary undertakings / annexure(s). 6.4.8 Any other document demanded by JMRC. 6.4.9 After the submission of bills completed in all respects to the entire satisfaction of JMRC Ltd. JMRC will try to release the payments within 15 days from the last date of submission of completed bills. 6.5 As far as possible, contractor should make the payments to the contracted staff through ECS / Bank Transfer. In case of exigencies, the employees may be paid in Cheque / Cash (for t...
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PAYMENTS UNDER THE CONTRACT. Payment generally will be made within seven days, but we may defer payment if: (a) The New York Stock Exchange is closed; (b) Trading on the New York Stock Exchange is restricted; (c) An emergency exists such that it is not reasonably practical to dispose of securities in the applicable Variable Account or to determine the value of its assets; (d) The Securities and Exchange Commission by order so permits for the protection of security holders; or (e) Payment is derived from a check used to pay a Premium which has not cleared through the banking system. Conditions (b) and (c) will be decided by or in accordance with rules of the Securities and Exchange Commission. Transfers also may be deferred upon the occurrence of any of the events described above.
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PAYMENTS UNDER THE CONTRACT. Payment generally will be made within seven days of our receipt of a completed request, but we may defer payment if: (a) The New York Stock Exchange is closed; (b) Trading on the New York Stock Exchange is restricted; (
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PAYMENTS UNDER THE CONTRACT. Payments to the second party for the construction work will be released by the first party as mentioned below: On the second party submitting an Invoice supported by the monthly statement of estimated value of the work completed less the cumulative amount certified previously along with the details of quantity of works executed – given in the tabulated form approved by the Engineer; and on certification of the Invoice by the Engineer nominated by the first party with respect to quality and quantity of works in the format in Annexure 2. The Engineer will complete the certification of payments within 15 days of the submission of the Invoice by the Second Party. Payments shall be adjusted for deductions for retention, other recoveries in terms of the contract and taxes, at source, as applicable under the law. The Employer shall pay the Contractor the amounts certified by the Engineer within 28 days of the date of submission of the invoice by the Contractor. If an amount certified is increased in a later certificate or as a result of an award by an Arbitrator, the Contractor shall not be paid any interest upon the delayed payment. Items of the Works for which no rate or price has been entered in the ▇▇▇▇ of Quantities will not be paid for by the Employer and shall be deemed covered by other rates and prices in the Contract The Employer shall retain (Retention Money) 6% of the amount from each payment due to the Contractor subject to the maximum of 5% of final contract price. Half of the amount retained shall be repaid upon completion of the works, and other half shall be repaid when the Defects Liability Period has passed and the Engineer has certified that all defects notified to the Contractor before the end of this period have been corrected. On completion of the whole works the Contractor may substitute the balance retention money with an “on demand” Bank guarantee.
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PAYMENTS UNDER THE CONTRACT. Without limiting the rights of Buyer under the Contract, Buyer shall pay any amounts owed in the manner and when required under the Contract directly to the account specified by Agent to Buyer in writing. From and after such time as an entity qualifies as a Subsequent Owner, Buyer shall pay all such amounts owed directly to such Subsequent Owner.
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PAYMENTS UNDER THE CONTRACT. Payment generally will be made within seven days of our receipt of a completed request, but we may defer payment if: (a) The New York Stock Exchange is closed; (b) Trading on the New York Stock Exchange is restricted; (c) An emergency exists such that it is not reasonably practical to dispose of securities in the Separate Account or to determine the value of its assets; (d) The Securities and Exchange Commission by order so permits for the protection of security holders; or (e) Payment is derived from a check used to pay a Premium which has not cleared through the banking system. Conditions (b), (c) and (d) will be decided by or in accordance with rules of the Securities and Exchange Commission. Transfers also may be deferred upon the occurrence of any of the events described above. We reserve the right, at our option, to defer any payments in accordance with the deferment provisions of the Investment Company Act of 1940, as amended.
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PAYMENTS UNDER THE CONTRACT. All contract amounts are in dollars of the United States of America. Payments by the Company under the contract will be made at the Administrative Office of the Company. The obligations of the Company are subject to all payments made and actions taken by the Company under the Policy before receipt by the Company at its Administrative Office of proof of death of the Insured.
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Related to PAYMENTS UNDER THE CONTRACT

  • Payments under this Agreement In the event that one party (the “Owing Party”) is required to make a payment to another party (the “Owed Party”) pursuant to this Agreement, then such payments shall be made according to this Section 7.05.

  • Continuing Security Interest; Assignments under the Credit Agreement This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations, (ii) the Termination Date and (iii) the termination or expiration of all Letters of Credit and all Secured Hedge Agreements, (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of the Secured Parties and their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender Party herein or otherwise, in each case as provided in Section 8.07 of the Credit Agreement.

  • Payments Under Loan Documents The Borrower shall fail to pay any principal of any Loan (including scheduled installments, mandatory prepayments or the payment due at maturity), Reimbursement Obligation or Letter of Credit Borrowing or shall fail to pay any interest on any Loan, Reimbursement Obligation or Letter of Credit Borrowing or any other amount owing hereunder or under the other Loan Documents after such principal, interest or other amount becomes due in accordance with the terms hereof or thereof;

  • Obligations Under the Security Agreement The undersigned hereby agrees, as of the date first above written, to be bound as a Grantor by all of the terms and provisions of the Security Agreement to the same extent as each of the other Grantors. The undersigned further agrees, as of the date first above written, that each reference in the Security Agreement to an “Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned.

  • Consents Under Agreements The Company shall have obtained the consent or approval of each Person whose consent or approval shall be required under any Contract to which the Company or any of its Subsidiaries is a party, except those for which the failure to obtain such consent or approval, individually or in the aggregate, is not reasonably likely to have a Company Material Adverse Effect or is not reasonably likely to prevent or to materially burden or materially impair the ability of the Company to consummate the transactions contemplated by this Agreement.