Common use of Performance Payment Clause in Contracts

Performance Payment. (a) The Training Provider shall perform the Services with the aim of achieving payment of the full Performance Payment for each College. (b) On or before the last day of the Academic Year, the Training Provider shall submit to the Procurer a report (the Annual Report) summarising the Training Provider's assessment of its performance of the Services for that Academic Year with reference to the Milestone Payments and the KPI Payments for each College. The Annual Report shall identify the following: (i) in respect of the Milestone Payment, the number of instances where the Training Provider failed during the course of the Academic Year to comply with the Milestones and the resulting percentage that the Procurer is entitled to deduct from the Milestone Payment in accordance with Schedule 4; (ii) in respect of the KPI Payment: (A) the SSS Institutional Review Grade; (B) the total number of College training staff employed at each College at the end of the Academic Year together with the number of those College training staff who hold SSS Qualifications or Equivalent Qualifications; and (C) the One Year Employment Rate. (c) Following receipt of the Annual Report, the Procurer shall, in respect of each College, proceed to determine the Performance Payments due to the Training Provider. (d) As soon as reasonably practicable following the end of the Academic Year, and in any event no later than sixty (60) days after the end of the Academic Year, the Procurer shall, in respect of each College, notify the Training Provider of the Performance Payments due in accordance with Schedule 4. (e) Following notification by the Procurer pursuant to Clause 6.5(d), the Training Provider shall submit to the Procurer an invoice for the amount of the aggregate of the Performance Payments for each College (broken down on a College-by-College basis). (f) If the Training Provider disagrees with a determination of the Procurer as to the appropriate Performance Payment payable pursuant to this Clause 6.5, such disputed amount shall be resolved in accordance with the provisions of Clause 7.2.

Performance Payment. (a) The Training Provider shall perform the Services with the aim of achieving payment of the full Performance Payment for each College. (b) On or before the last day of the Academic Year, the Training Provider shall submit to the Procurer a report (the Annual Report) summarising the Training Provider's assessment of its performance of the Services for that Academic Year with reference to the Milestone Payments and the KPI Payments for each College. The Annual Report shall identify the following: (i) in respect of the Milestone Payment, the number of instances where the Training Provider failed during the course of the Academic Year to comply with the Milestones and the resulting percentage that the Procurer is entitled to deduct from the Milestone Payment in accordance with Schedule 4;; 0109473-0000004 DB:10637474.3 14 (ii) in respect of the KPI Payment: (A) the SSS Institutional Review Grade; (B) the total number of College training staff employed at each College at the end of the Academic Year together with the number of those College training staff who hold SSS Qualifications or Equivalent Qualifications; and (C) the One Year Employment Rate. (c) Following receipt of the Annual Report, the Procurer shall, in respect of each College, proceed to determine the Performance Payments due to the Training Provider. (d) As soon as reasonably practicable following the end of the Academic Year, and in any event no later than sixty (60) days after the end of the Academic Year, the Procurer shall, in respect of each College, notify the Training Provider of the Performance Payments due in accordance with Schedule 4. (e) Following notification by the Procurer pursuant to Clause 6.5(d), the Training Provider shall submit to the Procurer an invoice for the amount of the aggregate of the Performance Payments for each College (broken down on a College-by-College basis). (f) If the Training Provider disagrees with a determination of the Procurer as to the appropriate Performance Payment payable pursuant to this Clause 6.5, such disputed amount shall be resolved in accordance with the provisions of Clause 7.2.