Common use of Phases Clause in Contracts

Phases. a. During the Program Verification Phase, the Fund shall make monthly installment payments to the Consultant of the Program Verification Payment, which installment payments shall total a sum equal to 100 percent of the Program Verification Payment. b. During the Concept Phase, the Fund shall make monthly installment payments to the Consultant of the Concept Phase, which installment payments shall total a sum equal to 100 percent of the Concept Phase Payment. c. During the Schematic Design Phase the Fund shall make monthly installment payments to the Consultant of the Schematic Payment, which installment payments shall total a sum equal to 100 percent of the Schematic Design Payment. d. During the Design Manual Phase, the Fund shall make monthly installment payments to the Consultant of the Design Manual Payment, which installment payments shall total a sum equal to 100 percent of the Design Manual Payment. e. During the Construction Document Phase the Fund shall make monthly installment payments to the Consultant of the Construction Documents Payment, which installment payments shall total a sum equal to 100 percent of the Construction Documents Payment. Said payment shall be broken down into two parts; 95 percent of the construction document payment will be paid upon completion of Article 1, Section B (5), items a through e. The remaining 5 percent of the payment will be paid upon completion of Article 1, Section B (5) items f and g.