Provision for Payment Clause Samples

Provision for Payment. The STATE shall pay to the CONSULTANT, and the CONSULTANT agrees to accept as full compensation for his services under this agreement: Item I Specific Hourly rates of pay shown in SCHEDULE B for employees assigned to this PROJECT. The Specific Hourly rates are not subject to audit, however, the number of hours charged is subject to audit. If the AGREEMENT is extended beyond December 31, 2012 , then the Specific Hourly Rates of pay shown in SCHEDULE B will be increased annually by the higher of either the percent change for the Producer Price Index – Architectural, Engineering and Related Services (Series ID: PCU5413--5413--) for the most recent 12 month period as calculated by the U.S. Department of Labor - Bureau of Labor Statistics, or 3%.

Provision for Payment. (a) Provision for the payment of Bonds shall be deemed to have been made when the Trustee holds in the Bond Fund (1) cash in an amount sufficient to make all payments (including principal, premium, if any, interest and tender purchase price payments, if any) specified in Section 10.01 with respect to such Bonds, or (2) noncallable, direct obligations issued by the United States of America, maturing on or before the date or dates when the payments specified above shall become due, the principal amount of which and the interest thereon, when due, is or will be, in the aggregate, sufficient without reinvestment to make all such payments, or (3) any combination of cash and such obligations the amounts of which and interest thereon, when due, are or will be, in the aggregate, sufficient without reinvestment to make all such payments; provided that (i) such amount on deposit shall be deemed sufficient only if (A) while the Bonds bear interest at a Weekly Rate, it provides for payment of interest at the Maximum Rate and the Issuer shall have surrendered any power hereunder to thereafter change the Maximum Rate, or (B) while the Bonds bear interest at a Term Rate, it provides for payment of interest at such Term Rate and the Bonds have been irrevocably called or designated for redemption in accordance with Subsection 10.02(c) on or before the end of the Term Rate Period for which such Term Rate has been set and (ii) provision for payment of Bonds shall be deemed to be made only if (A) the Trustee holds in the Bond Fund cash constituting Available Moneys and/or such obligations purchased with Available Moneys for payment of such Bonds pursuant to Section 5.04 in amounts sufficient to make all payments specified above with respect to such Bonds, as verified by an accountant's certification in form and by an accountant acceptable to the Trustee and the Rating Agencies, and (B) in the case of Bonds in the Weekly Mode, the Bonds have been called for redemption on a date not more than 60 days from the date provision for payment is being made pursuant to this Section and, in determining the sufficiency of amounts held to make payments with respect to the Bonds, there shall be excluded any and all interest expected to be earned on obligations held by the Trustee. (b) Neither the moneys nor the obligations deposited with the Trustee pursuant to this Article shall be withdrawn or used for any purpose other than, and such obligations and moneys shall be segregated and held i...

Provision for Payment. A) The Stipend will be paid by NYSDOT to the Proposer only under the circumstances specified in this Article 4. The Proposer will not be entitled to payment of any Stipend Amount if the Proposal fails to: 1) Achieve a rating of “pass” on all Pass/Fail Evaluation Factors found in the RFP for the Project; or 2) Meet or exceed the minimum qualifying quality based evaluation threshold as required in the RFP; or 3) Include a competitive and responsible price proposal for the Project. B) The Proposer will not be entitled to payment of any Stipend Amount if the Proposer has filed an unsuccessful protest of the procurement process, award or cancellation of the procurement. In addition, as a condition of accepting payment of any Stipend Amount, the Proposer agrees to not file any protest of the procurement process, award, or cancellation of the procurement after accepting payment of the Stipend. C) The Proposer will not be entitled to payment of any Stipend Amount if the Proposer fails to submit an invoice in accordance with 4(D), below, or fails to provide satisfactory evidence substantiating its Qualified Costs (as defined in 4(E), below) in accordance with (D), below. D) In order to receive payment of the Stipend Amount, the Proposer shall submit to NYSDOT: two signed originals of Attachment 1 of this Stipend Agreement, two copies of a single invoice for its proposed Stipend Amount, two copies of all documentation required under (E) below, and proof of Workers’ Compensation and Disability Insurance as described in Article 9 of this Stipend Agreement, not later than 20 calendar days following the date of award of the Contract. If NYSDOT disagrees with the proposed Stipend Amount set forth in the Proposer’s initial invoice, NYSDOT will notify the Proposer in writing of its determination of the appropriate Stipend Amount based on its review of the Proposer’s substantiated costs, and the Proposer shall submit a revised invoice to NYSDOT within 14 days following receipt of any such notice. E) The Proposer shall maintain written records substantiating all Qualified Costs in sufficient detail to permit a proper audit thereof. Such records shall be made available for audit or verification of Qualified Costs upon request of NYSDOT at the time of this Agreement and for three years after final payment of the Stipend Amount is made. “Qualified Costs” shall comprise the direct costs, and overhead costs that are allowable and reasonable, and incurred by the Proposer, the Prop...

Provision for Payment. The STATE shall pay to the CONSULTANT, and the CONSULTANT agrees to accept as full compensation for his services under this Agreement: Item I Specific Hourly (fully loaded rates) Salary Rates of pay shown in EXHIBIT "A" and “B” for employees assigned to this PROJECT. The Specific Hourly rates and all components of those rates including the number of hours charged are subject to audit. The State may authorize additional titles to be added to the Specific Hourly Rate Table during the term of the Agreement and evidenced by a revised salary schedule. The Specific Hourly Rates for any additional titles shall be computed in a manner consistent with the computation of the initial Specific Hourly Rates.

Provision for Payment. A. The Contractor’s total compensation for performance of the Work under this Contract shall be B. Payments for Contractor’s Work shall be made monthly in accordance with this Article IV herein, General Conditions, Article 8 (Payment), and General Requirements, Section 012900 (Payment Procedures) in proportion to Work performed and approved by Owner. Payments shall be requisitioned on the Owner’s form (Contractor Application for Payment), with an accompanying copy of certified payrolls for the Contractor and its Subcontractors and other appropriate backup. Contractor’s and its Subcontractors’ certified payrolls shall show the names and rates of pay of all personnel performing the Work during the payment period, and their position classification. Said form must be included as a part of any Contractor Application for Payment related to the Work. Payment shall be made in accordance with the approved Schedule of Values (Exhibit E - Schedule of Values), which summarizes payments to be made under the payment provisions of the Contract Documents after the applicable Work is completed. C. The Contractor shall file no mechanic’s or materialman’s lien or maintain any claim against the Owner’s funds, real estate, property, or improvements for or on account of any work done, labor performed, or materials furnished under this Contract. The Contractor shall use its best efforts to prevent the placement of any liens on any Owner funds, real estate, property, or improvements by Contractor’s Subcontractors or their employees. If Contractor fails to prevent the filing of such liens or fails to bond against such liens, Contractor shall be responsible and liable for, and shall indemnify Owner for all of Owner’s costs, expenses (including attorneys’ fees), liabilities, damages, fees, penalties, judgments, and settlement costs arising either directly or indirectly from the placement of such lien. The obligations and liabilities of Contractor under this Article shall not apply where the basis for such lien relates to amounts invoiced by Contractor that are either not paid or are disputed by Owner.

Provision for Payment. Item I – The State shall pay to the CONSULTANT and the CONSULTANT agrees to accept as full compensation for its services under this CONTRACT payments per the fixed milestone schedule payment schedules in each Task Assignment approved under this CONTRACT.

Provision for Payment. The STATE shall pay to the CONSULTANT, and the CONSULTANT agrees to accept as full compensation for his services under this Agreement:

Provision for Payment. (a) When eligible for normal retirement under the WFPP, an Eligible Member shall be entitled to a Retiring Allowance upon retirement in a lump sum subject to the following provisions: (i) With Creditable Service of 25 years or more: (ii) With Creditable Service of 15 to 24 years -- one-eleventh (1/11) of: for each year of service between 14 and 25 years of Creditable Service. (iii) With Creditable Service of fourteen (14) years or less -- nil. (b) If having attained the age required for early retirement under the WFPP and having fifteen (15) or more years creditable service at that time, an Eligible Member shall be entitled to a Retiring Allowance upon retirement in accordance with 7(a)(i) or (ii) above discounted by the same factors used to calculate early retirement under the WFPP. Effective January 1, 2003: If an Eligible Member retires after attaining the age of sixty (60), the Retiring Allowance will not be discounted under the WFPP early retirement factors.

Provision for Payment. The STATE shall pay to the CONSULTANT, and the CONSULTANT agrees to accept as full compensation for services provided under this agreement: Item I All-Inclusive monthly fee, as shown in SCHEDULE B for all anticipated labor, services supplies and parts to operate and manage the wastewater treatment plants and water treatment plants. If the AGREEMENT is extended beyond (end date in Article 4) , then the monthly fee shown in EXHIBIT ___ is eligible for rate adjustment. It may be increased annually by the lower of either the percent change for the Producer Price Index – Architectural, Engineering and Related Services (Series ID: PCU5413--5413--) for the most recent 12 month period as calculated by the U.S. Department of Labor - Bureau of Labor Statistics, or 1.5%, subject to current market conditions. If at any time the above Index Series ID is discontinued or becomes unavailable, the STATE reserves the right to implement a comparable Index. Item II Start-Up Costs that are not part of the monthly fee but are for one-time mobilization.shall be paid per Schedule B. Item III Unanticipated Expenses: When the Department negotiates the contract, it will add a budget for unforeseen expenses (subject to NYSDOT’s review and approval) that occur during the course of the contract. Items purchased under this PROJECT shall become the property of the STATE at the completion of the work, or at the option of the STATE, appropriate value shall be established as a credit to the STATE.