Provisional Invoices Sample Clauses
The Provisional Invoices clause allows a party to issue invoices based on estimated or preliminary figures before final amounts are determined. Typically, this means that payment is requested for goods or services delivered, even if the exact quantities or values are not yet finalized, with adjustments made later once the actual figures are confirmed. This clause facilitates timely cash flow and ensures that business operations are not delayed while waiting for final calculations, addressing the problem of payment delays due to pending final data.
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Provisional Invoices. (A) In the event (i) a rate or index used in the calculation of an amount is not available on a temporary or permanent basis; or (ii) any other relevant information necessary to compute an invoice is not available, the invoicing Party may issue a provisional invoice ("Provisional Invoice") in an amount calculated, in the case of subsection (i) of this Clause 12.1.4(A), in accordance with Clause 1.3, and, in the case of subsection (ii) of this Clause 12.1.4(A), based on the best estimate of the unavailable information by the Party issuing the Provisional Invoice. A Provisional Invoice shall be deemed to be an invoice issued pursuant to Clause 12.1.1 through 12.1.2, as applicable, for the purposes of the payment obligations of Project Co or the Transporter, as applicable, and shall be subject to subsequent adjustment in accordance with Clause 12.1.4(B).
(B) If a Provisional Invoice has been issued, the invoicing Party shall issue a final invoice reflecting any credit or debit, as applicable, to the Provisional Invoice as soon as reasonably practicable after the information necessary to compute the payment has been obtained by such Party. Project Co and Transporter shall settle such debit or credit amount, as the case may be, when payment of the next invoice is due pursuant to Clause 12.2 or, if earlier, upon the termination of this Agreement.
Provisional Invoices. 8.4.1. If Seller is unable to (a) obtain from Buyer the quantity of MMBtus of LNG delivered to Buyer within three (3) Days after making an LNG Cargo available to Buyer (including the results of sampling and analysis required pursuant to Clause D.4); or to have a representative present as provided pursuant to Clause D.1.1 or (b) obtain any other relevant information necessary to compute an invoice pursuant to Section 8.1, then Seller may issue a provisional invoice (“Provisional Invoice”) in an amount calculated based on the Expected Delivery Quantity for the LNG Cargo. A Provisional Invoice will be deemed to be an invoice issued pursuant to Section 8.1 for the purposes of the payment obligations of Buyer and will be subject to subsequent adjustment pursuant to Section 8.4.2.
8.4.2. If Seller issues a Provisional Invoice, then Seller shall issue a final invoice reflecting any credit or debit, as applicable, to the Provisional Invoice as soon as reasonably practicable after (a) Seller receives the results of sampling, analysis, and quantity determination (as required pursuant to Clause B.13.3 or C.13.3 (as applicable) and Clauses D.4 and D.5), if the Provisional Invoice was issued as a result of Section 8.4.1(a); or (b) Seller obtains the information necessary to compute the payment, if the Provisional Invoice was issued as a result of Section 8.4.1(b). Buyer and Seller shall settle such debit or credit amount, as the case may be, when
Provisional Invoices. With respect to each Crude Oil Withdrawal, within [***], Gunvor shall prepare and deliver to CVR an invoice for the estimated volume of Crude Oil Withdrawals to be made on [***] (“Provisional Invoice”). For estimated Crude Oil Withdrawal volumes to be delivered on a Saturday, the Provisional Invoice for such estimated volumes of Crude Oil shall be included on [***] Provisional Invoice. For estimated Crude Oil Withdrawal volumes to be delivered on a Sunday, the Provisional Invoice for such estimated volumes of Crude Oil shall be included on the prior Friday Provisional Invoice. For estimated Crude Oil Withdrawal volumes to be delivered on a day in which the NYMEX or US banks are closed (“Holiday”), the Provisional Invoice for such estimated volumes of Crude Oil shall be included on [***] Provisional Invoice that is [***]. Such Provisional Invoices shall identify the estimated volume and grade of Crude Oil to be delivered at the applicable Delivery Point. For any Crude Oil Withdrawals on a non-Business Day not otherwise provided for herein, Gunvor shall prepare and deliver to CVR a Provisional Invoice therefor which identifies the estimated volume and grade of Crude Oil to be delivered at the applicable Delivery Point on [***]. The Parties acknowledge that the Provisional Transfer Price included in any Provisional Invoice will be trued-up on a monthly basis in accordance with Section 8.4(c) to reflect the actual Transfer Price based on the actual components set forth in Section 8.1.
Provisional Invoices. (a) In respect of each Parcel, the Seller shall, at the Production Facilities or the Port of Loading, determine the full weight and moisture content of the Parcel and conduct a provisional assay of the Parcel, and shall set out the results thereof in a provisional certificate (the “Provisional Certificate”), which shall be delivered to the Buyer together with the Provisional Invoice, and any Advance Provisional Invoice for that Parcel.
(b) For purposes of calculating the amount of the Provisional Payment for a Parcel, the Total Compensation shall be estimated by the Seller based on: (i) the Provisional Payment Certificate; (ii) the Deductions then in effect; and (iii) the Seller’s calculation of the Payable Copper Price, Payable Gold Price and Payable Silver Price using provisional metal prices determined in accordance with Article 7 hereof but based on the daily average price thereof during the Calendar Week prior to the Calendar Week containing the date of the ▇▇▇▇ of lading for the Parcel. The Seller shall prepare and deliver to the Buyer a provisional invoice (the “Provisional Invoice”) for each Parcel in an amount equal to the Provisional Payment relating thereto, calculated as aforesaid no less than three Business Days before the Provisional Payment Date.
(c) [Redacted]*
Provisional Invoices. On or before the fifth calendar day of each calendar month, TCMC shall submit to Sojitz a provisional invoice for all Sojitz Product delivered to Sojitz during the preceding calendar month. The Budgeted Cost of Production reflected in each invoice shall be that identified in the then-current Budget.
Provisional Invoices. (a) In the event (i) an invoice required to be issued hereunder includes a calculation based on the Provisional Transfer Price or any portion thereof and the information required to calculate the Final Transfer Price or portion thereof is not available; (ii) a rate or index used in the calculation of an amount is not available on a temporary or permanent basis; or (iii) any other relevant information necessary to compute an invoice is not available, the invoicing Party may issue a provisional invoice (“Provisional Invoice”) in an amount calculated, in the case of subsection (i), based on the temporary estimated terms described in the applicable definition or definitions in Section 9.1, in the case of subsection (ii) of this Section 10.1.8(a), in accordance with Section 1.3, and, in the case of subsection (iii) of this Section 10.1.8(a), based on the best estimate of the unavailable information by the Party issuing the Provisional Invoice. A Provisional Invoice shall be deemed to be an invoice issued pursuant to Section 10.1.1 through 10.1.4, as applicable, for the purposes of the payment obligations of Seller or Buyer, as applicable, and shall be subject to subsequent adjustment in accordance with Section 10.1.8(b).
(b) If a Provisional Invoice has been issued, the invoicing Party shall issue a final invoice reflecting any credit or debit, as applicable, to the Provisional Invoice as soon as reasonably practicable after the information necessary to compute the final amount of the payment has been obtained by such Party (“Final Invoice”). The settlement amount for a Final Invoice shall equal the difference between the amount of the Provisional Invoice and the amount of the Final Invoice, and such settlement amount shall be applied in the next invoice issued pursuant to Section 10.1.1 as a payment to the applicable Party or, if earlier, upon the termination of this Agreement.
(c) If a Final Invoice has previously been issued in respect of a Provisional Invoice, the invoicing Party shall have a right to issue a revised Final Invoice reflecting any further credit or debit, as applicable, to the Final Invoice as soon as reasonably practicable after the information necessary to compute the final amount of the payment has been obtained by such Party. The settlement amount for a revised Final Invoice shall equal the difference between the amount of the Final Invoice and the amount of the revised Final Invoice, and such settlement amount shall be applied in the nex...