Common use of Time for Payments Clause in Contracts

Time for Payments. Payments accruing under this Article 5 shall be made based on accrual time periods. The first accrual period shall be the period from the effective date of this agreement to the end of the next full calendar quarter. From then on each accrual period shall be each calendar quarter during the term hereof. Payment for an accrual period shall be made within thirty days of the close of that accrual period.