Common use of Timeframe for payment Clause in Contracts

Timeframe for payment. (a) Subject to clauses 9.4(d) and 9.5(b), the Principal must pay the Operator any undisputed amount set out as then payable in the Operator Invoice within 5 Business Days of receiving a Payment Claim. (b) Despite any other provision of this Agreement, the Parties acknowledge and agree that, where the Act or Regulations authorise the Principal to decide that an amount claimed by the Operator is not payable: (i) the Principal may decide, in accordance with the relevant provisions of the Act and Regulations, that an amount claimed under clause 9.4(a) is not payable to the Operator; (ii) the Principal will not be required to comply with its obligations in clause 9.5(a) to the extent that it has made a decision under clause 9.5(b)(i) with respect to the relevant amount claimed; and (iii) where the Principal has made a decision under clause 9.5(b)(i) with respect to any amount claimed, the Principal must give the Operator an information notice for the decision that complies with the requirements of the Act or the Regulations (if any).

Timeframe for payment. (a) Subject to clauses 9.4(d9.4(e) and 9.5(b), the Principal must pay the Operator any undisputed amount set out as then payable in the Operator Invoice within 5 Business Days of receiving a Payment Claim. (b) Despite any other provision of this Agreement, the Parties acknowledge and agree that, where the Act or Regulations authorise the Principal to decide that an amount claimed by the Operator is not payable: (i) the Principal may decide, in accordance with the relevant provisions of the Act and Regulations, that an amount claimed under clause 9.4(a) is not payable to the Operator; (ii) the Principal will not be required to comply with its obligations in clause 9.5(a) to the extent that it has made a decision under clause 9.5(b)(i) with respect to the relevant amount claimed; and (iii) where the Principal has made a decision under clause 9.5(b)(i) with respect to any amount claimed, the Principal must give the Operator an information notice for the decision that complies with the requirements of the Act or the Regulations (if any).