Common use of Timeframe for payment Clause in Contracts

Timeframe for payment. (a) Subject to clause 10.4(d), the Principal must: (i) within 15 Business Days of receiving a valid Recovery Amount Claim, issue the MRFO with a claim assessment, which must include the following information: (A) the Total Recovery Amount payable to the MRFO for the Quarter; (B) any amounts set-off or deducted by the Principal from the Total Recovery Amount; and (C) the sum of the estimated number of Containers processed for reuse or recycling during the Quarter for all Material Types, (Claim Assessment); and (ii) within 20 Business Days of issuing a Claim Assessment, pay the MRFO: (A) the Total Recovery Amount payable by the Principal as determined in accordance with this Deed and the Recovery Amount Protocol; plus (B) any adjustments or other amounts calculated in accordance with this Deed, which may be a positive or negative value. (b) The Principal must make payment to the MRFO's nominated bank account, as set out in the Reference Schedule, or as notified by the MRFO from time to time. (c) The MRFO must not make a Recovery Amount Claim for a quantity of Containers if the MRFO received, sorted or otherwise handled the Containers before: (i) if the Effective Date is on or before the Scheme Commencement Date, the Scheme Commencement Date; and (ii) if the Effective Date is after the Scheme Commencement Date, the Effective Date. (d) The Principal may refuse to issue a Claim Assessment in respect of a Recovery Amount Claim where it reasonably determines that the Recovery Amount Claim has not been made in accordance with this Deed and the Recovery Amount Protocol, in which case: (i) the Principal must provide the MRFO with written reasons for the refusal; (ii) the MRFO may amend the Recovery Amount Claim under clause 10.6; and (iii) the Principal is not liable to make any payment to the MRFO until it has received a Recovery Amount Claim that has been made in accordance with this Deed and the Recovery Amount Protocol.

Timeframe for payment. (a) Subject to clause 10.4(d), the Principal must: (i) within 15 Business Days of receiving a valid Recovery Amount Claim, issue the MRFO Operator with a claim assessment, which must include the following information: (A) the Total Recovery Amount payable to the MRFO Operator for the Quarter; (B) any amounts set-off or deducted by the Principal from the Total Recovery Amount; and (C) the sum of the estimated number of Containers processed for reuse or recycling during the Quarter for all Material TypesQuarter, (Claim Assessment); and (ii) within 20 Business Days of issuing a Claim Assessment, pay the MRFOOperator: (A) the Total Recovery Amount payable by the Principal as determined in accordance with this Deed and the Recovery Amount ProtocolApproved Methodology; plus (B) any adjustments or other amounts calculated in accordance with this Deed, which may be a positive or negative value. (b) The Principal must make payment to the MRFOOperator's nominated bank account, as set out in the Reference Schedule, or as notified by the MRFO Operator from time to time. (c) The MRFO Operator must not make a Recovery Amount Claim for a quantity of Containers if the MRFO Operator received, sorted or otherwise handled the Containers before: (i) if the Effective Date is on or before the Scheme Commencement Date, the Scheme Commencement Date; and (ii) if the Effective Date is after the Scheme Commencement Date, the Effective Date. (d) The Principal may refuse to issue a Claim Assessment in respect of a Recovery Amount Claim where it reasonably determines that the Recovery Amount Claim has not been made in accordance with this Deed and the Recovery Amount ProtocolApproved Methodology, in which case: (i) the Principal must provide the MRFO Operator with written reasons for the refusal; (ii) the MRFO Operator may amend the Recovery Amount Claim under clause 10.6; and (iii) the Principal is not liable to make any payment to the MRFO Operator until it has received a Recovery Amount Claim that has been made in accordance with this Deed and the Recovery Amount ProtocolApproved Methodology.