Total Payment Not to Exceed Sample Clauses

The "total-payment-not-to-exceed" clause sets a firm upper limit on the total amount that can be paid under a contract. In practice, this means that regardless of the number of services rendered or goods delivered, the cumulative payments made by the client cannot surpass the specified maximum amount. For example, even if additional work is requested, the contractor cannot be compensated beyond the agreed cap unless the contract is formally amended. This clause serves to control costs and protect the paying party from unexpected or unlimited financial exposure.
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Total Payment Not to Exceed. Fifteen Percent (15%). Total payment of State funds under this Agreement shall not exceed the lesser of: Fifteen percent (15%) of Grantee’s total, estimated, Allowable Expenditures as set forth in the Budget Plan; or Fifteen percent (15%) of Grantee’s total, final, Allowable Expenditures upon Project Completion. Allowable Expenditures. Grantee shall only be reimbursed for “Allowable Expenditures” actually and previously incurred by Grantee. “Allowable Expenditures” are Project expenditures that are: Directly related to the installation of Broadband Infrastructure that facilitates 25/3 Broadband; Utilized for the installation of Broadband Infrastructure in Targeted Service Areas identified in the Application/forming the basis of the Project (except and solely to the extent as otherwise permitted by an exception granted to a Grantee by the Office as part of the Application process, as permitted by and in accordance with Iowa Administrative Code chapter 129—22 and the NOFA); Within the specific categories of expenditures set forth on and permitted by the Budget Plan; Not incurred prior to the date of the issuance of this NOFA. Allowable Expenditures do not include expenditures that are: Related to land buildings, structures, improvements, or equipment not directly used in the transmission of data via Broadband; Related to the process of removing existing Broadband Infrastructure, fixtures, or other real property in preparation of the installation of the Broadband Infrastructure; Indirect labor costs and/or administrative overhead; Passthrough expenditures with respect to Grantee Contractors to the extent they are not the result of arm’s length transactions or are not reflective of fair-market rates. The Office may deny a request for reimbursement for any expenditures that do not constitute Allowable Expenditures, and Grantee shall not otherwise be entitled to reimbursement for any such expenditures.
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Total Payment Not to Exceed. Fifteen Percent (15%). Total payment of State funds under this Agreement shall not exceed the lesser of: 4.2.1. Fifteen percent (15%) of Grantee’s total, estimated, Allowable Expenditures as set forth in the Budget Plan; or 4.2.2. Fifteen percent (15%) of Grantee’s total, final, Allowable Expenditures upon Project Completion.
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Related to Total Payment Not to Exceed

  • Maximum Total Payment Including the reimbursable expenses shown above (if any), the maximum total payment under this Contract is $ ; this is a not-to-exceed amount, and the District will not pay more than this amount unless specifically agreed to in an amendment executed by the parties.

  • Total Payment City shall pay for the services to be rendered by Consultant pursuant to this Agreement. City shall not pay any additional sum for any expense or cost whatsoever incurred by Consultant in rendering services pursuant to this Agreement. City shall make no payment for any extra, further, or additional service pursuant to this Agreement. In no event shall Consultant submit any invoice for an amount in excess of the maximum amount of compensation provided above either for a task or for the entire Agreement, unless the Agreement is modified prior to the submission of such an invoice by a properly executed change order or amendment.

  • Thirty Day Payments Upon receipt of a billing statement that complies with all invoice requirements set forth in this Article, the State shall make a good faith effort to pay the amount which is due and payable within thirty

  • Amount The required additional Security shall be in an amount equal to the amount necessary to gross up fully for currently applicable federal and state income taxes the estimated Costs of Local Upgrades and Network Upgrades for which Interconnection Customer previously provided Security. Accordingly, the additional Security shall equal the amount necessary to increase the total Security provided to the amount that would be sufficient to permit the Interconnected Transmission Owner to receive and retain, after the payment of all applicable income taxes (“Current Taxes”) and taking into account the present value of future tax deductions for depreciation that would be available as a result of the anticipated payments or property transfers (the “Present Value Depreciation Amount”), an amount equal to the estimated Costs of Local Upgrades and Network Upgrades for which Interconnection Customer is responsible under the Interconnection Service Agreement. For this purpose, Current Taxes shall be computed based on the composite federal and state income tax rates applicable to the Interconnected Transmission Owner at the time the additional Security is received, determined using the highest marginal rates in effect at that time (the “Current Tax Rate”), and (ii) the Present Value Depreciation Amount shall be computed by discounting the Interconnected Transmission Owner’s anticipated tax depreciation deductions associated with such payments or property transfers by its current weighted average cost of capital.

  • Severance Amount If the Company is required to pay Executive severance by the express terms of Section 7(a) or 7(b), the Company shall pay Executive the following as severance: (1) Executive's Base Salary at the highest rate in effect prior to the Termination Date as salary continuation for a period of eighteen months commencing on the date on which Executive's employment with the Company is terminated (the "TERMINATION DATE") (the "SEVERANCE PERIOD"), payable in equal monthly installments pursuant to the Company's customary payroll practices for executive salaries; provided, however, that, at the option of the Company, the amounts payable under this Section 7(c) may be paid by the Company in one lump sum. (2) Executive, Executive's spouse, and Executive's dependents will continue to be eligible for coverage under the Company's group health plan or any successor plan on the same basis as active executive employees of the Company, their spouses, and their dependents for the duration of the Severance Period. If and when group health coverage under another employer's plan is made available to Executive, Executive's spouse, or Executive's dependents, the Company's obligations under this paragraph will cease with respect to each person to whom such coverage is made available, notwithstanding that such person may not in fact become covered under such other employer's plan. Executive's portion of the premium for such coverage shall be withheld from the salary continuation payments described in paragraph (1) immediately above or, if salary continuation has been paid in a lump sum, Executive shall reimburse the Company for Executive's portion of the premium on a monthly basis. (3) An amount equal to the sum of amounts paid or payable to Executive as bonuses by the Company for the year prior to the year in which the Termination Date occurs. This amount will be payable in one lump sum, to Executive within 30 days after the end of the Severance Period. (4) Executive shall become 100% vested in all of the shares of restricted stock granted to Executive under the Mariner Energy, Inc. Equity Participation Plan to the extent Executive is less than 100% vested in such shares as of the Termination Date. (5) Executive shall become 50% vested in all of the rights and interests granted to Executive under the Company's stock and other equity plans (other than the Mariner Energy, Inc. Equity Participation Plan), including without limitation any stock options, restricted stock, restricted stock units, performance units, and/or performance shares to the extent Executive is less than 50% vested in such award as of the Termination Date. (6) Notwithstanding any other provision hereof, if the Company incurs an obligation to pay severance under this Section 7(c) in connection with the termination of Executive's employment after the consummation of an initial public offering by the Company, then, subject to Section 7(h), Executive shall be entitled to receive the amounts specified in Section 8(a) in lieu of the amounts specified in Sections 7(c)(1) and 7(c)(3). (7) Payments under this Section 7(c) shall be in lieu of any severance benefits otherwise due to Executive under any severance pay plan or program maintained by the Company that covers its employees or executives generally. If Executive receives payment under Section 8(a), payments otherwise payable under Section 7(c)(1) shall terminate.