Payment by the City. Article K-1 –
Payment by the City. CITY agrees to pay invoices for all professional services performed as soon as reasonably possible, but not later than thirty (30) days from receipt. Upon dispute, however, the CITY may, upon notice to the CONSULTANT, withhold payment to the CONSULTANT for the amount in dispute only, until such time as the exact amount of the disputed amount due to the CONSULTANT is determined.
Payment by the City. Provided Lessee performs its obligations contained in Exhibit H and this paragraph 10 (including but not limited to providing the City with pay applications pursuant to a schedule of values and associated documentation), the City will reimburse Lessee for all Seawall Improvements in an amount not to exceed the budget set by the City.
Payment by the City. The City shall Authorize payment to be made to the Developer pursuant to the applicable provisions of the Fiscal Agent Agreement within 10 business days of the approval or deemed approval pursuant to Subsection 6(e)(iii) above. The City may Authorize any payment jointly to the Developer and any mortgagee or trust deed beneficiary, contractor or supplier of materials, as their interests may appear, or solely to any such third party, if the Developer so requests the same in writing or as the City otherwise determines such joint or third party payment is necessary to obtain lien releases. Subject to Section 3(a), if there are insufficient Funding Sources to pay the full amount of a payment request, then the City shall Authorize as much of the amount on the payment request as there are Funding Sources available, and the payment of the balance of the payment request shall be deferred until there are sufficient Funding Sources available to the remaining balance of the payment request. Promptly following the availability of Funding Sources, the City shall, from time to time and in as many installments as necessary, Authorize the remaining balance of the payment request. Payment requests may be paid (i) in any number of installments as Funding Sources become available and (ii) irrespective of the length of time of such deferral of payment.
Payment by the City. The CITY agrees to pay 50% of the Maximum Cost to the COUNTY upon the commencement of construction, which date shall be the date indicated on the COUNTY’s notice of commencement issued to its Contactor. When the CITY has made final inspection and has deemed the Improvement to have been constructed in accordance with the contract documents the CITY shall promptly pay to the COUNTY the remaining balance of the Maximum Cost, up to the actual cost of the project for all work due under the terms of this agreement.
Payment by the City. Subject to the right of Concessionaire to contest taxes, assessments and governmental charges as hereinabove provided, the City may, at any time that the payment of any item of taxes, special assessments or governmental charges which Concessionaire is obligated to pay under the provisions of Section 4.02 remains unpaid, give written notice to Concessionaire of its default and if Concessionaire continues to fail to pay such item of taxes, special assessments or governmental charges or to contest the same in good faith, then at any time after fifteen (15) days from the date of such written notice the City may pay the items specified in the notice and Concessionaire covenants thereupon on demand to reimburse the City any amount so paid or expended in the payment of the items specified in the notice, with interest thereon at the Floating Rate (as hereinafter defined) from the date of such payment by the City until repaid by Concessionaire; provided however, if the City, without giving the fifteen (15) days- notice provided for above, pays any such item which has not been paid by Concessionaire within the time required in Section 4.02, or which has not then or thereafter been successfully contested by Concessionaire, Concessionaire shall nevertheless reimburse the City for such item, but without interest. The term "Floating Rate" shall mean the annual rate of interest from time to time published or announced by The Wall Street Journal. as the prime rate or base commercial lending rate, or if The Wall Street Journal (or any other money center bank selected pursuant to this sentence) shall ever cease to exist or cease to announce a prime rate or base commercial lending rate, then the annual rate of interest from time to time announced by Citibank, N.A. (or by any other New York money center bank selected by the City) as its prime rate or base commercial lending rate.
Payment by the City. Administered through the City’s Event Services budget, the City of Kelowna will pay to Festivals Kelowna, during the Term of this agreement, an annual amount of $256,000 as a service fee for the delivery of the programs. This annual amount will be adjusted annually starting January 1, 2024, by the BC CPI Annual average for the prior calendar year to a maximum 5% annually. In any calendar year, should the CPI be a negative, no adjustment will occur. The annual amount will be payable in four installments on or before January 15, April 15, July 15, and October 15 of each year. In addition, the City will pay $14,000 annually for facility rent at Prospera Place on Canada Day.
Payment by the City. The City shall provide by payment a total amount not to exceed the amount set forth above for services provided in this Agreement.
