CIAC Payment Sample Clauses

The CIAC Payment clause establishes the obligation for a party, typically a customer or developer, to pay a Contribution in Aid of Construction (CIAC) to a utility or service provider. This payment covers the costs associated with constructing, upgrading, or extending infrastructure necessary to provide utility services, such as electricity or water, to a new development or facility. The clause details when and how the payment must be made, and may specify the calculation method or payment schedule. Its core function is to ensure that the financial responsibility for new infrastructure is clearly allocated, preventing disputes and ensuring timely project completion.
CIAC Payment. Customer agrees to compensate AEP Texas as a contribution in aid of construction for all costs that AEP Texas actually incurs in its performance of the Work, determined in accordance with AEP Texas’ standard accounting practices (the “CIAC Payment”). AEP Texas has indicated that the estimated cost2 of performing the Work, as outlined in Exhibit A, is Six Million Five Hundred Forty Nine Thousand Six Hundred Dollars ($6,549,600.00) which Customer acknowledges is reasonable. The CIAC Payment to be initially made by Customer to AEP Texas on the Effective Date of this Agreement is Two Million One Hundred Eighty Three Thousand Two Hundred Dollars ($2,183,200.00) based on the estimated cost of performing the Work, as shown in the attached Exhibit A. Exhibit A reflects only an estimate of the scope of the Work and the cost of performing the Work (including the estimated ITCC amount). Customer understands that the actual scope and cost of performing the Work may deviate from that shown in Exhibit A. Customer will retain the right to approve in writing any deviation in the scope or cost of performing the Work shown in Exhibit A if such deviation would result in a cost increase of twenty percent 1 All capitalized terms used in this Agreement, including the attached Exhibit A, but not defined have the meanings given to them in the Tariff, unless the context in which such terms are used clearly indicates otherwise. 2 As used in this Agreement, the term “cost” means all of AEP Texas’ expenses in performing the Work including, but not limited to, actual attorney’s fees associated with providing the service under this Agreement and all of AEP Texas’ fully embedded costs for labor, materials, and equipment (including all applicable overheads and taxes associated with Customer’s CIAC) as determined in accordance with AEP Texas’ standard accounting practices and Tariff. CIACs are taxable and “cost” shall include an Income Tax Component of Contribution (“ITCC”) at the current applicable rates, which are revised and published by AEP annually and are available upon request.
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Related to CIAC Payment

  • Interim payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ➢ an interim technical report in accordance with the instructions laid down in ▇▇▇▇▇ ▇; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • ▇▇▇▇▇▇▇▇▇ Payment The Company shall pay to you the following amounts: i. the Accrued Obligations, which shall be paid to you in a single lump sum cash payment within fifteen (15) calendar days of the Date of Termination; ii. the Pro Rata Bonus, which shall be paid to you in a single lump sum cash payment no later than the later of (A) fifteen (15) calendar days following the Date of Termination or (B) the effective date of the Waiver and Release; iii. an amount equal to the product of (A) 2.0 times (B) the sum of (1) your Adjusted Base Salary plus (2) the greater of (x) your Target Bonus or (y) the average of the annual bonuses paid or to be paid to you with respect to the immediately preceding three (3) fiscal years, which amount shall be paid to you in a single lump sum cash payment no later than the later of (i) fifteen (15) calendar days following the Date of Termination or (ii) the effective date of the Waiver and Release; iv. if you had previously consented to the Company’s request to relocate your principal place of employment more than forty (40) miles from its location immediately prior to the Change of Control, all unreimbursed relocation expenses incurred by you in accordance with the Company’s relocation policies, which expenses shall be paid to you in a single lump sum cash payment no later than the later of (A) fifteen (15) calendar days following the Date of Termination or (B) the effective date of the Waiver and Release; and v. the Other Benefits, which shall be paid in accordance with the then-existing terms and conditions of such plans, programs or policies.

  • Returned Payment Fee If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Billing & Payment 6.2.1 The Generator shall raise a monthly energy ▇▇▇▇ based on the joint meter reading taken by the Generator and the MSEDCL at the end of each month along with the monthly fuel usage certificate certified by the Chartered Account, in the forms annexed as Annexures (A to E). 6.2.2 The due date for the payment of ▇▇▇▇ by the MSEDCL shall be thirty (30) days from the date of receipt of the ▇▇▇▇ in Circle Office.