Common use of CIF Payment Clause in Contracts

CIF Payment. Vendor shall deposit INSERT CIF PERCENT FEE into a separate CIF account. i. The CIF Payment shall be deposited into the respective CIF account annually not later than May 31st of each year. The payment period is based on the prior CY. ii. In the event of termination or expiration of this Agreement, all funds remaining in the Annual Capital Improvement Fund shall become property of DNREC. iii. In the event the License Term is extended as provided herein, the CIF Payment may be negotiated but shall not be less than INSERT CIF PERCENT FEE of Gross Receipts for the Venue.

CIF Payment. Vendor shall deposit INSERT CIF PERCENT FEE into a separate CIF account. i. a) The CIF Payment shall be deposited into the respective CIF account annually not later than May 31st of each year. The payment period is based on the prior CY. ii. b) In the event of termination or expiration of this Agreement, all funds remaining in the Annual Capital Improvement Fund shall become property of DNREC. iii. c) In the event the License Term is extended as provided herein, the CIF Payment may be negotiated but shall not be less than INSERT CIF PERCENT FEE of Gross Receipts for the Venue.