Companies Statement Sample Clauses
A Companies Statement clause serves to formally declare key facts or representations about the company or companies involved in an agreement. Typically, this clause outlines details such as the company's legal status, authority to enter into the contract, and compliance with relevant laws. By including these statements, the clause helps ensure that all parties are relying on accurate information about each company's capacity and legitimacy, thereby reducing the risk of disputes or misunderstandings regarding the parties' legal standing.
Companies Statement. Subject to Section 8.2, the Companies and each SSO Supplier shall pay all amounts due to each other hereunder in accordance with the following provisions:
(a) for each Billing Month, the Companies will prepare and provide an invoice to each SSO Supplier, which will show (i) amounts due to the SSO Supplier equal to the Price multiplied by the applicable Seasonal Billing Factor multiplied by the PMEA, (ii) the PMEA/FMEA Adjustment from such Billing Month, if any, and (iii) all Charges due to the Companies incurred during the Billing Month (the “Statement”). The Companies will determine the total amount payable by one Party to the other Party by netting the aggregate amounts due and owing to one Party against the aggregate amounts due and owing to the other Party, with the Party, if any, owing the greater aggregate amount paying the other Party the difference between the amounts owed. For any amounts due and owing the Companies, the Companies will specify in each Statement how the amounts will be allocated among the Companies. In the case of the PMEA/FMEA Adjustment, the allocation will be based on the respective SSO Loads of the Companies.
(b) The Statement will be sent to each SSO Supplier within six (6) Business Days after the end of the Billing Month as provided in Section 13.1.
(c) The Companies or the SSO Supplier, as the case may be, will make payment on the first (1st) Business Day after the nineteenth (19th) day of each calendar month.
(d) All payments shall be subject to adjustment for any arithmetic errors, computation errors, or other errors, provided that the errors become known within one (1) year of the earlier of (i) end of the Term or (ii) the Early Termination Date.
(e) The Companies or the SSO Supplier, as the case may be, shall make payments of funds by electronic transfer to a bank designated by the Companies and the SSO Supplier, as applicable.
(f) If a good faith dispute arises between the Companies and the SSO Supplier regarding a Statement, the disputing Party shall be obligated to pay only the undisputed portion of the Statement, if any, and shall present the dispute in writing and submit supporting documentation to the non-disputing Party within one hundred twenty (120) calendar days from the date of the Statement in dispute. Statement disputes must be addressed promptly, and in accordance with the dispute resolution procedures set forth in Article 10. Upon resolution of a Statement dispute, any payments made to either Party will in...
Companies Statement. Subject to Section 8.2, the Companies and each SSO Supplier shall pay all amounts due to each other hereunder in accordance with the following provisions:
(a) for each Billing Month, the Companies will prepare and provide an invoice to each SSO Supplier, which will show (i) amounts due to the SSO Supplier equal to the Price multiplied by the applicable Seasonal Billing Factor multiplied by the PMEA, (ii) the PMEA/FMEA Adjustment from such Billing Month, if any, and (iii) all Charges due to the Companies incurred during the Billing Month (the “Statement”). The Companies will determine the total amount payable by one Party to the other Party by netting the aggregate amounts due and owing to one Party against the aggregate amounts due and owing to the other Party, with the Party, if any, owing the greater aggregate amount paying the other Party the difference between the amounts owed. For any amounts due and owing the Companies, the Companies will specify in each Statement how the amounts will be allocated among the Companies. In the case of the PMEA/FMEA Adjustment, the allocation will be based on the respective SSO Loads of the Companies.
(b) The Statement will be sent to each SSO Supplier within six (6) Business Days after the end of the Billing Month as provided in Section 13.1.
Companies Statement. Subject to Section 8.2, the Companies and each SSO Supplier shall pay all amounts due to each other hereunder in accordance with the following provisions: