Common use of Fixed Component Clause in Contracts

Fixed Component. Between the 1st and 5th day of each month after the month in which the Full Notice to Proceed occurs, Contractor shall submit to Owner an Application for Payment filled out and signed by Contractor. Each Application for Payment for the Fixed Component shall describe (a) all Milestones completed, the sum of all prior payments in respect of the Fixed Component made by Owner to Contractor through the last day of the prior month, (b) the amount of the Fixed Component owed to Contractor based upon the completed Milestones and the Milestone Payment Schedule attached hereto as Appendix G (the “Milestone Payment Schedule”) and an updated Milestone Payment Schedule, reflecting payments made, (c) the Fixed Component amount for any agreed Change Order Work performed stating specifically the Work performed and the Change Order supporting the payment and (d) any amount due in respect of the Fixed Component for which payment was withheld from an earlier payment and where the cause for such withholding no longer applies.