Common use of Hourly Rate Clause in Contracts

Hourly Rate. (i) The amounts payable are computed by multiplying the appropriate hourly rate, or rates, set forth in the Contract, by the number of direct labor hours performed, which rates shall include wages, overhead, general and administrative expenses and profit. Fractional parts of an hour shall be payable on a prorated basis. Invoices may be submitted once each month (or at more frequent intervals if approved by the Buyer) to the Buyer or Buyer’s designee. The Seller will substantiate invoices by evidence of actual payment, individual daily job timecards, or such other substantiation approved by the Buyer. Promptly after receipt of each substantiated invoice, the Buyer shall, except as otherwise provided in this Contract, and subject to the provisions of subparagraph e. below, make payment thereon as approved by the Buyer.

Hourly Rate. (i) The amounts payable are computed by multiplying the appropriate hourly rate, or rates, set forth in the Contract, by the number of direct labor hours performed, which rates shall include wages, overhead, general and administrative expenses and profit. Fractional parts of an hour shall be payable on a prorated basis. Invoices may be submitted once each month (or at more frequent intervals if approved by the Buyer) to the Buyer or Buyer’s designee. The Seller will substantiate invoices by evidence of actual payment, individual daily job timecards, or such other substantiation approved by the Buyer. Promptly after receipt of each substantiated invoice, the Buyer shall, except as otherwise provided in this Contract, and subject to the provisions of subparagraph e. below, make payment thereon as approved by the Buyer.

Hourly Rate. (i) 1. The amounts payable are computed by multiplying the appropriate hourly rate, or rates, set forth in the Contractpurchase order, by the number of direct labor hours performed, which rates shall include wages, overhead, general and administrative expenses and profit. Fractional parts of an hour shall be payable on a prorated basis. Invoices may be submitted once each month (or at more frequent intervals if approved by the Buyer) to the Buyer or Buyer’s designee. The Seller will substantiate invoices by evidence of actual payment, individual daily job timecards, or such other substantiation approved by the Buyer. Promptly after receipt of each substantiated invoice, the Buyer shall, except as otherwise provided in this Contractcontract, and subject to the provisions of subparagraph e. (e) below, make payment thereon as approved by the Buyer.