Interim Payment of Disputed Monetary Amount Clause Samples
The "Interim Payment of Disputed Monetary Amount" clause requires that, even when a monetary amount is under dispute between parties, a portion or all of the disputed sum must be paid temporarily while the dispute is being resolved. Typically, this means that the paying party cannot withhold the entire amount in question, but must instead make an interim payment based on an agreed formula or the undisputed portion. This clause ensures that the recipient maintains cash flow and financial stability during the dispute process, reducing the risk of hardship or operational disruption while the final outcome is determined.
Interim Payment of Disputed Monetary Amount. In order to reduce the amount of liquidated damages that a Delinquent Member would be required to pay to the Company pursuant to Section 14.03 in the event that such Delinquent Member loses in an Arbitration Proceeding with respect to a Monetary Dispute, the Delinquent Member shall be permitted to pay the Company the related Disputed Monetary Amount prior to the commencement of such Arbitration Proceeding. The Arbitration Tribunal or Sole Arbitrator, as applicable, shall not take into consideration in determining the liability of the Delinquent Member, a decision by such Delinquent Member to pay the Disputed Monetary Amount prior to the commencement of the Arbitration Proceeding.