Maximum Payment Schedule Sample Clauses
The Maximum Payment Schedule clause sets a cap on the total amount payable under a contract or agreement, ensuring that payments do not exceed a specified limit. In practice, this clause may outline a schedule of payments with defined maximum amounts for each installment or for the overall contract duration. By establishing clear financial boundaries, the clause helps prevent cost overruns and provides both parties with certainty regarding their financial obligations.
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Maximum Payment Schedule. The Project Schedule shall provide for payment to be made solely on the basis of progress by DB Contractor, subject to a cap on payments shown on the Maximum Payment Schedule established for the Project. The Maximum Payment Schedule shall not limit payment for Change Order Work unless otherwise specified in the Change Order. In other words, at no time shall DB Contractor’s cumulative total progress payments (including mobilization payments but exclusive of payments for Change Order Work) exceed the cumulative total expenditure permitted by the Maximum Payment Schedule. The Maximum Payment Schedule shall be calculated based on the monthly expenditure rate set forth in Exhibit 5 for the Project. If DB Contractor and TxDOT mutually agree in writing to a different expenditure rate at any time, then such revised rate shall thereafter be the Maximum Payment Schedule for the Project. The Maximum Payment Schedule shall be revised from time to time thereafter upon request by TxDOT or by DB Contractor on its own initiative, as appropriate to account for any changes in the Price as evidenced by Change Orders and/or amendments. The aggregate amount of progress payments to DB Contractor hereunder shall not exceed the amount allowed by the Maximum Payment Schedule at any time, exclusive of payments for Change Order Work, without the prior written approval of TxDOT, which approval may be withheld in its sole discretion.
Maximum Payment Schedule. The Maximum Payment Schedule for the Project is set forth in Exhibit 10 to this DBA.
Maximum Payment Schedule. The Project Schedule shall provide for payment to be made solely on the basis of progress by DB Contractor, subject to a cap on payments shown on the Maximum Payment Schedule established for the Project. The aggregate amount of progress payments to DB Contractor hereunder shall not exceed the amount allowed by the Maximum Payment Schedule at any time, exclusive of payments for Change Order Work, without the prior written approval of TxDOT, which approval may be withheld in its sole discretion. The Maximum Payment Schedule shall be calculated based on the monthly expenditure rate set forth in Exhibit 5 for the Project.
Maximum Payment Schedule. The Maximum Payment Schedule is set forth in Exhibit 10 to this DBA. Unless and until TxDOT issues a DWC NTP, the Maximum Payment Schedule shall be the schedule set forth in Exhibit 10-1. In the event TxDOT elects to exercise its right to issue a DWC NTP, the Price shall be increased by the DWC Price for each such DWC in accordance with Section 4.1 of this DBA. In such event, the Maximum Payment Schedule shall also be increased by adding the amounts set forth in the applicable DWC Maximum Payment Schedule set forth in Exhibit 10-2 to the corresponding months in the then current Maximum Payment Schedule. In such event, the payment for the last month of the Maximum Payment Schedule shall also be increased by adding the remaining amounts set forth in the applicable DWC Maximum Payment Schedule set forth in Exhibit 10-2 that come after the Substantial Completion Deadline. Upon such amendment thereof, all references to the Maximum Payment Schedule set forth in the Contract Documents shall mean the schedule as amended hereby. TxDOT shall have the right, but not the obligation, to prepare and deliver a revised Maximum Payment Schedule adjusted as described herein to incorporate the applicable DWC Price and related DWC Maximum Payment Schedule.
Maximum Payment Schedule. The Project Schedule shall provide for payment to be made solely on the basis of progress by Developer, subject to a cap on payments shown on the Maximum Payment Schedule established for the Project. The Maximum Payment Schedule shall not limit payment for Change Order Work unless otherwise specified in the Change Order. In other words, at no time shall Developer’s cumulative total progress payments (including mobilization payments but exclusive of payments for Change Order Work) exceed the cumulative total expenditure permitted by the Maximum Payment Schedule. The Maximum Payment Schedule shall be calculated based on the monthly expenditure rate set forth in Exhibit 5 for the Project. If Developer and TxDOT mutually agree in writing to a different expenditure rate at any time, then such revised rate shall thereafter be the Maximum Payment Schedule for the Project. The Maximum Payment Schedule shall be revised from time to time thereafter upon request by TxDOT or by Developer on its own initiative, as appropriate to account for any changes in the Price as evidenced by Change Orders and/or amendments. The aggregate amount of progress payments to Developer hereunder shall not exceed the amount allowed by the Maximum Payment Schedule at any time, exclusive of payments for Change Order Work, without the prior written approval of TxDOT, which approval may be withheld in its sole discretion.
Maximum Payment Schedule. The Project Schedule shall provide for payment to be made solely on the basis of progress by DB Contractor, subject to a cap on payments shown on the Maximum Payment Schedule established for the Project. The Maximum Payment Schedule shall not limit payment for Change Order Work unless otherwise specified in the Change Order. In other words, at no time shall DB Contractor’s cumulative total progress payments (including mobilization payments but exclusive of payments for Change Order Work) exceed the cumulative total expenditure permitted by the Maximum Payment Schedule. The Maximum Payment Schedule shall be calculated based on the monthly expenditure rate set forth in Exhibit 5 for the Project. If a Limited NTP2 is issued, the monthly expenditure rate in the Maximum Payment Curve will be adjusted to account for the early Work, as well as any Price adjustment made pursuant to Section 12.1.7.2 and any extension of Completion Deadlines made pursuant to Section 4.2.1.
Maximum Payment Schedule. The Project Schedule shall provide for payment of the Price to be made solely on the basis of progress by DB Contractor, subject to a cap on progress payments shown on the Maximum Payment Schedule established for each Segment of the Project. The Maximum Payment Schedule shall not limit payment for Compensable Utility Adjustment Costs or for Change Order Work unless otherwise specified in the Change Order. In other words, at no time shall DB Contractor’s cumulative total progress payments (including mobilization payments but exclusive of payments for Compensable Utility Adjustment Costs and Change Order Work) exceed the cumulative total expenditure permitted by the Maximum Payment Schedule for the applicable Segment. The Maximum Payment Schedule for Work authorized by NTPs shall be calculated based on the monthly expenditure rate set forth in Exhibit 5A (as such exhibit may be replaced by Exhibit 5C in accordance with Section 12.1.2) for Segment 1 and Exhibit 5B for Segment 2. The applicable Maximum Payment Schedule will be adjusted to account for any Price adjustment made pursuant to Section 12.1.7 or Section 12.1.8 and any extension of a Completion Deadline made pursuant to Section 4.2.1.2
Maximum Payment Schedule. DWC2 MAXIMUM PAYMENT SCHEDULE – DWC3
Maximum Payment Schedule. (Engineering Work and Site Preparation Work) See Attachment 3 to this Exhibit 3