MPC Payment Methods Clause Samples

The "MPC Payment Methods" clause defines the acceptable forms and procedures for making payments under the agreement. It typically specifies which payment instruments or platforms are permitted, such as wire transfers, credit cards, or electronic payment systems, and may outline requirements for timing, currency, or account details. By clearly establishing how payments must be made, this clause helps prevent disputes over payment methods and ensures both parties understand their obligations, thereby facilitating smooth financial transactions.
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MPC Payment Methods. Customer may, at its option, elect to pay Customer’s Proportionate Share of MPC for a Project by one of the two following methods, to be selected on or before the date Operator begins construction work on a Project: (i) Customer may pay Operator the Customer’s Proportionate Share of the MPC in full upon completion of the applicable Project; or (ii) Customer may pay Customer’s Proportionate Share of MPC in Monthly installments (the “Project Cost Reimbursements” or “PCR”) pursuant to the following conditions: (1) The PCR payment obligation shall commence upon completion of the applicable Project, with the first PCR payment to be made in accordance with the first regular Monthly invoice delivered by Operator following completion of the Project. (2) The outstanding principal balance of Customer’s Proportionate Share of MPC shall bear interest at the lesser of a per annum rate of fifteen percent (15%) or the highest rate of interest (if any) permitted by Applicable Law, and shall be repaid in equal Monthly installments of principal and interest, with such payment to be based on the outstanding principal balance of Customer’s Proportionate Share of MPC amortized over (A) five (5) years, or (B) the number of years remaining in the Term, whichever time period is shorter; provided, however, that if this Agreement is terminated pursuant to Sections 4, 20, 21 or 28(a), then the remaining unpaid principal balance of Customer’s Proportionate Share of MPC will be due and payable pursuant to the following conditions: (I) If, upon termination of this Agreement, Operator has not replaced Customer’s Annual Minimum Throughput Volume with a new third-party take or pay commitment for use of the Wharf, then the remaining unpaid principal balance of Customer’s Proportionate Share of MPC will be due and payable by Customer upon the date of such termination. (II) Except as provided in subparagraph (III) below, if upon termination of this Agreement, Operator has replaced Customer’s Annual Minimum Throughput Volume with a new third-party take or pay commitment for use of the Wharf, then Customer’s remaining unpaid balance will be reduced by the percentage of Customer’s Annual Minimum Throughput Volume replaced by such new third party, up to a maximum of 100% of the remaining unpaid balance, with any remaining unpaid balance to be due and payable on the date of such termination. In other words, and by way of example only, if Operator replaces 9,125,000 Barrels per year of Annual Mini...
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Related to MPC Payment Methods

  • Payment Methods A. Except as otherwise provided by this Contract, the payment method will be one or more of the following:

  • Payment Method Payment shall be made by the Contractor to the Subcontractor as follows: (choose one) ☐ - Immediately upon completion of the Services to the satisfaction of the Contractor. ☐ - Within ____ business days after completion of the Services to the satisfaction of the Contractor. ☐ - Shall be paid on a ☐ weekly ☐ monthly ☐ quarterly ☐ other ______________________ basis. If the Subcontractor completes the Services to the satisfaction of the Contractor, before the full amount or balance has been fully paid, any remaining amount shall be payable immediately. ☐ - Other: ________________________________________________________

  • Payment Methodology The Grantee shall be reimbursed for actual, reasonable, and necessary costs based upon the Grant Budget, not to exceed the Maximum Liability established in Section 1. Upon progress toward the completion of the Scope, as described in Section A of this Grant Contract, the Grantee shall submit invoices prior to any reimbursement of allowable costs.

  • Payment Methods and Amounts There are limits on the amount of money you can send or receive through our Service. Your limits may be adjusted from time-to-time in our sole discretion. For certain Services, you may have the ability to log in to the Site to view your individual transaction limits. We or our Service Provider also reserve the right to select the method in which to remit funds on your behalf though the Service, and in the event that your Eligible Transaction Account is closed or otherwise unavailable to us the method to return funds to you. These payment methods may include, but may not be limited to, an electronic debit, a paper check drawn on the account of our Service Provider, or draft check drawn against your account.

  • Civil Penalty Payment Method ▇▇▇▇▇▇ shall pay the civil penalty by check, credit card, wire transfer, or portal, payable to CARB, using instructions provided separately by CARB in a Payment Transmittal Form. ▇▇▇▇▇▇ is responsible for all payment processing fees. Payments shall be accompanied by the Payment Transmittal Form to ensure proper application. CARB shall deposit the civil penalty amount into the Air Pollution Control Fund for the purpose of carrying out CARB’s duties and functions to ensure the integrity of its air pollution control programs. Should payment instructions change, CARB will provide notice to ▇▇▇▇▇▇ in accordance with Paragraph 12 (Notices).