Common use of Payment by T&D Clause in Contracts

Payment by T&D. (a) The T&D shall pay the amount stated in any invoice from Seller upon the later of (i) ten (10) days of the date appearing on the invoice or (ii) the 25th day of the month in which the invoice is received by T&D (“Due Date”), or if the T&D in good faith objects to all or a portion of the invoice, the T&D shall on or before the Due Date, (i) pay the undisputed portion of the invoice and (ii) provide an itemized statement of its objections setting forth in reasonable detail the basis for its objections. If the T&D does not object prior to the Due Date, the T&D shall be obligated to pay the full amount of such invoice, but the T&D may subsequently object to such invoice and, if such objection proves to be correct, receive a refund of the disputed amount, plus interest (calculated using the Dispute Interest Rate set forth in Section 4.2.4(b)) from the date of T&D’s original payment through the date of Seller’s refund payment. The right to dispute or object to an invoice, shall, subject to the time limitation provided in this Section 4.2.4(a), survive the expiration or termination of this Agreement. Payments shall be made by electronic funds transfer to an account designated by Seller in the invoice or in a notice delivered to the Seller.

Payment by T&D. (a) The T&D shall pay the amount stated in any invoice from Seller upon the later of (i) ten (10) days of the date appearing on the invoice or (ii) the 25th day of the month in which the invoice is received by T&D (“Due Date”), or if the T&D in good faith objects to all or a portion of the invoice, the T&D shall on or before the Due Date, (i) pay the undisputed portion of the invoice and (ii) provide an itemized statement of its objections setting forth in reasonable detail the basis for its objections. If the T&D does not object prior to the Due Date, the T&D shall be obligated to pay the full amount of such invoice, but the T&D may subsequently object to such invoice and, if such objection proves to be correct, receive a refund of the disputed amount, plus interest (calculated using the Dispute Interest Rate set forth in Section 4.2.4(b4.2.3(b)) from the date of T&D’s original payment through the date of Seller’s refund payment. The right to dispute or object to an invoice, shall, subject to the time limitation provided in this Section 4.2.4(a4.2.3(a), survive the expiration or termination of this Agreement. Payments shall be made by electronic funds transfer to an account designated by Seller in the invoice or in a notice delivered to the Seller.

Payment by T&D. (a) The T&D shall pay the amount stated in any invoice from Seller upon the later of (i) ten (10) days of the date appearing on the invoice or (ii) the twenty-fifth (25th ) day of the month in which the invoice is received by T&D (“Due Date”), or if the T&D in good faith objects to all or a portion of the invoice, the T&D shall on or before the Due Date, (i) pay the undisputed portion of the invoice and (ii) provide an itemized statement of its objections setting forth in reasonable detail the basis for its objections. If the T&D does not object prior to the Due Date, the T&D shall be obligated to pay the full amount of such invoice, but the T&D may subsequently object to such invoice and, if such objection proves to be correct, receive a refund of the disputed amount, plus interest (calculated using the Dispute Interest Rate set forth in Section 4.2.4(b4.2.3(b)) from the date of T&D’s original payment through the date of Seller’s refund payment. If T&D does not object to an invoice within twenty-four (24) months of the date of the invoice, such invoice shall be binding upon the T&D and Seller and not subject to challenge by either Party. The right to dispute or object to an invoice, shall, subject to the time limitation provided in this Section 4.2.4(a4.2.3(a), survive the expiration or termination of this Agreement. Payments shall be made by electronic funds transfer to an account designated by Seller in the invoice or in a notice delivered to the Seller.

Payment by T&D. (a) The T&D shall pay the amount stated in any invoice from Seller upon the later of of: (i) ten (10) days of after the date appearing on which the invoice is received by the T&D; or (ii) the twenty-fifth (25th ) day of the month in which the invoice is received by T&D (“Due Date”), or . But if the T&D in good faith objects to all or a portion of the invoice, the T&D shall on or before the Due Date, : (i) pay the undisputed portion of the invoice invoice; and (ii) provide an itemized statement of its objections setting forth in reasonable detail the basis for its objections. If the T&D does not object prior to the Due Date, the T&D shall be obligated to pay the full amount of such invoice, but the T&D may subsequently object to such invoice and, if such objection proves to be correct, receive a refund of the disputed amount, plus interest (calculated using the Dispute Interest Rate set forth in Section 4.2.4(b4.2.3(b)) from the date of T&D’s original payment through the date of Seller’s refund payment. If T&D does not object to an invoice within six (6) months of the date of the invoice, such invoice shall be binding upon the T&D and Seller and not subject to challenge by either Party. The right to dispute or object to an invoice, shall, subject to the time limitation provided in this Section 4.2.4(a4.2.3(a), survive the expiration or termination of this Agreement. Payments shall be made by electronic funds transfer to an account designated by Seller in the invoice or in a notice delivered to the Seller.. [Quarterly payment provisions will be included in the case of Seller providing RECs]

Payment by T&D. (a) The T&D shall pay the amount stated in any invoice from Seller subject to the availability of sufficient funds in the Cost Recovery Fund. If sufficient funds are not available in the Cost Recovery Fund, invoiced amounts shall be treated in accordance with Section 4.1.3(e). If sufficient funds are available in the Cost Recovery Fund, T&D shall pay Seller upon the later of (i) ten (10) days of the date appearing on the invoice or (ii) the twenty-fifth (25th ) day of the month in which the invoice is received by T&D (“Due Date”), or if the T&D in good faith objects to all or a portion of the invoice, the T&D shall on or before the Due Date, (i) pay the undisputed portion of the invoice and (ii) provide an itemized statement of its objections setting forth in reasonable detail the basis for its objections. If the T&D does not object prior to the Due Date, the T&D shall be obligated to pay the full amount of such invoice, but the T&D may subsequently object to such invoice and, if such objection proves to be correct, receive a refund of the disputed amount, plus interest (calculated using the Dispute Interest Rate set forth in Section 4.2.4(b4.1.3(b)) from the date of T&D’s original payment through the date of Seller’s refund payment. If T&D does not object to an invoice within twenty-four (24) months of the date of the invoice, such invoice shall be binding upon the T&D and Seller and not subject to challenge by either Party. The right to dispute or object to an invoice, shall, subject to the time limitation provided in this Section 4.2.4(a4.1.3(a), survive the expiration or termination of this Agreement. Payments shall be made by electronic funds transfer to an account designated by Seller in the invoice or in a notice delivered to the Seller.