Common use of Payment for Completed Work Clause in Contracts

Payment for Completed Work. In full discharge of any obligations to Vendor in respect of termination by MTCC in accordance with this Contract, MTCC shall pay for all Services properly performed up to the date of termination, on a pro-rated basis. Any progress or other payments previously made on account of such Services shall be credited against the amounts payable for such Services, and in the event such pre-payments exceed the amounts payable hereunder for such Services, the excess shall be promptly returned to MTCC.

Payment for Completed Work. In full discharge of any obligations to Vendor in respect of termination by MTCC in accordance with this Contract, MTCC shall pay for all Services properly performed up to the date of termination, on a pro-rated basis. Any progress or other payments previously made on account of such Services (“Pre-payments”) shall be credited against the amounts payable for such Services, and in the event such prePre-payments exceed the amounts payable hereunder for such Services, the excess shall be promptly returned to MTCC.