Payment of Contract Sum Sample Clauses

Payment of Contract Sum. Owner shall make full payment of the Contract Sum to Developer upon full execution of this Agreement by deposit in Developer’s parking deck construction account (the “Account”) held by State Bank and Trust Company. Draws from the Account shall be administered by State Bank and Trust Company pursuant to standard draw procedures established by Developer and State Bank. Except as expressly set forth herein, (i) if the cost of the Work exceeds the Contract Sum, Developer shall be responsible for such excess cost, and (ii) if the Contract Sum exceeds the cost of the Work, Developer shall retain all such excess. Notwithstanding the foregoing, in the event there are funds remaining in the “Contingency” line item of Developer’s budget for the Project after Final Completion, Developer agrees that Owner shall be entitled to seventy-five percent (75%) of such remaining funds in the “Contingency” line item; provided, however, that if the Project is complete to the extent that it can be used on April 10, 2018, in connection with “opening day” of the GreenJackets Stadium, Owner shall be entitled to only fifty percent (50%) of such remaining funds in the “Contingency” line item. Owner and Developer acknowledge that the “Contingency” line item in Developer’s budget totals $198,190.
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Payment of Contract Sum. 13.1 Where the Contract Sum is a fixed lump sum, the Council must pay the Contract Sum in accordance with Item 14 of the Schedule.
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Payment of Contract Sum. EPC Contractor shall submit payment applications on account of Services and Work performed consistent with the intervals for performance set forth in Schedule #6 (informed by the schedule of values set forth in Schedule #21) of this Agreement and otherwise monthly on account of other reimbursable costs and expenses as expressly provided in this Agreement. Each payment application shall include (i) a completed disbursement request, in the form of Schedule #16 attached hereto and (ii) the items listed in Schedule #17.
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Payment of Contract Sum. Owner shall make full payment of the Contract Sum to Developer upon full execution of this Agreement by deposit in Developer’s hotel and conference facility construction account (the “Account”) held by State Bank and Trust Company. Draws from the Account shall be administered by State Bank and Trust Company pursuant to standard draw procedures established by Developer and State Bank. Except as expressly set forth herein, (i) if the cost of the Work exceeds the Contract Sum, Developer shall be responsible for such excess cost, and (ii) if the Contract Sum exceeds the cost of the Work, Developer shall retain all such excess.
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Payment of Contract Sum. The Contractor shall pay or cause to be paid the Contract Sum to the Subcontractor in monthly progress payments. Applications for monthly progress payments shall be in writing and shall state the estimated percentage of the Work that has been satisfactorily completed and shall be submitted to contractor on or before the fifteenth (15) day of each month. Payments to Subcontractor shall be due seven (7) days from the time payment is received by the Contractor from the client. The Subcontractor agrees that, as a condition precedent to any payments hereunder, the Contractor shall be under no obligation to make any payments to the Subcontractor for materials delivered or for work performed by the Subcontractor unless and until the Contractor is first paid for such materials and work by the Owner.
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Payment of Contract Sum 
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Related to Payment of Contract Sum

  • Payment of Wages Wages will be paid weekly by electronic funds transfer (EFT). The employer shall comply with all provisions in relation to the keeping of time and wage records and production of pay slips in accordance with the Industrial Relations Xxx 0000. Each employee is responsible for the accurate and timely completion and provision of time sheets and production records.

  • Interest Subsidy and Special Allowance Payments and Rebate Fees The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • PAYMENT OF CLOSING COSTS In addition to the costs set forth in Paragraphs 3.1 and 3.2, Purchaser and Seller shall each pay for one-half of the costs of the documentary or transfer stamps to be paid with reference to the "Deed" (hereinafter defined) and all other stamps, intangible, transfer, documentary, recording, sales tax and surtax imposed by law with reference to any other sale documents delivered in connection with the sale of the Property to Purchaser and all other charges of the Title Insurer in connection with this transaction.

  • Final Payment All items or Automated Clearing House (ACH) transfers credited to your account are provisional until we receive final payment. If final payment is not received, we may charge your account for the amount of such items or ACH transfers and impose a return item charge on your account. Any collection fees we incur may be charged to your account. We reserve the right to refuse or return any item or funds transfer.

  • Reimbursement Payments The Department shall, to the extent funds are available, reimburse the Grantee for eligible claims presented for payment if the Department determines the requirements for reimbursement have been met. Claims under this Contract can only be made for the period this Contract is in effect. Reimbursement programs include the following:

  • Payment of Note Punctually pay or cause to be paid the principal of, interest on and all other amounts payable hereunder and under the Note in accordance with the terms thereof.

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