Payment of Operating and Maintenance Fee Sample Clauses

Payment of Operating and Maintenance Fee. Operator shall invoice the Owner for the Operating and Maintenance Fee for the immediately preceding month within 20 days of the 1st day of each month. Owner shall provide to Operator the necessary information required for calculation of the Load Factor within 15 days of the 1st day of each month. The Operating and Maintenance Fee shall be paid by Owner to Operator within 10 days of Owner's receipt of such invoice by wire transfer to an account to be designated by Operator. Should this Agreement terminate prior to the end of any month the Operating and Maintenance fee shall be prorated based upon the portion of the month in which the Agreement was in effect. If the Operating and Maintenance Fee is not paid when due, then interest shall accrue and be payable on such past due amount at the annual rate equal to the prime rate from time to time charged by Citibank, N.A., New York, New York to responsible and substantial commercial and industrial borrowers plus 2%, or the maximum rate permitted by applicable law, whichever is less (the "Past Due Rate"); provided, however, that such failure to pay is not the result of a bona fide dispute, in which event interest shall not be due except on the agreed amount due after resolution of such dispute. Such interest shall accrue beginning on the due date of such unpaid amount.
Sample 1
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Related to Payment of Operating and Maintenance Fee

  • MONITORING OF OPERATION AND MAINTENANCE 19.1 Monthly status reports During Operation Period, the Concessionaire shall, no later than 7 (seven) days after the close of each month, furnish to the Authority and the Independent Engineer a monthly report stating in reasonable detail the condition of the Bus Terminal including its compliance or otherwise with the Maintenance Requirements, Maintenance Manual, Maintenance Programme and Safety Requirements, and shall promptly give such other relevant information as may be required by the Independent Engineer. In particular, such report shall separately identify and state in reasonable detail the defects and deficiencies that require rectification.

  • Operating and Maintenance Costs The Participating Generator shall be responsible for all its costs incurred in connection with operating and maintaining the Generating Units identified in Schedule 1 for the purpose of meeting its obligations under this Agreement.

  • Operating and Maintenance Expenses Subject to the provisions herein addressing the use of facilities by others, and except for operations and maintenance expenses associated with modifications made for providing interconnection or transmission service to a third party and such third party pays for such expenses, the Interconnection Customer shall be responsible for all reasonable expenses including overheads, associated with: (1) owning, operating, maintaining, repairing, and replacing the Interconnection Customer’s Interconnection Facilities; and (2) operation, maintenance, repair and replacement of the Participating TO’s Interconnection Facilities.

  • Maintenance Fee The Maintenance Fee (SEE SCHEDULE - ACCUMULATION PERIOD) will be deducted during the Accumulation Period from the Account Value on each anniversary of the Account Effective Date and upon withdrawal of the entire Account.

  • Operation and Maintenance 17.1 O&M obligations of the Concessionaire

  • Maintenance Fees All maintenance and similar fees in respect of any Purchased Assets that are due and payable prior to the Closing have been paid in full.

  • Operation and Maintenance Manuals Receipts for transmittal of Operation and Maintenance Manuals, Brochures and Data to the Design Professional (or Commissioning Agent) as required by Section 6.1.1.5.

  • Operations and Maintenance Notice Each Party shall notify the other Parties in writing of the identity of the person(s) that it designates as the point(s) of contact with respect to the implementation of Articles 9 and 10.

  • Network Maintenance and Management 36.1 The Parties will work cooperatively to implement this Agreement. The Parties will exchange appropriate information (for example, maintenance contact numbers, network information, information required to comply with law enforcement and other security agencies of the Government, escalation processes, etc.) to achieve this desired result.

  • MAINTENANCE OF OPERATIONS The Company shall maintain operations at the Project for a minimum of ten (10) years beginning on the date the Project is Placed in Service. In addition to any other rights the Department may have under the terms of this Agreement, in the event that the Company discontinues of operations at the Project, such discontinuation may subject the Company to certain statutory provisions, including:

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