Payment Schedule and Method Sample Clauses
Payment Schedule and Method. Subject to the requirements of Section 4.3 and Section 4.4, Owner shall pay the Contract Price to Seller, by wire transfer, as follows:
(a) A Reservation Payment not later than five (5) Business Days after the Effective Date in the amount of [* *] for the Wind Turbines for the Big Blue Windfarm Project.
(b) A Notice to Proceed Payment in the amount of [* *] for the Wind Turbines on or before May 7, 2007, subject to Seller’s delivery of the Certificate of Design Approval and subject to Seller and Buyer agreeing the Delivery Schedule, as set forth in Section 5.1.
(c) A Progress Payment in the amount of [* *] for the Wind Turbines not later than 60 days prior to the scheduled Delivery Date.
(d) A per-Wind Turbine Delivery Payment equal to forty percent (40%) of the Unit Price within five (5) Business Days after Seller’s delivery to the Designated Delivery Location of each item listed in the Delivery Schedule comprising such Wind Turbine.
(e) A per-Wind Turbine payment equal to fifteen percent (15%) of the Unit Price of a Wind Turbine within five (5) Business Days of Commissioning of each Wind Turbine.
(f) A Final Completion payment in the amount of [* *] for the Wind Turbines within five (5) Business Days of Final Completion.
Payment Schedule and Method. 5.1. Payment method
5.2. Payment schedule No. Instalment Amount Payment Schedule
Payment Schedule and Method. Owner shall be obligated to pay the Contract Price (including any increase or adjustment thereto) to Seller by wire transfer to such account as may be directed by Seller in writing at the following times in the installments indicated provided; however, that each installment shall be due within ten (10) Business Days following delivery of Seller's invoice for the same (with the exception of the Reservation Fee, as provided in Section 5.2.1 and 5.2.11 below) The Contract Price shall be the Contract Price of the Basic WTG Model as defined in Price Table in Section 5.1 unless Owner selects the different model of WTG: (For the purposes of Sections 5.2.1 through 5.2.10, all references to "Contract Price" shall be deemed to be references to the Contract Price for 2008 delivery units and all references to WTGs or components thereof shall be deemed to be references to the 2008 delivery units).