PROGRESS BILLINGS Sample Clauses
The PROGRESS BILLINGS clause establishes a system for periodic invoicing based on the completion of specific portions of work or project milestones. Under this clause, the contractor submits invoices at agreed intervals or upon reaching certain stages of the project, reflecting the value of work completed to date. This approach ensures that the contractor receives payment throughout the project rather than waiting until final completion, thereby supporting cash flow and reducing financial risk for both parties.
PROGRESS BILLINGS. The words "Progress Billings" mean a chain of ▇▇▇▇▇▇▇▇, usually following the percentage of completion method of measuring sale under a long-term contract in favor of Borrower (or to a third party grantor acceptable to Lender).
PROGRESS BILLINGS. Consultant may submit monthly progress ▇▇▇▇▇▇▇▇ against each Task Order issued for compensation and allowable reimbursable expenses. Consultant’s progress ▇▇▇▇▇▇▇▇ shall be billed on the basis of percent complete to date, subject to Owner’s approval. Consultant may not bill more often than once a month per Task Order. Consultant’s ▇▇▇▇▇▇▇▇ shall include a separate line item for reimbursable expenses, which shall be billed based on actual costs. The Task Order progress billing form shall include the Purchase Order Number, Master Agreement Number, Task Order Number, a unique invoice number, project name, the agreed sum to date, not to exceed reimbursable amount, previously billed amounts, current billing amount, percent complete and unbilled. Consultant ▇▇▇▇▇▇▇▇ will not be subject to retention or submission of waivers, liens or releases for payment. However, if Owner has any concerns at any time regarding Consultant's payment to any member of Consultant's Team, then Owner may require Consultant to submit statutory conditional lien releases from Consultant and Consultant's Team for all amounts represented on each progress ▇▇▇▇▇▇▇▇ and statutory unconditional lien releases for all amount previously paid to Consultant and Consultant's Team.