Common use of QUARTERLY INCENTIVE PAYMENT AMOUNTS Clause in Contracts

QUARTERLY INCENTIVE PAYMENT AMOUNTS. (1) For each Satellite during its Orbital Design Life, a daily pro rata portion of the Quarterly Incentive Payment Amount shall be earned by Contractor on a daily basis during each calendar quarter for each day that such Satellite is a Satisfactorily Operating Satellite, provided that assessment and calculation of performance shall be performed at the end of each calendar month, and such earned portion of the Quarterly Incentive Payment Amount shall be invoiced on a quarterly-in-arrears basis, for, and as of the last day of, each calendar quarter. Contractor shall begin to earn Quarterly Incentive Payment Amounts upon Initial Handover of the Satellite to Customer.

QUARTERLY INCENTIVE PAYMENT AMOUNTS. (1) For each Satellite during its Orbital Design Life, a daily pro rata portion of the Quarterly Incentive Payment Amount shall be earned by Contractor on a daily basis during each calendar quarter for each day that such Satellite is a Satisfactorily Operating Satellite, provided that assessment and calculation of performance shall be performed at the end of each calendar month, and such earned portion of the Quarterly Incentive Payment Amount shall be invoiced on a quarterly-in-arrears basis, for, and as of the last day of, each calendar quarter. Contractor shall begin to earn Quarterly Incentive Payment Amounts upon Initial Handover of the Satellite to Customer.