Quarterly Payment Cycles. For purposes of invoicing and payment, each Designated System shall be associated with one of the following payment cycles: Payment Cycle A: Invoices shall be due on the 10th of and payable on the last day of: January, April, July and October. Payment Cycle B: Invoices shall be due on the 10th of and payable on the last day of: February, May, August and November. Payment Cycle C: Invoices shall be due on the 10th of and payable on the last day of: March, June, September and December. Upon Energization of a Designated System, the IPA shall designate a Quarterly Payment Cycle to such Designated System and shall indicate such Quarterly Payment Cycle in Schedule B to the Product Order applicable to such Designated System. The IPA shall endeavor, on a commercially reasonable efforts basis, to designate for each Designated System a Quarterly Payment Cycle that includes a Quarterly Period that concludes on the month of Energization of the Designated System so that Seller may invoice and be paid for RECs associated with the Designated System in the month following the date of Energization. Notwithstanding, the IPA may in its reasonable discretion designate a Quarterly Payment Cycle that includes a Quarterly Period that concludes on the month following Energization.
Appears in 5 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
