Reducing of Payments Sample Clauses

Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District reserves the right to reduce promised payments for the Architectural Designer’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the Architectural Designer in writing of such failure and grant the Architectural Designer the opportunity to remedy same within fourteen (14) working days of said written notice. The School District may extend such remedial period, at its sole discretion, if there is evidence of the Architectural Designer’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the Architectural Designer. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the Architectural Designer, then the School District will pay the Architectural Designer a pro rata amount of the fee for the incomplete or incorrect or late submission.
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Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District reserves the right to reduce promised payments for the MEP Engineer’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the MEP Engineer in writing of such failure and grant the MEP Engineer the opportunity to remedy same within fourteen (14) working days of said written notice. The School District may extend such remedial period, at its sole discretion, if there is evidence of the MEP Engineer’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the MEP Engineer. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the MEP Engineer, then the School District will pay the MEP Engineer a pro rata amount of the fee for the incomplete or incorrect or late submission.
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Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District, after consultation with the Program Manager, reserves the right to reduce promised payments for the Design Professional’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the Design Professional in writing of such failure and grant the Design Professional the opportunity to remedy same within fourteen (14) working days of said written notice. The School District, after consultation with the Program Manager, may extend such remedial period, at its sole discretion, if there is evidence of the Design Professional’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the Design Professional, after consultation with the Program Manager. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the Design Professional, then the School District will pay the Design Professional a pro rata amount of the fee for the incomplete or incorrect or late submission.
Sample 1Sample 2
Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District, after consultation with the Program Manager, reserves the right to reduce promised payments for the Commissioning Agent’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the Commissioning Agent in writing of such failure and grant the Commissioning Agent the opportunity to remedy same within fourteen
Sample 1
Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District, after consultation with the Program Manager, reserves the right to reduce promised payments for the Construction Cost Consultant’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the Construction Cost Consultant in writing of such failure and grant the Construction Cost Consultant the opportunity to remedy same within fourteen (14) working days of said written notice. The School District, after consultation with the Program Manager, may extend such remedial period, at its sole discretion, if there is evidence of the Construction Cost Consultant’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the Construction Cost Consultant, after consultation with the Program Manager. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the Construction Cost Consultant, then the School District will pay the Construction Cost Consultant a pro rata amount of the fee for the incomplete or incorrect or late submission.
Sample 1
Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District reserves the right to reduce promised payments for the Design Professional’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the Design Professional in writing of such failure and grant the Design Professional the opportunity to remedy same within fourteen (14) working days of said written notice. The School District may extend such remedial period, at its sole discretion, if there is evidence of the Design Professional’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the Design Professional. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the Design Professional, then the School District will pay the Design Professional a pro rata amount of the fee for the incomplete or incorrect or late submission.
Sample 1
Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District, after consultation with the Program Manager, reserves the right to reduce promised payments for the Architectural Designer’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the Architectural Designer in writing of such failure and grant the Architectural Designer the opportunity to remedy same within fourteen (14) working days of said written notice. The School District, after consultation with the Program Manager, may extend such remedial period, at its sole discretion, if there is evidence of the Architectural Designer’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the Architectural Designer, after consultation with the Program Manager. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the Architectural Designer, then the School District will pay the Architectural Designer a pro rata amount of the fee for the incomplete or incorrect or late submission.
Sample 1
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Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District reserves the right to reduce promised payments for the Material Testing Consultant’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the Material Testing Consultant in writing of such failure and grant the Material Testing Consultant the opportunity to remedy same within fourteen (14) working days of said written notice. The School District may extend such remedial period, at its sole discretion, if there is evidence of the Material Testing Consultant’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the Material Testing Consultant. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the Material Testing Consultant, then the School District will pay the Material Testing Consultant a pro rata amount of the fee for the incomplete or incorrect or late submission.
Sample 1
Reducing of Payments. Notwithstanding any other payment terms or conditions to the contrary, the School District, after consultation with the Program Manager, reserves the right to reduce promised payments for the MEP & FP Engineer’s incomplete or incorrect or late submission of documents required under this Contract. However, before reducing payment under this Contract, the School District shall notify the MEP & FP Engineer in writing of such failure and grant the MEP & FP Engineer the opportunity to remedy same within fourteen (14) working days of said written notice. The School District, after consultation with the Program Manager, may extend such remedial period, at its sole discretion, if there is evidence of the MEP & FP Engineer’s good faith effort to remedy the failure. The School District, at its sole discretion, may accept an incomplete or incorrect or late submission of required documents from the MEP & FP Engineer, after consultation with the Program Manager. If the School District decides, at its sole discretion, to accept an incomplete or incorrect or late submission of required documents from the MEP & FP Engineer, then the School District will pay the MEP & FP Engineer a pro rata amount of the fee for the incomplete or incorrect or late submission.
Sample 1

Related to Reducing of Payments

  • Making of Payments Each payment by Borrower hereunder or under the Note shall be made in funds settled through the New York Clearing House Interbank Payments System or other funds immediately available to Lender by 1:00 p.m., New York City time, on the date such payment is due, to Lender by deposit to such account as Lender may designate by written notice to Borrower. Whenever any payment hereunder or under the Note shall be stated to be due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day.

  • Sharing of Payments Subject to Section 2.05(b)(v), if any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Lender hereunder and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to all Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations due and payable to all Lenders hereunder and under the other Loan Documents at such time obtained by all the Lenders at such time or (b) Obligations owing (but not due and payable) to such Lender hereunder and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing (but not due and payable) to such Lender at such time to (ii) the aggregate amount of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Parties at such time) of payment on account of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents at such time obtained by all of the Lenders at such time then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations and Swing Line Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of Obligations then due and payable to the Lenders or owing (but not due and payable) to the Lenders, as the case may be; provided that:

  • Timing of Payments All payments of Expenses (including without limitation Expense Advances) by the Company to the Indemnitee pursuant to this Agreement shall be made to the fullest extent permitted by law as soon as practicable after written demand by Indemnitee therefor is presented to the Company, but in no event later than thirty (30) business days after such written demand by Indemnitee is presented to the Company, except in the case of Expense Advances, which shall be made no later than ten (10) business days after such written demand by Indemnitee is presented to the Company.

  • Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to all Transactions (in each case starting from the date of this Agreement).

  • Reduction of Payments Any reduction under Subsection (b) above shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied on a pro rata basis to all such Payments. Subject to the foregoing rules, the Employee may elect, in the Employee’s sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall advise the Company in writing of the Employee’s election within 10 business days of receipt of notice. If no such election is made by the Employee within such 10-day period, then the Company may elect which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Employee promptly of such election. For purposes of this Section 3, a present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Accounting Firm under this Section 3 shall be binding upon the Company and the Employee and shall be made within 10 business days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Employee such amounts as are then due to the Employee and shall promptly pay or transfer to or for the benefit of the Employee in the future such amounts as become due to the Employee.

  • Sharing of Payments, Etc If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) on account of the Advance owing to it (other than pursuant to Section 2.09, 2.12 or 8.04(c)) in excess of its ratable share of payments on account of the Advances obtained by all the Lenders, such Lender shall forthwith purchase from the other Lenders such participations in the Advances owing to them as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery together with an amount equal to such Lender's ratable share (according to the proportion of (a) the amount of such Lender's required repayment to (b) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.13 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of setoff) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation.

  • Reallocation of Payments Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to Section 10.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined by the Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Swing Line Loan or Letter of Credit; fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.16(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

  • Collection of Payments Borrower authorizes Bank to collect all principal, interest and fees due under each credit created by the Loan Documents by charging Borrower’s deposit account number 4121261853 with Bank, or any other deposit account maintained by Borrower with Bank, for the full amount thereof. Should there be insufficient funds in any such deposit account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by Borrower.

  • Allocation of Payments The Assignor and the Assignee agree that (i) the Assignor shall be entitled to any payments of principal with respect to the Assigned Interest made prior to the Assignment Date, together with any interest and fees with respect to the Assigned Interest accrued prior to the Assignment Date, (ii) the Assignee shall be entitled to any payments of principal with respect to the Assigned Interest made from and after the Assignment Date, together with any and all interest and fees with respect to the Assigned Interest accruing from and after the Assignment Date, and (iii) the Agent is authorized and instructed to allocate payments received by it for account of the Assignor and the Assignee as provided in the foregoing clauses. Each party hereto agrees that it will hold any interest, fees or other amounts that it may receive to which the other party hereto shall be entitled pursuant to the preceding sentence for account of such other party and pay, in like money and funds, any such amounts that it may receive to such other party promptly upon receipt.

  • Limitation of Payments City’s obligation to pay the Consultant for services rendered pursuant to this Contract is conditioned upon the availability of City’s funds which are allocated to pay the Consultant. If funds are not allocated and available to pay the Consultant for these services, City may terminate this Contract at the end of the period for which the funds are available. City shall notify the Consultant at the earliest possible time if this agreement will or may be affected by a shortage of funds. No liability shall accrue to City in the event this provision is exercised, and the City shall not be obligated or liable for any future payments due or for any damages as a result of termination under this section. This provision shall not be construed so as to permit City to terminate this Contract in order to acquire similar services from another party. The Consultant shall be paid for any allowable services provided and expenses incurred prior to receipt of any such notification that City was terminating the Contract because of a shortage of funds.

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