TIMES FOR PAYMENT Clause Samples

TIMES FOR PAYMENT. (1) Except as provided in paragraphs (2), (3) and (4) below, payment of the severance benefits provided under this section shall be paid on the first day of the seventh month following the date of the Termination Event; (2) Payment of the severance benefits provided under this section shall be paid within 30 days after the date of the Termination Event to the extent the amount paid does not exceed the amount of payments that would be excepted from the six-month delay rule of paragraph (1) above under:

TIMES FOR PAYMENT a. The CITY will pay or cause to be paid to the ▇▇▇▇ that portion of the GMP, properly allocable to services, labor, materials and equipment already incorporated in the work that has been satisfactorily performed in accordance with the requirements of the Construction Documents, and as determined and appropriately documented in the PROJECT records by the ENGINEER. b. The ▇▇▇▇ shall prepare a complete application for progress payment package and submit it to the CITY REPRESENTATIVE for certification by the CITY once a month. c. The application for payment package shall include the application for payment, work in place, ▇▇▇▇ invoices substantiating work in place, and all lien waivers for the preceding month’s application for payment and Notice to Owner issued to the CITY the preceding month. If the package is missing any above mentioned component, it shall be considered incomplete and returned to the ▇▇▇▇ to complete. d. If the application for payment package is complete, the CITY will certify work in place and the application for payment will be approved by the CITY REPRESENTATIVE. The CITY REPRESENTATIVE shall submit the package to the CITY’s Procurement Division. With reference to the prompt payment terms, the receipt date for calculating days for payment shall begin on the date the CITY receives a complete application for payment package from the ▇▇▇▇. e. The CITY will issue payment directly to the ▇▇▇▇ no later than the next check payment processing date after receipt of complete application for payment package. f. The ▇▇▇▇ shall pay each Trade Contractor within ten (10) working days upon receipt of payment from the CITY out of the amount paid to the ▇▇▇▇ for the Trade Contractor’s work, the amount to which said Trade Contractor is entitled, reflecting the percentage actually retained, if any, from payments to the ▇▇▇▇ for such Trade Contractor’s work. g. Neither the CITY nor the ENGINEER shall have any obligations to pay or to see to the payment of any monies to any Trade Contractors, except as may otherwise be required by law. h. No certificates for a progress payment, nor any progress payment, nor any partial or entire use or occupancy of the PROJECT by the CITY shall constitute an acceptance of any work not in accordance with the Construction Documents. i. All applications for payment shall be on a form provided by the CITY.

TIMES FOR PAYMENT. All payments must be paid at the times provided for in this Contract or, where no time for payment is provided for, upon demand.

TIMES FOR PAYMENT. A. The County will pay or cause to be paid to the CM that portion of the GMP, properly allocable to services, labor, materials and equipment already incorporated or to be incorporated in the work that has been satisfactorily performed in accordance with the requirements of the Construction Documents. B. The CM shall process each Trade Contractor payment within seven (7) working days upon receipt of payment from the County out of the amount paid to the CM for the Trade Contractor's work, the amount to which said Trade Contractor is entitled, reflecting the percentage actually retained, if any, from payments to the CM for such Trade Contractor's work. C. The CM’s and the Trade Contractor's notices, claims and lien waivers are to be submitted with the current month's application for payment and no additional payments will be made by the County without lien waivers for the preceding month's application for payment, unless the surety consents to payment as provided by law. D. The County shall not have any obligations to pay or to see to the payment of any monies to any Trade Contractors except as may otherwise be required by law. E. No certificates for a progress payment, nor any progress payment, shall constitute an acceptance of any work not in accordance with the Construction Documents. Such payments shall not constitute acceptance that the work was performed in accordance with the Agreement requirements.

TIMES FOR PAYMENT. The payments referred to in Sub-clause 4.1 shall be made as follows: (a) the sum of forty-two million dollars ($42 million) referred to in Sub-clause 4.1 (a) on the Commencement Date by 11.00 A.M; and (b) the payments referred to in Sub-clause 4.1 (b) at the times set out in Column 4 of Schedule A or within seven (7) days after receipt by the Bank of an invoice under Sub-clause 4.2, whichever is the later.

TIMES FOR PAYMENT. The Pledgor hereby undertakes to pay to the Banks all of the Secured Amounts and any part of them, precisely and at the times for payment established and which will be established from time to time.

TIMES FOR PAYMENT. (1) Except as provided in paragraphs (2), (3) and (4) below, payment of the severance benefits provided under this section shall be paid on the first day of the seventh month following the date of the Termination Event; (2) Payment of the severance benefits provided under this section shall be paid within 30 days after the date of the Termination Event to the extent the amount paid does not exceed the amount of payments that would be excepted from the six-month delay rule of paragraph (1) above under: (A) Treas. Reg. § 1.409A-1(b)(9)(iii) (relating to payment upon involuntary separation of service of up to two times the lesser of an employee’s annual rate of compensation or the Code § 401(a)(17) limit on includible compensation for qualified plans); and/or (B) Treas. Reg. § 1.409A-1(b)(9)(v) (relating to payments of certain reimbursements, medical benefits, in-kind benefits and other limited payments not exceeding the Code § 402(g)(1) limit on elective deferrals); The Company, in its sole discretion, shall determine the amount of the severance benefit payable under this paragraph and shall notify the Executive of the amount payable promptly after that amount is determined; (3) The COBRA premiums under subsection (d) above will be paid as due under the terms of the applicable group health plan; and (4) Outplacement services under subsection (f) above will be paid as billed by the service provider.