25% Progress Payment definition
25% Progress Payment means, for any System, the initial payment by Project Company of 25% of the purchase price for such System as contemplated by the MESPA.
Examples of 25% Progress Payment in a sentence
Payment shall occur as follows: 50% signing Agreement ($ ) 25% Progress Payment at 50% fabrication completion 15% Progress Payment at fabrication completion 10% upon completion and acceptance by the City ($ ) Invoices shall be submitted by Artist to the City for each payment and payment shall be made within 30 days of receipt.