Float Payment definition
Float Payment means an additional contract sum being an advance payment made by the Department to facilitate payment for any expenditure as described in clause 3.5.
Examples of Float Payment in a sentence
Seller hereby agrees to pay to Holdings, and Holdings hereby agrees to accept from Seller, $13,011,836 in immediately available funds on the Effective Date (such amount, the “Float True-Up Payment”) in full satisfaction of the amount of the Float Payment not previously paid to Holdings in respect of the period from applicable Closing Dates to and including the Effective Date.