Infrastructure Payments definition
Examples of Infrastructure Payments in a sentence
This Contract does not obligate Utility Developer to undertake the Project, and it does not obligate the City to remit Reasonable Infrastructure Payments in the event the Project is not undertaken, or if the Project is not completed within a Reasonable Time Period for Completion.
The City shall pass through Reasonable Infrastructure Payments from Future Benefited Developments on a quarterly basis, commencing on the first day of the quarter following receipt of the Reimbursable Infrastructure Payment.
The City shall document on an ongoing basis the Reimbursable Costs, Reasonable Infrastructure Payments received, retainage, City payments made, yearly interest, deductions from Reimbursable Costs for City repairs or other costs pursuant to (b) above, and the remaining Adjusted Reimbursable Costs still to be paid and shall include such information with each quarterly payment to Utility Developer.
Notwithstanding these requirements, changes to the constructed Utility Improvements and to the Reasonable Infrastructure Payments can be made by the designated City employees described in the earlier sections of this Contract.
To the extent permitted by law, the City commits to pass through the Reasonable Infrastructure Payments received from Future Benefited Developers for payment of this Contract prior to payment of any other similar contracts in the Service Area until the obligations of this Contract have ended.
To reduce the number of transactions between the ACO and CMS, the amount of Infrastructure Payments owed will be added to any Shared Losses to be paid to CMS or deducted from any Shared Savings to be paid to the ACO, such that the ACO may owe CMS a payment despite earning Shared Savings.
If CMS rejects the ACO’s election to participate in Infrastructure Payments for a Performance Year (in accordance with Section X.C), the ACO will defer to traditional FFS, a non-alternative payment mechanism, for the Performance Year.
The ACO shall repay CMS all Infrastructure Payments amounts received during a Performance Year as Other Monies Owed at the Performance Year settlement or through settlement reports issued at such other times as may be required under this Agreement under Section XIV.
Settlement and repayment of Infrastructure Payments will occur in accordance with Section XIV of this Agreement.
UVM’s obligation to make any Participating Infrastructure Payments is expressly conditioned upon and subject to, (i) passage of the associated bond; (ii) the City obtaining any and all necessary approvals and financing associated therewith, and (iii) the City’s continuing substantial compliance with the terms of the City’s Ten-Year Capital Plan as projects may be amended from time to time.