LNTP Payment definition
Examples of LNTP Payment in a sentence
Seller shall not issue more than one (1) invoice (or, following the assignment of the Agreement to the EPC Contractor, two (2) invoices) in any calendar month during the term of the Agreement; provided that Seller may issue two (2) invoices in November 2021 in connection with LNTP Payment Milestones.
Prior to the FNTP Date, Owner shall make payments to Contractor on account of the Contract Price in the amounts and at the times as provided in the Limited Notices to Proceed, if any, issued by Owner to Contractor; provided that in no event shall Owner’s liability to make payments to Contractor pursuant to a Limited Notice to Proceed exceed the Maximum LNTP Payment Amount as set forth in such Limited Notice to Proceed.
As a result, the Maximum LNTP Payment Amount for the February 2023 LNTP shall be revised to equal the February 2023 LNTP Extension Amount plus the aggregate amount of the February 2023 LNTP Current Invoices.