On Hold Backlog Payment definition

On Hold Backlog Payment shall have the meaning specified in Section 2.9(a)(ii).
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On Hold Backlog Payment shall be equal to fifty-five percent (55%) of the aggregate dollar value of Services to be provided under such written contract and set forth opposite such written contract on Schedule 2.9(a)(ii). The Unsigned Backlog Payments and the On Hold Backlog Payments shall collectively be referred to as “Additional Backlog Payments.”
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Examples of On Hold Backlog Payment in a sentence

  • Notwithstanding the foregoing, if neither Party’s computation of the applicable Unsigned Backlog Payment or On Hold Backlog Payment is within twenty percent (20%) of the amount of the Unsigned Backlog Payment or On Hold Backlog Payment, as applicable, as finally determined by the Additional Backlog Payment Arbitrator, then each Party shall be responsible for its fees and costs for the arbitration process.

  • For purposes of this Section 2.9(c), the prevailing Party shall be deemed to be the Party whose computation of the applicable Unsigned Backlog Payment or On Hold Backlog Payment as submitted to the Additional Backlog Payment Arbitrator is closest to the amount of the Unsigned Backlog Payment or On Hold Backlog Payment, as applicable, as finally determined by the Additional Backlog Payment Arbitrator.

  • In the event that the Covance Parties disagree with the computation of any Unsigned Backlog Payment or On Hold Backlog Payment, the Covance Parties shall provide written notice of their objections thereto, which notice shall state the basis of the Covance Parties’ objections in reasonable detail (an “Additional Backlog Payment Dispute Notice”) within thirty (30) days after receipt of a Monthly Backlog Notice by the Covance Parties.