Provider Payment Due Date definition
Examples of Provider Payment Due Date in a sentence
Any amounts not paid when due pursuant to Sections 8.3 and/or 8.4 above, shall be deemed delinquent and shall then accrue interest from the Provider Payment Due Date or the T&D Payment Due Date, as the case may be, to the date of payment, at the per annum rate of interest equal to the prime lending rate, as published in The Wall Street Journal on the date of determination (or if not published on such date, on the most recent preceding day on which such rate shall be published), plus two percent (2%).
The Provider shall issue payment to the T&D’s financial institution designated by T&D or on such invoice upon the later of (i) ten (10) days of the date appearing on the invoice or (ii) the twenty-fifth (25th) day of the month in which the invoice is received by the Provider (the "Provider Payment Due Date").
In the event that the scheduled Provider Payment Due Date falls on a weekend or holiday, the transfer shall be completed on the next Business Day.
In the event an erroneous amount is transferred, a transaction to correct the error shall be processed on the next Provider Payment Due Date.