RMR Payment definition
Examples of RMR Payment in a sentence
Attached Exhibit F contains an estimated timeline for settlement of RMR Payment and Market Payment amounts as specified in Sections 12.1, 12.2, 12.3, and 12.4 of this Agreement.
Within five (5) Business Days after receipt of Seller’s statement Buyer or Seller, as applicable, shall render, by wire transfer, the amount set forth on such statement for payments due under the RMR Agreements (“RMR Payment”) or payments due under the Tariff (“Market Payment”), or payments due under Buyer’s Monthly Charges and Buyer’s Monthly Credits that are not otherwise included in the RMR Payment or Market Payment to the payment address provided in Exhibit D hereto.
Subsequent RMR Payments, regarding each successive twelve-month period, shall be due on each anniversary date of the Initial RMR Payment.
The Term of this Agreement shall be five (5) years from the Effective Date (the “Term”), provided however Section 1 of this Agreement shall survive until the fifth annual RMR Payment has been remitted to the Town.
The initial RMR Payment, less the aforementioned one- time payment of one hundred thousand dollars ($100,000) regarding the first twelve months of operations, shall be due on the first day of the fourteenth (14th) month.