Corrective Payments Sample Clauses
Corrective Payments. It is possible that after the calculations, conclusion and selections made pursuant to this Section 8 the Executive will receive Covered Payments that are in the aggregate more than the amount provided under this Section 8 (“Overpayment”) or less than the amount provided under this Section 8 (“Underpayment”).
(a) In the event that (i) the Accountants determine, based upon the assertion of a deficiency by the Internal Revenue Service against either the Company or the Executive which the Accountants believe has a high probability of success, that an Overpayment has been made, or (ii) it is established pursuant to a final determination of a court or an Internal Revenue Service proceeding that has been finally and conclusively resolved that an Overpayment has been made, then the Executive shall pay any such Overpayment to the Company, together with interest at the applicable federal rate (as defined in Code Section 7872(f)(2)(A)) from the date of the Executive’s receipt of the Overpayment until the date of repayment.
(b) In the event that (i) the Accountants, based upon controlling precedent or substantial authority, determine that an Underpayment has occurred, or (ii) a court of competent jurisdiction determines that an Underpayment has occurred, any such Underpayment will be paid promptly by the Company to or for the benefit of the Executive, together with interest at the applicable federal rate (as defined in Code Section 7872(f)(2)(A) of the Code) from the date the amount would have otherwise been paid to the Executive until the payment date.
Corrective Payments. By entering the corrected or amended account details into the ‘Corrective Payments’ section of the Subscriber Profile and Digitally Signing those details, the Subscriber:
(a) represents to ▇▇▇▇ that those corrected or amended account details are complete and correct in every particular; and
(b) authorises ▇▇▇▇ to provide a payment instruction containing those corrected or amended account details to the relevant financial institution. "Active Jurisdiction" means the jurisdiction or jurisdictions available to complete Conveyancing Transactions on the ELN as set out in the Service Charter. For a specific Conveyancing Transaction, it is the jurisdiction corresponding to the location of the land the subject of the Conveyancing Transaction.
Corrective Payments. Notwithstanding any other provisions of the Plan, excess matching contributions, plus any income and less any loss allocable thereto, as determined under Article 4.7, shall be paid or forfeited in a nondiscriminatory manner and in accordance with the following procedures:
(i) Excess matching and supplemental matching contributions shall be paid, if appropriate, to Participants for whom such contributions have been made during a Fiscal Year, or forfeited, if appropriate, no later than the last day of the succeeding Fiscal Year. If such matching contributions are not vested, they will be forfeited. If such matching contributions are vested, they will be paid to the Participant.
Corrective Payments. (a) In the event any Eligibility Representation or Tax Equity Representation made pursuant to this Agreement or in any certificate delivered in connection herewith shall prove to have been inaccurate in any respect as of the date such statement was made or certificate so provided, as applicable, and the Administrative Agent reasonably determines that such inaccuracy has or could reasonably be expected to result in a reduction of Actual Net Cash Flow in an amount of at least $[***] (the “Correction Payment”), within 10 Business Days of Borrower’s receipt of notice from the Administrative Agent or Borrower otherwise becoming aware thereof, (i) cause one or more Subject Funds to acquire Systems the aggregate expected net cash flow in respect of which, as set forth in an Advance Model to be delivered by the Borrower to the Administrative Agent, in form and substance satisfactory to the Administrative Agent, is at least equal to the Correction Payment or (ii) cause an Equity Contribution to be made to Borrower, the proceeds of which shall be in an amount at least equal to the Correction Payment.
(b) In the event a Borrower Subsidiary Party becomes subject to any event or circumstance described (with respect to any Loan Party) in Section 8.01(b), 8.01(c), 8.01(d), 8.01(f)(iii) or 8.01(j), after the expiration of any applicable cure periods set forth therein, cause an Equity Contribution to be made to Borrower within 10 Business Days, in an amount equal to the amount of Loans outstanding that were borrowed against the related Subject Fund.
(c) If the Borrower shall not have (i) within five Business Days of the Closing Date, obtained the [***] Tax Equity Required Consent and (ii) within ten Business Days of the Closing Date, delivered to the Administrative Agent an opinion, dated as of the date of the [***] Tax Equity Required Consent, of W▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ & R▇▇▇▇▇, counsel to the Loan Parties and SolarCity, as to the matters set forth in Section 5.08, and otherwise in form and substance reasonably acceptable to the Agents and each Lender, cause an Equity Contribution to be made to Borrower within five Business Days, in an amount equal to the amount of Loans outstanding that were borrowed against the related Subject Fund.
Corrective Payments. By entering the corrected or amended account details into the ‘Corrective Payments’ section of the Subscriber Profile and Digitally Signing those details, the Subscriber:
(a) represents to ▇▇▇▇ that those corrected or amended account details are complete and correct in every particular; and
(b) authorises ▇▇▇▇ to provide a payment instruction containing those corrected or amended account details to the relevant financial institution.
Corrective Payments. If BioMarin’s audit reveals that Hi-Tech has under-reported aggregate Net Sales to BioMarin, then:
(i) If the inaccuracy is [****], Hi-Tech shall refund to BioMarin all under-reported royalties upon Net Sales within [****] following completion of the audit; and
(ii) If the inaccuracy is [****], then Hi-Tech shall refund to BioMarin all under-reported royalties upon Net Sales, plus all reasonable costs of BioMarin’s audit, all within [****] following completion of the audit.