Disallowance of Payments Sample Clauses

Disallowance of Payments. If it is determined through audit, monitoring or other means that CONTRACTOR has received payments which are questioned by WWP, the CONTRACTOR shall be notified and given the opportunity to justify questioned payments prior to WWP’s final determination of disallowed payments. XXXXXXXXXX agrees to participate in and be bound by disallowed cost determinations arising out of WWP’s disallowed cost resolution process. If a Contract payment is disallowed, CONTRACTOR shall repay the full amount of the disallowance to WWP within thirty (30) calendar days of receipt of request, or other time schedule as determined by WWP. WWP’s failure to either discover or act upon a breach of this Agreement shall in no way relieve CONTRACTOR of its obligation to repay disallowed costs. If CONTRACTOR fails to comply with any of the requirements, terms, or conditions of this Agreement, WWP may, at its discretion, suspend, withhold, or disallow all or any portion of amounts otherwise payable under this Agreement
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Disallowance of Payments. If it is determined through audit or other means that the Subrecipient has received payments which are questioned under the criteria set forth herein, the Subrecipient shall be notified and given the opportunity to justify questioned payments prior to WSW’s final determination of disallowed payments. The Subrecipient agrees to participate in and be bound by disallowed cost determinations arising out of WSW’s disallowed cost resolution process. If a Contract payment is disallowed, Subrecipient shall repay the full amount of the disallowance to WSW within thirty (30) calendar days of receipt of request, or other time schedule as determined by WSW. WSW’s failure to either discover or act upon a breach of this Contract shall in no way relieve the Subrecipient of its obligation to repay disallowed costs. If the Subrecipient fails to comply with any of the requirements, terms, or conditions of this Contract, WSW may, at its discretion, suspend, withhold, or disallow all or any portion of amounts otherwise payable under this Contract.
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Disallowance of Payments. If any amount paid by the Prime Contractor to the Subcontractor is disallowed by the Client under the Prime Contract, then the Subcontractor shall, upon demand by the Prime Contractor, promptly repay to the Prime Contractor the disapproved amount. If the Prime Contractor is required, because of any action of the Government, to refund or credit to the Government any amount with respect to an item of cost for which the Prime Contractor has reimbursed the Subcontractor, the Subcontractor shall, upon demand by the Prime Contractor, promptly repay the disapproved amount. If, however, the Prime Contractor shall recover any disallowed amount, or part thereof, the Prime Contractor shall pay such allowable amount to the Subcontractor.
Sample 1

Related to Disallowance of Payments

  • Balance of Payments 1. Nothing in this Agreement shall be construed to prevent a Party from adopting or maintaining measures that restrict transfers where the Party experiences serious balance of payments difficulties, or the threat thereof, and such restrictions are consistent with this Article.

  • Issuance of Payments Payments shall be delivered as follows:

  • ALLOCATION OF PAYMENTS The Assignor and the Assignee agree that (i) the Assignor shall be entitled to any payments of principal with respect to the Assigned Interest made prior to the Assignment Date, together with any interest and fees with respect to the Assigned Interest accrued prior to the Assignment Date, (ii) the Assignee shall be entitled to any payments of principal with respect to the Assigned Interest made from and after the Assignment Date, together with any and all interest and fees with respect to the Assigned Interest accruing from and after the Assignment Date, and (iii) the Agent is authorized and instructed to allocate payments received by it for account of the Assignor and the Assignee as provided in the foregoing clauses. Each party hereto agrees that it will hold any interest, fees or other amounts that it may receive to which the other party hereto shall be entitled pursuant to the preceding sentence for account of such other party and pay, in like money and funds, any such amounts that it may receive to such other party promptly upon receipt.

  • Source of Payments All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company, however, unconditionally guarantees payment and provision of all amounts and benefits due hereunder to Executive and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

  • Sharing of Payments If, other than as expressly provided elsewhere herein (including, without limitation, in Section 10.07), any Lender shall obtain on account of the Loans made by it any payment (whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans made by them as shall be necessary to cause such purchasing Lender to share the excess payment in respect of such Loans or such participations, as the case may be, pro rata with each of them; provided that if all or any portion of such excess payment is thereafter recovered from the purchasing Lender under any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon. Borrower agrees that any Lender so purchasing a participation from another Lender may, to the fullest extent permitted by applicable Law, exercise all its rights of payment (including the right of setoff, but subject to Section 10.09) with respect to such participation as fully as if such Lender were the direct creditor of Borrower in the amount of such participation. Each Lender that purchases a participation pursuant to this Section 2.10 shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased.

  • Evidence of Payments As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

  • Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to Transactions entered into under this Agreement unless otherwise specified in a Confirmation.

  • Application of Payments Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect.

  • Termination of Payments Notwithstanding section 2.2, no payments shall be due to Purchaser afler Purchaser has received an aggregate amount under this Note, including payments made by the Company pursuant to section 2.3, equal to (i) the Principal Amount (as defined in the Investor Information Sheet above), multiplied by (ii) the Maximum Payment Multiple. We refer to the result of this multiplication as the “Maximum Payment Amount.”

  • Assurance of Payment 10.1 Upon request by AT&T-21STATE, CLEC will provide AT&T-21STATE with the AT&T-21STATE Credit Profile form and provide information to AT&T-21STATE regarding CLEC’s credit and financial condition.

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