Discrepancy Correction Sample Clauses
A Discrepancy Correction clause establishes a process for identifying and resolving inconsistencies or errors within a contract or between related documents. Typically, this clause outlines the steps parties must take if they discover conflicting terms, such as notifying the other party and referring to a hierarchy of documents or seeking clarification from a designated authority. Its core practical function is to ensure that ambiguities or mistakes do not lead to disputes or misunderstandings, thereby promoting clarity and smooth contract administration.
Discrepancy Correction. Following completion of the Inspection (evidenced by Sellers receipt of a written report of Discrepancies) Seller, at Seller’s expense, will cause the correction of Discrepancies.
Discrepancy Correction. If, during the course of any audit, Owner or its employees or appointees discover weaknesses in internal control or errors in record keeping, Manager shall correct such discrepancies either upon delivery or within a reasonable period of time. Manager shall inform Owner of the action taken to correct such audit discrepancies.
Discrepancy Correction. Financial Settlement. Any discrepancies found during the inspections set forth in Section 6.10 above which are not corrected by Lessee prior to return of the Aircraft to Lessor may be corrected by Lessor or its designee after return of the Aircraft and Lessee shall reimburse Lessor for all costs and expenses incurred by Lessor or its designee for accomplishing such discrepancy corrections. Lessee shall pay Lessor for all such costs and expenses incurred within ten (10) days of the date of Lessor's invoice therefor. Any late payments shall be subject to interest at the Overdue Payment Rate. In the event that the time since overhaul or check for the Airframe, any Engine, Appliance or component Part thereof on the Return Date is less than set forth above, Lessee shall pay Lessor a financial settlement to account for the difference based upon (1) the then current interval between such overhaul, check, or inspection prescribed by Lessee's Approved Maintenance Program (provided that such interval shall not be greater than on the Delivery Date), and (2) the then current cost to perform such overhaul or check established by averaging the cost estimates for such overhaul or check by three Aviation Authority-certified repair stations selected by Lessee and reasonably acceptable to Lessor. In no event shall the time since overhaul or check for the Airframe, any Engine, Appliance or component Part thereof exceed the minimums set fort herein. Lessor shall not be obligated to compensate Lessee in the event that the Aircraft is in better condition on the Return Date than required hereunder.