Fees and Interest if Underpayment Discovered by Audit Sample Clauses

Fees and Interest if Underpayment Discovered by Audit. If, as a result of the audit performed under Article 14 herein, additional fees are due from the Contractor to the Authority, the Contractor shall immediately pay to the Authority such additional fees, together with interest on the amount of such additional fees at the rate specified herein from the date such additional fees should have been paid. Further, if the audit establishes that the Contractor has understated and underpaid fees by three percent (3%) or more for any Contract year, then the entire expense of such audit, whether internal or external, shall be paid by the Contractor.
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Fees and Interest if Underpayment Discovered by Audit. If, as a result of the audit performed under this Section 5.05, it is established that additional concession percentage fees are due from the Contractor to the Authority, the Contractor shall immediately, upon written demand from the Authority, pay to the Authority such additional concession percentage fees, together with interest on the amount of such additional fees at the rate specified in Section 5.01(a)(10)(iii) herein from the date such additional fees should have been paid. Further, if such audit establishes that the Contractor has understated and underpaid fees for any Contract Year by three percent (3%) or more, then the entire expense of such audit, whether internal or external, shall be paid by the Contractor.
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Fees and Interest if Underpayment Discovered by Audit. If, as a result of the audit performed under this Section herein, it is established that additional fees are due from the Contractor to the Airports Authority, the Contractor shall immediately, upon written demand from the Airports Authority, pay to the Airports Authority such additional fees, together with interest on the amount of such additional fees at the rate specified in Section 5.01 C. herein from the date such additional fees should have been paid. Further, if such audit establishes that the Contractor has understated and underpaid fees for any Contract Year by three percent (3%) or more, then the entire expense of such audit, whether internal or external, shall be paid by the Contractor.
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Fees and Interest if Underpayment Discovered by Audit. If, as a result of the audit, it is established that additional payments are due from the Contractor to the Authority, the Contractor shall immediately, upon written demand from the Authority, pay to the Authority such additional payments, together with interest on the amount of such additional payments at the rate specified in Article V.E. herein from the date such additional payments should have been paid. Further, if such audit establishes that the Contractor has understated the Gross Receipts for any Contract Year by one half of one percent (0.5%) or more, then the entire expense of such audit, whether internal or external, shall be paid by the Contractor.
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Fees and Interest if Underpayment Discovered by Audit. If, as a result of the audit performed under Article V(J) additional fees are due from the Contractor to the Airports Authority, the Contractor shall immediately pay to the Airports Authority such additional fees, together with interest on the amount of such additional fees at the rate of six percent (6%) from the date such additional fees should have been paid. Further, if the audit establishes that the Contractor has understated and underpaid fees by five percent (5%) or more for any Contract year, then the entire expense of such audit, whether internal or external, shall be paid by the Contractor.
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Fees and Interest if Underpayment Discovered by Audit. If, as a result of the audit performed under this Section 3.7, it is established that additional concession percentage fees are due from the Tenant to the Landlord, the Tenant shall immediately, upon written demand from the Landlord, pay to the Landlord such additional concession percentage fees. Further, if such audit establishes that the Tenant has understated and underpaid fees for any Contract Year by three percent (3%) or more, then the entire expense of such audit, whether internal or external, shall be paid by the Tenant.
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Related to Fees and Interest if Underpayment Discovered by Audit

  • Underpayment In the event of a change which results in an underpayment to an employee, the employee shall be properly compensated on or before the next possible paycheck following discovery of the error. Upon request, the District shall provide the employee with specific written explanation for the underpayment through the Payroll Contact Person at the employee’s location.

  • OVERPAYMENT OF PURCHASES OR UNDERPAYMENT OF FEES Without limiting any other remedy available to any Purchaser, Contractor shall (a) reimburse Purchasers for any overpayments inconsistent with the terms of this Master Contract or orders, at a rate of 125% of such overpayments, found as a result of the examination of the Contractor’s records; and

  • Underpayments a. In the event the employee does not receive the wages or benefits to which the record/documentation has for all times indicated the employer agreed the employee was entitled, the Agency shall notify the employee in writing of the underpayment. This notification will include information showing that an underpayment exists and the amount of wages and/or benefits to be repaid. The Agency shall correct any such underpayment made within a maximum period of two (2) years before the notification.

  • Overpayments and Underpayments As a result of the uncertainty in the application of Section 280G of the Code, it is possible that Agreement Payments may have been made by the Company which should not have been made ("Overpayment") or that additional Agreement Payments which will have not been made by HUBCO could have been made ("Underpayment"), in each case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Certified Public Accountants, based upon the assertion of a deficiency by the Internal Revenue Service against HUBCO or Executive which said Certified Public Accountants believe has a high probability of success, determines that an Overpayment has been made, any such Overpayment shall be treated for all purposes as a loan to Executive which Executive shall repay to HUBCO together with interest at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code; provided, however, that no amount shall be payable by Executive to HUBCO in and to the extent such payment would not reduce the amount which is subject to taxation under Section 4999 of the Code. In the event that the Certified Public Accountants, based upon controlling precedent, determine that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive together with interest at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code.

  • Overpayment Provider shall be liable to the GLO for any costs disallowed pursuant to financial and/or compliance audit(s) of funds received under this Contract. Provider shall reimburse such disallowed costs from funds other than those that Provider received under this Contract. Provider must refund disallowed costs and overpayments of funds received under this Contract to the GLO within 30 days after the GLO issues notice of overpayment to Provider.

  • Repayment of Overpayments a. If, at any time, Rehab identifies any Overpayment, Rehab shall repay the Overpayment to the appropriate payor (e.g., Medicare contractor) within 60 days after identification of the Overpayment and take remedial steps within 90 days after identification (or such additional time as may be agreed to by the payor) to correct the problem, including preventing the underlying problem and the Overpayment from recurring. If not yet quantified, within 60 days after identification, Rehab shall notify the payor of its efforts to quantify the Overpayment amount along with a schedule of when such work is expected to be completed. Notification and repayment to the payor shall be done in accordance with the payor’s policies.

  • Payment Disputes We will not exercise Our rights under Section 6.3 (Overdue Charges) or 6.4 (Suspension of Service and Acceleration) above if You are disputing the applicable charges reasonably and in good faith and are cooperating diligently to resolve the dispute.

  • Payment Audit Records of costs incurred under terms of the Contract will be maintained in accordance with section 8.3 of these Special Contract Conditions. Records of costs incurred will include the Contractor’s general accounting records, together with supporting documents and records of the Contractor and all subcontractors performing work, and all other records of the Contractor and subcontractors considered necessary by the Department, the State of Florida’s Chief Financial Officer, or the Office of the Auditor General.

  • Disagreement on Decision Should the parties disagree as to the meaning of the Board's decision, either party may apply to the Chairperson of the Board of Arbitration to reconvene the Board to clarify the decision, which it shall do within five (5) days.

  • Audit Dispute In the event of a dispute with respect to any audit under Section 4.11, AstraZeneca and Licensee shall work in good faith to resolve the disagreement. If the Parties are unable to reach a mutually acceptable resolution of any such dispute within [* * *] days, the dispute shall be submitted for resolution to a certified public accounting firm jointly selected by each Party’s certified public accountants or to such other Person as the Parties shall mutually agree (the “Auditor”). The decision of the Auditor shall be final and the costs of such arbitration as well as the initial audit shall be borne between the Parties in such manner as the Auditor shall determine. Not later than [* * *] days after such decision and in accordance with such decision, Licensee shall pay the additional amounts, with interest from the date originally due as provided in Section 4.9 or AstraZeneca shall reimburse the excess payments, as applicable.

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