Common use of Interest on recalculations Clause in Contracts

Interest on recalculations. If the Technical Services Provider charges/credits the Operator with recalculations from a previous year, the Operator shall be charged/credited interest on these. The interest shall be calculated from the time it should have been charged/credited, or from 1 July of that year, until the time when the interest is charged/credited the Operator. The rate of interest shall be equal to the average of 3 months' NIBOR, based on a representative 3 months' average, ref. item 1.2.3, Alternative 1, but without any interest margin. Interest shall be recorded as a financial item in the monthly statements.

Interest on recalculations. If the Technical Services Provider charges/credits the Operator with provisional recalculations for this year and recalculations from a previous year, the Operator shall be charged/credited interest on these. The interest shall be calculated from the time it should have been charged/credited, or from 1 July of that year, until the time when the interest is charged/credited the Operator. The interest rate of interest shall be equal to the average of 3 months' NIBOR, based on a representative 3 months' average, ref. item article 1.2.3, Alternative 1, but without any interest margin. Interest shall be recorded as a financial item in the monthly statements.

Interest on recalculations. If the Technical Services Provider charges/credits the Operator with recalculations from a previous year, the Operator shall be charged/credited interest on these. The interest shall be calculated from the time it should have been charged/credited, or from 1 July of that year, until the time when the interest is charged/credited the Operator. The rate of interest shall be equal to the average of 3 months' ’ NIBOR, based on a representative 3 months' ’ Table of Contents average, ref. item point 1.2.3, Alternative 1, but without any interest margin. Interest shall be recorded as a financial item in the monthly statements.