Common use of Interest Provision Clause in Contracts

Interest Provision. The Parties further agree that, in addition to any amounts disallowed by audit to be repaid to SCDHHS in accordance with this Section VII.B.3, the Party required to make such payment shall pay interest on the amount required to be paid with said interest accruing from the thirtieth (30th) calendar day following the date of receipt by the audited party of the final audit report. The interest to be paid pursuant to this provision shall be at the current prime rate plus two percentage (2%) points as established on the thirtieth (30th) calendar day following the issuance of the final report.

Appears in 4 contracts

Samples: govlab.hks.harvard.edu, casesmartimpact.com, govlab.hks.harvard.edu

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