Common use of Margin Inaccuracy Clause in Contracts

Margin Inaccuracy. If any annual audited financial statements delivered under Clause 19.4 (Financial Statements) demonstrate that the Margin: (a) should have been varied in accordance with Clause 6.5 (Margin Adjustment) when it has not been; or (b) should not have been varied in accordance with Clause 6.5 (Margin Adjustment) when it has been, in either case by reason of an inaccuracy in the Relevant Monthly Management Accounts, payments of interest shall following receipt of the relevant audited financial statements by the Facility Agent be adjusted by such amount as the Facility Agent shall determine is necessary to give effect to the correct variation in the Margin as demonstrated by the audited accounts. The Facility Agent’s determination of the adjustments payable under this Clause 6.6 shall be prima facie evidence of such adjustments and the Facility Agent shall provide Bidco with reasonable details of the calculation of such adjustments.

Margin Inaccuracy. If any annual audited financial statements delivered under Clause 19.4 (Financial Statements) demonstrate that the Margin: (a) should have been varied in accordance with Clause 6.5 (Margin Adjustment) when it has not been; or (b) should not have been varied in accordance with Clause 6.5 (Margin Adjustment) when it has been, in either case by reason of an inaccuracy in the Relevant Monthly Quarterly Management Accounts, payments of interest shall following receipt of the relevant audited financial statements by the Facility Agent be adjusted by such amount as the Facility Agent shall determine is necessary to give effect to the correct variation in the Margin as demonstrated by the audited accounts. The Facility Agent’s determination of the adjustments payable under this Clause 6.6 shall be prima facie evidence of such adjustments and the Facility Agent shall provide Bidco with reasonable details of the calculation of such adjustments.