Common use of Overcharge Clause in Contracts

Overcharge. If, as a result of an audit regarding State Street’s charges, it is determined that State Street has overcharged a BTC Recipient, such BTC Recipient will notify State Street of the overcharged amount and State Street will promptly pay to such BTC Recipient such amount, plus interest at the prevailing Federal Funds rate, calculated from the date of State Street’s receipt of the overcharged amount until the date of payment to such BTC Recipient. If any such audit reveals an undercharge to State Street of five percent (5%) or more of the annual service charges for the period audited, the BTC Recipient will notify State Street and pay such undercharge, without interest, within thirty (30) days of discovery of such undercharge. If any such audit reveals an overcharge to a BTC Recipient of five percent (5%) or more of the annual service charges for the period audited, State Street will, at the option of such BTC Recipient, issue to such BTC Recipient a credit (including such interest) against the charges and reimburse such BTC Recipient for the reasonable out-of-pocket expenses of such audit relating to such charges.

Overcharge. If, as a result of an audit regarding State Street’s 's charges, it is determined that State Street has overcharged a BTC BGI Recipient, such BTC BGI Recipient will notify State Street of the overcharged amount and State Street will promptly pay to such BTC BGI Recipient such amount, plus interest at the prevailing Federal Funds rate, calculated from the date of State Street’s 's receipt of the overcharged amount until the date of payment to such BTC BGI Recipient. If any such audit reveals an undercharge to State Street of five percent (5%) or more of the annual service charges for the period audited, the BTC BGI Recipient will notify State Street and pay such undercharge, without interest, within thirty (30) days of discovery of such undercharge. If any such audit reveals an overcharge to a BTC BGI Recipient of five percent (5%) or more of the annual service charges for the period audited, State Street will, at the option of such BTC BGI Recipient, issue to such BTC BGI Recipient a credit (including such interest) against the charges and reimburse such BTC BGI Recipient for the reasonable out-of-pocket expenses of such audit relating to such charges.

Overcharge. If, as a result of an audit regarding State Street’s 's charges, it is determined that State Street has overcharged a BTC Recipient, such BTC Recipient will notify State Street of the overcharged amount and State Street will promptly pay to such BTC Recipient such amount, plus interest at the prevailing Federal Funds rate, calculated from the date of State Street’s 's receipt of the overcharged amount until the date of payment to such BTC Recipient. If any such audit reveals an undercharge to State Street of five percent (5%) or more of the annual service charges for the period audited, the BTC Recipient will notify State Street and pay such undercharge, without interest, within thirty (30) days of discovery of such undercharge. If any such audit reveals an overcharge to a BTC Recipient of five percent (5%) or more of the annual service charges for the period audited, State Street will, at the option of such BTC Recipient, issue to such BTC Recipient a credit (including such interest) against the charges and reimburse such BTC Recipient for the reasonable out-of-pocket expenses of such audit relating to such charges.. Master Services Agreement 33 BTC | State Street