Penalty for Underpayment Sample Clauses

Penalty for Underpayment. If as a result of an audit performed pursuant to Section 4.01, it is determined that Neoprobe has underpaid any payment due Kol by more than ***, in addition to remitting the amount of the underpayment as described in Section 4.02, Neoprobe shall pay Kol interest on such amount at the rate per annum of *** (interest changing as and when the *** changes); such interest being payable on demand together with all costs incurred by Kol to collect the amounts due hereunder, including, but not limited to, reasonable attorneys fees and disbursements. As used herein, the term "prime" refers to the prime rate of interest per annum announced, from time to time, by major money center banks in the United States and as published daily in The Wall Street Journal; provided, however, that if The Wall Street Journal should ever cease, for any reason, to publish such rate on a daily basis, then the Prime Rate shall be at the rate of interest designated and in effect from time to time, by Citibank, N.A., in New York, New York as its Prime Rate.
Sample 1
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Penalty for Underpayment. If as a result of an audit performed pursuant to Section 4.03, it is determined that Neoprobe has underpaid any payment due Cira xx more than ten percent (10%) of the amount which was due, in addition to remitting the amount of the underpayment as described in Section 4.03, Neoprobe shall pay Cira xxxerest on such amount at the rate per annum of "prime" (interest changing as and when the "prime" changes); such interest being payable on demand together with all costs incurred by Cira xxxlect the amounts due hereunder, including, but not limited to, the cost of the audit performed pursuant to Section 4.03, reasonable attorneys fees and disbursements. As used herein, the term "prime" refers to the prime rate of interest per annum announced, from time to time, by major money center banks in the United States and as published daily in The Wall Street Journal; provided, however, that if The Wall Street Journal should ever cease, for any reason, to publish such rate on a daily basis, then the Prime Rate shall be at the rate of interest designated and in effect from time to time, by Citibank, N.A., in New York, New York as its Prime Rate.
Sample 1
Penalty for Underpayment. If an audit reveals that a party has failed to pay any amount or portion of any amount due or payable under this Agreement and such amount is in excess of $20,000, the party being audited shall pay to the auditing party the full cost of the audit and the full amount due or payable plus interest at the rate of ten percent (10%) per annum from the date(s) of nonpayment. Article Eleven Protected Health Information
Sample 1

Related to Penalty for Underpayment

  • 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.

  • 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.

  • Late Payment Penalty If any portion of the principal of or interest on this Debenture shall not be paid within ten (10) days of when it is due, the Discount Multiplier under this Debenture shall decrease by one percentage point (1%) for all conversions of this Debenture thereafter.

  • Late Payment Timeliness of payment and any interest to be paid to Contractor for late payment shall be governed by Article 11-A of the State Finance Law to the extent required by law.

  • Late Payment Charge If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.

  • Payment of Fee The cash management fee referred to in Clause 9.1 (Fee Payable) shall only be payable to the Current Issuer Cash Manager on each Payment Date in the manner contemplated by, in accordance with and subject to the provisions of the Current Issuer Pre-Enforcement Revenue Priority of Payments or, as the case may be, the Current Issuer Post-Enforcement Priority of Payments.

  • Overpayments Contractor promptly shall refund to Purchaser the full amount of any erroneous payment or overpayment. Such refunds shall occur within thirty (30) calendar days of written notice to Contractor; Provided, however, that Purchaser shall have the right to elect to have either direct payments or written credit memos issued. If Contractor fails to make timely refunds of overpayment(s) (either directly or by credit memo), Contractor shall pay Purchaser interest at the rate of one percent (1%) per month on the amount overdue thirty (30) calendar days after notice to Contractor.

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