Post Payment Audit Sample Clauses

Post Payment Audit. It is an agreed term of contract that the Railway reserves to itself the right to carry out a post-payment audit and/ or technical examination of the works and the Final Bill including all supporting vouchers, abstracts etc. and to make a claim on the Contractor for the refund of any excess amount paid to him till the release of security deposit or settlement of claims, whichever is later, if as a result of such examination any over-payment to him is discovered to have been made in respect of any works done or alleged to have been done by him under the contract.
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Post Payment Audit. Costco (or a designated affiliate) reserves the right to conduct post payment audits of Supplier. In most cases, post payment audits take place within three years of either a singular transaction or the completion of a contractual program. If an audit indicates noncompliance with transaction or contractual requirements, Costco reserves the right to extend the audit time frame beyond three years. Supplier agrees to provide supporting documentation and related information upon Costco’s request.
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Post Payment Audit. If as a result of any Action by a Governmental Authority the aggregate Actual Unit Sale Taxes is determined pursuant to a “final determination” within the meaning of Section 1313(a) of the Code to differ from the amount set forth in the Final Tax Adjustment Statement resulting in a corresponding increase or decrease in the Tax Adjustment Amount contained in such statement (“Modified Tax Adjustment Amount”), HTA Holdings or the Charity, as applicable, shall promptly notify Buyer in writing of the amount of such Actual Unit Sale Taxes and any Modified Tax Adjustment Amount. Within five (5) Business Days of receipt of such notice, Buyer shall pay to the HTA Holdings Owners or the Charity, as applicable, the amount of the excess of the Modified Tax Adjustment Amount over the Tax Adjustment Amount contained in the Final Tax Adjustment Statement and the HTA Holdings Owners or the Charity, as applicable, shall pay to Buyer the excess of the Tax Adjustment amount contained in the Final Tax Adjustment Statement over the Modified Tax Adjustment Amount and any interest, penalties or other costs assessed by the Governmental Authority. Notwithstanding any other provision to the contrary in this Agreement (including this Section 6.7(e)), the obligations of the HTA Holdings Owners or the Charity, as applicable, and Buyer to make any payment to the other Party with respect to the Tax Adjustment Amount or the Modified Tax Adjustment Amount shall expire on the fourth anniversary of the Closing Date (other than (I) with respect to any Action commenced by the applicable Governmental Authority on or prior to such fourth anniversary of the Closing Date provided that the Buyer has received written notice of such Action on or prior to such date and (II) with respect to an assessment described in Schedule 6.7(e)(II) of the Disclosure Schedules (such an assessment, a “Tax Assessment”), which obligations will survive until the statute of limitations on such Tax Assessment has expired, plus 60 days.)
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Post Payment Audit. Packaging will conduct post-payment auditing of expense reports and associated receipt packages pursuant to mutually agreed upon performance documentation standards. Packaging will notify Tenneco employees and the designated Tenneco management representative of violations to the performance documentation standards and follow-up with the Tenneco employees to assure compliance.
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Post Payment Audit. (a) It is an agreed term of Agreement that Authority reserves to itself the right to carry out a post-payment audit and/or technical examination of the Developer’s claim including all supporting details, and to make a claim on the Developer for the refund of any excess amount paid to him if as a result of such examination any over-payment to him is discovered to have been made in respect of Termination Payment, Substitution Payment or terminal value under the Agreement. Invocation of Performance Guarantees
Sample 1
Post Payment Audit. 4.1 The Owner reserves the right to carry out a post payment audit and/or technical examination of the work, and the final xxxx, including all supporting voucher abstracts etc., and to enforce recovery, if any, found as a result of such examination, any over payment if discovered in respect of work done and/or alleged to be have been done by the O&M Partner under the Contract, and such recovery will be made by the Owner, using any or all of the methods or modes prescribed herein. If, on the other hand, any under payment is discovered, the amount shall be duly paid to the O&M Partner by the Owner. Further, the Owner reserves the right to make such recoveries and adjustments notwithstanding the fact that the amount of the final xxxx may be included by one of the parties as an item of dispute. Further, unless the O&M Partner pays and clears the claims of the Owner immediately on demand, the Owner shall at all times be entitled to deduct the sum due from the O&M Partner from its xxxx, or from the security deposit amount, which may have become payable or will become payable to the O&M Partner under these presents or under any other contract or transaction whatsoever between the O&M Partner and the Owner.
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Related to Post Payment Audit

  • Interest Payment and Computation Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter commencing December 31, 2011; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto, and if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

  • First Payment As of the Cut-off Date, the related Obligor has made the initial payment on such Receivable.

  • Interest Payment For each Interest Payment Date the amount of interest due with respect to the Class A(2017-3) Notes shall be an amount equal to

  • Deferrals of Interest Payment Dates (a) So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Security, to defer the payment of interest on the Securities for a period of up to twenty (20) consecutive quarterly interest payment periods (each such period, an “Extension Period”), during which Extension Period(s), the Company shall have the right to make no payments or partial payments of interest on any Interest Payment Date (except any Additional Tax Sums that otherwise may be due and payable). No Extension Period shall end on a date other than an Interest Payment Date and no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. No interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during such Extension Period shall bear Additional Interest (to the extent payment of such interest would be legally enforceable) at a variable rate per annum, reset quarterly, equal to LIBOR plus 2.65%, compounded quarterly, from the dates on which amounts would have otherwise been due and payable until paid or until funds for the payment thereof have been made available for payment. At the end of any such Extension Period, the Company shall pay all interest then accrued and unpaid on the Securities together with such Additional Interest. Prior to the termination of any such Extension Period, the Company may extend such Extension Period and further defer the payment of interest; provided, that (i) all such previous and further extensions comprising such Extension Period do not exceed twenty (20) quarterly interest payment periods, (ii) no Extension Period shall end on a date other than an Interest Payment Date and (iii) no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest then due on any Interest Payment Date, the Company may elect to begin a new Extension Period; provided, that (i) such Extension Period does not exceed twenty (20) quarterly interest payment periods, (ii) no Extension Period shall end on a date other than an Interest Payment Date and (iii) no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. The Company shall give the Holders of the Securities and the Trustee written notice of its election to begin any such Extension Period at least one Business Day prior to the next succeeding Interest Payment Date on which interest on the Securities would be payable but for such deferral or, so long as any Securities are held by the Trust, at least one Business Day prior to the earlier of (i) the next succeeding date on which Distributions on the Preferred Securities of such Trust would be payable but for such deferral and (ii) the date on which the Property Trustee of such Trust is required to give notice to any securities exchange or other applicable self-regulatory organization or to holders of such Preferred Securities of the record date for the payment of such Distributions.

  • Interest Payment Dates Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Termination Date; provided that (i) interest accrued pursuant to Section 3.02(c) shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than an optional prepayment of an ABR Loan prior to the Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.

  • Interest Payment Date 5 Maturity................................................... 5

  • Compensating Interest Payments The amount of the aggregate Master Servicing Fees payable to the Master Servicer in respect of any Distribution Date shall be reduced (but not below zero) by the amount of any Compensating Interest Payment for such Distribution Date, but only to the extent that Prepayment Interest Shortfalls relating to such Distribution Date are required to be paid but not actually paid by the Servicers. Such amount shall not be treated as an Advance and shall not be reimbursable to the Master Servicer.

  • Interest Payments Unless otherwise specified on the face hereof, the Interest Payment Dates will be, in the case of a Floating Rate Note which resets: (1) daily, weekly or monthly—the fifteenth day of each calendar month or on the fifteenth day of March, June, September and December of each year, as specified on the face hereof; (2) quarterly—the fifteenth day of March, June, September and December of each year; (3) semi-annually—the fifteenth day of the two months of each year specified on the face hereof; and (4) annually—the fifteenth day of the month of each year as specified on the face hereof. In addition, the Maturity Date will also be an Interest Payment Date. If any Interest Payment Date other than the Maturity Date for this Floating Rate Note would otherwise be a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day, except that in the case of a Floating Rate Note as to which LIBOR is an applicable Interest Rate Basis and that Business Day falls in the next succeeding calendar month, the particular Interest Payment Date will be the immediately preceding Business Day. If the Maturity Date of a Floating Rate Note falls on a day that is not a Business Day, the Trust will make the required payment of principal, premium, if any, and interest or other amounts on the next succeeding Business Day, and no additional interest will accrue in respect of the payment made on that next succeeding Business Day.

  • Extension of Interest Payment Period The Company shall have the right, at any time and from time to time during the term of the Debentures so long as no Event of Default has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date or end on a date other than an Interest Payment Date. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period so long as no Event of Default has occurred and is continuing, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

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