Common use of Recomputation Clause in Contracts

Recomputation. No acceptance of any PEG Fee or License Fee payment by the Issuing Authority shall be construed as an accord and satisfaction that the amount paid is in fact the correct amount or a release of any claim that the Issuing Authority may have for further or additional sums payable under this Agreement, and all amounts paid shall be subject to audit and recomputation of the Issuing Authority. The audit period shall cover no more than the previous three (3) years. If the Issuing Authority has reason to believe that any such payment(s) are incorrect, the Licensee shall have thirty (30) business days after a request from the Issuing Authority to provide the Town with additional information documenting and verifying the accuracy of any such payment(s). In the event that the Issuing Authority does not believe that such documentation supports the accuracy of such payment(s), the Issuing Authority may conduct an audit of such payment(s). If, after such audit and re-computation, the Issuing Authority and Licensee agree that an additional fee is owed to the Town, such fee shall be paid within sixty (60) days after such audit and recomputation. In the event that any Franchise payment or recomputed payment is not made on or before the dates specified herein, Licensee shall pay an interest charge, computed from such due date, at the prime interest rate.

Recomputation. No (a) Tender or acceptance of any PEG Fee payment required by or License Fee payment by the Issuing Authority made pursuant to this Article 6, shall not be construed as an accord and satisfaction that the amount paid is in fact the correct amount or correct, nor shall such acceptance of payment be construed as a release of any claim that the Issuing Authority and/or the Access Corporation may have for further or additional sums including interest payable under this AgreementSection 6.6, and all except that the Licensee shall not be liable for any interest on any payment already tendered to the Access Corporation. All amounts paid shall be subject to audit and recomputation of by the Issuing Authority. The audit period Town which shall cover occur no more later than the previous three (3) years. years after such payment was tendered. (b) If the Issuing Authority has reason to believe and/or the Access Corporation reasonably believes that any such payment(s) are payment is incorrect, following written notice of such belief from the Issuing Authority, the Licensee shall have thirty ten (3010) business days after a request from to provide the Issuing Authority to provide the Town with additional information documenting and verifying the accuracy of any such payment(s)payment. In the event that the Issuing Authority does not reasonably believe that such documentation supports the accuracy of such payment(s)payment, the Issuing Authority may conduct an audit of such payment(s)payment. If, after such audit and re-computation, the Issuing Authority and Licensee agree that recomputations an additional fee is owed to the Town, such fee shall be paid within sixty thirty (6030) days after such audit and recomputationrecomputations. In If the event that any Franchise payment or recomputed payment discrepancy is not made on or before more than five percent (5%), the dates specified herein, Licensee shall pay an interest charge, computed from the entire cost of such due date, at the prime interest rateaudit.

Recomputation. No Tender or acceptance of any PEG Fee or License Fee payment by or on behalf of the Issuing Authority Licensee, including, but not limited to, payments pursuant to Sections of Articles 6, 7 and 8 of this Final License and Section 10.2 infra, shall not be construed as an accord and satisfaction that the amount paid is in fact the correct amount or correct, nor shall such acceptance of payment be construed as a release of any claim that the Issuing Authority Town or its designee may have for further or additional sums payable under this Agreement, and all sums. All amounts paid shall be subject to audit and recomputation of by the Issuing Authority. The audit period shall cover no more than the previous three (3) yearsTown. If the Issuing Authority has reason to believe that any such payment(s) are incorrect, the Licensee shall have thirty twenty (3020) business days after a request from the Issuing Authority to provide the Town with additional information documenting and verifying the accuracy of any such payment(s). In the event that the Issuing Authority does not believe that such documentation supports the accuracy of such payment(s), the Issuing Authority may shall conduct an audit of such payment(s). If, after such audit and re-computationrecomputation, the Issuing Authority and Licensee agree that an additional fee or payment is owed to the TownTown or its designee, such fee with interest thereon shall be paid within sixty thirty (6030) days after such audit and recomputation. In the event that any Franchise payment or recomputed payment is not made on or before the dates specified herein, The Licensee shall pay an contribute to the costs of such audit up to the amount determined by such audit to be due and payable. The interest chargeon such additional fees shall be charged from the due date during the period that such additional amount is owed. If after inspection, computed from the Licensee has overpaid, such due dateoverpayment shall be credited against the next payment to the Access Corporation, at the prime without interest ratecharges of any kind.