Common use of Under Payment Clause in Contracts

Under Payment. If any Audit discloses that the Participant has under-paid APFs to ▇▇▇▇, such under-payment and the Participant shall be subject to the applicable Rules and Policies. Without in any way limiting the foregoing, in such event, where the amount of the under-payment, for any period, exceeds the greater of either (i) two percent (2%) of the Participant’s total APF payment obligations or (ii) five hundred dollars ($500), then on the written request of ▇▇▇▇, the Participant shall pay to ▇▇▇▇ within thirty (30) days of such written request, the additional APFs due. ▇▇▇▇ reserves the right to apply interest and/or administrative fees for under-payments in accordance with the Rules and Policies.

Under Payment. If any Audit discloses that the Participant has under-paid APFs to ▇▇▇▇, such under-payment and the Participant shall be subject to the applicable Rules and Policies. Without in any way limiting the foregoing, in such event, where the amount of the under-payment, for any period, exceeds the greater of either (i) two percent (2%) of the Participant’s total APF payment obligations or (ii) five hundred dollars ($500), then on the written request of ▇▇▇▇, the Participant shall pay to ▇▇▇▇ within thirty (30) days of such written request, the additional APFs due. ▇▇▇▇ MARR reserves the right to apply interest and/or administrative fees for under-payments in accordance with the Rules and Policies.