Acceptance of Payment and Recomputation Clause Samples

Acceptance of Payment and Recomputation. No acceptance of any payment shall be construed as an accord by Grantor that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim Grantor may have for further or additional sums payable or for the performance of any other obligation of Grantee.

Acceptance of Payment and Recomputation. No acceptance of any payment pursuant to Section 7.1 or Section 12.1 of this Franchise shall be construed as an accord that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable. All amounts paid under Section 7.1 or Section 12.1 of this Franchise shall be subject to audit by the City, provided that only payments which occurred during a period of thirty-six (36) months prior to the date the City notifies Grantee of its intent to perform an audit shall be subject to such audit. Grantee agrees to pay the City for: (1) Interest on any underpayment of an amount due under Section 7.1 or Section 12.1 of this Franchise that is disclosed as the result of an audit, such interest to be calculated at one percent (1%) over the existing prime rate as set by the ▇▇▇▇▇ Fargo Bank, National Association, or its successor and assigns as designated by the City, compounded quarterly from the date on which the payment was due. If such payment is not received within thirty (30) days of notice from the City, then interest shall be compounded daily from the date on which the payment was due until the date the City receives the payment. (2) Five percent (5%) of the underpayment shall be due within thirty (30) days of written notice from the City, if the City’s audit discloses that the Grantee has paid ninety-five percent (95%) or less of the principal amount owing for the period under audit. If such payment is not received within thirty (30) days of written notice from the City, then interest shall be compounded daily from the date on which the payment was due until the date on which the City receives the payment, such interest to be calculated at one percent (1%) over the existing prime rate as set by the ▇▇▇▇▇ Fargo Bank, National Association, or its successors and assigns as designated by the City.

Acceptance of Payment and Recomputation. No acceptance of any payment pursuant to Section 7.1 (PEG/I-Net Fee-s) or Section 12.1 (Franchise fees) shall be construed as an accord that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable.

Acceptance of Payment and Recomputation. No acceptance of any payment shall be construed as an accord by the City that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable or any other claim or right. All amounts paid shall be subject to audit and recomputation by the City, provided that such audit and recomputation is completed within six (6) years of the date payment was due. If the City requests in writing that the Grantee provide, or cause to be provided, any information reasonably within the scope of the audit, and the Grantee fails within thirty (30) days of receipt of the request to provide such information or cause it to be provided, then the six (6) year period shall be extended by one day for each day or part thereof beyond thirty (30) days that Grantee such failure continues and Grantee shall pay Liquidated Damages in accordance with Section 19.

Acceptance of Payment and Recomputation. No acceptance of any payment shall be construed as an accord by the City that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable or any other claim or right. All amounts paid shall be subject to audit and recomputation by the City, provided that such audit and recomputation is completed within six (6) years of the date payment was due. If the City requests in writing that the Grantee provide, or cause to be provided, any Documents reasonably within the scope of the audit, and the Grantee fails within thirty (30) days of receipt of the request to provide such Documents or cause it to be provided, then the six (6) year period shall be extended by one day for each day or part thereof beyond thirty (30) days that Grantee’s failure to provide the Document continues and Grantee shall pay Liquidated Damages in accordance with Section 19. If the City requests information for the audit that is not prepared in the ordinary course of business, Grantee shall provide such additional information within sixty

Acceptance of Payment and Recomputation. No acceptance of any payment shall be construed as an accord by Grantor that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim Grantor may have for further or additional sums payable or for the performance of any other obligation of Grantee. The period of limitation for recovery of Franchise Fees payable hereunder shall be six (6) years from the date on which payment by the Grantee was due or such shorter period if required by Applicable Law.

Acceptance of Payment and Recomputation. No acceptance of any payment shall be construed as an accord by the City that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable or any other claim or right. All amounts paid shall be subject to audit and recomputation by the City, provided that such audit and recomputation is completed within six (6) years of the date payment was due. If the City requests in writing that the Grantee provide, or cause to be provided, any information reasonably within the scope of the audit, and the Grantee fails within thirty (30) days of receipt of the request to provide such information or cause it to be provided, then the six (6) year period- shall be extended by one day for each day or part thereof beyond thirty (30) days that such failure continues..

Acceptance of Payment and Recomputation. (A) No acceptance of any payment shall be construed as an accord by the City that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable or any other claim or right. All amounts paid shall be subject to audit and recomputation by the City, provided that such audit and recomputation is completed within six (6) years of the date payment was due. If the City requests in writing that the Grantee provide, or cause to be provided, any information reasonably within the scope of the audit, and the Grantee fails within 30 days of receipt of the request to provide such information or cause it to be provided, then the six (6)year period shall be extended by one day for each day or part thereof beyond 30 days that Grantee such failure continues and Grantee shall pay liquidated damages in the amount of $500.00 per day of such failure.

Acceptance of Payment and Recomputation. 1. No acceptance of any payment made by Verizon Wireless shall be construed as an accord that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable. All amounts paid under Section 3 shall be subject to confirmation and recomputation by the City, provided that such audit and computation is completed within three (3) years of the date any audited and recomputed payment is due. If no such audit or financial review is conducted within the three (3) year period, then any claim that the City might have had for additional compensation shall be forever waived and relinquished. Verizon Wireless agrees to reimburse the City for: a. The reasonable costs of such confirmation if the City's recomputation discloses that Verizon Wireless had paid 95% or less of the Agreement fees owing for the period at issue upon receipt of an invoice from the City showing such costs were actually incurred and directly related to the audit. b. One-half of the reasonable costs of such confirmation if the City's recomputation discloses that Verizon Wireless had paid more than 95% but less than 98% of the Agreement fees owing for the period at issue. c. The City's costs which may be reimbursed under this Section shall not exceed $5,000.00 per audit or financial review. d. If the City determines that Verizon Wireless made any underpayment, and that the underpayment exceeded 5% of the amount due, Verizon Wireless shall pay late fees pursuant to Section 3.C, above. e. If Verizon Wireless disputes the City's determination of underpayment, Verizon Wireless shall immediately place the disputed amount in an escrow account until final resolution. 2. The City and its agents and representatives shall have authority to arrange for and conduct reviews of Verizon Wireless’s records pertaining to this Agreement including those for Facilities Verizon Wireless installed on structures in City rights-of-way and Verizon Wireless’s performance bond and insurance policy as required in this Agreement. The City may determine the scope of review in each instance. All amounts paid by Verizon Wireless shall be subject to review by the City, provided that such review be completed within three (3) years from the date payment was due. City requests for reviews shall be in writing. If Verizon Wireless has not provided copies of all information reasonably within the scope of the review to the Ci...