Common use of Additional Payment if Fees Underpaid Clause in Contracts

Additional Payment if Fees Underpaid. If the schedules provided by the Contractor to the Authority pursuant to Section 5.03(a) herein with respect to any Contract Year indicate that the amount of Percentage of Gross Receipts Fees which the Contractor actually paid to the Authority with respect to such Contract Year was less than the amount of Percentage of Gross Receipts Fees due and owing for such Contract Year under the terms of this Contract, then the Contractor shall pay the difference to the Authority at the same time it provides the Annual Statement to the Authority, together with interest on the amount of such difference at the rate specified in Section 5.01(a)(10)(iii)herein.