Common use of Billing and Payment of Overruns Clause in Contracts

Billing and Payment of Overruns. If at any time during the performance of the Work prior to the initial True-Up Date, the Contract Sum exceeds the Target Price by more than [*], Contractor shall thereafter invoice Owner for only [*] of its Reimbursable Costs in its progress invoices delivered pursuant to Article 4.6. If there is an amount due from Contractor for an Overrun after the initial True-Up Date, Contractor shall pay such amount, adjusted to account for any reduced ▇▇▇▇▇▇▇▇ from Contractor pursuant to the first sentence of this Article 4.4.4, within twenty (20) calendar days after the True-Up Date. If the amount due from Contractor for an Overrun at the final True-Up Date is greater than the amount previously paid by Contractor with respect to the initial True-Up Date, Contractor shall pay such additional amount within twenty (20) calendar days after such True-Up Date.