Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available. 13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date. 13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section. 13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate. 13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 5 contracts
Sources: Transportation Service Agreement, Transportation Service Agreement, Transportation Service Agreement
Billing and Payment. 13.1 Company shall invoice Shipper You will pay CML the amounts due under the Agreement as near to set forth in the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month Order Form or these Terms and Conditions. The stated prices, fees, charges, and other amounts payable for any of the Solutions do not include any excise, sales, use, value- added, or other applicable chargestaxes, and therefore are subject to increase in the amount of any such taxes (excluding any tax on CML’s net income) that CML may be required to collect or pay as a result of the payment thereof. If the actual quantity delivered Any amount that is not known paid by you when due shall incur a late fee calculated at the Billing Daterate of eighteen percent (18%) per annum or the maximum rate permitted by Applicable Law, billing shall be prepared based whichever is less. Unless otherwise set forth elsewhere in the Agreement: (i) on the quantity nominated a monthly basis, CML will provide you with an invoice for any amounts due and payable by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted you to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than CML hereunder; (ii) CML will distribute such monthly invoices to you via email; and (iii) five (5) days after receipt or more following the date of Company's each invoice, the amount of such invoice ("Payment Date") shall be debited from your designated bank account. You shall keep CML apprised of any changes in immediately available fundsyour primary email address or the appropriate account for debiting. If the Payment Date CML is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoiceunable to successfully debit your account, then Shipper shall you will be charged, and you agree to pay, an insufficient funds fee of twenty-five dollars ($25.00). If you fail to pay such any amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on or if for any other reason CML is not satisfied with your creditworthiness, then, in addition to (and without prejudice of) any other rights and remedies available to CML at law, in equity, under contract (including without limitation, the unpaid portion shall accrue from Agreement), or otherwise, CML will be entitled to withhold the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy provision of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected Solutions until you reestablish your creditworthiness to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracyCML’s reasonable satisfaction.
Appears in 4 contracts
Sources: Terms and Conditions, Terms and Conditions, Terms and Conditions
Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.two
Appears in 3 contracts
Sources: Transportation Service Agreement, Transportation Service Agreement, Transportation Service Agreement
Billing and Payment. 13.1 Company 14.01 Transporter shall invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce render its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit on or before the full amount payable when duefirst Day of each Month for the Reservation Charges due for service rendered hereunder during the preceding calendar Month. On or before the 10th day of each Month, interest on the unpaid portion Transporter shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and render its ▇▇▇▇ for any remaining charges for gas services rendered during the preceding calendar Month. Such ▇▇▇▇ shall have include any Commodity Charges, Excess CFT Charges, any adjustments to the rightcharges billed on the first day of the Month, at their own expenseand any penalties for unauthorized overruns applicable to the Month for which the ▇▇▇▇ is rendered.
14.02 Transporter and Shipper shall each, upon reasonable notice at reasonable times, to examine and audit and to obtain copies request of the relevant portion of the booksother, records, and telephone recordings of deliver to the other party only to the extent reasonably for examination such pertinent records and charts as shall be necessary to verify the accuracy of any statement, charge, paymentchart, or computation made by either of them under or pursuant to any of the Agreementprovisions hereof.
14.03 Shipper, except as otherwise hereinafter provided, shall pay to Transporter by wire transfer of immediately available funds on or before the 10th day of each Month for the Reservation Charges due for service rendered by Transporter hereunder during the preceding month and billed by Transporter in the statement for such month, and on or before the 20th day for each Month for any remaining charges for services which are due hereunder. All invoices and ▇▇▇▇If the normal payment due date is a Saturday, Sunday or holiday, this payment is due the following business Day.
14.04 Should Shipper fail to pay all of the amount of any ▇▇▇▇ for service hereunder when such amount is due, interest on the unpaid portion of such amount shall be conclusively presumed final and accurate and all associated claims accrue at the rate equal to the prime rate of CitiBank, N.A. or its successor, calculated from the due date until the date of payment. If such failure to pay continues for under payments or overpayments thirty (30) days after payment is due, Transporter, in addition to any other remedy it may have hereunder, may suspend further transportation of natural gas hereunder until such amount is paid; provided, however, that if Shipper in good faith shall be deemed waived unless dispute the amount of any such invoices or ▇▇▇▇▇▇▇▇ are objected or any part hereof, and shall pay to in writingTransporter such amount as it concedes to be correct, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment and at any time thereafter within thirty (30) days of notice a demand made by Transporter, shall furnish good and substantiation sufficient surety bond, guaranteeing payment to Transporter of the amount ultimately found to be due under such ▇▇▇▇ after a final determination, which may be reached either by agreement between the parties, arbitration or judgment for a court or by any regulatory authority having jurisdiction, then Transporter shall not be entitled to suspend further delivery of natural gas unless and until default be made in the conditions of such inaccuracybond.
14.05 If within twelve (12) months of the date of payment, it shall be found that Shipper has been overcharged or undercharged in any form whatsoever under the provisions hereof, and Shipper shall have actually paid the ▇▇▇▇(s) containing such overcharge or undercharge, then within thirty (30) days after the final determination thereof, Transporter shall refund the amount of any such overcharge with interest thereon at the prime rate of the CitiBank N.A. or its successor from the time such overcharge was paid to the date of refund, and Shipper shall pay the amount of any such undercharge but without interest.
14.06 In the event an error is discovered in the amount billed in any statement rendered by Transporter, such error shall be adjusted within thirty (30) days of the determination thereof, provided that claim therefor shall have been made within sixty (60) days from the date of discovery of such error, but in any event, within twelve (12) months from the date of payment.
14.07 If rendition of a ▇▇▇▇ to Shipper by Transporter is delayed beyond the date specified herein, then Shipper shall pay such ▇▇▇▇ by wire transfer within ten (10) days after rendition thereof.
Appears in 2 contracts
Sources: Firm Transportation Agreement (Public Service Co of North Carolina Inc), Service Agreement (Public Service Co of North Carolina Inc)
Billing and Payment. 13.1 Company 10.1 Billing and Payment - Marketer shall invoice Shipper as near render to Company, at the 15th day address indicated in Section 15.5, on or before the fifteenth (15th) Day of each calendar month ("Billing Date") as is operationally feasible an invoice for transportation all Gas purchased during the preceding month according to the measurements, computations, and prices provided herein. Invoices may be based initially upon estimates, but will be corrected to actuals as soon as possible. Company agrees to make payment under this Agreement to Marketer for any its account in available funds by wire transfer at such location as Marketer may from time to time designate in writing; provided that the Parties recognize that Marketer has entered into a Subordination Agreement with Company and the Lenders, pursuant to which certain payments under this Agreement are subordinated to other applicable chargesexpenses of Company, and that the terms of such agreement are incorporated in this Agreement and shall govern the payment and subordination of such amounts. Payment shall be made by Company within ten (10) Days of the date of receipt of Marketer's invoice. If the actual quantity delivered invoiced amount is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, then interest on the any unpaid portion amount shall accrue from at the date due until the date of payment at a rate equal to the lower of (i) the then-effective then current prime rate of interest published of Chase Manhattan Bank, N.A., not to exceed any applicable maximum lawful rate, together with any court costs, reasonable attorneys' fees and all other costs of collection which Marketer may incur in enforcing the terms of this Agreement. If such default continues thirty (30) Days after written notice from Marketer to Company, then Marketer, after giving the Lenders notice thereof and the right to cure within such period, may suspend Gas deliveries under "Money Rates" by The Wall Street Journalthis Agreement without liability and without prejudice to other remedies. Notwithstanding the above, plus one percent (1%) per annum; or (ii) if a good faith dispute arises between the maximum applicable lawful interest rate.
13.5 Parties over the amounts due under the invoice for any matters, then Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant will pay that portion of the books, records, statement not in dispute on or before the due date and telephone recordings of the other party only both Parties will continue to the extent reasonably necessary perform their obligations under this Agreement during such dispute; provided that (a) Company will be required to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to provide in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days Days, the reasons for its dispute, (b) Company will be required to provide, within thirty (30) Days of notice a written request by Marketer, a good and substantiation sufficient surety bond guaranteeing payment to Marketer of such inaccuracyany portion of the amount ultimately found due that is not subject to subordination under the terms of the Subordination Agreement and (c) in the event Company and Marketer are unable to resolve the disputed portion of the bill within sixty (60) Days, the matter shall be submitted to arbitr▇▇▇▇n under the provisions of Article XIII.
Appears in 2 contracts
Sources: Fuel Management Agreement (East Coast Power LLC), Fuel Management Agreement (East Coast Power LLC)
Billing and Payment. 13.1 Company shall invoice Shipper as near to 8.1 On or before the 15th ninth (9th) business day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing DateMonth, billing Transporter shall be prepared based on the quantity nominated by render an invoice to Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit setting forth the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that datefor such Month.
13.3 If 8.2 When information necessary for invoicing purposes is in the control of Shipper, in good faithShipper shall furnish such information to Transporter on or before the third (3rd) day of the Month.
8.3 Both Transporter and ▇▇▇▇▇▇▇ have the right to examine at reasonable times, disputes books, records and charts of the amount or other to the extent necessary to verify the accuracy of any part of such invoice, then charge or computation made under or pursuant to any of the provisions hereof.
8.4 Shipper shall pay such amount as it concedes to be correct; providedany invoice, however, if Shipper disputes on or before the amount due, it must provide Company with written notice tenth (10th) day after the date of the basis for invoice. Payments by Shipper to Transporter shall be made in the disputed amount and supporting documentation acceptable in natural gas industry practice form of wire transfer directed to support the amount paid and bank account designated by Transporter, unless otherwise agreed to by the amount disputedParties. In Shipper shall identify the event invoice number specified by Transporter to which the parties are unable to resolve payment relates. If Shipper submits payment different from the invoiced amount, remittance detail must be provided with such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Sectionpayment.
13.4 8.5 If rendition of an invoice by Transporter is delayed after the ninth (9th) business day of the Month, then the time of payment shall be extended accordingly unless ▇▇▇▇▇▇▇ is responsible for such delay.
8.6 If ▇▇▇▇▇▇▇ fails to remit pay all of the full amount payable of any invoice when such amount is due, interest on the unpaid portion of the invoice shall accrue from the due date due until the date of payment at a rate of interest equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" charged by The Wall Street JournalCitibank, N.A. during that period to responsible commercial and industrial borrowers, plus one two percent (12%) per annum; or (ii) ), but which in no event shall be higher than the maximum applicable lawful interest raterate permitted by law. In addition to any other remedy Transporter may have, Transporter may suspend further receipt and redelivery of gas for Shipper, provided, however, that if Shipper in good faith shall dispute the amount of any such invoice or part thereof and shall pay to Transporter such amounts not in dispute, and provide documentation identifying the basis for the dispute and, at any time thereafter within thirty (30) days of a demand made by Transporter, shall furnish a good and sufficient surety bond in an amount and with surety satisfactory to Transporter or other assurance acceptable to Transporter, guaranteeing payment to Transporter of the amount ultimately found due upon such invoice after a final determination which may be reached either by agreement or judgment of the courts, as may be the case, then Transporter shall not be entitled to suspend further receipt and redelivery of gas or terminate or abandon service under this Agreement unless and until default be made in the conditions of such bond. The foregoing shall be in addition to any other remedies Transporter may have, at law or in equity, with respect to ▇▇▇▇▇▇▇'s failure to pay the amount of any invoice.
13.5 Company 8.7 If it shall be found that at any time Shipper has been overcharged or undercharged, and ▇▇▇▇▇▇▇ shall have actually paid the rightinvoice containing such charges, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, then within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.thirty
Appears in 2 contracts
Sources: Transportation Service Agreement, Transportation Service Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ Shipper fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ Shipper shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.two
Appears in 2 contracts
Sources: Transportation Service Agreement, Transportation Service Agreement
Billing and Payment. 13.1 Company
9.1 In consideration of the services and facilities provided under this Agreement, each Party shall invoice Shipper bill the other Party on a monthly basis all applicable charges as near set forth in this Agreement or, if not set forth herein, in their respective applicable Tariff(s). The Party billed (“Billed Party”) shall pay to the 15th day of each month invoicing Party ("“Billing Date"Party”) as is operationally feasible for transportation during all undisputed amounts within forty-five (45) days from the preceding month and for any other applicable chargesbill date. If the actual quantity delivered payment due date is not known a Saturday, Sunday or a designated bank holiday, payment shall be made by the Billing Date, billing prior business day. All charges under this Agreement shall be prepared based on billed within two (2) years from the quantity nominated time the charge was incurred; previously unbilled charges more than two (2) years from the time the charge was incurred shall not be billed by Shipper or Company’s estimateeither Party, and shall not be payable by either Party. The invoiced quantity Nothing in this subsection shall then be adjusted affect the right of a Party to contest inaccurate invoices to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is availableextent provided under law.
13.2 Shipper shall remit 9.1.1 The Billing Party will send monthly invoices to the amount due under Section 13.1 no more than five receiving Party within ten (510) calendar days after receipt from the date of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that dateinvoice.
13.3 If Shipper9.1.2 Invoices between the Parties shall be clearly organized and charges must be accompanied by a brief, in good faithclear, disputes non-misleading description of the amount service or any part services rendered including the minutes of use, the rate applied, and whether the charge is for facilities or usage.
9.1.3 Any undisputed amounts not paid when due shall accrue interest from the date such invoice, then Shipper shall pay such amount as it concedes amounts were due at the lesser of (i) one and one-half percent (1- 1/2%) per month or (ii) the highest rate of interest that may be charged under New York’s applicable law.
9.1.4 All usage data and invoices to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights provided pursuant to this Section.
13.4 Agreement shall be sent to the following addresses: For CLEC: CLK01 – Customer Media Processing Center Attn: RazorFlow P.O. Box 15700 Phoenix, AZ 85060 CLEC would prefer to receive all billing information in an electronic media format. If currently sending paper invoices and you are able to supply invoices in a BOSCABS, CABS, SECABS, or EDI format, please email ▇▇▇_▇▇▇_▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and @▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or to setup electronic invoice transmission protocol. For ILEC: Billing Department GoNetspeed ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ New Gloucester, ME 04260 Email: ▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇ are objected or such other address as the Parties may designate to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within one another on at least thirty (30) days of notice and substantiation of such inaccuracyprior written notice.
Appears in 2 contracts
Sources: Interconnection Agreement, Interconnection Agreement
Billing and Payment. 13.1 Company 11.1 In consideration for the provision of the Products, Reseller shall pay to the Supplier the Charges in accordance with this Clause 11.
11.2 The Supplier shall invoice Shipper Reseller for the Charges in accordance with the relevant provisions of the applicable Specific Schedule, and the relevant Order. Invoices shall comply with applicable laws, gener- ally accepted accounting principles and the specific requirements of Reseller (as near notified to the 15th day Supplier from time to time), and at all times contain the following minimum information: Supplier name, address and reference person including contact details; invoice date; invoice number; Order number and Supplier number; address of each month Reseller; quantity; specification of the Products; charges ("Billing Date") total amount in- voiced); currency; tax or VAT amount; tax or VAT number; payment terms as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall agreed.
11.3 Invoices must be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted sent to the actual quantity on billing address specified in the following month's billing or as soon thereafter as actual delivery information is availableOrder.
13.2 Shipper 11.4 Reseller will reimburse expenses only at cost and to the extent agreed in writing.
11.5 Unless otherwise agreed in a specific Order Reseller shall remit the amount due under Section 13.1 no more than five make payment of undisputed invoices within ninety (590) days after from receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that dateinvoice.
13.3 11.6 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either a party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date make any undisputed payment due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to under a Reseller Agreement by the extent reasonably necessary to verify the accuracy of any statement, charge, due date for payment, or computation made then, without limiting the other party's remedies under Clause 20, if the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing un- disputed payment within remains outstanding thirty (30) days from the de- faulting party's receipt of notice and substantiation a written reminder by the other party (such reminder to be sent only after the due date for payment) the defaulting party shall pay interest on the overdue undisputed amount at the rate of such inaccuracy4% per annum. Such interest shall accrue on a daily basis from the ex- piry date of the grace period until actual payment of the overdue amount.
11.7 In relation to payments disputed in good faith, interest under Clause 11.6 is payable only after the dispute is resolved, on sums found or agreed to be due.
Appears in 2 contracts
Sources: It Reseller Agreement, It Reseller Agreement
Billing and Payment. 13.1 Company 3.7.1. On or before the 15th Day of the Month, Carrier shall ▇▇▇▇ ▇▇▇▇▇▇▇ each Month for the Fees for gathering and unloading services provided hereunder during the previous Month. Payment shall be due within 15 Days of the invoice date. In the event actual measurements of quantities of Shipper’s Crude Oil are unavailable in any Month of service, Carrier may invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Datebased on estimated quantities, billing which shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted corrected to the actual quantity on the following month's billing or as soon thereafter as quantities once such actual delivery information is quantities are available.
13.2 3.7.2. Late payments shall accrue interest at the rate of 1.5% per Month, or if such interest rate exceeds the maximum rate allowed by law, then the maximum rate allowed by law will be used. In the event a payment is late by more than sixty (60) Days, Carrier may withhold from delivery an amount of Crude Oil volumes of equal value (in US Dollars) to the US Dollar amount of the late payment (plus accrued interest) until payment of the late Fees has been made. Payments received by Carrier from a particular Shipper shall remit be attributed to the amount due under earliest unpaid invoice issued to that Shipper; provided, however, that such payments shall not be attributed to any amounts disputed subject to Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date3.7.3.
13.3 3.7.3. If Shipper, in good faith, disputes the amount of any such invoice or any part of such invoicethereof, then Shipper shall will pay such amount as it concedes to be correct; provided, however, if . If Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until disputed within 10 Days of the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest ratesuch invoice.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement3.7.4. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments underpayments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or and documentation, within two (2) years after the month 24 Month period following the Month of gas deliveryCrude Oil delivery at the Delivery Point(s). All retroactive adjustments under this Section shall be paid in full by the party Party owing payment within thirty (30) days 30 Days of notice and substantiation of Notice substantiating such inaccuracy.
Appears in 2 contracts
Sources: Firm Crude Oil Gathering and Transportation Agreement (Jones Energy, Inc.), Firm Crude Oil Gathering and Transportation Agreement (Jones Energy, Inc.)
Billing and Payment. 13.1 Company shall invoice Shipper as near to on or before the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ Shipper fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ Shipper shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 2 contracts
Sources: Transportation Service Agreement, Transportation Service Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to on or before the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-then- effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 2 contracts
Sources: Transportation Service Agreement, Transportation Service Agreement
Billing and Payment. 13.1 Company 9.1 In consideration of the services and facilities provided under this Agreement, each Party shall invoice Shipper as near bill the other Party on a monthly basis all applicable charges set forth in this Agreement or, if not set forth herein, in their respective applicable tariff(s). The Party billed (“Billed Party”) shall pay to the 15th day of each month invoicing Party ("“Billing Date"Party”) as is operationally feasible for transportation during all undisputed amounts within forty-five (45) days from the preceding month and for any other applicable chargesbill date. If the actual quantity delivered payment due date is not known a Saturday, Sunday, or a designated bank holiday, payment shall be made by the Billing Dateprior business day. Neither Party shall back bill the other Party for services provided under this Agreement that are more than two (2) years old or that predate this Agreement. If a Party fails to bill for a service within two (2) years of when it was rendered, billing then that Party waives its rights to bill for that service, absent fraud or willful misconduct by the Billed Party.
9.2 Invoices between the Parties shall be prepared based on clearly organized, and charges must be accompanied by a brief, clear, non-misleading description of the quantity nominated by Shipper service or Company’s estimateservices rendered including the minutes of use, the rate applied, and whether the charge is for facilities or usage. Invoices not complying with this section shall not be paid until re-issued in the proper format.
9.3 Invoices between the Parties shall be in SECABS format. The invoiced quantity shall then be adjusted Billing Party will send the invoice to the actual quantity on receiving Party within 10 calendar days from the following month's billing or as soon thereafter as actual delivery information is availabledate of the invoice.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt 9.4 All actions at law by Parties for recovery of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Daytheir lawful charges, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part thereof, shall be begun within two (2) years from the time the cause of such invoiceaction accrues, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Sectionnot after.
13.4 If 9.5 Invoices shall be sent to: For CLEC: For ILEC: For Paper Invoices (not sent on CD) CLK01- CenturyLink CLK01 Media Processing Center PO BOX 15700 ComSouth Telecommunications, Inc. Attn: Accounts Payable ▇▇▇-▇ ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the rightParkway P O Box 5986 Phoenix, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and AZ 85060 OR VIA EMAIL at: ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ are objected For CDs, FedEx, UPS or Overnight Packages: CLK01- CenturyLink c/o Synchronoss ▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇. Phoenix, AZ 85018 All electronically submitted E-paper or mechanized invoices should be directed to ▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. Level 3 prefers billing information in writingan electronic media format. If you have the ability to supply invoices in BOSCABS, with adequate explanation and/or documentationCABS, within two (2) years after the month of gas deliverySECABS or EDI format, send an email to ▇▇▇_▇▇▇_▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ to setup electronic invoice transmission protocol. All retroactive adjustments under this Section Hilton Head Island, SC 29938 ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇▇▇▇▇.▇▇▇ Parties shall be paid in full by the party owing payment within provide thirty (30) days written notice of notice and substantiation of such inaccuracyan address change.
Appears in 1 contract
Sources: Interconnection Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of 13.4.1 For each month ("Billing Date") as is operationally feasible for transportation Period during the preceding month Delivery Term and, if Clause 0 applies, at any time that Delayed Commissioning Payments are due and payable, Seller shall submit to Buyer an invoice for any other applicable charges. If amounts due from Buyer to Seller pursuant to this Agreement, with any amounts denominated in US Dollars under this Agreement stated in US Dollars, and with any amounts denominated in Naira under this Agreement stated in Naira.
13.4.2 Any undisputed portion of the actual quantity delivered is not known by the Billing Date, billing payments shown in such invoice as due to Seller shall be prepared based paid by Buyer in Naira on or before the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five fifteenth (515th) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that datethe Day the invoice is delivered to Buyer, with any amount denominated in US Dollars in the invoice converted from US Dollars to Naira in accordance with Clause 5 of 0.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ 13.4.3 Buyer shall have the rightright to review an invoice or statement prepared by Seller, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies if it disagrees with the determination of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any amount payable under such invoice or statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice may request clarification and substantiation of such inaccuracyinvoice or statement. Buyer shall use its Reasonable Endeavors to review invoices promptly and notify Seller of an error it believes to exist in such invoice within ten (10) Business Days of becoming aware of such error.
13.4.4 Where Buyer disputes an invoice or any portion thereof, it shall declare a Dispute and refer the same for determination in accordance with Clause 0 of this Agreement. If any invoice or any portion thereof is disputed by Buyer, Buyer shall pay the portion of the invoice that is not disputed and withhold the disputed portion until any Dispute in relation thereto is determined in accordance with dispute resolution provisions in Clause 0 of this Agreement.
13.4.5 Each Party shall have the right to set off against any amounts payable by it to the other Party hereunder any and all amounts then due and payable to it by the other Party hereunder. Such rights of setoff shall relate only to amounts payable by the Parties under this Agreement and only to amounts that are then due and payable to and by a Party and not to any amounts which have been disputed by the Party against whom such amounts are claimed in accordance with the terms of this Agreement.
13.4.6 Buyer shall pay interest at the Agreed Interest Rate (Local) on any unpaid amounts invoiced in Naira and due and payable under this Clause 0 from the date payment was due, up to and including the date on which payment is made, except in circumstances where Buyer disputes an invoice or any portion thereof, and any Dispute referred in relation thereto is resolved in its favor (in which case interest shall not apply in respect of the amount that was resolved in Buyer’s favor).
13.4.7 Buyer shall pay interest at the Agreed Interest Rate (Foreign) on any unpaid amounts invoiced in US Dollars and due and payable under this Clause 0 from the date payment was due, up to and including the date on which payment is made, except in circumstances where Buyer disputes an invoice or any portion thereof, and any Dispute referred in relation thereto is resolved in its favor.
13.4.8 Where Buyer disputes an invoice or any portion thereof and the Dispute referred in relation thereto is resolved in favor of Seller, Buyer shall promptly pay the disputed portion that has been resolved in Seller’s favor with interest thereon at the Agreed Interest Rate (Foreign) or Agreed Interest Rate (Local), as applicable.
Appears in 1 contract
Sources: Power Purchase Agreement
Billing and Payment. 13.1 Company All Sections under Article IX shall invoice Shipper as near to be deleted in their entirety and replaced with the 15th following:
Section 1. On or before the fifteenth(15th) day of each month ("Billing Date") as is operationally feasible for transportation Month, Seller shall render a statement to Buyer giving the total quantity of gas, expressed in Mcf, delivered and sold hereunder during the preceding month Month and for any other applicable chargesthe monies due therefor. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes Such statements are to be correct; providedrendered in accordance with this Agreement, however, if Shipper disputes and shall include any amounts due for tax reimbursement under the amount due, it must provide Company with written notice provisions of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputedthis Agreement. In the event the parties amount due Seller cannot be determined on or before the fifteenth (15th) day of the Month, Seller shall nevertheless invoice Buyer for the amounts that are unable to resolve known and/or are nominated by Buyer, and when the information is available Seller shall invoice for actual amounts (or refund any payment as necessary) as soon as practicable after such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Sectionamount is determined.
13.4 Section 2. Ten (10) days after the statement is received by Buyer, Buyer shall make payment to Seller by wire transfer per the instruction set forth in the Article titled "NOTICES". If ▇▇▇▇▇▇▇ fails Buyer disputes the amount of any statement for any reason, Buyer shall notify Seller of such dispute and shall be obligated to remit pay only the full amount payable when due, interest undisputed portion of such statement on the unpaid portion due date. Buyer shall accrue from pay the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant disputed portion of the booksstatement which is determined to be owing to Seller within fifteen (15) days after the date the dispute is resolved, recordstogether with interest on such amount at the rate set forth in Section 4 below, and telephone recordings commencing on the original due date of the other party only statement and continuing until paid. If the statement shall have been paid in full and it shall be determined that such disputed portion of the statement was paid in error, Seller shall refund such amount to Buyer, together with interest at the extent reasonably necessary rate hereinafter set forth below over the period that Seller had possession of the money, within fifteen (15) days after resolution of the dispute.
Section 3. All statements, bills, computations and payments shall be subject to verify the accuracy correction of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within errors contained therein until two (2) years after date of payment, and after such period any errors found will be deemed to be waived by the affected party.
Section 4. Any amounts due for gas delivered hereunder remaining unpaid after the due date for such payment shall bear interest, at the lesser of the highest lawful interest rate or the prime rate charged by Norwest Bank of Denver plus two percent (2%), until paid.
Section 5. Each party shall have access to and the right to audit during regular business days and business hours, upon reasonable notice, all measurement, billing, computation and payment records maintained by the other party which relate to the gas received under this Agreement. All records will be maintained for two (2) years after payment has been made for the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by to which the party owing payment within thirty (30) days of notice and substantiation of such inaccuracyrecords pertain.
Appears in 1 contract
Billing and Payment. 13.1 Company shall invoice Shipper as near to A. On or before the 15th twentieth (20th) day of each month ("Billing Date") as is operationally feasible month, Transporter shall render to Shipper its ▇▇▇▇ for transportation all gas transported during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 B. Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Companypay Transporter, at Transporter's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipperaddress designated herein, in good faith, disputes funds on or before the amount or any part last day of the month in which such invoice, then Shipper shall pay such amount as it concedes to be correctinvoice is rendered; provided, however, that if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇Transporter renders a ▇▇▇▇ fails after the twentieth (20th) day of the month, that due date shall be extended to remit ten (10) days after the full ▇▇▇▇ is rendered for the gas transported for Shipper hereunder during the preceding month.
C. Should Shipper fail to pay all of the amount payable of any ▇▇▇▇ as herein provided when such amount is due, interest on the unpaid portion shall accrue from of the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have accrue and be payable at the rightrate of one and one-half percent (1.5%) per month from the due date until the date of payment; provided, at their own expensehowever, upon reasonable notice at reasonable timesthat no interest rates or charges provided in this Agreement are intended to exceed the maximum allowed by law and any such rates or charges stated herein shall be conformed, if necessary, to examine and audit and the maximum rates or charges allowed by law. If such failure to obtain copies of pay continues for thirty (30) days after payment is due, Transporter, in addition to any other remedy it may have under this Agreement, may suspend further transportation until such amount is paid; provided, however, that if Shipper in good faith shall dispute the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy amount of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇such ▇▇▇▇ or part thereof and shall pay to Transporter such amounts as it concedes to be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writingcorrect, with adequate explanation and/or documentationand, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment at any time thereafter within thirty (30) days of notice a demand made by Transporter, shall furnish good and substantiation sufficient corporate undertaking acceptable to Transporter, guaranteeing payment to Transporter of the amount ultimately found due upon such ▇▇▇▇ after a final determination, which may be reached either by agreement or judgment of court, as the case may be, then no interest will be due on the unpaid portion of the ▇▇▇▇.
D. In the event an error is discovered in the amount shown due in any statement rendered by Transporter, such error shall be adjusted within thirty (30) days after the amount thereof is determined. Claims for errors shall be made promptly upon discovery, but in any event, within six (6) months of the date of such inaccuracystatement.
E. Transporter and Shipper shall each have the right to examine at all reasonable times the books, records, and charts of the other to the extent necessary to verify or audit the accuracy of any statement, ▇▇▇▇, chart, or computation made under or pursuant to this Agreement. All books of accounts, records, and charts of either party relating to deliveries of gas hereunder, and the amount due hereunder, shall be preserved for a period of two (2) years.
Appears in 1 contract
Billing and Payment. 13.1 Company After receiving allocation information from Pipeline each Month, CBF shall furnish Monthly to Amoco an invoice Shipper as near reflecting all applicable fees and charges due and Amoco shall pay to CBF the 15th day amounts due no later than (i) ten (10) Days after Amoco's receipt of each month invoice therefor, if the amount of same is fifty thousand dollars ("Billing Date"$50,000) as or more or (ii) fifteen (15) Days after receipt of invoice therefor, if the amount of same is operationally feasible for transportation during the preceding month and for any other applicable chargesless than fifty thousand dollars ($50,000). If the actual quantity delivered Day on which any payment is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, then the relevant payment shall be due upon the immediately preceding Business Day, except if such payment due date is a Sunday or Monday, then the relevant payment shall be due upon the immediately succeeding Business Day. Any amounts which remain due and owing after the due date shall bear interest thereon at the lower of the United States Treasury 90-Day T-Bill interest rate, as published in the Wall Street Journal on the next Business f▇▇▇▇ Day following that date.
13.3 such rate is quoted at the beginning of each calendar quarter, plus thirteen (13%), or the maximum lawful rate of interest (the "Base Rate"). If Shipper, in a good faith, disputes faith dispute arises as to the amount or payable in any part of such invoicestatement, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount duenot in dispute shall be paid. if Amoco elects to withhold any payment otherwise due as a consequence of a good faith dispute, it must Amoco shall provide Company CBF with written notice of its reasons for withholding payment, and, if the basis for amount of such invoice is equal to or greater than five thousand dollars ($5,000) or the total aggregate amount of all invoices in which Amoco has withheld payment and is outstanding at any time is greater than or equal to twenty five thousand dollars ($25,000), Amoco shall simultaneously place the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment into an escrow account at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journalmutually acceptable commercial bank, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies pending resolution of the relevant portion of the books, records, dispute. Amoco's election to withhold payment from CBF and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ escrow same as provided herein shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment exercised within thirty (30) days Days from Amoco's receipt of notice and substantiation the invoice giving rise to such good faith dispute. After the thirty (30) Day period, Amoco shall be required to pay CBF the full amount of the invoice whether or not there is a good faith dispute as to the amount payable. If it is subsequently determined, whether by mutual agreement of the Parties or otherwise, that (i) Amoco is required to pay all or any portion of the disputed amounts to CBF or (ii) Amoco is entitled to reimbursement for an invoice it paid, in addition to paying such inaccuracyamounts, the Party making such payment also shall pay interest accrued on such amounts at the Base Rate from (1) the original due date until paid in full, if Amoco is required to pay, or (2) the date Amoco paid the disputed invoice until paid in full, if CBF is required to pay.
Appears in 1 contract
Sources: Limited Partnership Agreement (Dynegy Energy Partners Lp)
Billing and Payment. 13.1 Company (a) Payment of the Reservation Rate for the Month in which the Commencement Date occurs shall invoice Shipper as near be due on the Commencement Date. Payment of the Reservation Rate for each succeeding Month shall be due, without invoice, on the first Business Day of such Month.
(b) With respect to amounts payable other than the 15th day of each month ("Billing Date") as is operationally feasible Reservation Rate, APC shall deliver to SEMCO a monthly statement for transportation Transportation services for the preceding Month, which shall detail all charges payable by SEMCO during the preceding month Month and the basis for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit calculation of the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correctdue; provided, however, if Shipper disputes that so long as the Reservation Rate and the Commodity Rate under the Special Contract have not been modified, the statement delivered by APC to ENSTAR pursuant to Article VII of the Special Contract shall satisfy the requirements of this Section 4.4.2. SEMCO shall pay APC the full amount duedue by wire transfer of immediately available funds to the account designated by APC no later than ten (10) days after SEMCO's receipt of such statement.
(c) If SEMCO disagrees with any statement, it must provide Company with written notice shall promptly notify APC in writing of its disagreement and the facts providing the basis for therefore. If the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties Parties are unable to resolve agree upon a settlement of the contested portion of a statement, the dispute shall be addressed in accordance with Article VI. The existence of a dispute with regard to any portion of a payment due shall not relieve SEMCO of the obligation to pay any uncontested amounts due under this Agreement or to perform any other obligation under this Agreement. SEMCO shall pay, no later than ten (10) days after SEMCO's receipt of the statement, any disputed amount into a separate interest bearing account at First National Bank of Alaska or its successor and shall notify APC of such disputedeposit. Any interest which may accrue in such account shall be payable to the Party in whose favor the dispute is resolved, either party may pursue and any remedy available at law or in equity such interest actually paid shall reduce the interest payments required to enforce its rights be made pursuant to this SectionSection 4.4.5 accordingly.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (id) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ Each Party shall have the right, at their own expense, upon reasonable notice at reasonable times, right during normal business hours to examine and audit and to obtain copies of the relevant portion of the books, records, records and telephone recordings charts of the other party only Party to the extent reasonably necessary to verify the accuracy of any statementinvoice related to this Agreement. Claims for adjustments on account of subsequently discovered errors must be made within twelve (12) Months of the date the statement was issued. The Party discovering such an error shall promptly notify the other Party in writing of the errors believed in good faith to have occurred and the facts providing the basis for such belief. Adjustment of overpayments or underpayments shall be made within ten (10) days after resolution of such subsequently discovered errors.
(e) If either Party shall fail to make any payment required by this Agreement when due, chargeincluding contested portions of bills, or if any Party makes an overpayment requiring a refund by the other Party, the amount due shall bear interest, from the due date of the payment or the date on which the overpayment was made until the date of payment, or computation made under at a rate per annum for the Agreementfirst ten (10) days equal to the rate published as the "prime rate" in The Wall Street Journal for the first Business Day of the month in which such invoice is due, plus 2%, and thereafter at a rate per annum equal to 15%, but in no event at any rate that is greater than the maximum interest rate allowed by applicable Laws. All invoices and ▇▇▇▇▇▇▇▇ If the due date of any payment is not a Business Day, then the next Business Day shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall last day on which payment can be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracywithout interest charges being assessed.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Atlas Pipeline Partners Lp)
Billing and Payment. 13.1 Company (a) Unless otherwise agreed in writing by the Parties, within seven (7) days after the end of each shipment month during the Term for each Transaction, Buyer and Seller shall provide the other, if necessary, with an invoice. setting forth, as appropriate, (i) the aggregate Contract Price owed to Seller for the Fuel actually delivered to and accepted by Buyer at each Delivery Point during the applicable month; (ii) any quality adjustments and supporting calculations determined pursuant to Section 5.1; (iii) any transportation or other charges owed by Buyer or Seller to the other pursuant to this Master Agreement; (iv) any liquidated damages payments pursuant to Section 8.4. Subject to the provisions of Section 6.1(c) below, no later than ten (10) Business Days after receipt of a Party’s invoice Shipper as near to or the 15th day of each month the month, which ever is later, ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered or if such day is not known a Business Day. the immediately following Business Day), the receiving Party shall pay, by electronic transfer in immediately available United States funds, the Billing Date, billing shall be prepared based amount set forth on such invoice along with the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted necessary information enabling reconciliation to the actual quantity on relevant shipment to the following month's billing or as soon thereafter as actual delivery information is available.applicable payment address provided in Exhibit C.
13.2 Shipper (b) With respect to financial ▇▇▇▇▇▇▇ transactions, all such invoices shall remit the amount due under Section 13.1 provide for payment no more later than five ten (510) days Business Days after receipt of Company's an invoice or on the 25th of the month of the scheduled delivery, whichever is later ("Payment Date") in immediately available funds. If the Payment Date or if such day is not a Business Day, payment is due on the next immediately following Business Day following that dateDay).
13.3 If Shipper, (c) Notwithstanding anything to the contrary contained herein. if the receiving Party in good faith, faith reasonably disputes the amount or any part of such an invoice, then Shipper it shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with a written notice of explanation specifying in detail the basis for the dispute and pay any undisputed portion no later than the due date. if any amount disputed by the receiving Party is subsequently determined to be due, it shall be paid within five (5) Business Days along with interest accrued at the Interest Rate from the original due date until the date paid. If, after such determination, any Party fails to pay amounts under this Master Agreement when due, unless such amount is excused by Force Majeure under Article 7 hereof, in addition to the rights and supporting documentation acceptable remedies provided in natural gas industry practice to support this Master Agreement. the amount paid and aggrieved Party shall have the amount disputed. In right to: (i) suspend performance under this Master Agreement until such amounts plus interest at the event the parties are unable to resolve such disputeInterest Rate have been paid, either party may pursue and/or (ii) exercise any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracyamount plus interest at the Interest Rate.
Appears in 1 contract
Sources: Master Fuel Purchase and Sale Agreement (Foresight Energy LP)
Billing and Payment. 13.1 Company 9.1 On or before the fifteenth (105th) day following the month in which deliveries of Gas were made hereunder, Seller shall invoice Shipper as near deliver to the 15th day of each month ("Billing Date") as is operationally feasible Buyer a statement for transportation during the preceding month properly identified as to the Delivery Point and for any other applicable chargesshowing the total volume of Gas delivered and the amount due. If the actual quantity volume delivered is not known available by the Billing Datecontractual billing date, billing shall will be prepared based on the quantity nominated by Shipper or Company’s estimateScheduled quantities. The invoiced quantity shall estimated volume will then be adjusted corrected to the actual quantity volume on the following month's ’s billing or as soon thereafter as actual delivery information is available.
13.2 Shipper 9.2 Unless a different payment method is specified in the Confirmation Notice, Buyer shall remit the full amount due under Section 13.1 no more than five in Dollars by electronic funds transfer pursuant to Seller’s invoice instructions, on or before the later of (5i) the twenty-fifth (25th) Day of the Month immediately following the delivery Month or (ii) ten (10) days after receipt of Company's the invoice ("Payment Date") in immediately available funds. If the Payment Date by Buyer; provided that if such date is not a Business Day, payment is due on the next Business Day following that dateDay.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. 9.3 In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ a Party fails to remit pay the full amount payable by it when due and absent a bona fide dispute as to whether such amount is due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate Interest Rate from the date due until the date of interest published under "Money Rates" by The Wall Street Journalpayment, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company 9.4 The Parties agree to discharge mutual debts and ▇▇▇▇▇▇▇ payment obligations due and owing to each other whether arising under this Master Agreement or any other agreement, but limited to natural gas transactions only, between the Parties through netting. Therefore, all amounts owed by one Party to the other Party during any given month arising from natural gas transactions will be netted against the amount owed by the other Party under such transactions. The Party owing the greater amount shall pay the difference to the other Party and notify the other Party of the amount netted using the invoice and payment procedures described herein.
9.5 Each of the Parties, at its own expense, shall have the right, at their own expense, upon reasonable notice and at reasonable times, to examine the books and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings records of the other party only to the extent reasonably necessary to verify the accuracy of any statement, payment, demand, charge, payment, or computation made under the any Agreement. All invoices If either Party has documentation from its Transporter(s), which is needed by the other Party in this regard, it shall provide such information upon request. Any such audit and ▇▇▇▇▇▇▇▇ shall any claim based upon errors in any statement must be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, made within two (2) years after of the month date of gas deliverysuch statement or last revision thereof. All retroactive adjustments under this Section Neither Party shall have the right to perform more than (2) such audits per calendar year. Such right to audit shall be paid available for the term of this Agreement and for two (2) years after its termination.
9.6 In the event an error is discovered in full the amount billed in any invoice rendered hereunder such error shall be rectified by payment within ten (10) days after notice of the discovery of the error. In the event a dispute arises as to the amount payable in any invoice rendered hereunder, Buyer shall nevertheless pay when due the amount not in dispute under such invoice, and shall provide written notice to Seller indicating the disputed amount and the reason for such dispute. In the event a difference for volumes cannot be reconciled, payment shall be based upon the receipt volumes allocated to the shipper’s transportation contract(s) with the Transporter. During this time of reconciliation, there shall be no late charges or interest imposed on the Buyer related to payment for such difference, unless interest charges are being applied by the party owing affected Transporter. Such payment within thirty (30) days shall not be deemed to be a waiver of notice and substantiation the right by Buyer to recoup any overpayment, nor shall acceptance of such inaccuracyany payment be deemed to be a waiver by Seller of any underpayment.
Appears in 1 contract
Billing and Payment. 13.1 Company (a) PEPCO shall invoice Shipper as near prepare and render to Seller (or to any person designated in writing by Seller to PEPCO) within twenty-five (25) Days after the end of each Billing Period: (i) a statement detailing PEPCO's calculation of the Monthly Capacity Payment and the Monthly Energy Payment due to Seller for such Billing Period, less any undisputed amounts overdue to PEPCO from Seller pursuant to this Agreement and less any amounts owing to PEPCO under Sections 6.4 and 6.6, (ii) payment to Seller in the amount indicated in such statement, and (iii) calculations of the EAF and EFOR of the Facility for the most recent time periods referred to in Subsection 15.1(c) for which data are available.
(b) If any undisputed payment from either Party is not paid when due, there shall be due and payable to the 15th day other Party interest thereon from the date on which such payment became overdue and calculated at the prime interest rate(s) then in effect at Citibank of each month New York, or its successor, plus two percent ("2%), from the last Day of the Billing Date"Period(s) as for which the overdue payment is operationally feasible for transportation during owed.
(c) If either Party disputes the preceding month and for accuracy of a ▇▇▇▇, the Parties shall use their best efforts to resolve the dispute in accordance with Section 17.1. Any adjustments which the Parties may subsequently agree to make with respect to any other applicable chargessuch billing dispute shall be made by a credit or additional charge on the next ▇▇▇▇ rendered. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties Parties are unable to resolve such disputethe dispute in this manner, either party any amounts disputed on subsequent bills for the same reason may pursue any remedy available at law or thereafter be withheld pending final resolution of the dispute in equity to enforce its rights pursuant to this Sectionaccordance with the procedures described in Section 17.2, but the undisputed amount shall be promptly paid.
13.4 If ▇▇▇▇▇▇▇ fails (d) Upon resolution of a disputed amount, the amount shall be due and payable to remit the full amount payable when dueappropriate Party, with interest on the unpaid portion shall accrue thereon from the date due until on which such amount would otherwise have been overdue hereunder if no dispute had arisen, calculated at the date prime interest rate(s) then in effect at Citibank of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street JournalNew York, or its successor, plus one two percent (12%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇). The existence of a dispute as to any ▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies not relieve either Party of the relevant portion compliance with any other provision of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the this Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 1 contract
Billing and Payment. 13.1 Company Within fifteen (15) days of the beginning of each Month, each Party (the “Billing Party”) shall invoice Shipper as near render to the 15th day other Party (by regular mail, facsimile, or other acceptable means pursuant to Article 12) a statement for payments due the Billing Party under this Agreement for the preceding Month during the Contract Term setting forth in sufficient detail the manner in which the invoiced amounts were calculated, including the Demand Charges, Energy Charges, Block Charges, and Excess Gas Costs for each EDP in the preceding Month and the On Peak Deliverability Damages, On Peak Buyer Damages, or On Peak Deliverability Bonus, if any, for all EDP's in that Month. Within thirty (30) Days after the end of each month Contract Year, in the Fixed Price Period, Seller shall render to Buyer ("by regular mail, facsimile, or other acceptable means pursuant to Article 12) a statement of all Block Charges due Seller for each EDP in that Contract Year. Billing Date") as is operationally feasible for transportation during and payment of all charges will be based on metered quantities of Gas and Electricity at the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing DateGDP’s or EDP’s, billing which amounts shall be prepared subject to adjustment based on the quantity nominated by Shipper errors determined in accordance with Section 8.3. Payment of suchall amounts due, consistent with adjustments made pursuant to Section 8.2, shall be dumade on or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five before ten (510) days Days after receipt of Company's the Billing Party’s invoice ("Payment Date") and shall be sent to the Billing Party’s payment address provided in immediately available fundsExhibit GF hereto. Overdue payments shall accrue interest at the Interest Rate from, and including, the due date to, but excluding, the date of payment. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shippereither Party, in good faith, disputes the amount or any part of such an invoice, then Shipper the other Party shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with a written notice of explanation specifying in detail the basis for the dispute and pay the portion of such invoice conceded to be correct no later than the due date. If any amount disputed amount and supporting documentation acceptable in natural gas industry practice is determined to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when be due, it shall be paid within ten (10) days of such determination, along with interest on accrued at the unpaid portion shall accrue Interest Rate from the original due date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest ratepaid.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 1 contract
Sources: Power Purchase Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ Shipper fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the fromthe date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ Shipper shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.two
Appears in 1 contract
Sources: Transportation Service Agreement
Billing and Payment. 13.1 Company After receiving allocation information from Pipeline each Month, CBF shall furnish Monthly to Amoco an invoice Shipper as near reflecting all applicable fees and charges due and Amoco shall pay to CBF the 15th day amounts due no later than (i) ten (10) Days after Amoco's receipt of each month invoice therefor, if the amount of same is fifty thousand dollars ("Billing Date"$50,000) as or more or (ii) fifteen (15) Days after receipt of invoice therefor, if the amount of same is operationally feasible for transportation during the preceding month and for any other applicable chargesless than fifty thousand dollars ($50,000). If the actual quantity delivered Day on which any payment is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, then the relevant payment shall be due upon the immediately preceding Business Day, except if such payment due date is a Sunday or Monday, then the relevant payment shall be due on upon the next immediately succeeding Business Day. Any amounts which remain due and owing after the due date shall bear interest thereon at the lower of the United States Treasury 90-Day following that date.
13.3 T-Bill interest rate, as published in the Wall Street Journal o▇ ▇▇e first Day such rate is quoted at the beginning of each calendar quarter, plus thirteen (13%), or the maximum lawful rate of interest (the "Base Rate"). If Shipper, in a good faith, disputes faith dispute arises as to the amount or payable in any part of such invoicestatement, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount duenot in dispute shall be paid. if Amoco elects to withhold any payment otherwise due as a consequence of a good faith dispute, it must Amoco shall provide Company CBF with written notice of its reasons for withholding payment, and, if the basis for amount of such invoice is equal to or greater than five thousand dollars ($5,000) or the total aggregate amount of all invoices in which Amoco has withheld payment and is outstanding at any time is greater than or equal to twenty five thousand dollars ($25,000), Amoco shall simultaneously place the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment into an escrow account at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journalmutually acceptable commercial bank, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies pending resolution of the relevant portion of the books, records, dispute. Amoco's election to withhold payment from CBF and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ escrow same as provided herein shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment exercised within thirty (30) days Days from Amoco's receipt of notice and substantiation the invoice giving rise to such good faith dispute. After the thirty (30) Day period, Amoco shall be required to pay CBF the full amount of the invoice whether or not there is a good faith dispute as to the amount payable. If it is subsequently determined, whether by mutual agreement of the Parties or otherwise, that (i) Amoco is required to pay all or any portion of the disputed amounts to CBF or (ii) Amoco is entitled to reimbursement for an invoice it paid, in addition to paying such inaccuracyamounts, the Party making such payment also shall pay interest accrued on such amounts at the Base Rate from (1) the original due date until paid in full, if Amoco is required to pay, or (2) the date Amoco paid the disputed invoice until paid in full, if CBF is required to pay.
Appears in 1 contract
Sources: Fractionation Agreement (Dynegy Energy Partners Lp)
Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("“Payment Date"”) in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 1 contract
Sources: Transportation Service Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ Shipper fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ Shipper shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.two
Appears in 1 contract
Sources: Transportation Service Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to on or before the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ Shipper fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-then- effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ Shipper shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 1 contract
Sources: Transportation Service Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to on or before the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracy.
Appears in 1 contract
Sources: Transportation Service Agreement
Billing and Payment. 13.1 Company shall invoice Shipper as near to the 15th day of each month ("Billing Date"a) as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If ShipperSeller, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company connection with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If as Purchaser under the ▇▇▇▇▇▇▇ fails PPA, shall cause the Facility’s metering equipment to remit be read at the full amount payable when due, interest Interconnection Point at 12:00 midnight (Central Prevailing Time) on the unpaid portion last Day of each Month, unless otherwise mutually agreed by the Parties. Seller shall accrue prepare and render to Purchaser within 7 Business Days after the end of each Billing Period a statement detailing the meter reading (in half-hour readings) and Seller’s calculation of the payments due to Seller for such Billing Period.
(b) Payment for the Reservation Payment, Energy Payment, Guaranteed Heat Rate Payment and other amounts owed by Purchaser pursuant to this Agreement for each Billing Period shall be made by wire transfer of funds immediately available in an account designated by Seller within 18 Days from the date due until the date of payment at delivery of a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest ratestatement for such Billing Period.
13.5 Company and (c) If either Party disputes the accuracy of a ▇▇▇▇▇▇▇ , the Parties shall have use their best efforts to resolve the right, at their own expense, upon reasonable notice at reasonable times, dispute in accordance with Section 20.1. Any adjustments which the Parties may subsequently agree to examine and audit and make with respect to obtain copies of any such billing dispute shall be made by a credit or additional charge on the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇next ▇▇▇▇ rendered. If the Parties are unable to resolve the dispute in this manner, any amounts remaining in dispute disputed in good faith as of the due date for such Billing Period or thereafter on subsequent bills for the same reason may be withheld pending final resolution of the dispute in accordance with Section 20.2, provided that any undisputed amount shall be conclusively presumed final promptly paid; and accurate and all associated claims for under payments provided, further, that amounts paid as a result of the settlement or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month other resolution of gas delivery. All retroactive adjustments under this Section a dispute shall be paid with interest thereon from the original due date as provided in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracySection 13.5.
Appears in 1 contract
Billing and Payment. 13.1 Company 9.1 The accounting period for transactions under this Agreement shall invoice Shipper as near to the 15th day of be one (1) calendar month.
9.2 After each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Dateof service, billing PNM Marketing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails TNMP and TNMP shall pay PNM Marketing the amounts specified by this Agreement.
9.3 Bills shall be submitted to remit the full amount TNMP by PNM Marketing via facsimile transmission, e-mail or via regular mail, return receipt requested. Bills shall be due and payable when due, interest on the unpaid portion received by TNMP and shall accrue become delinquent if payment has not been received by PNM Marketing ten (10) days from the date due until of receipt of the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇ by TNMP, unless such due date falls on a non-Business Day, in which case the due date shall be the first Business Day thereafter. The date of receipt of the ▇▇▇▇ shall have be assumed to be the rightdate upon which PNM Marketing provided the ▇▇▇▇ via facsimile transmission. In the absence of such facsimile transmission, the ▇▇▇▇ shall be mailed return receipt requested and the date of receipt shall be the date indicated on the return receipt form. Bills which are not paid in full within ten (10) days from the date of receipt shall be paid with interest accrued at their own expensethe rate specified in Section 9.4.
9.4 In the event a portion of any ▇▇▇▇ is disputed, upon reasonable notice at reasonable times, to examine and audit and to obtain copies the entire amount of the relevant ▇▇▇▇ shall be paid by the due date, but the disputed portion may be paid under protest. Any amounts which through inadvertent errors, or as the result of resolution of a dispute, may have been overpaid or underpaid, shall be paid or refunded within five (5) Business Days after determination of the bookscorrect amount has been made, records, and telephone recordings including interest accrued thereon at one percent 1.0% per month applied to the period from the initial due date of the other party only ▇▇▇▇ to the extent reasonably necessary to verify date that the accuracy of any statementcorrected payment or refund is made.
9.5 Unless or until changed by TNMP, charge, payment, or computation made under the Agreement. All invoices and monthly ▇▇▇▇▇▇▇▇ to TNMP shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or sent to: Texas-New Mexico Power Company ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇ are objected ▇▇▇▇▇ ▇▇. ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ Attn.: Power Resources/▇▇▇▇ ▇▇▇▇▇ Facsimile No.: (▇▇▇) ▇▇▇-▇▇▇▇
9.6 Unless or until changed by PNM Marketing, monthly payments to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section PNM Marketing shall be paid made by electronic transfer to: ▇▇▇▇▇ Fargo Bank ABA # ▇▇▇-▇▇▇-▇▇▇ ME Whsl Pwr Dep Account # ▇▇▇-▇▇▇▇▇-▇▇ Attn.: EA-Wholesale Power Marketing
9.7 In the event that TNMP’s electronic transfer becomes lost or is late arriving through no fault of TNMP’s, PNM Marketing shall waive any interest charge which would otherwise have accrued due to lateness in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracypayment. PNM Marketing further agrees to assist TNMP in resolving any electronic transfer problem which might arise.
Appears in 1 contract
Sources: Wholesale Requirements Power Sale and Services Agreement (Texas New Mexico Power Co)
Billing and Payment. 13.1 Company shall invoice Shipper as near Billing and payment will be based on actual quantities of Ocean's Gas delivered to the 15th Delivery Point(s). Properly confirmed and changed quantities of Ocean's Baseload Gas shall be used if such actual quantities are unavailable to make payment by the 25th of the month following the month of deliveries of Ocean's Gas. Within ten (10) days of the request of either Party, the other Party shall provide, to the extent it has a legal right of access thereto and/or such statement which is then available, a copy of the applicable transporter's allocation or imbalance statement requested by the Party. Buyer shall pay Seller the full amount due in U.S. Dollars by wire transfer, Automated Clearinghouse (ACH), electronic funds transfer or other similarly expeditious means, as provided below, on or before the twenty-fifth (25th) day of each the month ("Billing Date") as is operationally feasible for transportation during immediately following the preceding delivery month and for any other applicable chargesor the first Business Day thereafter. If On the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on day of such payment Buyer will forward to Seller a statement showing the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted of Ocean's Gas delivered to the actual quantity on Delivery Point(s), the following monthprice paid for Ocean's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit Gas at each Delivery Point and the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the total amount paid and the amount disputedto Seller. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ Buyer fails to remit pay the full amount payable by it when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-then effective prime rate of interest for large U.S. Money Center commercial banks, published under "Money Rates" by The Wall Street Journal, plus one two percent (12%) per annum; annum from the date due until the date of payment, or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ . Each of the Parties, at its own expense, shall have the right, at their own expense, upon reasonable notice and at reasonable timestimes during regular business hours, to examine the books and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings records of the other party only Party to the extent reasonably necessary to verify the accuracy of any statement, payment, demand, charge, payment, or computation made under the this Agreement. All invoices Any such audit and ▇▇▇▇▇▇▇▇ shall any claim based upon errors in any statement must be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, made within two (2) years after of the month date of gas deliverysuch statement. All retroactive adjustments under this Section Neither Party shall have the right to perform more than two (2) such audits per calendar year. Such right to audit shall be paid available for the term of this Agreement and for two (2) years after its termination. In the event an error is discovered in full the amount in any statement rendered hereunder such error shall be rectified by payment within ten (10) days after notice of the error from the discovering Party to the other Party. In the event a dispute arises as to the amount payable in any statement rendered hereunder, the disputing Party shall provide written notice to the other Party indicating the disputed amount and the reason for such dispute. In the event a difference for volumes of Ocean's Gas delivered cannot be reconciled, payment shall be based upon the delivery volumes specified by the party owing payment within thirty delivering transporter(s) to the Delivery Point(s). For a period of ninety (3090) days following the date of notice a statement hereunder no interest shall accrue or be payable by a Party on amounts paid by Buyer which are in dispute hereunder because of the reconciliation in differences of volumes of Ocean's Gas. A payment hereunder shall not be deemed to be a waiver of the right by Buyer to recoup any overpayment, nor shall acceptance of any payment be deemed to be a waiver by Seller of any underpayment except as otherwise provided herein. Payment: Duke Energy Trading and substantiation of such inaccuracy.Marketing, L.L.C.
Appears in 1 contract
Sources: Natural Gas Purchase and Sale Agreement (Ocean Energy Inc /Tx/)
Billing and Payment. 13.1 Company Sunoco Partners shall submit invoices to Motiva hereunder as follows:
8.1 Sunoco Partners shall invoice Shipper as near to Motiva on or before the 15th tenth (10th) day of each month for an amount corresponding to ("Billing Date"i) as is operationally feasible one twelfth of the Base Volume Amount multiplied by the Base Throughput Fee; plus (ii) any amounts otherwise due and payable under Section 7 for transportation during the preceding month previous month;
8.2 Subject to Section 8.3, Motiva shall pay Sunoco Partners within twenty (20) days from the invoice date, regardless of whether the invoice was received before, on, or after the tenth (10th) day of the month, the amount specified on the invoice. Such payment shall be made by electronic transfer of immediately available funds to the bank and for bank account set forth on each invoice. For any other applicable chargesinvoice submitted hereunder, Sunoco Partners shall provide any supporting documentation reasonably requested by Motiva.
8.3 Although Motiva may dispute in good faith the amount of any such invoice, Motiva shall timely pay to Sunoco Partners all amounts which Motiva concedes are correct. Motiva shall promptly notify Sunoco Partners in writing of any such dispute, and following receipt of such notice, Sunoco Partners shall promptly work with Motiva to resolve the dispute. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted Motiva fails to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the pay any disputed amount due under Section 13.1 no more than five within sixty (560) days after receipt the date on which the Parties have finally resolved or settled such amount, or payment of Company's such disputed amount has been finally adjudicated or otherwise resolved, whichever occurs first, Sunoco Partners, in addition to any other remedies it may have, may suspend service under this Agreement. No payment by Motiva of the amount of a disputed invoice ("Payment Date") shall prejudice the right of Motiva to claim an adjustment of the disputed invoice so long as such invoice is disputed in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that dateaccordance with this paragraph.
13.3 If Shipper, in good faith, disputes 8.4 Should Motiva fail to pay part or all of the amount of any undisputed invoice, or any part disputed invoice which has been resolved for a period of such invoicesixty (60) days following the due date thereof, then Shipper shall pay such amount as it concedes to be correct; providedSunoco Partners may charge interest at the prime rate charged by Citibank, howeverN.A., if Shipper disputes the amount dueNew York, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue New York (or any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest successor thereof) on the unpaid portion shall accrue of the invoice, computed from the date payment is due until the date of payment at a rate equal is received. If such failure to the lower of pay continues for sixty (i60) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journaldays after such payment is due, plus one percent (1%) per annum; Sunoco Partners, in addition to any other remedy it may have hereunder or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the rightotherwise, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims may suspend further service for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments Motiva under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of Agreement until such inaccuracy.undisputed amount is paid
Appears in 1 contract
Sources: Marine Dock and Terminaling Agreement (Sunoco Logistics Partners Lp)
Billing and Payment. 13.1 Company After receiving allocation information from Pipeline each Month, CBF shall furnish Monthly to Warren an invoice Shipper as near to the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month reflecting all applicable fees and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount charges due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇n shall pay to CBF the amounts due no later than (i) ten (10) D▇▇▇ shall have ▇▇ter Warren's receipt of invoice therefor, if the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies amount of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and same is fifty ▇▇▇▇▇▇▇▇ d dollars ($50,000) or more or (ii) fifteen (15) Days after receipt of invoice therefor, if the amount of same is less than fifty thousand dollars ($50,000). If the Day on which any payment is due is not a Business Day, then the relevant payment shall be conclusively presumed final and accurate and all associated claims for under payments due upon the immediately preceding Business Day, except if such payment due date is a Sunday or overpayments Monday, then the relevant payment shall be deemed waived unless due upon the immediately succeeding Business Day. Any amounts which remain due and owing after the due date shall bear interest thereon at the lower of the United States Treasury 90-Day T-Bill interest rate, as published in the Wall Street Journal on the f▇▇▇▇ Day such invoices rate is quoted at the beginning of each calendar quarter, plus thirteen (13%), or the maximum lawful rate of interest (the "Base Rate"). If a good faith dispute arises as to the amount payable in any statement, the amount not in dispute shall be paid. If Warren elects to withhold any payment otherwise due as a consequence ▇▇ ▇ good faith dispute, Warren shall provide CBF with written notice of its reasons for with▇▇▇▇▇▇g payment, and, if the amount of such invoice is equal to or greater than five thousand dollars ($5,000) or the total aggregate amount of all invoices in which Warren has withheld payment and is outstanding at any time is greate▇ ▇▇▇▇ are objected or equal to in writingtwenty five thousand dollars ($25,000), with adequate explanation and/or documentationWarren shall simultaneously place the disputed amount into an escrow ▇▇▇▇▇nt at a mutually acceptable commercial bank, within two (2) years after pending resolution of the month of gas deliverydispute. All retroactive adjustments under this Section Warren's election to withhold payment from CBF and escrow same as pr▇▇▇▇▇▇ ▇erein shall be paid in full by the party owing payment exercised within thirty (30) days Days from Warren's receipt of notice and substantiation the invoice giving rise to such good faith dispu▇▇. ▇▇▇▇r the thirty (30) Day period, Warren shall be required to pay CBF the full amount of the invoice w▇▇▇▇▇▇ or not there is a good faith dispute as to the amount payable. If it is subsequently determined, whether by mutual agreement of the Parties or otherwise, that (i) Warren is required to pay all or any portion of the disputed amounts ▇▇ ▇▇F or (ii) Warren is entitled to reimbursement for an invoice it paid, in addit▇▇▇ ▇▇ paying such inaccuracyamounts, the Party making such payment also shall pay interest accrued on such amounts at the Base Rate from (1) the original due date until paid in full, if Warren is required to pay, or (2) the date Warren paid the disputed ▇▇▇▇▇▇e until paid in full, if CBF is requi▇▇▇ ▇▇ pay.
Appears in 1 contract
Sources: Limited Partnership Agreement (Dynegy Energy Partners Lp)
Billing and Payment. 13.1 Company shall invoice Shipper as near to 4.1 As compensation for the 15th day of each month ("Billing Date") as is operationally feasible for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known Services provided by the Billing DateChoice One, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted to the actual quantity on the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit the amount due under Section 13.1 no more than five (5) days after receipt of Company's invoice ("Payment Date") in immediately available funds. If the Payment Date is not a Business Day, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper Skypath,Inc shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of recurring and non-recurring rates and charges set forth herein in Exhibit A attached hereto and/or in the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputedService Order. In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇Skypath,▇▇▇ fails agrees to remit pay the full amount payable when due, interest on appropriate recurring and non-recurring charges for the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company and ▇▇▇▇▇▇▇ shall have the rightServices, at their own expensethe address provided for herein, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days after the invoice date. The Parties shall provide one another with reasonably requested information for bill validation. Choice One shall invoice for all Services rendered within one hundred fifty (150) days of the scheduled billing date or shall forfeit the right to collect such charges. Choice One shall adjust any such charges from the Skypath,Inc's service charges.
4.2 Except for amounts disputed in the manner provided below, interest of one and one-half percent (1.5%) per month, may be charged on any balance not paid within thirty (30) days after the invoice date. If this interest rate exceeds the maximum rate allowable by law, then the interest chargeable shall be equal to the maximum rate allowable by law.
4.3 In the event Skypath,Inc disputes any billing by Choice One, Skypath,Inc shall notify Choice One in writing, providing the billing identification, Circuit number, any trouble ticket number and an explanation for the dispute, and shall nevertheless pay all charges not disputed in this manner within the thirty (30) day period specified above. No charges may be disputed more than thirty (30) days after the date such charges are invoiced. Payment shall not prejudice Skypath,Inc's right to dispute charges, so long as they are disputed in the manner and within the time specified in this section. The parties will cooperate in good faith to resolve any such disputes within sixty (60) days after the dispute is submitted to Choice One. If the dispute is not resolved during this period, either party may seek alternative dispute resolution in accordance with Article 23.
4.4 If Skypath,Inc does not pay undisputed invoiced charges within the thirty (30) day period specified above, Choice One may terminate Service and/or terminate the Agreement unless Skypath,Inc pays such charges within thirteen (13) days after a written termination notice is mailed to the Skypath,Inc postage pre-paid by Choice One. In addition, if Skypath,Inc does not pay undisputed invoiced charges within the thirty (30) day period specified above, Choice One may suspend the processing of any new or change orders until payment is received.
4.5 If a disputed amount is determined to be a legitimate charge, interest of one and substantiation one-half percent (1.5%) monthly may be charged on the unpaid balance from the original due date. If this interest rate exceeds the maximum rate allowable by law, then the interest chargeable shall be equal to the maximum rate allowed by law.
4.6 Monthly recurring charges shall be invoiced by Choice One on a monthly basis in advance and non-recurring charges shall be invoiced in arrears. When Service is initiated on other than the first day of such inaccuracythe month or terminates on other than the last day of the month, the charge for that month shall be determined by prorating the monthly payment by the number of days during which Service was provided.
Appears in 1 contract
Sources: Wholesale Services Agreement (Skypath Networks Inc)
Billing and Payment. 13.1 Company 9.1 On or before the fifteenth (15th) day following the month in which deliveries of Gas were made hereunder, Seller shall invoice Shipper as near deliver to the 15th day of each month ("Billing Date") as is operationally feasible Buyer a statement for transportation during the preceding month properly identified as to the Delivery Point and for any other applicable chargesshowing the total volume of Gas delivered and the amount due. If the actual quantity volume delivered is not known available by the Billing Datecontractual billing date, billing shall will be prepared based on the quantity nominated by Shipper or Company’s estimateScheduled quantities. The invoiced quantity shall estimated volume will then be adjusted corrected to the actual quantity volume on the following month's ’s billing or as soon thereafter as actual delivery information is available.
13.2 Shipper 9.2 Unless a different payment method is specified in the Confirmation Notice, Buyer shall remit the full amount due under Section 13.1 no more than five in Dollars by electronic funds transfer pursuant to Seller’s invoice instructions, on or before the later of (5i) the twenty-fifth (25th) Day of the Month immediately following the delivery Month or (ii) ten (10) days after receipt of Company's the invoice ("Payment Date") in immediately available funds. If the Payment Date by Buyer; provided that if such date is not a Business Day, payment is due on the next Business Day following that dateDay.
13.3 If Shipper, in good faith, disputes the amount or any part of such invoice, then Shipper shall pay such amount as it concedes to be correct; provided, however, if Shipper disputes the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputed. 9.3 In the event the parties are unable to resolve such dispute, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this Section.
13.4 If ▇▇▇▇▇▇▇ a Party fails to remit pay the full amount payable by it when due and absent a bona fide dispute as to whether such amount is due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate Interest Rate from the date due until the date of interest published under "Money Rates" by The Wall Street Journalpayment, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 Company 9.4 The Parties agree to discharge mutual debts and ▇▇▇▇▇▇▇ payment obligations due and owing to each other whether arising under this Master Agreement or any other agreement, but limited to natural gas transactions only, between the Parties through netting. Therefore, all amounts owed by one Party to the other Party during any given month arising from natural gas transactions will be netted against the amount owed by the other Party under such transactions. The Party owing the greater amount shall pay the difference to the other Party and notify the other Party of the amount netted using the invoice and payment procedures described herein.
9.5 Each of the Parties, at its own expense, shall have the right, at their own expense, upon reasonable notice and at reasonable times, to examine the books and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings records of the other party only to the extent reasonably necessary to verify the accuracy of any statement, payment, demand, charge, payment, or computation made under the any Agreement. All invoices If either Party has documentation from its Transporter(s), which is needed by the other Party in this regard, it shall provide such information upon request. Any such audit and ▇▇▇▇▇▇▇▇ shall any claim based upon errors in any statement must be conclusively presumed final and accurate and all associated claims for under payments or overpayments shall be deemed waived unless such invoices or ▇▇▇▇▇▇▇▇ are objected to in writing, with adequate explanation and/or documentation, made within two (2) years after of the month date of gas deliverysuch statement or last revision thereof. All retroactive adjustments under this Section Neither Party shall have the right to perform more than (2) such audits per calendar year. Such right to audit shall be paid available for the term of this Agreement and for two (2) years after its termination.
9.6 In the event an error is discovered in full the amount billed in any invoice rendered hereunder such error shall be rectified by payment within ten (10) days after notice of the discovery of the error. In the event a dispute arises as to the amount payable in any invoice rendered hereunder, Buyer shall nevertheless pay when due the amount not in dispute under such invoice, and shall provide written notice to Seller indicating the disputed amount and the reason for such dispute. In the event a difference for volumes cannot be reconciled, payment shall be based upon the receipt volumes allocated to the shipper’s transportation contract(s) with the Transporter. During this time of reconciliation, there shall be no late charges or interest imposed on the Buyer related to payment for such difference, unless interest charges are being applied by the party owing affected Transporter. Such payment within thirty (30) days shall not be deemed to be a waiver of notice and substantiation the right by Buyer to recoup any overpayment, nor shall acceptance of such inaccuracyany payment be deemed to be a waiver by Seller of any underpayment.
Appears in 1 contract
Billing and Payment. 13.1 Company shall invoice Shipper as near to 8.1 On or before the 15th day following the month of each month ("Billing Date") as is operationally feasible deliveries of gas hereunder, Seller shall deliver to Buyer an invoice accompanied by a statement for transportation during the preceding month and for any other applicable charges. If the actual quantity delivered is not known by the Billing Date, billing shall be prepared based on the quantity nominated by Shipper or Company’s estimate. The invoiced quantity shall then be adjusted properly identified as to the actual quantity on delivery location, showing the following month's billing or as soon thereafter as actual delivery information is available.
13.2 Shipper shall remit daily and total volume of gas delivered, the amount due under Section 13.1 no more than and information sufficient to explain and support any calculations made by Seller in determining the amount billed (i.e., pipeline volume statement).
8.2 Buyer will pay Seller at the address as shown hereunder by the later of: (i) fifteen (15) days following receipt of invoice, (ii) the twenty fifth (25th) day of the second month following deliveries, (iii) five (5) days after following receipt of Company's invoice all signed Agreements and/or PURCHASE NOMINATION NOTICES, or ("Payment Date"iv) in immediately available fundsfive (5) days following receipt of a verifiable supporting statement. If any overcharge or undercharge in any form whatsoever shall at any time be found and the Payment Date is not a Business Day▇▇▇▇ therefore has been paid, payment is due on the next Business Day following that date.
13.3 If Shipper, in good faith, disputes Seller shall refund the amount or any part of such invoice, then Shipper the overcharge received by Seller and Buyer shall pay such the amount as it concedes to be correctof the undercharge within thirty (30) days after final determination thereof; provided, however, if Shipper disputes no retroactive adjustment will be made for any overcharge or undercharge beyond a period of twenty-four (24) months from the amount due, it must provide Company with written notice of the basis for the disputed amount and supporting documentation acceptable in natural gas industry practice to support the amount paid and the amount disputeddate a discrepancy occurred. In the event a dispute arises as to the parties are unable amount payable in any statement rendered, Buyer shall nevertheless pay the amount not in dispute to resolve such Seller pending resolution of the dispute. If it is determined that Buyer owes Seller the disputed amount, either party may pursue any remedy available at law or in equity to enforce its rights pursuant to this SectionBuyer will pay Seller that amount.
13.4 If 8.3 Every notice, request, statement or ▇▇▇▇ provided for in this Agreement shall be in writing directed to the party to whom given, made or delivered at such party's address as set forth below and as such address may be changed from time to time with written notice to the other party. NOTICES/CORRESPONDENCE & PAYMENTS: SELLER: Energas Corporation ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ - ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇ fails to remit the full amount payable when due, interest on the unpaid portion shall accrue from the date due until the date of payment at a rate equal to the lower of (i) the then-effective prime rate of interest published under "Money Rates" by The Wall Street Journal, plus one percent (1%) per annum; or (ii) the maximum applicable lawful interest rate.
13.5 ▇▇▇▇▇ NOTICES/CORRESPONDENCE & INVOICES: BUYER: Energas Pipeline Company and ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ - ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇ shall have the right, at their own expense, upon reasonable notice at reasonable times, to examine and audit and to obtain copies of the relevant portion of the books, records, and telephone recordings of the other party only to the extent reasonably necessary to verify the accuracy of any statement, charge, payment, or computation made under the Agreement. All invoices and ▇▇▇▇▇▇▇▇ shall be conclusively presumed final and accurate and all associated claims for under payments
8.4 If Seller's title is questioned or overpayments shall be deemed waived unless involved in any action, Buyer may withhold payment (without interest) of sums due hereunder up to the amount of the claim until title is free from such invoices questions or ▇▇▇▇▇▇▇▇ are objected such action is finally determined, or until such time as Seller furnishes bond conditioned with sureties satisfactory to in writing, with adequate explanation and/or documentation, within two (2) years after the month of gas delivery. All retroactive adjustments under this Section shall be paid in full by the party owing payment within thirty (30) days of notice and substantiation of such inaccuracyBuyer to save Buyer harmless.
Appears in 1 contract