Correction Of Payments Clause Samples

Correction Of Payments. Once Annuity Payments have begun and we later discover that the age or sex of an Annuitant or Contingent Annuitant has been misstated, the payment shall be adjusted based on the correct age and sex from the date payments began. If we underpaid, we will pay the underpaid amount in full with the next Annuity Payment. If we overpaid, we shall deduct the overpayments from future Annuity Payments until we are repaid in full.
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Correction Of Payments. At any time and from time to time, Council may correct any error which has been discovered in any previous payments made. Without limiting the above or any other part of the document, at the time of each Tax Invoice and of any payments made under the document and at any other time Council (in consultation with the Contractor if requested by Council) may undertake a reconciliation of payments made to a relevant date and may make any adjustments to those payments and Council may give further notice of approval, non approval or of adjustment to any prior or subsequent payments made.
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Correction Of Payments. MBI may at any time correct any error which has been discovered in any previous payments made. Without limiting the above or any other part of the document, at the time of each Tax Invoice and of any payments made under the document and at any other time MBI (in consultation with the Consultant if requested by MBI) may undertake a reconciliation of payments made to a relevant date and may make any adjustments to those payments and MBI may give further notice of approval, non approval or of adjustment to any prior or subsequent payments made.
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Correction Of Payments. To the extent that you owe any amounts to Distributor as a consequence of this agreement, Distributor shall have the right to deduct all or a portion of such amounts from any Digital Fees otherwise then payable to you. In the event that Distributor overpays royalties, such as in cases when fraudulent or unauthorized purchases are charged back to Distributor after payments are made, then Distributor will deduct the funds owed from monies payable to you hereunder. If the amount owed exceeds your accrued monies, you agree to remit a payment back to Distributor within 20 days of notification to adjust the overpayment.
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Correction Of Payments. If the Lessee pays an amount and it is found later that the amount was not correct, then even if the Lessor has given the Lessee a receipt, the Lessee must pay the Lessor (or the Lessor must credit the Lessee with) the difference between what the Lessee has paid and what the Lessee should have paid within 14 days after either party gives the other a notice about the mistake and the party receiving the notice agrees that a mistake has been made.
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Related to Correction Of Payments

  • Collection of Payments Borrower authorizes Bank to collect all principal, interest and fees due under each credit subject hereto by charging any deposit account maintained by Borrower with Bank, for the full amount thereof. Should there be insufficient funds in any such deposit account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by Borrower.

  • Reduction of Payments Any reduction under Subsection (b) above shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied on a pro rata basis to all such Payments. Subject to the foregoing rules, the Employee may elect, in the Employee’s sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall advise the Company in writing of the Employee’s election within 10 business days of receipt of notice. If no such election is made by the Employee within such 10-day period, then the Company may elect which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Employee promptly of such election. For purposes of this Section 3, a present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Accounting Firm under this Section 3 shall be binding upon the Company and the Employee and shall be made within 10 business days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Employee such amounts as are then due to the Employee and shall promptly pay or transfer to or for the benefit of the Employee in the future such amounts as become due to the Employee.

  • Application of Payments Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect.

  • Allocation of Payments The Assignor and the Assignee agree that (i) the Assignor shall be entitled to any payments of principal with respect to the Assigned Interest made prior to the Assignment Date, together with any interest and fees with respect to the Assigned Interest accrued prior to the Assignment Date, (ii) the Assignee shall be entitled to any payments of principal with respect to the Assigned Interest made from and after the Assignment Date, together with any and all interest and fees with respect to the Assigned Interest accruing from and after the Assignment Date, and (iii) the Agent is authorized and instructed to allocate payments received by it for account of the Assignor and the Assignee as provided in the foregoing clauses. Each party hereto agrees that it will hold any interest, fees or other amounts that it may receive to which the other party hereto shall be entitled pursuant to the preceding sentence for account of such other party and pay, in like money and funds, any such amounts that it may receive to such other party promptly upon receipt.

  • Calculation of Payments The State shall use the fee schedule set forth in Attachment E to the contract (Fee Schedule) in determining the value of the work performed up to the time of termination. In the case of partially completed engineering services, eligible costs will be calculated as set forth in Attachment E, Fee Schedule. The sum of the provisional overhead percentage rate for payroll additives and for general and administrative overhead costs during the years in which work was performed shall be used to calculate partial payments. Any portion of the fixed fee not previously paid in the partial payments shall not be included in the final payment.