Common use of Credit if Fees Overpaid Clause in Contracts

Credit if Fees Overpaid. If the schedules provided by the Contractor to the Airports Authority pursuant to Section 5.03 A. with respect to any Contract Year indicate that the amount of Percentage Gross Receipt Fee which the Contractor actually paid to the Airports Authority with respect to such Contract Year was greater than the amount of the Percentage Gross Receipt Fees due and owing for that Contract Year under the terms of this Contract, then the amount of such excess shall, at the option of the Airports Authority, either be paid in lump sum within a ninety (90) Day period or credited to the Percentage Gross Receipt Fee next due and owing from the Contractor to the Airports Authority, unless the period of the Contract has expired, in which event the Airports Authority will promptly refund such amount to the Contractor.