Deficiencies in Payment Sample Clauses

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Deficiencies in Payment. Without limiting the remedies available to the MTA under this License Agreement or Applicable Law, if as a result of an audit or examination, the MTA determines that the Concessionaire has not made the full payments required hereunder for the period for which such examination is made, the Concessionaire shall pay the amount of the deficiency as determined by the MTA within ten (10) days after written notice and demand by the MTA. Such payment shall be made notwithstanding that the Concessionaire may contest the correctness of the MTA’s assessment, and no such payment shall bar the Concessionaire from disputing or contesting the MTA’s deficiency determination. Such disputes or contests hereunder shall be resolved pursuant to the alternative dispute resolution mechanism described in Section 22 (Dispute Resolution). The Concessionaire further agrees that it shall remit, without notice from the MTA, any compensation due pursuant to this License Agreement for any unreported and/or excessive deductions identified by the Concessionaire's independent certified public accountant.
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Related to Deficiencies in Payment

  • Default in Payment Any payment not made within ten (10) business days after it is due in accordance with this Agreement shall thereafter bear interest, compounded annually, at the prime rate in effect from time to time at Citibank, N.A., or any successor thereto. Such interest shall be payable at the same time as the corresponding payment is payable.

  • ALL-IN PAYMENTS It is agreed all-in payments breach the award and this Agreement. All-in payments to employees will not be made. Where it is alleged all-in payments are being made, the provisions of the VBIA shall apply.

  • Delay in Payment Notwithstanding anything else to the contrary in this Agreement, the BEP, or any other plan, contract, program or otherwise, the Company (and its affiliates) are expressly authorized to delay any scheduled payments under this Agreement, the BEP, and any other plan, contract, program or otherwise, as such payments relate to the Executive, if the Company (or its affiliate) determines that such delay is necessary in order to comply with the requirements of Section 409A of the Internal Revenue Code. No such payment may be delayed beyond the date that is six (6) months following the Executive’s separation from service (as defined in Section 409A). At the end of such period of delay, the Executive will be paid the delayed payment amounts, plus interest for the period of any such delay. For purposes of the preceding sentence, interest shall be calculated using the six (6) month Treasury ▇▇▇▇ rate in effect on the date on which the payment is delayed, and shall be compounded daily. If the conditions of the severance exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) (or any successor Regulation thereto) are satisfied, payment of benefits shall not be delayed for six (6) months following termination of employment to the extent permitted under the severance exception.

  • CALL-IN PAY 14.01 An employee who is called in to work outside their regularly scheduled hours shall be paid a minimum of four (4) hours pay at their applicable rate whenever there is a break between the employee's regularly scheduled hours and the work the employee is called to perform.

  • Report-In Pay An employee who reports to work on a regularly scheduled workday without previous notice not to report shall receive a minimum of four (4) hours work or four (4) hours pay in lieu thereof at the applicable hourly rate.