Common use of Monthly True Up Clause in Contracts

Monthly True Up. Not later than [***] following the end of each month, Contractor and United shall determine the net amount due to Contractor for such month (the “Net Monthly Payment Amount”) after taking into account all of the payments to which Contractor is entitled, as well as all of the credits to which United is entitled, in each case pursuant to the terms and conditions set forth in Schedule 3. As applicable, (i) if the Net Monthly Payment Amount is positive, then United shall pay such amount to Contractor on or before the [***] following the end of the month applicable to the Net Monthly Payment Amount (or if such day is not a Business Day, the next Business Day), or (ii) if the Net Monthly Payment Amount is negative, then the absolute value of such amount shall, at United’s election exercisable in its sole discretion by delivery of written notice to Contractor, either (x) be paid by Contractor to United or (y) set off by United against any other amounts owed by United to Contractor under this Agreement or any Ancillary Agreement.