Overpayment and Underpayment Sample Clauses

Overpayment and Underpayment. In the event of borrower overpayment, payment above outstanding principle and interest of less than or equal to $50.00 will not be repaid to the credit union based on transaction costs. Payment above outstanding principle and interest of more than $50.00 will be repaid to the credit union. In the event of borrower underpayment, NCUA will write-off outstanding principle and interest payments of less than or equal to $50.00. However, underpayments of more than $50.00 will be pursued.

Overpayment and Underpayment. If Seller receives a settlement payment from CBQ that is greater than the Amount Due, Seller shall refund the amount of the overpayment to CBQ within thirty (30) days of Seller's receipt of a CBQ invoice and records showing proof of overpayment. In the event of an underpayment by CBQ, Seller agrees to submit to CBQ an invoice which contains the applicable Buyer Order number, the manufacturer (if applicable), the items description or serial number (if applicable), the payment amount, the debit amount, and the tax amount. CBQ shall pay any undisputed sums therefor within thirty (30) days from CBQ's receipt of such invoice.

Overpayment and Underpayment. If the Annual Contribution paid by [AIRLINE] during any Term Year exceeded the amount of Annual Contribution payable (the excess payment being the “Overpayment”) or was less than the amount of Annual Contribution payable (the deficiency being the “Underpayment”), [AIRLINE], as the case may be, either (i) shall pay the Lessee any Underpayment in monthly installments evenly over the balance of the then-current year (i.e. the year in which the Statement of Actual Annual Contribution is provided to [AIRLINE]) to allow the Lessee to recover any Underpayment by [AIRLINE] or (ii) shall recover its Overpayment by monthly reductions in its monthly payments to the Lessee evenly over the balance of the then-current year (i.e. the year in which the Statement of Actual Annual Contribution is provided to [AIRLINE]) to compensate [AIRLINE] for any Overpayment to the Lessee. With respect to the Term Year in which this Agreement is terminated, any Underpayments or Overpayments, as the case may be, resulting from such Term Year shall be due and payable by [AIRLINE] to the Lessee or by the Lessee to [AIRLINE], as the case may be, within 10 business days after the Lessee provides the Statement of Actual Annual Contribution to [AIRLINE].

Overpayment and Underpayment a. If the school department discovers an overpayment in an employee's salary, the employee will be notified in writing by the Business Manager at the employee's home address by registered mail as soon as practical after the overpayment is discovered. The Business Manager and employee will mutually agree to a repayment schedule. If the school department discovers an underpayment in the employee's salary, the employee will be notified in writing by the Business Manager at the employee's home address by registered mail as soon as practical after the underpayment is discovered. The Business Manager will facilitate payment for the next scheduled payment period.

Overpayment and Underpayment. 66.1 In the event that an employee receives wages or benefits from the City to which the employee is not entitled, regardless of whether the employee knew or should have known of the overpayment, the City shall notify the employee in writing of the overpayment which will include information supporting that an overpayment exists and the amount of wages and/or benefits to be repaid. For purposes of recovering overpayments by payroll deduction, the following shall apply: 66.2 The City may, at its discretion, use the payroll deduction process to correct any overpayment made within a maximum period of two (2) years before the notification. 66.3 Where this process is utilized, the City and the employee, and the Association if requested by the employee, shall meet and attempt to reach mutual agreement on a repayment schedule within thirty (30) calendar days following written notification. 66.4 If there is no mutual agreement at the end of the thirty (30) calendar day period, the City shall implement the repayment schedule stated in 66.5 below. 66.5 If the overpayment amount to be repaid is more than five percent (5%) of the employee’s regular monthly base salary, the overpayment shall be recovered in monthly amounts not exceeding five percent (5%) of the employee’s regular monthly base salary. If an overpayment is less than five percent (5%) of the employee’s regular monthly base salary, the overpayment shall be recovered in a lump sum deduction from the employee’s paycheck. If an employee leaves City service before the City fully recovers the overpayment, the remaining amount may be deducted from the employee’s final check. 66.6 An employee who disagrees with the City’s determination that an overpayment has been made to the employee may grieve the determination through the grievance procedure. In the event a grievance is filed, recoupment deductions will be held in abeyance pending resolution of the grievance. 66.7 This article does not waive the City’s right to pursue its legal rights to recoup an overpayment where the employee is no longer in pay status, but does agree that it will attempt to use the procedures outlined in this article before pursuing those rights. 66.8 If an employee discovers an overpayment, the employee or Association may contact Labor Relations to identify the overpayment issue.

Overpayment and Underpayment. (a) Should the Employer issue an Employee an overpayment/underpayment of wages and/or entitlements, then the Employer may make the necessary monetary or entitlement adjustments. The Employer shall take such internal administrative action as is necessary to correct such errors, providing such corrective action is taken within six (6) months of the overpayment/underpayment. (b) In the event an Employee is overpaid, the Employer shall notify the Employee, in writing, that an overpayment has been made and discuss repayment options. By mutual agreement between the Employer and the Employee, repayment arrangements shall be made. In the event mutual agreement cannot be reached, the Employer shall recover the overpayment by deducting up to twenty percent (20%) of the Employee’s gross earnings per pay period. (c) In the event an Employee is underpaid, the Employee shall notify the Employer in writing, that an underpayment has been made. If the amount of the underpayment is in excess of two hundred dollars ($200.00) the full amount will be paid to the Employee within five (5) business days. If the amount of the underpayment is less than two hundred dollars ($200.00) the full amount will be paid to the Employee in the pay period following the date on which the error come to the Employer’s attention.

Overpayment and Underpayment. A. Should an employee become aware of an overpayment or underpayment, the employee will provide timely notification to the District’s payroll office. In the event the District identifies an overpayment or underpayment the District will notify the employee of the error. Errors made in payment will be corrected in the current payroll period when possible, or the next payroll period(s). B. Employees who receive an overpayment by the District will have the following options for repayment: 1. Lump sum repayment 2. Equal payments to be completed by the end of the school year 3. Equal payments spread over one (1) year C. If the option to pay the overpayment in multiple payments is exercised, the minimum repayment amount will be $25 per month until the residual amount is less than $25. The residual amount shall be paid in full. D. If an employee who receives an overpayment separates from employment, the repayment amount will be due in full and deducted from the final payroll earnings statement. Repayment will begin in the pay warrant following individual notification that such repayment is necessary. E. Employees receiving an underpayment shall be retroactively paid back to the start of the underpayment. The District will provide a separate payment to the employee on payday to correct the underpayment(s).

Overpayment and Underpayment. As a result of uncertainty and complexities in applying Section 4999 of the Code, it is possible that there may be an Overpayment or an Underpayment. If the Accounting Firm, the Company (which includes the position taken by the Company or any of its affiliates (as constituted from time to time, the “Group”) on its federal income tax return), the Internal Revenue Service, or a court determines that there has been an Underpayment, the Company will pay you the Underpayment within 10 days of determination (but in any event no later than by the end of your taxable year next following the taxable year in which the Underpayment is remitted), together with interest at the applicable federal rate (as defined in Section 1274(d) of the Code) for the term of the Underpayment. If a final determination of a court or an Internal Revenue Service proceeding (that has been finally and conclusively resolved) establishes that there has been an Overpayment, the Overpayment will be deemed for all purposes to be a loan to you that was made on the date you received the Overpayment. You agree to repay the Overpayment on demand.

Overpayment and Underpayment. Overpayment – If any error occurs requiring an employee to pay back to the employer any amount, such amount can be paid directly by the employee or withheld through payroll deduction. Such payroll deduction shall not exceed more than five percent (5%) of the employee's average paycheck and without a written agreement between the employee and the District. Underpayment – Any paycheck with an underpayment will be remedied by payment within two (2) business days following identification of the underpayment.