Common use of Overpayment and Underpayment Clause in Contracts

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].