Common use of Overpayments; Underpayments Clause in Contracts

Overpayments; Underpayments. In the case of any underpayment by BCI to an Executor for the redemption of Stock arising from the final determination of the value of the Stock for federal estate tax purposes, BCI will pay to the Executor, in cash, within sixty days of the receipt of the final value, the difference between the Initial Redemption Price and the Redemption Price as finally determined, plus interest thereon per annum at the rate assessed such Executor from time to time by the internal Revenue Service from the date of such initial payment to the date of such subsequent payment. In the case of an over valuation of the Stock, the Executor will pay the amount of the overpayment, together with per annum interest at such rate to BCI, determined as above in the case of underpayment.