Post Payment Audit Clause Samples

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Post Payment Audit. It is an agreed term of contract that the Railway reserves to itself the right to carry out a post-payment audit and/ or technical examination of the works and the Final Bill including all supporting vouchers, abstracts etc. and to make a claim on the Contractor for the refund of any excess amount paid to him till the release of security deposit or settlement of claims, whichever is later, if as a result of such examination any over-payment to him is discovered to have been made in respect of any works done or alleged to have been done by him under the contract.
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Post Payment Audit. Costco (or a designated affiliate) reserves the right to conduct post payment audits of Supplier. In most cases, post payment audits take place within three years of either a singular transaction or the completion of a contractual program. If an audit indicates noncompliance with transaction or contractual requirements, Costco reserves the right to extend the audit time frame beyond three years. Supplier agrees to provide supporting documentation and related information upon Costco’s request.
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Post Payment Audit. 4.1 The Owner reserves the right to carry out a post payment audit and/or technical examination of the work, and the final ▇▇▇▇, including all supporting voucher abstracts etc., and to enforce recovery, if any, found as a result of such examination, any over payment if discovered in respect of work done and/or alleged to be have been done by the O&M Partner under the Contract, and such recovery will be made by the Owner, using any or all of the methods or modes prescribed herein. If, on the other hand, any under payment is discovered, the amount shall be duly paid to the O&M Partner by the Owner. Further, the Owner reserves the right to make such recoveries and adjustments notwithstanding the fact that the amount of the final ▇▇▇▇ may be included by one of the parties as an item of dispute. Further, unless the O&M Partner pays and clears the claims of the Owner immediately on demand, the Owner shall at all times be entitled to deduct the sum due from the O&M Partner from its ▇▇▇▇, or from the security deposit amount, which may have become payable or will become payable to the O&M Partner under these presents or under any other contract or transaction whatsoever between the O&M Partner and the Owner.
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Post Payment Audit. If as a result of any Action by a Governmental Authority the aggregate Actual Unit Sale Taxes is determined pursuant to a “final determination” within the meaning of Section 1313(a) of the Code to differ from the amount set forth in the Final Tax Adjustment Statement resulting in a corresponding increase or decrease in the Tax Adjustment Amount contained in such statement (“Modified Tax Adjustment Amount”), HTA Holdings or the Charity, as applicable, shall promptly notify Buyer in writing of the amount of such Actual Unit Sale Taxes and any Modified Tax Adjustment Amount. Within five (5) Business Days of receipt of such notice, Buyer shall pay to the HTA Holdings Owners or the Charity, as applicable, the amount of the excess of the Modified Tax Adjustment Amount over the Tax Adjustment Amount contained in the Final Tax Adjustment Statement and the HTA Holdings Owners or the Charity, as applicable, shall pay to Buyer the excess of the Tax Adjustment amount contained in the Final Tax Adjustment Statement over the Modified Tax Adjustment Amount and any interest, penalties or other costs assessed by the Governmental Authority. Notwithstanding any other provision to the contrary in this Agreement (including this Section 6.7(e)), the obligations of the HTA Holdings Owners or the Charity, as applicable, and Buyer to make any payment to the other Party with respect to the Tax Adjustment Amount or the Modified Tax Adjustment Amount shall expire on the fourth anniversary of the Closing Date (other than (I) with respect to any Action commenced by the applicable Governmental Authority on or prior to such fourth anniversary of the Closing Date provided that the Buyer has received written notice of such Action on or prior to such date and (II) with respect to an assessment described in Schedule 6.7(e)(II) of the Disclosure Schedules (such an assessment, a “Tax Assessment”), which obligations will survive until the statute of limitations on such Tax Assessment has expired, plus 60 days.)
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Post Payment Audit. Packaging will conduct post-payment auditing of expense reports and associated receipt packages pursuant to mutually agreed upon performance documentation standards. Packaging will notify Tenneco employees and the designated Tenneco management representative of violations to the performance documentation standards and follow-up with the Tenneco employees to assure compliance.
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Related to Post Payment Audit

  • Interest Payment and Computation Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter commencing December 31, 2011; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto, and if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

  • First Payment As of the Cut-off Date, the related Obligor has made the initial payment on such Receivable. Servicing System Records/Data File i) Review servicing system records and confirm that the Obligor has made at least one payment on the Receivable. ii) If confirmed, then Test Pass

  • Interest Payment Frequency   Interest Payment Dates Monthly Fifteenth day of each calendar month, beginning in the first calendar month following the month this Note was issued. Quarterly Fifteenth day of every third calendar month, beginning in the third calendar month following the month this Note was issued. Semi-annual Fifteenth day of every sixth calendar month, beginning in the sixth calendar month following the month this Note was issued. Annual Fifteenth day of every twelfth calendar month, beginning in the twelfth calendar month following the month this Note was issued.

  • Interest Payment For each Interest Payment Date the amount of interest due with respect to the Class A(2018-3) Notes shall be an amount equal to (i) (A) a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 360, times

  • Deferrals of Interest Payment Dates So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time during the term of the Securities, from time to time to defer the payment of interest on such Securities for such period or periods (each an "Extension Period") not to exceed the number of consecutive quarterly periods that equal five years with respect to each Extension Period, during which Extension Periods the Company shall have the right to make partial payments of interest on any Interest Payment Date. No Extension Period shall end on a date other than an Interest Payment Date. At the end of any such Extension Period, the Company shall pay all interest then accrued and unpaid on the Securities (together with Additional Interest thereon, if any, at the rate specified for the Securities to the extent permitted by applicable law); provided, however, that no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities; and provided further, however, that, during any such Extension Period, the Company shall not (i) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock, or (ii) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank pari passu in all respects with or junior in interest to the Securities (other than (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more employees, officers, directors or consultants, in connection with a dividend reinvestment or stockholder stock purchase plan or in connection with the issuance of capital stock of the Company (or securities convertible into or exercisable for such capital stock) as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (b) as a result of an exchange or conversion of any class or series of the Company's capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company's capital stock or of any class or series of the Company's indebtedness for any class or series of the Company's capital stock, (c) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged, (d) any declaration of a dividend in connection with any Rights Plan, or the issuance of rights, stock or other property under any Rights Plan, or the redemption or repurchase of rights pursuant thereto, or (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks pari passu with or junior to such stock). Prior to the termination of any such Extension Period, the Company may further defer the payment of interest, provided that no Event of Default has occurred and is continuing and provided further, that no Extension Period shall exceed the period or periods specified in such Securities, extend beyond the Stated Maturity of the principal of such Securities or end on a date other than an Interest Payment Date. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest then due on any Interest Payment Date, the Company may elect to begin a new Extension Period, subject to the above conditions. No interest or Additional Interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during such Extension Period shall bear Additional Interest. The Company shall give the Holders of the Securities and the Trustee notice of its election to begin any such Extension Period at least one Business Day prior to the next succeeding Interest Payment Date on which interest on Securities would be payable but for such deferral or, with respect to any Securities issued to the Issuer Trust, so long as any such Securities are held by the Issuer Trust, at least one Business Day prior to the earlier of (i) the next succeeding date on which Distributions on the Preferred Securities of the Issuer Trust would be payable but for such deferral, and (ii) the date on which the Property Trustee of the Issuer Trust is required to give notice to holders of such Preferred Securities of the record date or the date such Distributions are payable, but in any event not less than one Business Day prior to such record date. The Trustee shall promptly give notice of the Company's election to begin any such Extension Period to the Holders of the Outstanding Securities.