Retroactive Settlements Clause Samples
The Retroactive Settlements clause allows parties to adjust previously agreed payments or obligations based on new information or recalculations that come to light after the original settlement. In practice, this means that if an error is discovered in an earlier invoice or if actual costs differ from estimates, the parties can revisit and correct those amounts, ensuring that payments reflect the true situation. This clause is essential for maintaining fairness and accuracy in ongoing contractual relationships, as it provides a mechanism to address discrepancies and prevent disputes over past transactions.
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Retroactive Settlements. Settlements reached at any stage of the grievance procedure shall be applied retroactively to the date of the occurrence of the action or situation which gave rise to the grievance or the date set by the Arbitrator.
Retroactive Settlements. The settlement of a grievance without reference to arbitration shall be applied retroactively to the date of the occurrence of the action or situation which gave rise to the grievance, unless the settlement states otherwise.
Retroactive Settlements. Settlements reached at any step of the grievance procedure in this article, other than Clause 11.13 (Policy Grievance), will be applied retroactively to the date of the occurrence or situation which gave rise to the grievance, but not prior to the effective date of the agreement in effect at the time of the occurrence or the date set by a board of arbitration.
Retroactive Settlements. The Association’s Grievance Committee and OC shall jointly determine the date of application of the settlement of the grievance. The settlement may be applied retroactively to the date of the occurrence of the situation which gave rise to the grievance or the settlement may be applied in a different manner which is consistent with the intent of clause
Retroactive Settlements. Settlement of grievance occurrences due to unawareness shall not be retroactive to any date prior to the date offiling.
Retroactive Settlements. The Employer shall not be required to pay back wages for periods prior to the time the incident occurred provided that in the case of a pay shortage, of which the employee had not been aware before receiving their pay, any adjustments made shall be retroactive to the beginning of that pay period providing the employee files their grievance within five (5) working days after receipt of such pay.
Retroactive Settlements. If any third-party payor, Medicare or Medicaid reduces any amount payable to Buyer in connection with the retroactive settlement which reduction results from services provided by Operator at the Facility prior to the Effective Time, Operator and each Shareholder agrees to reimburse Buyer, within 15 days of delivery of notice to Operator from Buyer, the amount of such reduction that results from the services provided by Operator prior to the Effective Time (a "Retroactive Obligation"). Similarly, if any third-party payor, Medicare or Medicaid increases any amount payable to Buyer in connection with a retroactive settlement, which increase relates to services provided by Operator at the Facility prior to the Effective Time, Buyer agrees to remit to Operator, within ten days of receipt of such payment, the amount of such increase that results from the services provided by Operator prior to the Effective Time (a "Retroactive Payment"). Buyer agrees to promptly notify Operator and Shareholders of any Retroactive Obligation in order that Operator may appeal, and Buyer further agrees to cooperate with Operator in any such appeal.
Retroactive Settlements. Grievance settlements shall be applied retroactively to the date of the incident giving rise to the grievance. Union representative shall mean a bona fide member of the Local Union.
Retroactive Settlements. All retroactive payments agreed upon or awarded as a result of a final decision on a Grievance, shall be disposed of at that Step in the Grievance Procedure in which settlement is reached, in the following manner:
1. The respective Representatives of the Parties shall mutually agree upon the basis for computing the amount of such retroactive payment.
2. The Company shall then compute the amount of such retroactive payment, and after obtaining the approval of the appropriate Union Representative, thereon, the effective date for payment shall be stipulated by the respective Representative of the Parties.