Subsequent Payment Adjustments Clause Samples

The "Subsequent Payment Adjustments" clause establishes the process for modifying payment amounts after initial payments have been made under a contract. This clause typically applies when circumstances change, such as the discovery of errors, changes in scope, or adjustments due to regulatory requirements, and it outlines how overpayments or underpayments are to be corrected. Its core function is to ensure that both parties are fairly compensated and that financial discrepancies are resolved efficiently, thereby maintaining accuracy and fairness in the contractual relationship.
Subsequent Payment Adjustments. The Parties understand that in certain cases monthly ▇▇▇▇▇▇▇▇ will need to be made on an estimated basis, including with respect to the calculation of Energy Cost for each of the OPC Resources. In addition, the Parties understand that after the fact adjustments to amounts owed or revenues received may be made pursuant to the CSA or other OPC Contracts, which adjustments may affect the Energy Cost and associated amounts payable by LPM to OPC under this Agreement. Each Party shall cooperate in good-faith with the other Party to obtain the requisite information and perform the necessary computations so as to "true-up" or otherwise adjust any estimated or adjusted ▇▇▇▇▇▇▇▇ promptly.
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Subsequent Payment Adjustments. 20 8.6 Records................................................20
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Subsequent Payment Adjustments. 16 8.6. Records ......................................................16 Article 9. Taxes .............................................................17 9.1. Seller's Obligation...........................................17 9.2. Buyer's Obligation............................................17 9.3. Exemption Certificates........................................17 9.4. [**] .........................................................17 ** Material has been omitted pursuant to a request to the Commission for confidential treatment and has been filed separately with the Commission.
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Subsequent Payment Adjustments. The Parties understand that in certain cases monthly ▇▇▇▇▇▇▇▇ will need to be made on an estimated basis, including with respect to the calculation of Energy Cost for each of the OPC Resources. Each Party shall cooperate in good-faith with the other Party to obtain the requisite information and perform the necessary computations so as to "true-up" any estimated ▇▇▇▇▇▇▇▇ promptly.
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Subsequent Payment Adjustments. The Parties understand that Monthly ▇▇▇▇▇▇▇▇ will need to be made on an estimated basis. In addition, the Parties understand that after-the-fact statements and adjustments to amounts owed may be made in order to reflect correctly the amounts payable by Buyer to Seller under this Agreement (an “Adjusted Statement”). Each Party shall cooperate promptly and in good faith with the other Party to obtain the requisite information and perform the necessary computations to true-up or otherwise adjust accurately any estimated or adjusted ▇▇▇▇▇▇▇▇.
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Subsequent Payment Adjustments. The Parties understand that in certain cases monthly ▇▇▇▇▇▇▇▇ will need to be made on an estimated basis. In addition, the Parties understand that after the fact adjustments to amounts owed or revenues received may be made pursuant to the CSA or other OPC Contracts, which adjustments may affect the Energy Cost and associated amounts payable by MS to OPC under this Agreement. Each Party shall cooperate in good-faith with the other Party to obtain the requisite information and perform the necessary computations so as to "true-up" or otherwise adjust any estimated or adjusted ▇▇▇▇▇▇▇▇ promptly.
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Subsequent Payment Adjustments. 17 ARTICLE 8 TAXES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 8.1 Seller's Obligation. . . . . . . . . . . . . . . . . . . . . . 17 8.2 Buyer's Obligation . . . . . . . . . . . . . . . . . . . . . . 17 8.3 Exemption Certificates . . . . . . . . . . . . . . . . . . . . 17
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Related to Subsequent Payment Adjustments

  • Subsequent Adjustments In the event that the Assuming Institution or the Receiver discovers any errors or omissions as contemplated by Section 8.2 or any error with respect to the payment made under Section 8.3 after the Settlement Date, the Assuming Institution and the Receiver agree to promptly correct any such errors or omissions, make any payments and effect any transfers or assumptions as may be necessary to reflect any such correction plus interest as provided in Section 8.4.

  • Payment Adjustments Notwithstanding anything to the contrary in this Article 3, any payment pursuant to this Article: (a) shall be subject to (i) any delay in payment or reduction required by Section 5.2 hereof, and (b) shall be subject to a set-off equal to the gross amount of any current or deferred compensation, including wages, salary, fees, benefits, tangible or intangible property or ownership rights or interests or other property rights, received by Executive or which he becomes entitled to receive in the future as remuneration for services to any Person, business or other entity as a result of, or in exchange for, any work or services performed, or any intellectual property conveyed by Executive, during the Restricted Period (“Remuneration”), provided that the foregoing provision shall in no way limit or impair Executive’s obligations or the Bank’s rights under Article 3 or Article 4 of this Agreement. Executive understands and agrees that the Bank’s set-off rights will accrue, and any set-off pursuant to this provision will be applied to any non-compete payments due (or previously paid or accrued), after the earlier of Executive’s receipt or accrual of Remuneration (the Set-off Date), and if Executive is not entitled to further payments under this Agreement, Executive agrees to refund the setoff amount in full to the Bank within fourteen (14 days) of Executive’s Certification reporting such remuneration or the Set-off Date, whichever is later.

  • Contract Adjustment Payments Subject to Section 5.3 herein, the Company shall pay, on each Payment Date, the Contract Adjustment Payments payable in respect of each Purchase Contract to the Person in whose name a Certificate (or one or more Predecessor Certificates) is registered at the close of business on the Record Date next preceding such Payment Date. The Contract Adjustment Payments will be payable at the office of the Agent in The City of New York maintained for that purpose or, at the option of the Company, by check mailed to the address of the Person entitled thereto at such Person's address as it appears on the Income PRIDES Register or Growth PRIDES Register. Upon the occurrence of a Termination Event, the Company's obligation to pay Contract Adjustment Payments (including any accrued or Deferred Contract Adjustment Payments) shall cease. Each Certificate delivered under this Agreement upon registration of transfer of or in exchange for or in lieu of (including as a result of a Collateral Substitution or the re-establishment of an Income PRIDES) any other Certificate shall carry the rights to Contract Adjustment Payments accrued and unpaid, and to accrue Contract Adjustment Payments, which were carried by the Purchase Contracts underlying such other Certificates. Subject to Section 5.9, in the case of any Security with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date that is after any Record Date and on or prior to the next succeeding Payment Date, Contract Adjustment Payments, if any, otherwise payable on such Payment Date shall be payable on such Payment Date notwithstanding such Early Settlement, and such Contract Adjustment Payments shall be paid to the Person in whose name the Certificate evidencing such Security (or one or more Predecessor Certificates) is registered at the close of business on such Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date, Contract Adjustment Payments that would otherwise be payable after the Early Settlement Date with respect to such Purchase Contract shall not be payable. The Company's obligations with respect to Contract Adjustment Payments, will be subordinated and junior in right of payment to the Company's obligations under any Senior Indebtedness.

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following: