Common use of Under and over payments Clause in Contracts

Under and over payments. (a) If a Party detects a Payment Error by a Party of any amount within 18 calendar months after the Payment Error: (i) the Party must as soon as reasonably practicable give notice to the other Party of the Payment Error; and (ii) an adjusting payment must be made by the appropriate Party within 15 Business Days of the notice. (b) Except where clause 5.4(c) applies, the adjusting payment must, without prejudice to the Party’s other rights, include interest calculated daily at the Prescribed Rate from the date of the Payment Error until the date of the adjusting payment. (c) An adjusting payment by a Party will not attract interest under clause 5.4(b) if it is made in relation to an underpayment and the underpayment was the result of an error by the other Party. (d) A Party is not entitled to an adjusting payment for a Payment Error notified to the other Party after the expiry of 18 calendar months after the Payment Error. (e) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is less than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the Due Date of the Tax Invoice. (f) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is more than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the date the User has paid the total amount of the Tax Invoice in full.

Under and over payments. (a) If Subject to clause 12.4(e), if a Party detects a Payment Error by a Party of any amount within 18 calendar months Months after the Payment Error: (i) the that Party must as soon as reasonably practicable give notice Notice to the other Party of the Payment Error; and (ii) an adjusting payment must be made by the appropriate Party within 15 10 Business Days of the noticeNotice. (b) Except where clause 5.4(c12.4(c) applies, the adjusting payment must, without prejudice to the Party’s other rights, include interest calculated daily at the Prescribed Rate from the date of the Payment Error until the date of the adjusting payment. (c) An adjusting payment by a Party will not attract interest under clause 5.4(b12.4(b) if it is made in relation to an underpayment and the underpayment was the result of an error by the other Party. (d) A Subject to clause 12.4(e), a Party is not entitled to an adjusting payment for a Payment Error notified Notified to the other Party Parties after the expiry of 18 calendar months Months after the Payment Error. (e) Notwithstanding clauses 12.4(a) and 12.4(d), where: (i) Payment Errors have occurred as a result of an error in the data used to calculate an amount; and (ii) the Payment Errors occurred in one or more Invoice Periods, the Party that was underpaid or that made an overpayment (as applicable) is entitled to an adjusting payment only for the Payment Errors that occurred in the Invoice Periods that were within the 12 Month period preceding the date that the Payment Errors were Notified by one Party to the other. (f) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is less than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the Due Date of the Tax Invoice. (fg) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is more than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the date the User has paid the total amount of the Tax Invoice in full.

Under and over payments. (a) If Subject to clause 8.6(e), if a Party detects a Payment Error by a Party of any amount within 18 calendar months after the Payment Error: (i) the Party must as soon as reasonably practicable give notice to the other Party Parties of the Payment Error; and (ii) an adjusting payment must be made by the appropriate Party within 15 10 Business Days of the notice. (b) Except where clause 5.4(c8.6(c) applies, the adjusting payment must, without prejudice to the Party’s other rights, include interest calculated daily at the Prescribed Rate from the date of the Payment Error until the date of the adjusting payment. (c) An adjusting payment by a Party will not attract interest under clause 5.4(b8.6(b) if it is made in relation to an underpayment and the underpayment was the result of an error by the other Party. (d) A Subject to clause 8.6(e), a Party is not entitled to an adjusting payment for a Payment Error notified to the other Party Parties after the expiry of 18 calendar months after the Payment Error. (e) Notwithstanding clauses 8.6(a) and 8.6(d), where: (i) Payment Errors have occurred as a result of an error in the data used to calculate the Charges; and (ii) the Payment Errors occurred in one or more Accounting Periods, the Party who was underpaid or who made an overpayment (as applicable) is entitled to an adjusting payment only for the Payment Errors that occurred in the Accounting Periods that were within the 12 month period preceding the date that the Payment Errors were notified by one Party to the other. (f) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is less than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the Due Date of the Tax Invoice. (fg) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is more than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the date the User has paid the total amount of the Tax Invoice in full.

Under and over payments. (a) If a Party detects a Payment Error by a Party of any amount within 18 calendar months after the Payment Error: (i) the Party must as soon as reasonably practicable give notice to the other Party of the Payment Error; and (ii) an adjusting payment must be made by the appropriate Party within 15 10 Business Days of the notice. (b) Except where clause 5.4(c) applies, the adjusting payment must, without prejudice to the Party’s other rights, include interest calculated daily at the Prescribed Rate from the date of the Payment Error until the date of the adjusting payment. (c) An adjusting payment by a Party will not attract interest under clause 5.4(b) if it is made in relation to an underpayment and the underpayment was the result of an error by the other Party. (d) A Subject to clause 5.4(e) a Party is not entitled to an adjusting payment for a Payment Error notified to the other Party after the expiry of 18 calendar months after the Payment Error. (e) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is less than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the Due Date of the Tax Invoice. (f) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is more than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the date the User has paid the total amount of the Tax Invoice in full.

Under and over payments. (a) If a Party detects a Payment Error by a Party of any amount within 18 calendar months after the Payment Error: (i) the Party must as soon as reasonably practicable give notice to the other Party of the Payment Error; and (ii) an adjusting payment must be made by the appropriate Party within 15 150 Business Days of the notice. (b) Except where clause 5.4(c) applies, the adjusting payment must, without prejudice to the Party’s other rights, include interest calculated daily at the Prescribed Rate from the date of the Payment Error until the date of the adjusting payment. (c) An adjusting payment by a Party will not attract interest under clause 5.4(b) if it is made in relation to an underpayment and the underpayment was the result of an error by the other Party. (d) A Subject to clause 5.4(e) a Party is not entitled to an adjusting payment for a Payment Error notified to the other Party after the expiry of 18 calendar months after the Payment Error. (e) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is less than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the Due Date of the Tax Invoice. (f) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is more than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the date the User has paid the total amount of the Tax Invoice in full.

Under and over payments. (a) If a Party detects a Payment Error by a Party of any amount within 18 calendar months after the Payment Error: (i) the Party must as soon as reasonably practicable give notice to the other Party of the Payment Error; and (ii) an adjusting payment must be made by the appropriate Party within 15 Business Days of the notice. (b) Except where clause 5.4(c) applies, the adjusting payment must, without prejudice to the Party’s other rights, include interest calculated daily at the Prescribed Rate from the date of the Payment Error until the date of the adjusting payment. (c) An adjusting payment by a Party will not attract interest under clause 5.4(b) if it is made in relation to an underpayment and the underpayment was the result of an error by the other Party. (d) A Subject to clause 5.4(e) aA Party is not entitled to an adjusting payment for a Payment Error notified to the other Party after the expiry of 18 calendar months after the Payment Error. (e) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is less than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the Due Date of the Tax Invoice. (f) Where a Payment Error is an error as a result of which the amount set out in a Tax Invoice is more than what it would have been had the error not been made, the Payment Error will be taken to have occurred on the date the User has paid the total amount of the Tax Invoice in full.