Common use of Adjustment of Errors Clause in Contracts

Adjustment of Errors. 7.3.1 If a material manifest error is found by any Party in the amount shown due in any invoice issued by another Party and a notice of claim in respect of that error is given to the issuing Party within one hundred and ten (110) Days following the date of issuance of such invoice, the issuing Party shall issue a statement of adjustment as soon as reasonably practicable after the error is detected. Any adjustment between any Parties in respect of the error, together with interest on the amount of such adjustment from and including the Day following the payment due date of the original invoice up to and including the Day on which payment of the amount of such adjustment is actually made, at an interest rate of EURIBOR (as in effect on the Day following such payment due date and as in effect on the first Day of every Month thereafter) plus two per cent (2%), shall be paid within ten (10) Business Days after the issuing Party has sent the statement of adjustment. 7.3.2 Except in the case of any material manifest error in an invoice, pursuant to and for the purposes of article 1462 of the Italian civil code, a Party shall not be entitled to postpone or suspend the payment of any invoice by reason of any claims, complaints or objections against the other Party or by reason of any pending dispute with the other Party.