Common use of - Adjustments of the Invoicing of the Service Clause in Contracts

- Adjustments of the Invoicing of the Service. (a) CENIT will make adjustments to the invoicing based on the “Gross Standard Volume”, reported in the CVC’s transportation sheet of each Pipeline and certified by the independent inspector at the Pipeline’s Point of Entry. (b) CENIT will make adjustments to the invoicing based on the volumes invoiced and on the volumes actually transported. If as a result of the adjustment mentioned in this item it is established that the SENDER paid in excess for the Service, CENIT will compensate the SENDER generating a credit note for the excess amounts paid in favor of the SENDER to be credited in the invoicing issued for the services provided under this Agreement or under other agreements between the SENDER and CENIT. In case that the Term for the Provision of the Service under this Agreement has ended or if there are no other contractual relationships between CENIT and the SENDER, CENIT will pay back the excess amount charged within thirty (30) business Days after the acknowledgement by CENIT. If, on the contrary, as a result of the adjustment the subject matter of this Section it is established that the SENDER paid an amount lower than the one that would correspond for the volumes actually transported, CENIT will issue the respective adjustment invoice, which will be paid by the SENDER within thirty (30) Days after the date of issuance thereof, using the TRM of the first day of provision of the Service to which the adjustment corresponds; the TRM must be duly certified by the Financial Superintendence or the entity that takes its place.”

Appears in 4 contracts

Samples: Crude Oil Transportation Agreement (Gran Tierra Energy Inc.), Crude Oil Transportation Agreement (Gran Tierra Energy Inc.), Crude Oil Transportation Agreement (Gran Tierra Energy Inc.)

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