Common use of Annual Statement of Operating Results - Underpayment and Overpayment of Reimbursable Expenses Clause in Contracts

Annual Statement of Operating Results - Underpayment and Overpayment of Reimbursable Expenses. If the Annual Statement of Operating Results described in Section 6.07(d)(4) above indicates that the Reimbursable Expenses for the Contract Year have been underpaid then, subject to Authority acceptance and approval of such certification, the amount of such underpayment shall be refunded by the Authority to the Contractor. If the certification indicates that the Reimbursable Expenses for the Contract Year have been overpaid, then subject to Authority acceptance and approval of such certification the Contractor shall promptly pay such amounts to the Authority.

Annual Statement of Operating Results - Underpayment and Overpayment of Reimbursable Expenses. If the Annual Statement of Operating Results described in Section 6.07(d)(4) above indicates that the Reimbursable Expenses for the Contract Year have been underpaid then, subject to Authority acceptance and approval of such certification, the amount of such underpayment shall be refunded by the Authority to the Contractor. If the certification indicates that the Reimbursable Expenses for the Contract Year have been overpaid, then subject to Authority acceptance and approval of such certification certification, the Contractor shall promptly pay such amounts to the Authority.