Common use of Billing of the Balancing Outstanding Amount Clause in Contracts

Billing of the Balancing Outstanding Amount. When the Balancing Outstanding Amount is strictly greater than ninety per cent (90%), Teréga has the right to issue an Invoice for the Balancing Outstanding Amount to the Shipper. Subject to the Balancing Outstanding Amount being strictly greater than fifty per cent (50%), the Shipper may also, at its own initiative make an Advance payment of the Balancing Outstanding Amount to Teréga. The Shipper should inform Teréga of the amount of the advance payment made and its payment date. In return, Teréga will draft a confirmation of receipt of the amount and will deduct the amount or amounts paid in advance from the amount of the next invoice, up to the limit of the amount of said invoice. In the case where the Balancing Outstanding Amount is strictly greater than fifty per cent (50%), the amount of the Guarantee can also be revised upwards by the Shipper in order to lower the relative level of the Outstanding Amount, in compliance with the conditions described in article 8.