BILLING, PAYMENT, AND REPORTING. 11.1 On or before the end of each Month, Gatherer shall render to Owner a statement in substantially the same form attached hereto as Exhibit “A”, for the preceding Month identified as to the Receipt Point(s) and at minimum showing the items listed in Exhibit “A”, including, but not limited to: (a) the total quantity of Gas delivered to the Receipt Point(s) hereunder and the amount due thereon for the Fees and electric power charges; (b) the component and total quantities of NGLs allocated hereunder; (c) the allocated Residue Gas MMBTU volume to be delivered to the Delivery Point(s); (d) information sufficient to explain and support any adjustments made by Gatherer in determining the amount billed or payable; and (e) any other required details as provided in Section 10.3 (a “Statement”). Gatherer shall supply Statements in electronic transmission format suitable to be automatically loaded into Owner's accounting systems provided that Gatherer shall not be required to incur any costs or expenses in connection with providing Statements in such electronic format. Owner shall pay Gatherer at the addresses shown in Article XVII hereunder no later than the last Day of the Month after the Month of production by wire transfer or ACH wire. If the undisputed amount is not paid when due, interest on any unpaid portion shall accrue at an interest rate equal to two percent (2%) plus the prime rate as quoted in the most recent edition of the Wall Street Journal or at the highest rate permitted by applicable law, whichever is lower, from due date until date paid. If default continues after ninety (90) Days written notice from Gatherer to Owner, the Gatherer may suspend receipt or delivery of Owner's Gas hereunder without prejudice to any other available remedies at law or in equity. In the event of any good faith dispute as to the amounts payable hereunder (the “Disputed Amount”), the Parties shall work in good faith to agree on such Disputed Amount. If the Parties are unable to agree on payment of the Disputed Amount within thirty (30) Days, then any Party may refer such dispute to a firm of independent public accountants, mutually acceptable to Owner and Gatherer, which firm shall make a final and binding determination as to the Disputed Amount on a timely basis and promptly notify the Parties in writing of its resolution. Such firm handling resolution of the Disputed Amount shall not have the power to modify or amend any term or provision of this Agreement. Owner and ...
BILLING, PAYMENT, AND REPORTING. 9.1 On or before the twentieth (20th) day of each Month after deliveries of Gas commence hereunder, Gatherer shall render to Owner or Owner's representative a statement for the preceding Month identified as to the Point(s) of Receipt and Point of Delivery, showing the daily and total volumes of Gas allocated to delivery hereunder, the amount due therefore and information sufficient to explain and support any adjustments in volumes or amounts made by Gatherer in determining the amount billed. The Owner or Owner's representative shall pay Gatherer at the address shown hereunder on or before the last day of each Month, or if the statement is rendered by Gatherer after the twentieth (20th) day, within ten (10) days after receipt of such statement. If the correct amount is not paid when due, interest on any unpaid portion of the correct amount shall accrue at the lesser of: (i) the highest rate of interest permitted by applicable law, or (ii) fifteen percent (15%) per annum. If any default continues after thirty (30) days' written notice from Gatherer to Owner, Gatherer may suspend receipt of Gas hereunder without prejudice to any other available remedies at law or in equity. 9.2 If any overcharge or undercharge in any form whatsoever shall at any time be found and the xxxx therefore has been paid, Gatherer shall refund any amount of overcharge, and Owner shall pay any amount of undercharge within thirty (30) days after final determination thereof, provided that no retroactive adjustment will be made beyond a period of two (2) years from the date a discrepancy occurs.
BILLING, PAYMENT, AND REPORTING. 11.1 On or before the fifteenth (15th) of each Month, Gatherer shall render an invoice to Producer for the preceding Month. Gatherer shall provide Producer with information to support Gatherer's invoice identified as to Producer's Receipt Point(s) and showing the total quantity of Gas delivered hereunder, the amount due therefore, and information sufficient to explain and support any adjustments made by Gatherer in determining the amount billed. Producer shall pay Gatherer or Gatherer shall pay Producer, as the case may be, at the address shown hereunder within 30 days of receipt of invoice. If the correct amount is not paid when due, interest on any unpaid and undisputed portion shall accrue at an interest rate equal to two percent (2%) plus the prime rate as quoted by the Wall Street Journal, or at the highest rate permitted by applicable law, whichever is lower, from due date until date paid. If default with respect to undisputed charges continues after thirty (30) days written notice from Gatherer to Producer, Gatherer may suspend receipt of Gas hereunder without prejudice to any other available remedies at law or in equity.
BILLING, PAYMENT, AND REPORTING
