Common use of Delinquent Audit Fees Clause in Contracts

Delinquent Audit Fees. In the event that it is established through an audit conducted by the Airports Authority that fees or charges otherwise due to the Airports Authority under this Contract have not been paid to the Airports Authority as a result of the Contractor’s improper recording of its Gross Receipts, the Contractor shall pay to the Airports Authority as delinquent fees and charges, an amount equal to the amount of fees or charges reasonably estimated to have been lost to the Airports Authority together with interest on the amount of such fees and charges at the rate specified in Section 5.01 C. herein.

Delinquent Audit Fees. In the event that it is established through an audit conducted by the Airports Authority that fees or charges otherwise due to the Airports Authority under this Contract have not been paid to the Airports Authority as a result of the Contractor’s 's improper recording of its Gross Receipts, the Contractor shall pay to the Airports Authority as delinquent fees and charges, charges (with interest in accordance with Section 5.01(a)10 herein) an amount equal to the amount of fees or charges reasonably estimated to have been lost to the Airports Authority together with interest on the amount of such fees and charges at the rate specified in Section 5.01 C. hereinAuthority.