Common use of Erroneous Payments and Credits Clause in Contracts

Erroneous Payments and Credits. Vendor shall promptly pay or refund to the applicable Governmental Entity the full amount of any overpayment or erroneous payment within ten (10) business days after either discovery by Vendor or notification by the applicable Governmental Entity of the overpayment or erroneous payment. In the event Vendor fails to timely pay or refund any amounts due the applicable Governmental Entity under this Section, the applicable Governmental Entity may charge interest of one percent (1%) per month compounded on the outstanding balance each month after the date payment or refund is due, or the maximum amount otherwise allowed by law, whichever is greater. The applicable Governmental Entity may, in its sole discretion, elect to have Vendor apply any amounts due and owing the Governmental Entity under this Section against any amounts payable by the applicable Governmental Entity under this Agreement.

Erroneous Payments and Credits. Vendor shall promptly pay or refund to the applicable State or Governmental Entity the full amount of any overpayment or erroneous payment within ten (10) business days after either discovery by Vendor or notification by the applicable State or Governmental Entity of the overpayment or erroneous payment. In the event Vendor fails to timely pay or refund any amounts due the applicable State or Governmental Entity under this Section, the applicable State or Governmental Entity may charge interest of one percent (1%) per month compounded on the outstanding balance each month after the date payment or refund is due, or the maximum amount otherwise allowed by law, whichever is greater. The applicable State or Governmental Entity may, in its sole discretion, elect to have Vendor apply any amounts due and owing the State or Governmental Entity under this Section against any amounts payable by the applicable State or Governmental Entity under this Agreement.

Erroneous Payments and Credits. Vendor shall promptly pay or refund to the applicable Governmental Entity the full amount of any overpayment or erroneous payment within ten (10) business days after either discovery by Vendor or notification by the applicable Governmental Entity of the overpayment or erroneous payment. In the event Vendor fails to timely pay or refund any amounts due the applicable Governmental Entity under this SectionSection 4.8 (Erroneous Payments and Credits), the applicable Governmental Entity may charge interest of one percent (1%) per month compounded on the outstanding balance each month after the date payment or refund is due, or the maximum amount otherwise allowed by law, whichever is greater. The applicable Governmental Entity may, in its sole discretion, elect to have Vendor apply any amounts due and owing the Governmental Entity under this Section 4.8 (Erroneous Payments and Credits) against any amounts payable by the applicable Governmental Entity under this Agreement.