Common use of Excess Savings Clause in Contracts

Excess Savings. Excess Savings shall be carried forward and applied to any future Guarantee Year(s). In the event Honeywell has previously paid Customer for a Guaranteed Savings shortfall in a past Guarantee Year, pursuant to Section C.3.1.5, then Excess Savings in current Guarantee Year shall be billed to Customer (but only up to any amounts previously paid by Honeywell for a shortfall) and Customer shall pay Honeywell within thirty (30) days after receipt of such bill, and any remaining Excess Savings shall be carried forward and applied against Guaranteed Savings shortfalls in any future Guarantee Year.

Appears in 4 contracts

Samples: Honeywell Agreement, Honeywell Agreement, Honeywell Agreement

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