Overpayment or Underpayment. It is possible that after the determinations and selections made pursuant to this Section 8 Executive will receive Covered Payments that are in the aggregate more than the amount provided under this Section 8 (“Overpayment”) or less than the amount provided under this Section 8.4 (“Underpayment”).
8.4.1. In the event that: (A) the Accountants determine, based upon the assertion of a deficiency by the Internal Revenue Service against either the Company or Executive which the Accountants believe has a high probability of success, that an Overpayment has been made or (B) it is established pursuant to a final determination of a court or an Internal Revenue Service proceeding that has been finally and conclusively resolved that an Overpayment has been made, then Executive shall pay any such Overpayment to the Company.
8.4.2. In the event that: (A) the Accountants, based upon controlling precedent or substantial authority, determine that an Underpayment has occurred or (B) a court of competent jurisdiction determines that an Underpayment has occurred, any such Underpayment will be paid promptly by the Company to or for the benefit of Executive.
Overpayment or Underpayment. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed to or for the benefit of the Executive pursuant to this Agreement that should not have been so paid or distributed (“Overpayment”) or that additional amounts which will have not been paid or distributed to or for the benefit of the Executive pursuant to this Agreement could have been so paid or distributed (“Underpayment”), in each case, consistent with the calculation of the Payments, Base Amount and Reduced Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against Taubman or any of the Affiliated Companies or the Executive that the Accounting Firm believes has a high probability of success, determines that an Overpayment has been made, any such Overpayment paid or distributed to or for the benefit of the Executive will be repaid by the Executive, together with interest at the applicable federal rate provided in Section 7872(f)(2) of the Code; provided, however, that no such payment will be made by the Executive if and to the extent such payment would neither reduce the amount on which the Executive is subject to tax under Section 1 and Section 4999 of the Code nor generate a refund of such taxes. In the event that the Accounting Firm, based on controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment will be promptly paid to or for the benefit of the Executive together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.
Overpayment or Underpayment. Where an Employer becomes aware that payments have been made over or under entitlements provided for under the Agreement, the Teacher will be notified and the parties will attempt to reach agreement on the money due or to be recovered. If the parties are unable to reach agreement, either party may have recourse as provided for in Clause 18 - Dispute Procedures.
Overpayment or Underpayment. Should any examination or audit of Contractor’s records reveal an overpayment or underpayment by Contractor to City, the amount of underpayment, plus interest compounded monthly at the maximum lawful rate, shall be paid by Contractor to City within thirty (30) days. The principal amount of any overpayment shall be paid by City to Contractor within sixty (60) days.
Overpayment or Underpayment. Where the Employer determines an employee has been overpaid, the Employer has the right to recover the overpayment via deductions from the employee’s pay. The Employer shall consult with the employee prior to determining the schedule of deductions. The Employer will endeavor to implement a schedule which avoids creating undue hardship for the employee. Where the Employer has underpaid an employee due to the Employer’s error, the Employer will correct the pay error within three business days after determining the error has occurred.
Overpayment or Underpayment. Should a record review performed by Buyer or Seller reveal an overpayment or underpayment, then the amount of the overpayment or underpayment shall promptly be paid to the Party to whom it is owed by the other Party with interest at the late payment rate specified by Section 18.2.
Overpayment or Underpayment. When an overpayment or underpayment is made, repayment shall be pro-rated over the remaining pay periods or as agreed to by employee. In cases of extreme over-payment more liberal arrangements may be made by the teacher and District.
Overpayment or Underpayment. Within a reasonable time after XXXXXX’s receipt of the Annual Adjustment from LESSOR (including any statement delivered after the expiration or termination of the Lease Term), upon XXXXXX’s agreement of said Annual Adjustment, LESSEE and XXXXXX shall execute an amendment to the Lease Agreement setting forth such Annual Adjustment, if any.
(i) If the Annual Adjustment results in XXXXXX’s underpayment of its pro rata share of Actual Operating Costs for said period, LESSEE shall pay such difference to LESSOR within thirty (30) days of full execution of an amendment to the Lease Agreement setting forth such payment amount.
(ii) If the Annual Adjustment results in XXXXXX’s overpayment of its pro rata share of Actual Operating Costs for said period, XXXXXX shall reimburse such overpayment to LESSEE within thirty (30) days of full execution of an amendment to the Lease Agreement setting forth such reimbursement amount.
Overpayment or Underpayment. If, following any audit and inspection, the MFSS Management Board can demonstrate that the MFSS Costs paid by any Partner under this Agreement exceed or are less than the MFSS Costs which should have been payable as calculated in accordance with this Agreement, the Partners will agree an adjustment under Part 7 (MFSS Costs).
Overpayment or Underpayment. If the audit reveals an overpayment, Roche shall:
a) deduct the amount of the overpayment from the next royalty payment due to Partner after receipt by Partner of the final report; or
b) promptly be reimbursed by Partner, if future royalties due under this Agreement are not expected to cover the overpayment performed by Roche. Similarly, if the audit reveals an underpayment, Roche shall:
a) make up such underpayment with the next royalty payment occurring after receipt by Roche of the final report; or
b) promptly reimburse Partner, if future royalties due under this Agreement are not expected to cover the underpayment performed by Roche. Roche shall pay for the audit costs if the underpayment of Roche exceeds five percent (5%) of the aggregate amount of royalty payments owed with regard to the royalty statements subject of the audit. Section 8.2 shall apply to this Section 10.3.
