Payback Obligation Sample Clauses
The Payback Obligation clause requires a party to repay funds or benefits previously received under certain conditions, such as breach of contract or failure to meet specified milestones. In practice, this clause may apply if an advance payment or loan is given, and the recipient does not fulfill their obligations, triggering a duty to return the money. Its core function is to protect the paying party from financial loss by ensuring that unearned or unjustified payments can be recovered.
Payback Obligation. 5.4.4.1. To be admissible, any contestation relating to the whole or part of the amount of the Payback Obligation resulting from the delivery activity report specified in paragraph 5.3.2, must comply with the rules set out in section 12.4.6 of the Functioning Rules.
5.4.4.2. In the event of partial or full agreement between the Parties, during the first period of sixty (60) Working Days as set out in section 12.4.6 of the Functioning Rules, on the amount of the Payback Obligation resulting from the delivery activity report, the new uncontested amount agreed, is then the subject of an invoice to be issued by ▇▇▇▇ in accordance with §870 of the Functioning Rules and Article 6.
5.4.4.3. In accordance with section 12.4.6 of the Functioning Rules, in the absence of partial or full agreement between the Parties on the amount of the Payback Obligation resulting from the delivery activity report, within the first period of sixty (60) Working Days as set out in section
5.4.4.4. In the event an amicable agreement is reached between Parties during the second period of sixty
Payback Obligation. 5.4.4.1. To be sustainable, any contestation relating to whole or parts of the amount of the Payback Obligations resulting from the activity report set forth in paragraphs 5.3.2, must follow the rules set forth in section 12.4.5 of the Functioning Rules.
5.4.4.2. In case of partial or total agreement, within the first period of sixty (60) Working Days set forth in section 12.4.5 of the Functioning Rules, between the Parties on the amount of the Payback Obligations resulting from the delivery activity reports, the new uncontested amount, being the object of the agreement, is then the object of a credit note, to be issued by the CAPACITY PROVIDER in accordance with §803 of the Functioning Rules and article 6.
5.4.4.3. However, and in accordance with section 12.4.5 of the Functioning Rules, in the absence of a partial or total agreement between the Parties on the amount of the Payback Obligations resulting respectively from the delivery activity reports, within the first period of sixty (60) Working Days set forth in section 12.4.5 of the Functioning Rules, the contested amount or the part of the contested amount of the penalties is the object of a separate credit note in accordance with article 6.
5.4.4.4. In case of amicable agreement reached between the Parties during the second period of sixty (60) Working Days set forth in section 12.4.5 of the Functioning Rules, such agreement will translate, as the case may be, in ▇▇▇▇ issuing a corrective credit note towards the amount which had been the object of the separate invoice, in accordance with article 6. Any agreement must comply with the Functioning Rules.
5.4.4.5. If no amicable agreement is reached after the second period of sixty (60) Working Days, the Parties may start the dispute procedure mentioned in Article 15.
Payback Obligation. 5.4.4.1. To be admissible, any contestation relating to the whole or part of the amount of the Payback Obligation resulting from the delivery activity report specified in paragraph 5.3.2, must comply with the rules set out in section 12.4.5 of the Functioning Rules.