Common use of Payment Corrections Clause in Contracts

Payment Corrections. If any of the adjustments, holdbacks or set-offs are to be reversed or modified after the Province has made the Payment to the Contractor, such reversal or modification shall be included in the following month’s Payment. “Payment Calculation” for the month of: “Month M” New O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Existing O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Major Rehabilitation Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Capital Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) N/A N/A Subtotal N/A N/A A Payment Adjustments accrued in Month M-1 (include descriptions) Special Adjustments accrued in Month M-1 (include descriptions) Subtotal N/A N/A B Holdbacks and Release (include descriptions) C Miscellaneous Adjustments and Reconciliations (include descriptions) D *No Payments are subject to the goods and services tax (“GST”).

Payment Corrections. If any of the adjustments, holdbacks or set-offs are to be reversed or modified after the Province has made the Payment to the Contractor, such reversal or modification shall be included in the following month’s Payment. “Payment Calculation” for the month of: “Month M” New O&M Maintenance Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Existing O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Major Rehabilitation Renewal Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Capital Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) N/A N/A Subtotal N/A N/A A Payment Adjustments accrued in Month M-1 (include descriptions) Special Adjustments accrued in Month M-1 (include descriptions) Subtotal N/A N/A B Holdbacks and Release (include descriptions) C Miscellaneous Adjustments and Reconciliations (include descriptions) D *No Payments are subject to the goods and services tax (“GST”).

Payment Corrections. If any of the adjustments, holdbacks or set-offs are to be reversed or modified after the Province has made the Payment to the Contractor, such reversal or modification shall be included in the following month’s Payment. “Payment Calculation” for the month of: “Month M” PNI New O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) RNI New O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Existing O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) PNI Major Rehabilitation Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) RNI Major Rehabilitation Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) PNI Capital Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) N/A N/A RNI Capital Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) N/A N/A Subtotal N/A N/A A Payment Adjustments accrued in Month M-1 (include descriptions) Special Adjustments accrued in Month M-1 (include descriptions) Subtotal N/A N/A B Holdbacks and Release (include descriptions) C Miscellaneous Adjustments and Reconciliations (include descriptions) D *No Payments are subject to the goods and services tax (“GST”).

Payment Corrections. If any of the adjustments, holdbacks or set-offs are to be reversed or modified after the Province has made the Payment to the Contractor, such reversal or modification shall be included in the following month’s Payment. “Payment Calculation” for the month of: “Month M” New O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Existing O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Major Rehabilitation Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Capital Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) N/A N/A Subtotal N/A N/A A Payment Adjustments accrued in Month M-1 (include descriptions) Special Adjustments accrued in Month M-1 (include descriptions) Subtotal N/A N/A B Holdbacks and Release (include descriptions) C Miscellaneous Adjustments and Reconciliations (include descriptions) D *No Payments are subject to the goods and services tax (“GST”).

Payment Corrections. If any of the adjustments, holdbacks or set-offs are to be reversed or modified after the Province has made the Payment to the Contractor, such reversal or modification shall be included in the following month’s Payment. “Payment Calculation” for the month of: “Month M” New O&M Operations and Maintenance Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Existing O&M Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Major Rehabilitation Renewal Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) Capital Payment for Month M as per Appendix 1 of Schedule 14 (Payment Schedule) N/A N/A Subtotal N/A N/A A Payment Adjustments accrued in Month M-1 (include descriptions) Special Adjustments accrued in Month M-1 (include descriptions) Subtotal N/A N/A B Holdbacks and Release (include descriptions) C Miscellaneous Adjustments and Reconciliations (include descriptions) D *No Payments are subject to the goods and services tax (“GST”).