Post Payment Audit Clause Samples
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Post Payment Audit. It is an agreed term of contract that the Railway reserves to itself the right to carry out a post-payment audit and/ or technical examination of the works and the Final Bill including all supporting vouchers, abstracts etc. and to make a claim on the Contractor for the refund of any excess amount paid to him till the release of security deposit or settlement of claims, whichever is later, if as a result of such examination any over-payment to him is discovered to have been made in respect of any works done or alleged to have been done by him under the contract.
Post Payment Audit. Costco (or a designated affiliate) reserves the right to conduct post payment audits of Supplier. In most cases, post payment audits take place within three years of either a singular transaction or the completion of a contractual program. If an audit indicates noncompliance with transaction or contractual requirements, Costco reserves the right to extend the audit time frame beyond three years. Supplier agrees to provide supporting documentation and related information upon Costco’s request.
Post Payment Audit. 4.1 The Owner reserves the right to carry out a post payment audit and/or technical examination of the work, and the final ▇▇▇▇, including all supporting voucher abstracts etc., and to enforce recovery, if any, found as a result of such examination, any over payment if discovered in respect of work done and/or alleged to be have been done by the O&M Partner under the Contract, and such recovery will be made by the Owner, using any or all of the methods or modes prescribed herein. If, on the other hand, any under payment is discovered, the amount shall be duly paid to the O&M Partner by the Owner. Further, the Owner reserves the right to make such recoveries and adjustments notwithstanding the fact that the amount of the final ▇▇▇▇ may be included by one of the parties as an item of dispute. Further, unless the O&M Partner pays and clears the claims of the Owner immediately on demand, the Owner shall at all times be entitled to deduct the sum due from the O&M Partner from its ▇▇▇▇, or from the security deposit amount, which may have become payable or will become payable to the O&M Partner under these presents or under any other contract or transaction whatsoever between the O&M Partner and the Owner.
Post Payment Audit. If as a result of any Action by a Governmental Authority the aggregate Actual Unit Sale Taxes is determined pursuant to a “final determination” within the meaning of Section 1313(a) of the Code to differ from the amount set forth in the Final Tax Adjustment Statement resulting in a corresponding increase or decrease in the Tax Adjustment Amount contained in such statement (“Modified Tax Adjustment Amount”), HTA Holdings or the Charity, as applicable, shall promptly notify Buyer in writing of the amount of such Actual Unit Sale Taxes and any Modified Tax Adjustment Amount. Within five (5) Business Days of receipt of such notice, Buyer shall pay to the HTA Holdings Owners or the Charity, as applicable, the amount of the excess of the Modified Tax Adjustment Amount over the Tax Adjustment Amount contained in the Final Tax Adjustment Statement and the HTA Holdings Owners or the Charity, as applicable, shall pay to Buyer the excess of the Tax Adjustment amount contained in the Final Tax Adjustment Statement over the Modified Tax Adjustment Amount and any interest, penalties or other costs assessed by the Governmental Authority. Notwithstanding any other provision to the contrary in this Agreement (including this Section 6.7(e)), the obligations of the HTA Holdings Owners or the Charity, as applicable, and Buyer to make any payment to the other Party with respect to the Tax Adjustment Amount or the Modified Tax Adjustment Amount shall expire on the fourth anniversary of the Closing Date (other than (I) with respect to any Action commenced by the applicable Governmental Authority on or prior to such fourth anniversary of the Closing Date provided that the Buyer has received written notice of such Action on or prior to such date and (II) with respect to an assessment described in Schedule 6.7(e)(II) of the Disclosure Schedules (such an assessment, a “Tax Assessment”), which obligations will survive until the statute of limitations on such Tax Assessment has expired, plus 60 days.)
Post Payment Audit. Packaging will conduct post-payment auditing of expense reports and associated receipt packages pursuant to mutually agreed upon performance documentation standards. Packaging will notify Tenneco employees and the designated Tenneco management representative of violations to the performance documentation standards and follow-up with the Tenneco employees to assure compliance.