Common use of Quarterly and Annual Reconciliation Clause in Contracts

Quarterly and Annual Reconciliation. 8.9.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 Days of the end of the quarter of each Operational Year and annual reconciliation at the end of each Operational Year within thirty (30) Days of the end of the Operational Year to take into account the Energy Accounts, payment adjustments, Tariff rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this PPA. 8.9.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of an Operational Year or a full Operational Year, as the case may be, has been finally verified and adjusted, the Power Producer and Xxxxxxxx shall jointly sign such reconciliation statement. Within fifteen (15) Days of signing of a reconciliation statement, the Power Producer shall make appropriate adjustments in the next Monthly Bill. Late Payment Surcharge/ interest shall be payable in such a case from the date on which such payment had been made to the Power Producer or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of ARTICLE 16:

Quarterly and Annual Reconciliation. 8.9.1 10.6.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 Days (thirty) days of the end of the quarter at the beginning of the following quarter of each Operational Contract Year and annual reconciliation at the end of each Operational Contract Year within thirty 30 (30thirty) Days of the end of the Operational Year days to take into account the Energy Accounts, payment adjustmentsTariff adjustment payments, Tariff rebateRebate, Late Payment Surcharge, or any other reasonable circumstance provided under this PPAAgreement. 8.9.2 10.6.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of an Operational a Contract Year or a full Operational Year, Contract Year as the case may be, has been finally verified and adjusted, the Power Producer SPD and Xxxxxxxx the Buyer shall jointly sign such reconciliation statement. Within fifteen 15 (15fifteen) Days days of signing of a reconciliation statement, the Power Producer SPD shall make appropriate adjustments in the next Monthly Bill. Late Payment Surcharge/ interest shall be payable in such a case from the date on which such payment had been made to the Power Producer invoicing Party or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of ARTICLE Article 16:.

Quarterly and Annual Reconciliation. 8.9.1 7.9.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 Days of the end of the quarter of each Operational Year and annual reconciliation at the end of each Operational Year within thirty (30) Days of the end of the Operational Year to take into account the Energy Accounts, payment adjustments, Tariff rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this PPA. 8.9.2 7.9.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of an Operational Year or a full Operational Year, as the case may be, has been finally verified and adjusted, the Power Producer and Xxxxxxxx Procurer shall jointly sign such reconciliation statement. Within fifteen (15) Days of signing of a reconciliation statement, the Power Producer shall make appropriate adjustments in the next Monthly BillXxxx. Late Payment Surcharge/ interest shall be payable in such a case from the date on which such payment had been made to the Power Producer or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of ARTICLE 1615:

Quarterly and Annual Reconciliation. 8.9.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 Days of the end of the quarter of each Operational Year and annual reconciliation at the end of each Operational Year within thirty (30) Days of the end of the Operational Year to take into account the Energy Accounts, payment adjustments, Tariff rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this PPA. 8.9.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of an Operational anOperational Year or a full Operational Year, as the case may be, has been finally verified and adjusted, the Power Producer and Xxxxxxxx Procurer shall jointly sign such reconciliation statement. Within fifteen (15) Days of signing of a reconciliation statement, the Power Producer shall make appropriate adjustments in the next Monthly BillXxxx. Late Payment Surcharge/ interest shall be payable in such a case from the date on which such payment had been made to the Power Producer or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of ARTICLE 16: