Common use of Quarterly and Annual Reconciliation Clause in Contracts

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(s) and Supplementary Xxxx(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, is available and has been finally verified and adjusted, the TSP and each Long Term Transmission Customer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP or Long Term Transmission Customers, as the case may be, shall raise a Supplementary Xxxx for the payments as may be due as a result of reconciliation for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx for the adjustments in Transmission Charges payments for the relevant quarter/Contract Year. 10.13.3 Interest / Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 16.

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(s) Weekly Bills, Provisional Bxxx and Supplementary Xxxx(s) Bills shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy AccountREA, adjustments in Transmission Charges paymentsTariff Adjustment Payments, RebatesTariff Rebate Payments, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 provided under this Agreement. The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, Year as the case may be, is available and be has been finally verified and adjusted, the TSP Seller and each Long Term Transmission Customer Procurer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP Seller or Long Term Transmission CustomersProcurer, as the case may be, shall raise a Supplementary Xxxx Bxxx for the payments as may be due as a result of reconciliation Tariff Adjustment Payments for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx Bxxx for the adjustments in Transmission Charges payments Tariff Adjustment Payments for the relevant quarter/Contract Year. 10.13.3 Interest / . Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 1617.

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(s) Weekly Bills, Provisional Bxxx and Supplementary Xxxx(s) Bills shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, RebatesTariff Adjustment Payments, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 provided under this Agreement. The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, Year as the case may be, is available and be has been finally verified and adjusted, the TSP Corporation and each Long Term Transmission Customer First Party shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP Corporation or Long Term Transmission CustomersFirst Party, as the case may be, shall raise a Supplementary Xxxx Bxxx for the payments as may be due as a result of reconciliation Tariff Adjustment Payments for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx Bxxx for the adjustments in Transmission Charges payments Tariff Adjustment Payments for the relevant quarter/Contract Year. 10.13.3 Interest / . Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 1621.

Quarterly and Annual Reconciliation. 10.13.1 10.14.1 Parties acknowledge that all payments made against Monthly Xxxx(s) and Supplementary Xxxx(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 10.14.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, is available and has been finally verified and adjusted, the TSP and each Long Term Transmission Customer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP or Long Term Transmission Customers, as the case may be, shall raise a Supplementary Xxxx for the payments as may be due as a result of reconciliation for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx for the adjustments in Transmission Charges payments for the relevant quarter/Contract Year. 10.13.3 10.14.3 Interest / Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 16.

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(s) and Supplementary Xxxx(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, is available and has been finally verified and adjusted, the TSP and each Long Term Transmission Customer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP or Long Term Transmission Customers, as the case may be, shall raise a Supplementary Xxxx for the payments as may be due as a result of reconciliation for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx for the adjustments in Transmission Charges payments for the relevant quarter/Contract Year. 10.13.3 Interest / Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 16.

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(s) and Supplementary Xxxx(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, is available and has been finally verified and adjusted, the TSP and each Long Term Transmission Customer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP or Long Term Transmission Customers, as the case may be, shall raise a Supplementary Xxxx for the payments as may be due as a result of reconciliation for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx for the adjustments in Transmission Charges payments for the relevant quarter/Contract Year. 10.13.3 Interest / Interest/ Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 16.

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(s) and Supplementary Xxxx(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, is available and has been finally verified and adjusted, the TSP and each Long Term Transmission Customer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP or Long Term Transmission Customers, as the case may be, shall raise a Supplementary Xxxx for the payments as may be due as a result of reconciliation for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx for the adjustments in Transmission Charges payments for the relevant quarter/quarter/ Contract Year. 10.13.3 Interest / Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 16.

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(sBill(s) and Supplementary Xxxx(sBill(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, is available and has been finally verified and adjusted, the TSP and each Long Term Transmission Customer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP or Long Term Transmission Customers, as the case may be, shall raise a Supplementary Xxxx Bill for the payments as may be due as a result of reconciliation for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx Bill for the adjustments in Transmission Charges payments for the relevant quarter/Contract Year. 10.13.3 Interest / Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 16.

Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Xxxx(s) and Supplementary Xxxx(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other reasonable circumstance as may be mutually agreed between the Parties. 10.13.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year, as the case may be, is available and has been finally verified and adjusted, the TSP and each Long Term Transmission Customer shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the TSP or Long Term Transmission Customers, as the case may be, shall raise a Supplementary Xxxx for the payments as may be due as a result of reconciliation for the relevant quarter/ Contract Year and shall make payment of such Supplementary Xxxx for the adjustments in Transmission Charges payments for the relevant quarter/quarter/ Contract Year. 10.13.3 Interest / Interest/ Late Payment Surcharge shall be payable in such a case from the date on which such payment had been made to the 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 16.