Common use of Quarterly Reconciliation Clause in Contracts

Quarterly Reconciliation. Exxaro shall at the end of each quarter, reconcile the monthly invoices issued against the Services provided for the preceding quarter, so as to ensure the accuracy of the invoices issued in such period. To the extent that Tronox has been overcharged or undercharged for the provision of any Service, Exxaro shall reflect such sum as to Tronox’s credit or debit (as the case may be) in the following monthly invoice issued in terms of clause 9.2. Such figure shall be reflected clearly as a separate line item on the invoice as either a debit or credit with a brief explanation for the inclusion (“adjustment amount”). As regards credit amounts, Tronox shall pay the difference between the amount charged for Services under the monthly invoice and the amount reflected to its credit. Where an additional amount is indicated as a debit, Tronox shall pay the sum of the two figures. No interest shall be included in or levied on an adjustment amount.