Common use of Refund of Overpayments Clause in Contracts

Refund of Overpayments. ‌ If, as a consequence of any of the events contemplated in clauses 6.1(a), the Owner has made Charge Payments in excess of the Charge Payments that the Owner is required to pay under this agreement as at that date, then:‌‌ (a) if Council has paid that excess amount to the Lending Body and the Lending Body agrees that such payment has occurred, the Lending Body must remit that excess amount to Council; and (b) if Council: (i) has not paid that excess amount to the Lending Body; or (ii) has paid that excess amount to the Lending Body, and has had that excess amount remitted to it by the Lending Body under clause 7(a), in each case within a reasonable time after Council becomes aware or the Lending Body agrees (as relevant) that such overpayment has occurred. For the avoidance of doubt, nothing in this agreement requires Council to refund any excess amount to the Owner if Council has paid that excess amount to the Lending Body and the Lending Body has not remitted that excess amount to Council under clause 7(a).‌

Refund of Overpayments. ‌ If, as a consequence of any of the events contemplated in clauses 6.1(a), the Owner has made Charge Payments in excess of the Charge Payments that the Owner is required to pay under this agreement as at that date, then:‌‌ (a) if Council has paid that excess amount to the Lending Body and the Lending Body agrees that such payment has occurred, the Lending Body must remit that excess amount to Council; and (b) if Council: (i) has not paid that excess amount to the Lending Body; or (ii) has paid that excess amount to the Lending Body, and has had that excess amount remitted to it by the Lending Body under clause 7(a), Council must refund the excess amount to the Owner, in each case within a reasonable time after Council becomes aware or the Lending Body agrees (as relevant) that such overpayment has occurred. For the avoidance of doubt, nothing in this agreement requires Council to refund any excess amount to the Owner if Council has paid that excess amount to the Lending Body and the Lending Body has not remitted that excess amount to Council under clause 7(a).‌7(a).