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: if [INSERT LOCAL GOVERNMENT ABBREVIATION] 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 [INSERT LOCAL GOVERNMENT ABBREVIATION]; and if [INSERT LOCAL GOVERNMENT ABBREVIATION]: has not paid that excess amount to the Lending Body; or has paid that excess amount to the Lending Body, and has had that excess amount remitted to it by the Lending Body under clause 7.1(a), [INSERT LOCAL GOVERNMENT ABBREVIATION] must refund the excess amount to the Owner, in each case within a reasonable time after [INSERT LOCAL GOVERNMENT ABBREVIATION] becomes aware or the Lending Body agrees (as relevant) that such overpayment has occurred. For the avoidance of doubt, nothing in this agreement requires [INSERT LOCAL GOVERNMENT ABBREVIATION] to refund any excess amount to the Owner if [INSERT LOCAL GOVERNMENT ABBREVIATION] has paid that excess amount to the Lending Body and the Lending Body has not remitted that excess amount to [INSERT LOCAL GOVERNMENT ABBREVIATION] under clause 7.1(a). CONFIRMATIONS Confirmations from Owner The Owner confirms that as at the date of this agreement: it has advised, in writing, each Existing Secured Financier (if any): that it intends to enter into this agreement; and of the details of the Environmental Upgrade Charge that is expected to be declared by [INSERT LOCAL GOVERNMENT ABBREVIATION] in respect of the Land under this agreement, in accordance with its obligations under section 181B(2) of the Local Government Act; and each Tenant that would be liable to pay for all or part of the Environmental Upgrade Charge levied under this agreement, has been provided with a statement specifying: the total amount of the payments that the Tenant would be required to make; and a repayment schedule that details when the Tenant’s liability would become payable and, if the Tenant’s liability can be paid by instalment, the amount and timing of each instalment; and that the repayment schedule may be amended as contemplated in clause 6.1; and that the Tenant may consent or object, in writing, to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; and each Tenant that has received a statement as contemplated in clause 8.1(b) has consented to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; it has notified [INSERT LOCAL GOVERNMENT ABBREVIATION] of: details of all registered and unregistered mortgages over the Land including: the total amount owing in respect of each mortgage; or if a relevant mortgage is held against two or more properties including the Land, the proportion of the debt secured by the mortgage that applies to the Land calculated in accordance with section 181B(5) of the Local Government Act; and details of all taxes, rates and charges owing on the Land (including the total amount owing in respect of each tax, rate or charge) imposed by or under an Act; and it has provided [INSERT LOCAL GOVERNMENT ABBREVIATION] with the statutory declarations required under section 181B(4) of the Local Government Act.

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: if [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC 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 [INSERT LOCAL GOVERNMENT ABBREVIATION]MCC; and if [INSERT LOCAL GOVERNMENT ABBREVIATION]MCC: has not paid that excess amount to the Lending Body; or has paid that excess amount to the Lending Body, and has had that excess amount remitted to it by the Lending Body under clause 7.1(a), [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC must refund the excess amount to the Owner, in each case within a reasonable time after [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC becomes aware or the Lending Body agrees (as relevant) that such overpayment has occurred. For the avoidance of doubt, nothing in this agreement requires [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC to refund any excess amount to the Owner if [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC has paid that excess amount to the Lending Body and the Lending Body has not remitted that excess amount to [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC under clause 7.1(a). CONFIRMATIONS Confirmations Confirmations from Owner The Owner confirms that as at the date of this agreement: it has advised, in writing, each Existing Secured Financier (if any): that it intends to enter into this agreement; and of the details of the Environmental Upgrade Charge that is expected to be declared by [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC in respect of the Land under this agreement, in accordance with its obligations under section 181B(227N(2) of the Local Government City of Melbourne Act; and each Tenant that would be liable to pay for all or part of the Environmental Upgrade Charge levied under this agreement, has been provided with a statement specifying: the total amount of the payments that the Tenant would be required to make; and a repayment schedule that details when the Tenant’s liability would become payable and, if the Tenant’s liability can be paid by instalment, the amount and timing of each instalment; and that the repayment schedule may be amended as contemplated in clause 6.1; and that the Tenant may consent or object, in writing, to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; and each Tenant that has received a statement as contemplated in clause 8.1(b) has consented to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; it has notified [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC of: details of all registered and unregistered mortgages over the Land including: the total amount owing in respect of each mortgage; or if a relevant mortgage is held against two or more properties including the Land, the proportion of the debt secured by the mortgage that applies to the Land calculated in accordance with section 181B(527N(5) of the Local Government City of Melbourne Act; and details of all taxes, rates and charges owing on the Land (including the total amount owing in respect of each tax, rate or charge) imposed by or under an Act; and it has provided [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC with the statutory declarations required under section 181B(427N(4) of the Local Government City of Melbourne Act. Confirmations from Owner and Lending Body Each of the Owner and the Lending Body confirms that: a default by any party under this agreement will not in itself constitute a default under any Transaction Document (other than this agreement); and a default by any person under any Transaction Document (other than this agreement) will not in itself constitute a default under this agreement. Reinstatement of rights Under law relating to a person who is Insolvent, a person may claim that a transaction (including a payment) in relation to this agreement is void or voidable. If a claim is made and upheld, conceded or compromised, then: the Lending Body is immediately entitled as against the Owner to the rights in respect of the Charge Payments and the Prepayments (as applicable) to which it was entitled immediately before the transaction; and the Payment Schedule as at the Charge Payment Date or the Prepayment Date (as applicable) which is deemed to be void or voidable is taken to be reinstated without the requirement that any further act, matter or thing take place.

Refund of Overpayments. If, as a consequence of any of the events contemplated in clauses 6.1(a(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: if [INSERT LOCAL GOVERNMENT ABBREVIATION] 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 [INSERT LOCAL GOVERNMENT ABBREVIATION]; and if [INSERT LOCAL GOVERNMENT ABBREVIATION]: has not paid that excess amount to the Lending Body; or has paid that excess amount to the Lending Body, and has had that excess amount remitted to it by the Lending Body under clause 7.1(a(a), [INSERT LOCAL GOVERNMENT ABBREVIATION] must refund the excess amount to the Owner, in each case within a reasonable time after [INSERT LOCAL GOVERNMENT ABBREVIATION] becomes aware or the Lending Body agrees (as relevant) that such overpayment has occurred. For the avoidance of doubt, nothing in this agreement requires [INSERT LOCAL GOVERNMENT ABBREVIATION] to refund any excess amount to the Owner if [INSERT LOCAL GOVERNMENT ABBREVIATION] has paid that excess amount to the Lending Body and the Lending Body has not remitted that excess amount to [INSERT LOCAL GOVERNMENT ABBREVIATION] under clause 7.1(a(a). CONFIRMATIONS Confirmations from Owner The Owner confirms that as at the date of this agreement: it has advised, in writing, each Existing Secured Financier (if any): that it intends to enter into this agreement; and of the details of the Environmental Upgrade Charge that is expected to be declared by [INSERT LOCAL GOVERNMENT ABBREVIATION] in respect of the Land under this agreement, in accordance with its obligations under section 181B(2) of the Local Government Act; and each Tenant that would be liable to pay for all or part of the Environmental Upgrade Charge levied under this agreement, has been provided with a statement specifying: the total amount of the payments that the Tenant would be required to make; and a repayment schedule that details when the Tenant’s liability would become payable and, if the Tenant’s liability can be paid by instalment, the amount and timing of each instalment; and that the repayment schedule may be amended as contemplated in clause 6.1; and that the Tenant may consent or object, in writing, to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; and each Tenant that has received a statement as contemplated in clause 8.1(b(b) has consented to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; it has notified [INSERT LOCAL GOVERNMENT ABBREVIATION] of: details of all registered and unregistered mortgages over the Land including: the total amount owing in respect of each mortgage; or if a relevant mortgage is held against two or more properties including the Land, the proportion of the debt secured by the mortgage that applies to the Land calculated in accordance with section 181B(5) of the Local Government Act; and details of all taxes, rates and charges owing on the Land (including the total amount owing in respect of each tax, rate or charge) imposed by or under an Act; and it has provided [INSERT LOCAL GOVERNMENT ABBREVIATION] with the statutory declarations required under section 181B(4) of the Local Government Act.

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: if [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC 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 [INSERT LOCAL GOVERNMENT ABBREVIATION]MCC; and if [INSERT LOCAL GOVERNMENT ABBREVIATION]MCC: has not paid that excess amount to the Lending Body; or has paid that excess amount to the Lending Body, and has had that excess amount remitted to it by the Lending Body under clause 7.1(a), [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC must refund the excess amount to the Owner, in each case within a reasonable time after [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC becomes aware or the Lending Body agrees (as relevant) that such overpayment has occurred. For the avoidance of doubt, nothing in this agreement requires [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC to refund any excess amount to the Owner if [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC has paid that excess amount to the Lending Body and the Lending Body has not remitted that excess amount to [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC under clause 7.1(a). CONFIRMATIONS Confirmations from Owner The Owner confirms that as at the date of this agreement: it has advised, in writing, each Existing Secured Financier (if any): that it intends to enter into this agreement; and of the details of the Environmental Upgrade Charge that is expected to be declared by [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC in respect of the Land under this agreement, in accordance with its obligations under section 181B(227N(2) of the Local Government City of Melbourne Act; and each Tenant that would be liable to pay for all or part of the Environmental Upgrade Charge levied under this agreement, has been provided with a statement specifying: the total amount of the payments that the Tenant would be required to make; and a repayment schedule that details when the Tenant’s liability would become payable and, if the Tenant’s liability can be paid by instalment, the amount and timing of each instalment; and that the repayment schedule may be amended as contemplated in clause 6.1; and that the Tenant may consent or object, in writing, to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; and each Tenant that has received a statement as contemplated in clause 8.1(b) has consented to the imposition of the Environmental Upgrade Charge in the manner set out in the statement; it has notified [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC of: details of all registered and unregistered mortgages over the Land including: the total amount owing in respect of each mortgage; or if a relevant mortgage is held against two or more properties including the Land, the proportion of the debt secured by the mortgage that applies to the Land calculated in accordance with section 181B(527N(5) of the Local Government City of Melbourne Act; and details of all taxes, rates and charges owing on the Land (including the total amount owing in respect of each tax, rate or charge) imposed by or under an Act; and it has provided [INSERT LOCAL GOVERNMENT ABBREVIATION] MCC with the statutory declarations required under section 181B(427N(4) of the Local Government City of Melbourne Act. Confirmations from Owner and Lending Body Each of the Owner and the Lending Body confirms that: a default by any party under this agreement will not in itself constitute a default under any Transaction Document (other than this agreement); and a default by any person under any Transaction Document (other than this agreement) will not in itself constitute a default under this agreement. REINSTATEMENT OF RIGHTS Under law relating to a person who is Insolvent, a person may claim that a transaction (including a payment) in relation to this agreement is void or voidable. If a claim is made and upheld, conceded or compromised, then: the Lending Body is immediately entitled as against the Owner to the rights in respect of the Charge Payments and the Prepayments (as applicable) to which it was entitled immediately before the transaction; and the Payment Schedule as at the Charge Payment Date or the Prepayment Date (as applicable) which is deemed to be void or voidable is taken to be reinstated without the requirement that any further act, matter or thing take place.