Common use of Repayment of Overpayments Clause in Contracts

Repayment of Overpayments. 3.6.1. Subject to subclause 3.6.2 the Producer shall pay the full amount of any Overpayment subject to the following conditions: (a) The Producer shall not be required to repay an Overpayment which is not greater than $10,000.00 or 10% of the total Advances, whichever is greater. The only Overpayment payable by the Producer is the amount which exceeds this limit; (b) The Overpayment amount payable by the Producer shall include all Interest, and need not be accompanied by proof of sale or any accrued RWPS Interest for failing to provide proof of sale; (c) The amount of any Overpayment may be reduced by the value of security granted by the Producer to the Administrator, which is acceptable to the Administrator, over other Agricultural Products which are not subject to existing security granted to the Administrator or any third party provided, that the Administrator is granted a first charge against the additional security; (d) In the event the Producer fails to pay the Overpayment or provide adequate additional security, the Administrator may declare the Producer in Default; (e) An Overpayment shall not arise with respect to an Advance made for Agricultural Products in Post-Production (in storage). 3.6.2. All Overpayments which occur without the fault of the Producer shall be repaid by the Producer to the Administrator within thirty (30) calendar days after the date that the Administrator mails or delivers to the Producer a written notice requiring the Producer to repay the Overpayment. If the Overpayment occurs at the fault of the Producer, the Producer shall pay the entire amount of the outstanding Advance Indebtedness within thirty (30) days’ notice to do so. 3.6.3. The Producer acknowledges that a recalculation of an Advance may occur, from time to time, by the Producer, without notice, as a result of changes to market prices, and which may result in an Overpayment with either a repayment or application of a new Advance against the Overpayment amount being required within the time specified in subclause 3.6.2.

Repayment of Overpayments. 3.6.1. Subject to subclause 3.6.2 3.6.2, the Producer shall pay the full amount of any Overpayment subject to the following conditions: (a) The Producer shall not be required to repay an Overpayment which is not greater than $10,000.00 or 10% of the total Advances, whichever is greater. The only Overpayment payable by the Producer is the amount which exceeds this limit; (b) The Overpayment amount payable by the Producer shall include all Interest, and need not be accompanied by proof of sale or any accrued RWPS Interest for failing to provide proof of sale; (c) The amount of any Overpayment may be reduced by the value of security granted by the Producer to the Administrator, which is acceptable to the Administrator, over other Agricultural Products which are not subject to existing security granted to the Administrator or any third party provided, that the Administrator is granted a first charge against the additional security; (d) In the event the Producer fails to pay the Overpayment or provide adequate additional security, the Administrator may declare the Producer in Default; (e) An Overpayment shall not arise with respect to an Advance made for Agricultural Products in Post-Production (in storage). 3.6.2. All Overpayments which occur without the fault of the Producer shall be repaid by the Producer to the Administrator within thirty (30) calendar days after the date that the Administrator mails or delivers to the Producer a written notice requiring the Producer to repay the Overpayment. If the Overpayment occurs at the fault of the Producer, the Producer shall pay the entire amount of the outstanding Advance Indebtedness within thirty (30) days’ notice to do so. 3.6.3. The Producer acknowledges that a recalculation of an Advance may occur, from time to time, by the Producer, without notice, as a result of changes to market prices, and which may result in an Overpayment with either a repayment or application of a new Advance against the Overpayment amount being required within the time specified in subclause 3.6.2.

Repayment of Overpayments. 3.6.1. 3.6.1 Subject to subclause 3.6.2 3.6.2, the Producer shall pay the full amount of any Overpayment subject to the following conditions: (a) The Producer shall not be required to repay an Overpayment which is not greater than $10,000.00 or 10% of the total Advances, whichever is greater. The only Overpayment payable by the Producer is the amount which exceeds this limit; (b) The Overpayment amount payable by the Producer shall include all Interest, and need not be accompanied by proof of sale or any accrued RWPS Interest Penalties for failing to provide proof of sale; (c) The amount of any Overpayment may be reduced by the value of security granted by the Producer to the Administrator, Administrator which is acceptable to the Administrator, over other Agricultural Products which are not subject to existing security granted to the Administrator or any third party provided, that the Administrator is granted a first charge against the additional security; (d) In the event the Producer fails to pay the Overpayment or provide adequate additional security, the Administrator may declare the Producer in Default; (e) An Overpayment shall not arise with respect to an Advance made for Agricultural Products in Post-Production (in storage). 3.6.2. 3.6.2 All Overpayments which occur without the fault of the Producer shall be repaid by the Producer to the Administrator within thirty (30) calendar days after the date that the Administrator mails or delivers to the Producer a written notice requiring the Producer to repay the Overpayment. If the Overpayment occurs at the fault of the Producer, the Producer shall pay the entire amount of the outstanding Advance Indebtedness within thirty (30) days’ notice to do so. 3.6.3. 3.6.3 The Producer acknowledges that a recalculation of an Advance may occur, from time to time, by the Producer, without notice, as a result of changes to market prices, and which may result in an Overpayment with either a repayment or application of a new Advance against the Overpayment amount being required within the time specified in subclause 3.6.2.

Repayment of Overpayments. 3.6.1. 3.6.1 Subject to subclause 3.6.2 subsection 3.6.2, the Producer shall pay the full amount of any Overpayment subject to the following conditions: (a) The Producer shall not be required to repay an Overpayment which is not greater than $10,000.00 or 10% of the total Advances, whichever is greater. The only Overpayment payable by the Producer is the amount which exceeds this limit; (b) The Overpayment amount payable by the Producer shall include all Interest, and need not be accompanied by proof of sale or any accrued RWPS Interest Penalties for failing to provide proof of sale; (c) The amount of any Overpayment may be reduced by the value of security granted by the Producer to the Administrator, Administrator which is acceptable to the Administrator, over other Agricultural Products which are not subject to existing security granted to the Administrator or any third party provided, that the Administrator is granted a first charge against the additional security; (d) In the event the Producer fails to pay the Overpayment or provide adequate additional security, the Administrator may declare the Producer in Default; (e) An Overpayment shall not arise with respect to an Advance made for Agricultural Products in Post-Production (in storage). 3.6.2. 3.6.2 All Overpayments which occur without the fault of the Producer shall be repaid by the Producer to the Administrator within thirty (30) calendar days after the date that the Administrator mails or delivers to the Producer a written notice requiring the Producer to repay the Overpayment. If the Overpayment occurs at the fault of the Producer, the Producer shall pay the entire amount of the outstanding Advance Indebtedness within thirty (30) days’ notice to do so. 3.6.3. 3.6.3 The Producer acknowledges that a recalculation of an Advance may occur, from time to time, by the Producer, without notice, as a result of changes to market prices, and which may result in an Overpayment with either a repayment or application of a new Advance against the Overpayment amount being required within the time specified in subclause 3.6.2.