Common use of Wash-up Invoices Clause in Contracts

Wash-up Invoices. When: (a) Estimates: in respect of Estimated Quantities, Reconciled Quantities are made available to Transpower; or (b) Revised Reconciled Quantities: a reconciled quantity is revised, Transpower will: (c) Undercharge: in the case of an undercharge, invoice the Customer under clause 10.1 for the amount of the undercharge together with interest at the Interest Rate calculated from the Due Date of the original invoice to the Due Date of the invoice showing the undercharge; and (d) Overcharge: in the case of an overcharge, send the Customer a credit note with the next invoice under clause 10.1 for the amount of the overcharge together with interest at the Interest Rate calculated from the Due Date of the original invoice to the Due Date of that next invoice. If the amount of the overcharge plus interest exceeds the amount of the Charges due that month, Transpower will pay to the Customer such excess amount on or before the Due Date of that next invoice.

Wash-up Invoices. When: (a) Estimates: in respect of Estimated Quantitiesestimates under clause 9.1(a), Reconciled Quantities are made available to Transpower; or (b) Revised Reconciled Quantities: a reconciled quantity Reconciled Quantity is revised, Transpower will: (c) Undercharge: in the case of an undercharge, invoice the Customer under clause 10.1 for the amount of the undercharge together with interest at the Interest Rate calculated from the Due Date of the original invoice to the Due Date of the invoice showing the undercharge; and (d) Overcharge: in the case of an overcharge, send the Customer a credit note with the next invoice under clause 10.1 for the amount of the overcharge together with interest at the Interest Rate calculated from the Due Date of the original invoice to the Due Date of that next invoice. If the amount of the overcharge plus interest exceeds the amount of the Charges due that month, Transpower will pay to the Customer such excess amount on or before the Due Date of that next invoice.