O-2006-2959 - Laserfiche WebLink

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the 200 MOD Project Cost, resulting in an overpayment by the Participant of its share, the Managing Participant shall refund such difference with interest accrued, at the Interest Rate compounded quarterly from the date deposited to the date of payment, to such Participant within 90 days of the date of the receipt of the audit. If a Participant's share of the 200 MOD Project Cost, as determined by the audit, is more than the share of the 200 MOD Project Cost paid by the Participant, resulting in an underpayment by such Participant of its share, the Participant shall pay such difference, with interest determined at the Interest Rate compounded quarterly from the date payment is required to the date of payment, to the Managing Participant within 90 days of the date of the receipt of the audit by the Participant. Any of the Participants who disagree with the audit shall have the right to pay any amounts under protest and seek refunds, plus reasonable attorneys fees and court costs, in a court of appropriate jurisdiction or pursue any other available remedy at law or in equity. If the Participant does not pay its underpayment within such 90 day period, the Managing Participant shall pay same and the Participant's Demand Allocation Factor shall be reduced, and the Managing Participant's Demand Allocation Factor shall be increased, to reflect the percentage deficit of the payment. The reduction in the Demand Allocation Factor shall be determined by dividing the amount owed by the amount previously paid, with the resulting percentage used to reduce the existing Demand Allocation Factor. ARTICLE V. SUBSTANTIAL COMPLETION When the Managing Participant Director gives the construction contractor notice of Substantial Completion for the 200 MOD Project, the Managing Participant shall notify each Hc\EWB\SOUTHEDOC 8 9/19/2006