Annual Adjustment. At the end of each Fiscal Year and following receipt by Manager of the annual accounting referred to in Article 10, an adjustment will be made to such annual account, if necessary and if available, so that the appropriate amount shall have been deposited in the Reserve.
Annual Adjustment. The Company shall pay or provide to the Administrator the benefit of any Post-Inception Date Assessments which have been applied to reduce the Company’s premium tax liability (“Premium Tax Credits”). The Company shall provide to the Administrator by April 15 of each year a statement of the amount (the “Annual Adjustment”) of (i) premium taxes (including retaliatory taxes) paid with respect to premiums collected or annuitizations occurring during the prior calendar year (to the extent that such taxes constitute the Company’s General Account Liabilities), less (ii) estimated premium taxes paid by the Administrator to the Company with respect to such premiums under the provisions of Article XI, less (iii) Premium Tax Credits for the prior calendar year. By May 31 of each year the Administrator shall pay to the Company the Annual Adjustment, if a positive amount, and the Company shall pay or credit to the Administrator the absolute value of the Annual Adjustment, if a negative amount.
Annual Adjustment. 1.3.1 NGC's Demand related Use of System Charges shall be calculated on the basis of actual Demand (Active Power) attributable to each User at each Grid Supply Point for each of a number of peak half hours as notified by NGC to the User under paragraph 2.1 of this Appendix E.
1.3.2 On or before 1st March each Financial Year NGC shall: -
(i) determine from meter readings of Energy Metering Equipment the actual Demand (Active Power) attributable to each User at each Grid Supply Point for each of the Number of Peak Half Hours applicable during such Financial Year; and
(ii) shall compare the User's highest Registered Capacity during such year with the Registered Capacity used when estimating the charges due during such Financial Year;
1.3.3 NGC shall then promptly calculate on the basis of the actual position determined in accordance with paragraph 1.3.2 the amount of Demand related or Capacity related Use of System Charges (as the case may be) that would have been payable by the User under this Supplemental Agreement during each month during that Financial Year if they had been calculated on the basis of that of the actual position (the "Actual Amount"). NGC shall then compare the Actual Amount with the amount of Demand related or Capacity related Use of System Charges (as the case may be) paid during each month during that Financial Year by the User under this Supplemental Agreement (the "Notional Amount").
1.3.4 NGC shall then prepare a reconciliation statement and send it to the User. Such statement shall specify the Actual Amount and the Notional Amount for each month during the relevant Financial Year and, in reasonable detail, the information from which such amounts were derived and the way in which they were calculated.
1.3.5 Together with the reconciliation statement NGC shall send the User an invoice in relation to any sums shown by the reconciliation statement to be due to NGC and interest thereon calculated pursuant to paragraph 1.3.6 below. Forthwith following receipt of any reconciliation statement the User shall send to NGC an invoice in relation to any sum shown by the reconciliation statement to be due to the User and interest thereon calculated pursuant to paragraph 1.3.6 below. Such invoices shall be payable on or before 31st March in such Financial Year.
1.3.6 In respect of each month during that Financial Year:-
(a) the User shall, following receipt of an appropriate invoice, pay to NGC an amount equal to the amount (if any) by which the A...
Annual Adjustment. The Company shall pay or provide to the Administrator the benefit of any Post-Effective Date Assessments which have been or can be applied to reduce the Company’s premium tax liability (“Premium Tax Credits”). The Company shall provide to the Administrator by March 15 of each year a statement of the amount of Premium Tax Credits for the prior calendar year and the Company will pay or credit to the Administrator an amount equal to such Premium Tax Credits.
Annual Adjustment. Within one hundred twenty (120) days after the close of each calendar year during the Term, or as soon after the one hundred twenty (120) day period as reasonably practicable, Landlord shall deliver to Tenant a statement of the adjustment to the Taxes for the prior calendar year. If, on the basis of the statement, Tenant owes an amount that is less than the estimated payments for the prior calendar year previously made by Tenant, Landlord shall apply the excess to the next payment of Taxes due. If, on the basis of the statement, Tenant owes an amount that is more than the amount of the estimated payments made by Tenant for the prior calendar year, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of the statement. The year-end statement shall be binding upon Tenant unless Tenant notifies Landlord in writing of any objection thereto within thirty (30) days after Xxxxxx’s receipt of the year end statement. In addition, if, after the end of any calendar year or any annual adjustment of Taxes for a calendar year, any Taxes are assessed or levied against the Premises, Building, Lot or Project that are attributable to any period within the Term (e.g., supplemental taxes or escaped taxes), Landlord shall notify Tenant of its share of such additional Taxes and Tenant shall pay such amount to Landlord within ten (10) days after Xxxxxxxx’s written request therefor.
Annual Adjustment. Within ten (10) days after the receipt of Landlord's statement showing the total amount paid in advance by Tenant and a copy of the insurance bills showing the actual monies paid or to be paid by Landlord, there shall be an adjustment between Landlord and Tenant. Tenant shall pay to Landlord on demand the difference between the amount paid by Tenant and the actual amount due. If the total amount paid by Tenant hereunder for any such calendar year shall exceed such actual amount due from Tenant for such calendar year, the excess shall be credited by Landlord against any amounts then due and owing by Tenant to Landlord and any remaining net surplus shall then be refunded by Landlord to Tenant. Failure of Tenant to pay Tenant's Insurance Costs in the manner and time provided herein shall constitute an event of default hereunder.
Annual Adjustment. From January 1 of the next year, the loan interest rate shall be adjusted, on the basis of the LPR recently published, in accordance with the increased or decreased percentage points agreed herein;
Annual Adjustment. The Company shall pay or provide to the Administrator the benefit of any Post-Effective Date Assessments which have been or can be applied to reduce the Company’s premium tax liability (“Premium Tax Credits”). The Company shall provide to the Administrator by March 15 of each year a statement of the amount (the “Annual Adjustment”) of (i) premium taxes due with respect to premiums collected during the prior calendar year (to the extent that such premium taxes constitute Reinsured Risks with respect to the Reinsured Contracts), less (ii) estimated premium taxes paid by the Administrator to the Company with respect to such premiums under the provisions of Article VII, less (iii) Premium Tax Credits for the prior calendar year. By March 30 of each year the Administrator shall pay to the Company the Annual Adjustment, if a positive amount, and the Company will pay or credit to the Administrator the Annual Adjustment, if a negative amount.
Annual Adjustment. Following the end of each calendar year of the Lease Term, Landlord shall submit to Tenant a statement setting forth the exact amount of Tenant’s Pro Rata Share of Taxes, Landlord’s Insurance, and Common Facilities Charges for the previous calendar year (the “Statement”). The Statement shall also set forth the estimated the Monthly Deposits for the current calendar year. If Landlord determines that the actual amount of Tenant’s Pro Rata Share of Taxes, Landlord’s Insurance, and Common Facilities Charges, collectively for the previous calendar year exceeds the Monthly Deposits for such previous calendar year, Tenant shall pay to Landlord, within ten (10) days after receipt of the Statement, such deficiency in the amount reflected in the Statement. If Landlord determines that the Monthly Deposits exceeded the actual amount of Tenant’s Pro Rata Share of Taxes, Landlord’s Insurance and Common Facilities Charges, collectively for the previous calendar year, the excess amount shall, at Landlord’s option and, except as may be otherwise provided by law, either be paid to Tenant or credited against future Monthly Deposits or against Basic Rent, Additional Rent or other amounts payable by Tenant under this Lease. If Tenant disputes any Statement submitted by Landlord, including the estimated Monthly Deposits, Tenant shall give Landlord notice of such dispute within thirty (30) days after Landlord provides the Statement to Tenant. If Tenant does not give Landlord timely notice, Tenant waives its right to dispute that particular Statement and Tenant shall be deemed to have accepted the calculation of the Taxes, Landlord’s Insurance and Common Facilities Charges and Tenant’s Pro Rata Share thereof for such calendar year, and Tenant shall not be thereafter entitled to dispute or object to that particular Statement or the calculation thereof. If Tenant timely objects and provided that Tenant has paid the entire amount of Tenant’s Pro Rata Share of Taxes, Landlord’s Insurance and Common Facilities Charges and is not in default of its obligations under this Lease, then Tenant for a period of thirty (30) days after Tenant’s notice may engage its own certified public accountants (“Tenant’s Accountants”) to verify the accuracy of the Statement objected to by Tenant. During such thirty (30) period, Tenant’s Accountants shall be entitled to examine the books and records of Landlord pertaining to that particular Statement, which examination shall be conducted only during the reg...
Annual Adjustment. The fees for the Services shall be adjusted each year as negotiated between the Parties in good faith based on prevailing market conditions and inflation.
