Annual Reconciliations Sample Clauses

Annual Reconciliations. In the event that the Parties discover any material data errors, omissions or misclassifications of employee status that impacts the valuation of the pension obligations and the amount of any pension asset transfer or the valuation of the APBO and the amount of any reimbursement, upon notification and verification, the Parties shall correct the amount of the affected pension asset transfers or APBO reimbursement using the same bases and methods described herein with respect to the original pension asset transfers and APBO reimbursement. The Parties shall take all necessary actions to transfer the benefit liabilities associated with the transferred assets and to retroactively correct the misclassifications of affected employees.
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Annual Reconciliations. The Agency shall conduct annual cost reconciliations to determine the amount of cost savings achieved by the Health Plan for the dates of service in the period being reconciled. The Agency shall calculate the aggregate amount of actual payments made on behalf of the Health Plan’s enrollees. 1. Only payments for covered services for dates of service within the reconciliation period and paid within six (6) months after the last date of service in the reconciliation period will be included; however, the reconciliation will include an adjustment to include claims incurred but not reported (IBNR) that could be received after the annual reconciliation is conducted. This allows for a complete accounting of claims for the reconciliation period. The Agency will make the necessary adjustments to any amounts owed to or payable by the Agency based on the results of the annual reconciliation. The annual reconciliation IBNR adjustment is calculated as follows: a. For Health Plans with at least thirty (30) months of claims experience, the IBNR is based on the Health Plan’s actual claims experience over the last thirty (30) months. b. For Health Plans with less than thirty (30) months of claims experience, the IBNR is based on the average IBNR for all Health Plans with at least thirty (30) months of claims experience. 2. The reconciliation of Reform populations will be separate from non-Reform populations. 3. The aggregated PCCB minus the aggregate adjusted actual payments for the dates of service included in the reconciliation period results in the savings pool. 4. If the savings pool is more than the administrative allocation, the Agency shall allocate one- hundred percent (100%) of the difference between the savings pool and the total administrative allocation due to the Health Plan. 5. If the savings pool is less than the administrative allocation, the Health Plan will refund to the Agency the lesser of: a. The difference between the savings pool and the total administrative allocation due for the time period included in the reconciliation; or b. Fifty percent (50%) of the total administrative allocation due. 6. If the administrative allocation has been garnished (withheld) by the Agency for sanction incurred, the amount of the administrative allocation accounted for in the reconciliation will include the entire allocation, both paid and withheld. 7. The Agency shall provide the Health Plan with the results of the reconciliation within forty- five (45) calendar days a...
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Annual Reconciliations. (a) If, with respect to a Fiscal Year, SpinCo has failed to submit a Yearly Base Forecast for each Product SKU that is equal or more than the Purchase Commitment (or Termination Purchase Commitment, as applicable) for such Product SKU for such Year, following the end of such Fiscal Year, the Joint Operations Group shall review the aggregate Product ordered by SpinCo by Product SKU and the Xxxx-Up received by Parent based on such orders in such Fiscal Year (treating as received any Xxxx-Up that was not received on account of any underruns pursuant to Section 5.2). If Parent has received less than one hundred percent (100%) of the Xxxx-Up for a Product SKU that Parent would have received had SpinCo submitted and complied with a Yearly Base Forecast for such Product SKU equal to the Purchase Commitment for such Product SKU for such Fiscal Year, then SpinCo will pay to Parent a payment that will be calculated, on a Product SKU-by-Product SKU basis, as the Lost Xxxx-up for such Fiscal Year as a result of such failure. Any amount owed by SpinCo under this Section 4.8(a) shall be payable by SpinCo within ninety (90) days of receipt of an invoice therefor from Parent. (b) Following the end of each Fiscal Year of this Agreement, in the event that SpinCo failed to order any Product SKU in the quantities set forth in the Yearly Base Forecast for such Fiscal Year, the Joint Operations Group shall review the aggregate Product ordered by SpinCo by Product SKU and the Absorption and Xxxx-Up received by Parent based on such orders in such Fiscal Year (treating as received any Absorption or Xxxx-Up that was not received on account of any underruns pursuant to Section 5.2). If Parent has received less than one hundred percent (100%) of either or both of the Absorption or Xxxx-Up with respect to a Product SKU that Parent would have received had SpinCo complied with the Yearly Base Forecast for such Product SKU for such Fiscal Year, then SpinCo will pay to Parent a payment that will be calculated, on a Product SKU-by-Product SKU basis, as (a) the Absorption Variance for such Fiscal Year (if any), plus (b) the Lost Xxxx-up for such Fiscal Year (if any and to the extent not owed under Section 4.8(a)), in each case ((a) and (b)), as a result of such shortfall. Notwithstanding the foregoing, if a Major Supply Failure occurs and the Updated Forecast modifies the Yearly Base Forecast under Section 6.4(d)(iii), the annual reconciliation under this Section 4.8(b) shall not occur unti...
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Annual Reconciliations. 18.1 By the end of the first quarter of the following Financial Year the District Council shall send to the County Council a reconciliation (each such reconciliation being an "Annual Reconciliation") in accordance with clause 18.5 below in respect of each Account detailing individual Income and Expenditure Items and the total of all Income and Expenditure Items over the course of the preceding Financial Year and which, under the terms of this Agreement, fail to be accounted for in the Accounts. 18.2 Each Annual Reconciliation shall detail actual Income and Expenditure Items to have affected the Accounts during the preceding Financial Year. 18.3 Each Annual Reconciliation shall include a closing balance for each of the Accounts and a comparison of that closing balance against the relevant Annual Budget used to determine the Agreed On-Street Annual Costs and the Agreed Off-Street Annual Costs. 18.4 Within 30 days of the Expiry Date the District Council shall submit to the County Council a final reconciliation ("Final Reconciliation") which shall include all the same information required to be included in an Annual Reconciliation together with an invoice for any sum due to it from the County Council under the terms of this Agreement. Payment may be due If CCC introduce new TROs, CPZ’s and they cost more to enforce/ manage than any income they generate to the District Council. These costs are extra to this Agreement and the District Council is entitled to claim for any deficits generated as a result of such increases. 18.5 Within 30 days of the date on which the District Council submits an Annual Reconciliation or a Final Reconciliation to the County Council the District Council shall notify the County Council of the balance in the On-Street Sub-Section of the Joint Enforcement Account and the District Council shall retain any surpluses under the terms of this agreement. 18.6 Any Annual Reconciliation or a Final Reconciliation prepared in accordance with this Agreement shall reflect the following policies: 18.6.1 the parties shall agree how the actual costs of enforcement are to be apportioned between the On-Street Sub-Section and the Off-Street Sub Section of the Joint Enforcement Account for the purposes of the Annual Reconciliation. 18.6.2 any Annual Reconciliation or Final Reconciliation shall clearly detail the amount of any cross- subsidy of either sub-section of the Joint Enforcement Account. 18.6.3 any surplus or deficit shall be dealt with in accordan...
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Annual Reconciliations. (a) Subject to Section 9.5.1(a), within sixty (60) calendar days after the last day of each Calendar Year during the Term, or portion thereof if applicable, GSK will calculate the royalty payments due to ALLERGAN pursuant to Sections 3.2.1 and, if applicable, 3.2.2 (a) for such Calendar Year. In the event the total payment due pursuant to Section 3.2.1 and, if applicable, 3.2.2 (a) in any Calendar Year is greater than the total for each such amount that GSK has paid under Section 3.6.1 in such Calendar Year, the difference will be paid by GSK to ALLERGAN within sixty (60) days after the last day of such Calendar Year, or portion thereof if applicable. In the event the total payment due pursuant to Section 3.2.1 and, if applicable, 3.2.2 (a) in any Calendar Year is less than the total for each such amount that GSK *** Certain confidential information contained in this document, marked with 3 asterisks, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Act of 1934, as amended. has paid under Section 3.6.1 in such Calendar Year, the difference will be paid by ALLERGAN to GSK within sixty (60) days after the last day of such Calendar Year, or portion thereof if applicable. (b) Within sixty (60) calendar days after the last day of each Calendar Year during the Tail Period, or portion thereof if applicable, ALLERGAN will calculate the Tail Period Payments due to GSK pursuant to Section 3.4 for such Calendar Year. In the event the total payment due pursuant to Section 3.4 in any Calendar Year is greater than the total amount that ALLERGAN has paid under Section 3.6.2 in such Calendar Year, the difference will be paid by ALLERGAN to GSK within sixty (60) days after the last day of such Calendar Year, or portion thereof if applicable. In the event the total payment due pursuant to Section 3.4 in any Calendar Year is less than the total amount that ALLERGAN has paid under Section 3.6.2 in such Calendar Year, the difference will be paid by GSK to ALLERGAN within sixty (60) days after the last day of such Calendar Year, or portion thereof if applicable.
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Annual Reconciliations. The process by which Xxxxx and Seller reconcile and offset amounts due each other as provided in Section 2.6.
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Annual Reconciliations. If, for any Operating Year, the amount of the installments of the Annual Operating Fee paid to Operator shall be less than or more than the actual Annual Operating Fee payable for such Operating Year, based upon the final determination of Gross Revenue for such year in the Annual Statement, then, within fifteen (15) days after the delivery of such Annual Statement to Owner, Operator shall withdraw from the Operating Accounts the net amount of any such underpayment or, if overpaid, pay into the Operating Accounts the net amount of overpayment.
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Annual Reconciliations. The Agency shall conduct annual cost reconciliations to determine the amount of cost savings achieved by the Health Plan for the dates of service in the period being reconciled. The Agency shall calculate the aggregate amount of actual payments made on behalf of the Health Plan’s enrollees.
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Related to Annual Reconciliations

  • Annual Reconciliation As soon as practicable after the end of each calendar year, Landlord shall prepare and forward to Tenant a statement of the actual Operating Expenses and Common Area Maintenance Expenses for such year. If the total amount Tenant actually paid for estimated Operating Expenses and Common Area Maintenance Expenses is less than Tenant’s Proportionate Share of the Building of the actual Operating Expenses, and Tenant’s Proportionate Share of Common Area Expenses, Tenant shall pay to Landlord as Additional Rent, in one lump sum, the difference between the total amount actually paid by Tenant and the amount Tenant should have paid pursuant to subparagraph (b)(2) above; this lump sum payment shall be made within thirty (30) days of receipt of Landlord’s xxxx therefor; or if the total amount Tenant actually paid for such estimated Operating Expenses and Common Area Maintenance Expenses is more than Tenant’s Proportionate Share of the actual amounts of the expenses, then Landlord shall remit the excess to Tenant within thirty (30) days of making such determination. Tenant’s obligation to pay any increase due over the prior year’s actual Operating Expenses (excluding utilities and snow removal which shall not be subject to the cap), for any calendar year shall be limited to a per annum cumulative increase of five percent (5%), compounded annually. Increases in Taxes and Insurance, set forth in paragraph 4(c) shall not be subject to any limit or “cap”. By way of example only, if the portion of Operating Expenses which is subject to the foregoing limitation (collectively, “Controllable Operating Expenses”) shall be equal to $5.00 per rentable square foot in calendar year 2004, Tenant’s Proportionate Share of those Controllable Operating Expenses may not exceed $5.25 in calendar year 2005, Further, if Tenant’s Proportionate Share of those Controllable Operating Expenses in 2005 equals $5.20 per rentable square foot, then Tenant’s Proportionate Share of Controllable Operating Expenses in 2006 shall not exceed $5.56 (i.e., $5.25 x 1.05 + the cumulative carry forward of $.05 since Tenant’s Proportionate Share of those Controllable Operating Expenses in 2005 was $.05 less than the applicable cap).

  • Quarterly and Annual Reconciliation 10.6.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 days of the end of the quarter at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year within 30 days to take into account the Energy Accounts, Tariff adjustment payments, Tariff Rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this Agreement. 10.6.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year as the case may be has been finally verified and adjusted, the SPD and SECI shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the SPD shall make appropriate adjustments in the next Monthly Bill. Late Payment Surcharge/ interest shall be payable in such a case from the date on which such payment had been made to the invoicing Party or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of Article 16.

  • Reconciliations On a daily basis, Subadviser shall review reports of the Account's portfolio holdings as provided to Subadviser by the Custodian and shall report as promptly as possible on the same business day to the Custodian and to Client any discrepancies between the prices assigned to the securities in the Account and the prices that Subadviser believes should be assigned to them. On an ongoing basis, Subadviser shall monitor market developments for significant events occurring after the close of the primary markets for particular securities held by the Account that may materially affect their value, and shall promptly notify Client of any such event that comes to Subadviser's attention. On a monthly basis, Subadviser shall reconcile security and cash positions, and market values to the Custodian's records and report discrepancies to Client within ten (10) business days after the end of the month, or within three (3) business days of receipt of the custodial statement, whichever comes later.

  • Reconciliation In the event that the Corporate Taxpayer and a Member are unable to resolve a disagreement with respect to the matters governed by Sections 2.03, 3.01(b), 4.02 and 6.02 within the relevant period designated in this Agreement (“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable to both parties. The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and such Member agree otherwise, the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or such Member or other actual or potential conflict of interest. If the parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Exchange Basis Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within thirty (30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen (15) calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporate Taxpayer, subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer, except as provided in the next sentence. The Corporate Taxpayer and such Member shall bear their own costs and expenses of such proceeding, unless (i) the Expert substantially adopts such Member’s position, in which case the Corporate Taxpayer shall reimburse such Member for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii) the Expert substantially adopts the Corporate Taxpayer’s position, in which case such Member shall reimburse the Corporate Taxpayer for any reasonable out-of-pocket costs and expenses in such proceeding. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.09 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.09 shall be binding on the Corporate Taxpayer and such Member and may be entered and enforced in any court having jurisdiction.

  • Contract Reconciliation Grantee, within 45 calendar days after the end of each fiscal term year, will submit to the System Agency email box, XxxxxxxxxXxxxx.Xxxxxxxxx@xxxx.xxxxx.xx.xx, financial and reconciliation reports required by System Agency in forms as determined by System Agency.

  • Reconciliation Statements if, as a result of any change in accounting principles and policies from those used in the preparation of the audited financial statements referred to in subsection 5.3, the consolidated financial statements of Company and its Subsidiaries delivered pursuant to subdivisions (i), (ii), (iii) or (xiii) of this subsection 6.1 will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then (a) together with the first delivery of financial statements pursuant to subdivision (i), (ii), (iii) or (xiii) of this subsection 6.1 following such change, consolidated financial statements of Company and its Subsidiaries for (y) the current Fiscal Year to the effective date of such change and (z) the two full Fiscal Years immediately preceding the Fiscal Year in which such change is made, in each case prepared on a pro forma basis as if such change had been in effect during such periods, and (b) together with each delivery of financial statements pursuant to subdivision (i), (ii), (iii) or (xiii) of this subsection 6.1 following such change, a written statement of the chief accounting officer or chief financial officer of Company setting forth the differences which would have resulted if such financial statements had been prepared without giving effect to such change;

  • Account Reconciliation You will verify and reconcile any out-of-balance condition, and promptly notify the Credit Union of any errors within the time periods established in the Membership and Account Agreement after receipt of your account statement. If notified within such period, the Credit Union shall correct and resubmit all erroneous files, reports, and other data at the Credit Union's then standard charges, or at no charge, if the erroneous report or other data directly resulted from the Credit Union's error.

  • Reconciliation of Accounts Any reconciliation of Accounts performed by any party hereto, or any Subservicer or Subcontractor shall be prepared no later than 45 calendar days after the bank statement cutoff date. * * * * * *

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

  • On Reconciliation and Settlement If the year-end reconciliation and settlement process demonstrates that the HSP received Funding in excess of its confirmed funds, the LHIN will require the repayment of the excess Funding.

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