Calculation of Operating Earnings Sample Clauses

Calculation of Operating Earnings. A statement of the Operating Earnings, prepared by AmeriPath senior management, will be delivered to the Sellers, along with the Applicable Payment Amount required under the Contingent Notes (to the extent, and solely to the extent, that such statement indicates that the Minimum Target has been met or exceeded for such period), as calculated by AmeriPath based upon such statement of Operating Earnings, as soon as practicable following the end of each twelve month period, but in all events within 90 days after the end of each such period. If the holders of a majority of the outstanding principal balance of the Contingent Notes (the "Holders") wish to challenge the calculation of Operating Earnings, they may do so by giving written notice of such objection (the "Objection Notice") to AmeriPath, signed by such Holders, within 90 days after receipt of such statement of Operating Earnings. The Objection Notice shall set forth in reasonable detail the Holders' calculation of Operating Earnings (or Cumulative Operating Earnings, as the case may be). If an Objection Notice is so timely delivered to AmeriPath, AmeriPath and the Holders shall use their best efforts to resolve as soon as practicable any difference of opinion. If they are unable to resolve such difference within 90 days after receipt by AmeriPath of the Objection Notice from the Holders, the matter shall be referred to another independent public accounting firm of similar experience and reputation as the Auditor acceptable to the Sellers and the Purchaser, whose decision shall be final and binding on all parties. If, as a result of such written determination, there is an increase in the Operating Earnings or Cumulative Operating Earnings from that set forth in the Operating Earnings statement to which the dispute relates, then, within twenty (20) days from receipt of such determination, AmeriPath shall pay each Seller the difference between the payments (including principal and all interest accrued on the underpayment of such principal through the date of payment) which should have been paid to Sellers based on the revised Operating Earnings or Cumulative Operating Earnings statement and the actual payments previously made by AmeriPath to the Sellers with respect to such Operating Earnings statement. In the event that any dispute concerning Operating Earnings or Cumulative Operating Earnings is submitted to such independent auditor for resolution, the non-prevailing party shall pay the reasonable fees...
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Related to Calculation of Operating Earnings

  • Definition of Operating Expenses Operating Expenses" shall mean and include all expenses incurred and payable in connection with the ownership, operation, maintenance, repair and management of the Premises and the improvements thereon and, without restricting the generality of the foregoing, shall include:

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Duration of Operating Expense Limit The Operating Expense Limit with respect to the Fund shall remain in effect during the term of this Agreement.

  • Hours of Operation You can access automated account information through the Service 7 days a week, 24 hours a day. There may be times, however, when all or part of the Service is unavailable due to system outages or maintenance. We assume no responsibility for any damage or delay that may result from such unavailability.

  • Statement of Operations Statement of Changes in Net Assets.

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

  • PERIOD OF OPERATION Subject to certification, this Agreement shall come into force from the first pay period commencing on or after 1st December 2002 and shall remain in force until 31 October 2005.

  • SUSPENSION OF OPERATIONS Concessionaire shall, at the direction of Department, immediately suspend, delay or interrupt Concessionaire’s operation of all or any part of the Concession Premises for such period of time as Department may determine to be appropriate to protect the Concession Premises and/or public health, safety, and welfare due to the occurrence of hazardous work conditions, emergency conditions, and/or any other cause including, but not limited to, Concessionaire's failure to perform any of the covenants, agreements, and conditions contained in this Agreement on its part to be performed. Concessionaire hereby waives any claim, and Department shall not be liable to any party claiming through Concessionaire, for damages, payment abatement, or compensation as a result of Department's actions under this Paragraph or this Agreement. Department's suspension of Concessionaire's operations shall be in addition to any other right or remedy available by law or in equity.

  • Annual Accounting Period The annual accounting period of the Company shall be its taxable year. The Company’s taxable year shall be selected by the Member, subject to the requirements and limitations of the Code.

  • Fiscal Year; Accounting The Company's fiscal year shall be the calendar year with an ending month of December.

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