Calculation of Operating Fund Surpluses and Deficits Sample Clauses

Calculation of Operating Fund Surpluses and Deficits. Any positive balance in the Medicare Operating Fund remaining for a particular month shall be retained and held by Plan therein for a period of 225 days following the end of the month for which such calculation is being made (the "Substantial Completion Period"). At the end of said Substantial Completion Period, if there remains a positive balance in the Medicare Operating Fund for the month for which the calculation is being made (the "Target Month"), then the claims paid through the end of the Substantial Completion Period for the Target Month will be deemed to constitute 97% of all claims incurred during such Target Month. Any such remaining positive balance, less an amount equal to 3% of the total claims paid for the Target Month (which shall be retained as an agreed-upon amount for claims incurred but not reported ("IBNR") for the Target Month), shall be distributed to Network. On or before the 15th day of the thirteenth (13) month immediately following the end of the Target Month ("Final Completion Period"), Network shall be entitled to receive any positive balance remaining in the Medicare Operating Fund for the Target Month after deduction of any claims received for the Target Month during the period between the end of the Substantial Completion Date and the Final Completion Date. To the extent that claims received following the end of the Substantial Completion Period exceed the 3% IBNR reserve retained in the Medicare Operating Fund, such excess claims shall be deducted from the Medicare Operating Fund balances for months subsequent to the Target Month until recovered by Plan. In no event shall the expiration of the Initial Completion Period or the Final Completion Period be deemed to (i) release Network for liability with respect to claims incurred for Covered Services during the Target Month, or (ii) as an assumption by the Plan of risk for any such claim(s) regardless of when received. Distributions payable to Network hereunder shall be made monthly as to each Target Month within 15 days following the end of each Substantial Completion Period and Final Completion Period for the respective Target Month. For example, if there were first Members assigned to Network under this Agreement on January 1, 2009, the reconciliation for January 2009 would be completed on or before July 15, 2009. The reconciliation for February 2009 would then be completed on or before August 15th, 2009, and so on, in each case retaining the 3% IBNR factor in the manner pr...
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Related to Calculation of Operating Fund Surpluses and Deficits

  • Allocation of Excess Nonrecourse Liabilities For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s respective interest in Partnership profits shall be equal to such Holder’s Percentage Interest with respect to Partnership Common Units, except as otherwise determined by the General Partner.

  • Allocation of Taxable Income If any Fund delivers to its Auction Agent a notice in the form of Exhibit I to the Auction Agency Agreement designating all or a portion of any dividend on shares of any series of MuniPreferred of such Fund to consist of net capital gains or other income taxable for Federal income tax purposes, and BD is a Broker-Dealer for such series, such Auction Agent shall deliver such notice to BD on the Business Day following its receipt of such notice from such Fund. On or prior to the Auction Date referred to in such notice, BD will contact each of its customers that is a Beneficial Owner of shares of such series of MuniPreferred or a Potential Beneficial Owner of shares of such series of MuniPreferred interested in submitting an Order in the Auction to be held on such Auction Date, and BD will notify such Beneficial Owners and Potential Beneficial Owners of the contents of such notice. BD will be deemed to have notified such Beneficial Owners and Potential Beneficial Owners if, for each of them, (i) BD makes a reasonable effort to contact such Beneficial Owner or Potential Beneficial Owner by telephone, and (ii) upon failing to contact such Beneficial Owner or Potential Beneficial Owner by telephone BD mails written notification to such Beneficial Owner or Potential Beneficial Owner at the mailing address indicated in the account records of BD. The Auction Agent for any series of MuniPreferred shall be required to notify BD if it is a Broker-Dealer for such series within two Business Days after each Auction of such series that involves an allocation of income taxable for Federal income tax purposes as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.

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

  • CALCULATION OF NET ASSET VALUE U.S. Trust will calculate the Fund's daily net asset value and the daily per-share net asset value in accordance with the Fund's effective Registration Statement on Form N-2 (the "Registration Statement") under the Securities Act of 1933, as amended (the "Securities Act"), including its current prospectus. If so directed, U.S. Trust shall also calculate daily the net income of the Fund

  • Determination of Net Asset Value The Trustees shall cause the Net Asset Value of Shares of each Series or Class to be determined from time to time in a manner consistent with applicable laws and regulations. The Trustees may delegate the power and duty to determine Net Asset Value per Share to one or more Trustees or officers of the Trust or to a custodian, depository or other agent appointed for such purpose. The Net Asset Value of Shares shall be determined separately for each Series or Class at such times as may be prescribed by the Trustees or, in the absence of action by the Trustees, as of the close of regular trading on the New York Stock Exchange on each day for all or part of which such Exchange is open for unrestricted trading.

  • Determination Date Calculations; Application of Available Funds (a) On each Determination Date, the Servicer shall calculate the following amounts:

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Return of Contribution Nonrecourse to Other Members Except as provided by law or as expressly provided in this Operating Agreement, upon dissolution, each Member shall look solely to the assets of the Company for the return of its Capital Contribution. If the Company property remaining after the payment or discharge of the debts and liabilities of the Company is insufficient to return the cash contribution of one or more Members, such Member or Members shall have no recourse against any other Member.

  • EFFECT ON FUND ACCOUNTING AGREEMENT In the event of any inconsistency between the terms of this Amendment and the Fund Accounting Agreement, the terms of this Amendment shall be controlling. Except as specifically and only to the extent modified by this Amendment, all of the terms and provisions of the Fund Accounting Agreement shall continue to remain in full force and effect.

  • Allocation of Nonrecourse Debt For purposes of Regulations Section 1.752-3(a), the Partners agree that Nonrecourse Liabilities of the Partnership in excess of the sum of (i) the amount of Partnership Minimum Gain and (ii) the total amount of Nonrecourse Built-in Gain shall be allocated among the Partners in accordance with their respective Partnership Interests.

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