DEFERRED REVENUE. At fiscal year end, any portion of revenue invoiced (not necessarily received) during the fiscal year being closed out that represents charges or prepayment for materials and/or services for the upcoming fiscal year shall be reclassified from a revenue account to a deferred revenue account (liability). In the new fiscal year the deferred revenue shall be reclassified to a revenue account. (EXAMPLE: On June 1, 19X1, a city is invoiced $48,000 which represents charges for the 12-month period June 1, 19X1 to May 31, 19X2. The amount to be reclassified to deferred revenue would be $44,000, representing 11/12ths of the total amount. In July 19X1, the $44,000 would be reclassified to revenue.) Reclassification entries shall be made by Auditor-Controller Agency Accounting units, or for those agencies/departments/districts without such a unit, the agency/department/district shall notify the Auditor-Controller of the amounts to be reclassified.
DEFERRED REVENUE. The Parties agree (i) that for U.S. federal and all applicable state and local income Tax purposes, any Liability that is assumed by Buyer in connection with the Transactions and that is attributable to deferred revenue shall not be treated as giving rise to taxable income of Buyer and (ii) not to take any position on any Tax Return that is inconsistent with the treatment described in clause (i) of this Section 7.03(a).
DEFERRED REVENUE. Dell shall be liable for any increase in the present value of Taxes arising as a result of the acceleration of advance payments defined in Treasury Regulations Section 1.451-8(a) (such advance payments, the “Advance Payments,” and the present value of such Taxes arising as a result of the acceleration of Advance Payments, the “Present Value of Accelerated Taxes”) if the Distribution causes VMware to have a Stub Period immediately following the Distribution of more than ninety-two (92) days. The Present Value of Accelerated Taxes shall be calculated in the following manner: (i) determining the amount of Advance Payments that would have been eligible to be deferred to the first full taxable year after the Stub Period immediately following the Distribution if such Stub Period were ninety-two (92) days or less that are recognized in the Stub Period immediately following the Distribution (the “Accelerated Amount”); (ii) multiplying the Accelerated Amount by an assumed tax rate equal to the highest then-current U.S. federal income tax rate applicable to a corporation tax rate plus 3.5% (the “Assumed Tax Rate”); and (iii) dividing the product of the Accelerated Amount and the Assumed Tax Rate by a discount rate equal to one (1) plus the short-term annual Applicable Federal Rate published by the IRS in effect for the date of the External Distribution. The increase in the Present Value of Accelerated Taxes shall be calculated by subtracting the Present Value of Accelerated Taxes as determined in the prior sentence from the product of the Accelerated Amount and the Assumed Tax Rate as determined in step (ii) in the prior sentence.
DEFERRED REVENUE. None of the Acquired Corporations has any material deferred or unearned income that will be reportable in a taxable period beginning after the Closing that is attributable to a transaction that occurred prior to the Closing.
DEFERRED REVENUE. None of the Parent or its Subsidiaries has any material taxable income that will be reportable in a taxable period beginning after the Closing that is attributable to a transaction that occurred prior to the Closing.
DEFERRED REVENUE. At December 31, 2021, the Company had deferred revenue of $26,477, which represents cash prepayments from customers for future coal sales (2020: $20,831). The movement of the Company’s deferred revenue is as follows: Year ended December 31, 2021 2020 Balance, beginning of year $ 20,831 $ 16,057 Revenue recognized that was included in the deferred revenue balance at beginning of the year (20,911) (15,486) Increase due to trade deposits received, excluding amounts recognized as revenue during the year 26,553 20,913 Exchange realignment 4 (653) Balance, end of year $ 26,477 $ 20,831 The performance obligation related to the revenue from customers for contracts that are unsatisfied (or partially unsatisfied) are expected to be recognized within one year after the reporting date. The Company applies the practical expedient and does not disclose information about any remaining performance obligation that is a part of contract that has original expected duration of one year or less.
DEFERRED REVENUE. Schedule 4.28 sets forth a complete and accurate list by school of the ------------- amounts that represent deferred revenue for each of the Companies and their Subsidiaries as reflected on the balance sheet as of the Balance Sheet Date included in the ASPECT and Pacific Financial Statements. All deferred revenue subsequent to the Balance Sheet Date arose in the ordinary course of business consistent with past practices and was recognized only after the relevant student weeks were performed, and all deferred revenue recorded subsequent to the Balance Sheet Date arose in the ordinary course of business consistent with past practices and represents student weeks for students that have not cancelled their reservations. Section 4.29.
DEFERRED REVENUE. As of Closing, the Deferred Revenue amount is believed to be $107,500.00.
DEFERRED REVENUE. As of Closing, the Deferred Revenue amount is believed to be approximately $190,000 Canadian.
DEFERRED REVENUE. If after the Closing Date Buyer performs services and/or delivers products under a Contract identified in Attachment 5.03(e) with respect to which Sellers have deferred revenue recorded as of the Closing Date, not to exceed the amount set forth in Attachment 5.03(e), Sellers shall pay promptly to Buyer the amount of such deferred revenue recorded with respect to such services and/or products.
