EXPIRATION OF THE TRANSIT ALLIANCE COMPANIES’ OPERATING AUTHORITY Sample Clauses

EXPIRATION OF THE TRANSIT ALLIANCE COMPANIES’ OPERATING AUTHORITY. 8.1 The City will promptly pay those ongoing operating expenses generally referred to as “break-even” payments for any period of time after the Applicable Transition Date, within 30 days of the Transit Alliance Companies’ submission of reasonable and customary documentation of such expenses (i.e., the level and type of documentation that is consistent with what is currently required or customarily provided and accepted under the operating assistance arrangements between the Parties). In addition, the City will promptly pay, within 30 days of the Transit Alliance Companies’ submission of reasonable documentation, (i) post-termination expenses in accordance with current City procedures, including without limitation retroactive worker’s compensation adjustments, insurance premiums and cancellation payments, if any; and (ii) operating expenses incurred or paid by the Transit Alliance Companies after the Closing which are reimbursable in accordance with current City procedures that the Transit Alliance Companies learns about or incurs upon or after the Closing, and which the City acknowledges and agrees shall include without limitation final taxes, preparation of final payroll records and financial statements, post-termination expenses related to health coverage, or any COBRA related expenses for those who do not obtain such coverage from MTA Bus Company benefit plans, and such other expenses related to the wind-down of the Transit Alliance Companies’ business as the Parties may agree.