PAYMENT SCHEDULE ADJUSTMENTS Sample Clauses
The Payment Schedule Adjustments clause defines how and when the payment dates or amounts under a contract may be modified. Typically, this clause outlines circumstances such as project delays, changes in scope, or unforeseen events that could necessitate altering the original payment timeline or amounts due. For example, if a project milestone is postponed, the payment associated with that milestone may also be rescheduled. The core function of this clause is to provide flexibility and clarity in managing payments, ensuring that both parties understand how adjustments will be handled if the original schedule cannot be met.
PAYMENT SCHEDULE ADJUSTMENTS. 1. Subject to section 4 the payment schedule for the period:
(a) from October 1, 2003 to March 31, 2004, is 8.3% greater than the aggregate annualized payment on the basis of the base payment schedule;
(b) from April 1, 2004 to March 31, 2005 is 6.0% greater than the amount referred to in clause (a);
(c) from April 1, 2005 is 6.0% greater than the amount referred to in clause (b).
2. During the term of Part I, the minister will make funds available as required to make payments under the payment schedule that is established in accordance with this agreement.
PAYMENT SCHEDULE ADJUSTMENTS. The Contractor shall submit to the County a certified comparative operating cost statement prepared in accordance with general accepted accounting standards for each residential and commercial operation within each Service Area. Therefore, if a Contractor has two (2) Service Areas, four (4) separate Statements of Income and Expense will need to be submitted; two (2) residential and two (2) commercial.
PAYMENT SCHEDULE ADJUSTMENTS. The Contractor shall submit to the County a certified comparative operating cost statement prepared in accordance with general accepted accounting standards for each residential and commercial operation within each Service Area. Therefore, if a Contractor has two (2) Service Areas, four (4) separate Statements of Income and Expense will need to be submitted; two (2) residential and two (2) commercial. Information provided by the Contractor will be sufficiently detailed as determined by the Contract Administrator. For example, Revenues shall be indicated by type, such as, "Commercial Collection", "Residential Collection", "Disposal Income", etc. Similarly, Operating Expenses shall also be indicated with sufficient detail, such as, "Fees paid for MSW disposal", "Fees paid for Vegetative Waste disposal", etc. The Contractor shall submit a template for the Annual Financial Report's format to the Contract Administrator each year prior to beginning its internal review. The Contractor shall disclose all methods of allocations used to distribute costs between Service Areas and/or commercial and residential operations. The disclosure shall be in narrative form and include the basis for the allocation method. The Contractor shall provide a description of the expenses classified as Other Operating Expense and Other General and Administration. The Contractor shall submit to the County any adjustments made during the annual audit that have an effect upon the previously submitted monthly revenue statements for the twelve (12) months of the Fiscal Year being audited. Any allocations made will need to be disclosed in a narrative format, along with the basis for those allocations. Additionally, it is understood that each Contractor shall utilize the accrual basis of accounting for income and expenses. And although the County reserves the right to audit or review the information supplied, the Contractor is not required to provide an audit of the accompanying information. Attached is the required format for financial statement reporting in accordance with this franchise Agreement. Revenues: (List by type) $ Advance Disposal Fees Total Revenue $ $ Operating Expenses: Depreciation - Vehicles $ Disposal fees paid to the County Franchise Fees paid to the County Advance Disposal Fees paid to the city Fuel and Oil Labor and Fringe Benefits Other Operating Truck Maintenance - Labor Truck Maintenance - Parts Other (explain) Total Operating Expenses $ $ $ $ $ $ $ $ $ $ Salaries and W...
PAYMENT SCHEDULE ADJUSTMENTS. In no case may a Party's payment schedule outlined in this section be adjusted upward from the original payment schedule as a result of a refinancing or advance refunding.