Payments Received for IEAM Accounts Sample Clauses

Payments Received for IEAM Accounts. (a) Annex 9 details certain asset accounts of SQM Salar that have been classified by the Parties as Retained Receivables which, as such, are not considered within Operating Assets for purposes of determining the Working Capital Adjustment as of the Reference Date. Moreover, the collection rights that SQM Salar has, or in the future will have, in the framework of contentious proceedings (whether administrative or judicial) with the Chilean Internal Revenue Service for the application of the specific tax on mining activities with respect to extraction are not considered as part of the Operating Assets for the determination of the Working Capital Adjustment, production and commercialization by SQM Salar of Lithium Products and Other Lithium Products in the fiscal years ended on or before the Reference Date (the "IEAM Collection Rights" and together with the Retained Receivables, the "IEAM Accounts"). (b) With respect to amounts received by SQM Salar (after the Reference Date but prior to the Effective Date of the Joint Venture) or the Operating Company (as of the Effective Date of the Joint Venture) from the IEAM Accounts, the following rules shall apply: (i) With respect to amounts received by SQM Salar between the Reference Date and the Effective Date of the Joint Venture, regardless of whether the amounts received are equal to, greater than or less than the amounts recorded on the balance sheet, such amounts will be distributed in full as extraordinary dividends from SQM Salar to the SQM Party out of retained earnings from prior years or out of the profit associated with the amounts received, or as an interim dividend out of net income for the year. This distribution will not affect in any way the dividends corresponding to the Series A Shares and Series B Shares under the Shareholders' Agreement. (ii) With respect to the amounts received by the Operating Company (c) Moreover, in the Reference Balance Sheet, provisions will be made to meet future collections related to the mining specific tax, which will be considered for the determination of the Working Capital Adjustment (the "IEAM Provisions"). With respect to the IEAM Provisions, if the Internal Revenue Service does not issue drafts for specific mining taxes, or those issued are for amounts lower than the respective IEAM Provisions, then such difference will be treated as any amount received for IEAM Account, and the Operating Company will distribute such balance as dividends to the SQM Party in accord...