Recalculations Clause Samples

The Recalculations clause establishes the process for adjusting previously determined figures, such as payments, fees, or quantities, when new information or errors are discovered. Typically, this clause outlines the circumstances under which recalculations may occur, the method for making adjustments, and the timeline for implementing changes. Its core practical function is to ensure accuracy and fairness in contractual dealings by allowing corrections to be made if initial calculations prove to be incorrect or incomplete.
Recalculations. A member shall report all changes to the State that may affect eligibility and POWER Account contributions, including changes in income or family size, such as a death, divorce, birth or a family member moving out of the household. The State will notify the Contractor if a member's POWER Account contribution changes as a result of the reported change. The Contractor shall begin billing the new POWER Account contribution in the billing cycle immediately following the change.
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Recalculations. If any of the District's metering devices are found to be defective or inaccurate by more than +/- 0.2%, it shall be adjusted, repaired, replaced, and/or re-calibrated to bring the metering device to within the specifications provided for herein. If any of the District's metering devices are not found to be defective or inaccurate by more than the variances stated herein, then such Meters shall not be re-calibrated unless the District determines to do so.
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Recalculations. 2.1.3.1 Property DSCR (and the components thereof) and Property LTV Ratio shall each be recalculated (i) as of each Advance Request, (ii) as of each Affiliate Borrower Advance Request; (iii) as of each Borrower Advance Renewal Request, or deemed renewal under Section 4.3.3, (iv) as of each Affiliate Borrower Advance Renewal for the Sponsor Borrower Loan under Section 4.3.3 of the Affiliate Borrower Credit Agreement, (v) on or about the date of each Valuation performed in accordance with Section 3.4.1, (vi) as of each addition to or release from the Collateral Pool, (vii) as of each repayment of any principal portion of the Borrower Advance, (vii) as of the exercise of the First Extension Option (if applicable), or the Second Extension Option (if applicable), (ix) as of the Expansion Option Date, and (x) upon the occurrence of any Material Adverse Change. Each recalculation of Property Stressed Debt Service and the Property LTV Ratio shall be based on Lender’s then current underwriting policies, consistently applied.
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Recalculations. If after the payment of the Gross-Up Payment the Company exhausts its remedies described in subsections (c) and (d) of this section 6 and the Executive is required to make a payment of Excise Tax in an amount that is greater than the amount that the Accounting Firm assumed the Executive would be required to pay at the time of calculation of the Gross-up Payment, the Accounting Firm will recalculate the Gross-Up Payment. If the recalculated Gross-Up Payment is greater than the amount of Gross-Up Payment paid to the Executive by the Company in accordance with paragraph (b) of this section, the Company will pay the Executive an amount equal to the difference within ten days of receipt of the Accounting Firm’s recalculation.
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Recalculations. The Trust Property Cash Manager will (on behalf of the Mortgages Trustee and the Beneficiaries) recalculate (without double counting) the Issuer Share, the Issuer Share Percentage, the Seller Share, the Seller Share Percentage and the Minimum Seller Share on each Trust Calculation Date and on the date on which the Mortgages Trust terminates (each a Relevant Trust Calculation Date).
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Recalculations. Recalculation of a student’s financial aid package is required under the following circumstances and results in an updated award letter that the student must sign and date.
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Recalculations. From and after the date hereof, the Premises shall be deemed to contain Two Hundred Sixty-two Thousand One Hundred Ninety-five (262,195) square feet of Net Rentable Area with Two Hundred Forty-four Thousand Four Hundred Eight (244,408) square feet of Useable Area subject to verification as provided in the Lease.
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Recalculations. 2.1.3.1 Aggregate Stressed Debt Service and LTV Ratio shall each be recalculated (i) as of each Loan Request, (ii) as of each Renewal Request, or deemed renewal under Section 4.3.3, (iii) on or about the date of each Valuation performed in accordance with Section 3.4.1, (iv) as of each addition or release of a Collateral Pool Property to or from the Collateral Pool, (v) as of each repayment of any principal portion of the Outstanding Borrowing Tranches, (vi) as of the exercise of the First Extension Option (if applicable), or the Second Extension Option (if applicable), (vii) as of the Expansion Option Date, and (viii) upon the occurrence of any Material Adverse Change. Each recalculation of Aggregate Stressed Debt Service and the LTV Ratio shall be based on Lender’s then current underwriting policies, consistently applied. 2.1.3.2 In the event of: (i) an addition of a Mortgaged Property to the Collateral Pool, Lender shall add the Net Operating Income of the Mortgaged Property to be added to the Collateral Pool to the most recent determination of Net Operating income for the existing Collateral Pool; (ii) a release of a Collateral Pool Property from the Collateral Pool, Lender shall subtract the Net Operating Income of the Collateral Pool Property released from the Collateral Pool from the most recent determination of the Net Operating Income for the Collateral Pool; or (iii) a substitution of a Collateral Pool Property in the Collateral Pool, Lender shall (x) add the Net Operating Income of the Mortgaged Property to be added to in the Collateral Pool to the most recent determination of Net Operating Income for the existing Collateral Pool and (y) subtract the Net Operating Income of the Collateral Pool Property released from the Collateral Pool from the most recent determination of Net Operating Income for the Collateral Pool.
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Recalculations. If after the payment of the Gross-Up Payment CPS exhausts its remedies described in paragraphs (d) and (e) of this Section and the Associate is required to make a payment of Excise Tax in an amount that is greater than the amount that the Accounting Firm assumed the Associate would be required to pay at the time of calculation of the Gross-up Payment, the Accounting Firm shall recalculate the Gross-Up Payment. If the recalculated Gross-Up Payment is greater than the amount of Gross-Up Payment paid to the Associate by CPS in accordance with paragraph (b) of this section, CPS shall pay the Associate an amount equal to the difference within ten days of receipt of the Accounting Firm's recalculation.
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Related to Recalculations

  • Calculations; Computations (a) The financial statements to be furnished to the Lenders pursuant hereto shall be made and prepared in accordance with U.S. GAAP consistently applied throughout the periods involved (except as set forth in the notes thereto); provided that to the extent expressly provided herein, certain calculations shall be made on a Pro Forma Basis; provided further, that if Lead Borrower notifies the Administrative Agent that Lead Borrower wishes to amend any leverage calculation or any financial definition used therein to implement the effect of any change in U.S. GAAP or the application thereof occurring after the Closing Date on the operation thereof (or if the Administrative Agent notifies Lead Borrower that the Required Lenders wish to amend any leverage test or any financial definition used therein for such purpose), then Lead Borrower and the Administrative Agent shall negotiate in good faith to amend such leverage test or the definitions used therein (subject to the approval of the Required Lenders) to preserve the original intent thereof in light of such changes in U.S. GAAP; provided, further that all determinations made pursuant to any applicable leverage test or any financial definition used therein shall be determined on the basis of U.S. GAAP as applied and in effect immediately before the relevant change in U.S. GAAP or the application thereof became effective, until such leverage test or such financial definition is amended. Notwithstanding any other provision contained herein, (i) all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to Statement of Financial Accounting Standards 141R or ASC 805 (or any other financial accounting standard having a similar result or effect) and (ii) the accounting for any lease shall be based on Lead Borrower’s treatment thereof in accordance with U.S. GAAP as in effect on the Closing Date and without giving effect to any subsequent changes in U.S. GAAP (or the required implementation of any previously promulgated changes in U.S. GAAP) relating to the treatment of a lease as an operating lease or capitalized lease. (b) The calculation of any financial ratios under this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-down if there is no nearest number).

  • Calculations All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

  • Proration of calculations If less than total program funding is subject to interest calculation procedures, the resulting interest liability calculations shall be prorated to 100% of program funding.

  • Pro Forma Calculations (a) Notwithstanding anything to the contrary herein, financial ratios, tests and covenants, including the Leverage Ratio and the Fixed Charge Coverage Ratio shall be calculated in the manner prescribed by this Section 1.9. (b) For purposes of calculating any financial ratio, covenant or test, Specified Transactions (with any incurrence or repayment (excluding voluntary repayments) of any Debt in connection therewith to be subject to Section 1.9(c)) that have been made (i) during the applicable measurement period and (ii) subsequent to such period and prior to or simultaneously with the event for which the calculation of any such ratio is made shall be calculated on a pro forma basis assuming that all such Specified Transactions (and any increase or decrease in EBITDA and the component financial definitions used therein attributable to any Specified Transaction) had occurred on the first day of the applicable measurement period. If, since the beginning of any applicable period any Person that subsequently became a Subsidiary or was merged, amalgamated or consolidated with or into Borrower or any of its Subsidiaries since the beginning of such period shall have made any Specified Transaction that would have required adjustment pursuant to this Section 1.9, then such financial ratio or test shall be calculated to give pro forma effect thereto in accordance with this Section 1.9. (c) In the event that Borrower or any Subsidiary incurs (including by assumption or guarantees) or repays (including by redemption, repayment (other than voluntary repayments), retirement or extinguishment) any Debt included in the calculations of any financial ratio, covenant or test (in each case, other than Debt incurred or repaid under any revolving credit facility), (i) during the applicable period or (ii) subsequent to the end of the applicable period and prior to or simultaneously with the event for which the calculation of any such ratio is made, then such financial ratio or test shall be calculated giving pro forma effect to such incurrence or repayment of Debt, to the extent required, as if the same had occurred on the last day of the applicable period.

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.