Reconciliation and adjustment Sample Clauses

Reconciliation and adjustment. (a) This clause 7.13 applies if, after the Outturn of all Bulk Wheat of a Service Year from all Viterra Facilities, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. (b) If the actual tonnage Outturned to the Client exceeds the Client’s Outturn Entitlement, the Client must pay to Viterra the Excess Outturn Entitlement Amount within 15 days of receiving an invoice for that amount from Viterra. (c) If the actual tonnage Outturned to the Client is less than the Client’s Outturn Entitlement, Viterra may, at its discretion, either: (i) replace the physical Bulk Wheat shortfall in the Client’s Outturn Entitlement; or (ii) pay to the Client the Shortfall Outturn Entitlement Amount. (d) If the actual tonnage to be Outturned to the Client is less than one tonne of a particular Grade of Grain at any Viterra Facility, Viterra may, at its discretion: (i) write off the Client’s Outturn Entitlement; and (ii) not pay to the Client the Shortfall Outturn Entitlement Amount. Viterra does not require the Client’s consent to write off the Client’s Outturn Entitlement under this clause 7.13(d).
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs
Reconciliation and adjustment. (a) This clause 7.13 applies if, after the Outturn of all Bulk Wheat of a Season from all Company Facilities, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. (b) For all Bulk Wheat, unless otherwise agreed, a Season average price will be calculated based on weighted Season average cash prices posted by the Client and all Other Clients over harvest at all Company Facilities. If cash prices are not posted at particular Company Facilities, or are posted with such irregularity that they do not represent the market price (in the opinion of the Company in its sole discretion), then the Company will use the weighted average (major grade and average freight) estimated silo return (ESR) of three pool providers for the Season of delivery as its financial washout value. (c) If the actual tonnage Outturned to the Client exceeds the Client’s Outturn Entitlement, the Client must pay the Company for the excess at the average price calculated under clause 7.13(b) (Washout Price). (d) If the actual tonnage Outturned to the Client is less than the Client’s Outturn Entitlement, the Company may, at its discretion, either replace the physical Bulk Wheat shortfall in the Client’s Outturn Entitlement, or pay the Client for the deficiency in the Outturn Entitlement at the Washout Price.
Sample 1Sample 2
Reconciliation and adjustment. (a) This clause 7.13 applies if, after the Outturn of all Grain of a Service Year from all Viterra Facilities, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. (b) If the actual tonnage Outturned to the Client exceeds the Client’s Outturn Entitlement, the Client must pay to Viterra the Excess Outturn Entitlement Amount within 15 days of receiving an invoice for that amount from Viterra. (c) If the actual tonnage Outturned to the Client is less than the Client’s Outturn Entitlement, Viterra may, at its discretion, either: (i) replace the physical Grain shortfall in the Client’s Outturn Entitlement; or (ii) pay to the Client the Shortfall Outturn Entitlement Amount.
Sample 1
Reconciliation and adjustment. (a) This clause 7.15 applies if, after the Outturn of all Grain of a Season from all Company Facilities, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. (b) For all Grain, unless otherwise agreed, a Fair Market Value will be calculated. (c) If the actual tonnage Outturned to the Client exceeds the Client’s Outturn Entitlement, the Client must pay the Company for the excess at Fair Market Value. (d) If the actual tonnage Outturned to the Client is less than the Client’s Outturn Entitlement, the Company may, at its discretion, either replace the physical Grain shortfall in the Client’s Outturn Entitlement, or pay the Client for the deficiency in the Outturn Entitlement at Fair Market Value.
Sample 1Sample 2
Reconciliation and adjustment. (a) This clause 7.13 applies if, after the Outturn of all Bulk Wheat of a Season from all Company Facilities, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. (b) For all Bulk Wheat, unless otherwise agreed, a Season average price will be calculated based on weighted Season average cash prices posted by the Client and all Other Clients over harvest at all Company Facilities. If cash prices are not posted at particular Company Facilities, or are posted with such irregularity that they do not represent the market price (in the opinion of the Company in its sole discretion), then the Company will use the weighted average (major grade and average freight) estimated silo return (ESR) of three pool providers for the Season of delivery as its financial washout value.
Sample 1Sample 2
Reconciliation and adjustment. (a) This clause applies if, after the Outturn of all Grain of a Season from all Company Facilities, there is a difference between the Client's Outturn Entitlement and the tonnage actually Outturned to the Client. (b) For all Grain, unless otherwise agreed, a Season average price will be calculated based on weighted Season average cash prices posted at Port Adelaide as reported by Profarmer. If cash prices are not posted, or are posted with such irregularity that they do not represent the market price (in the opinion of the Company in its sole discretion), then the Company will use the weighted average (major grade and average freight) estimated silo return (ESR) of three pool providers for the Season of delivery as its financial washout value. (c) If the actual tonnage Outturned to the Client exceeds the Client’s Outturn Entitlement, the Client must either pay the Company for the excess at the average price calculated under clause (b) (Washout Price) or replace the shortfall by using other grades as negotiated and agreed with the Company.
Sample 1
Reconciliation and adjustment. After the close of Manager’s accounting records for each calendar month, Manager shall determine the Manager Fee for such month in accordance with Clause 5.2 and shall make a final determination of the Owner Proceeds. If (a) the Pre-Adjustment Owner Proceeds less the Estimated Manager Fee distributed for such calendar month pursuant to Clause 5.3 exceed (b) the Owner Proceeds less the Manager Fee as such amounts are finally determined for such month, then Manager shall remit the difference to the Owner Bank Account. If (a) the Pre-Adjustment Owner Proceeds less the Estimated Manager Fee distributed for such calendar month pursuant to Clause 5.3 is less than (b) the Owner Proceeds less the Manager Fee as such amounts are finally determined for such month, then Manager shall deduct such amount from the next payments to be made to LAPCO under Clause 5.3 hereof. Payments to be made under this Clause 5.4 shall be made by Manager within ten (10) days after the close of Manager’s accounting records for each calendar month.
Sample 1
AutoNDA by SimpleDocs

Related to Reconciliation and adjustment

  • Reconciliation In the event that the Corporate Taxpayer and a Member are unable to resolve a disagreement with respect to the matters governed by Sections 2.03, 3.01(b), 4.02 and 6.02 within the relevant period designated in this Agreement (“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable to both parties. The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and such Member agree otherwise, the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or such Member or other actual or potential conflict of interest. If the parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Exchange Basis Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within thirty (30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen (15) calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporate Taxpayer, subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer, except as provided in the next sentence. The Corporate Taxpayer and such Member shall bear their own costs and expenses of such proceeding, unless (i) the Expert substantially adopts such Member’s position, in which case the Corporate Taxpayer shall reimburse such Member for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii) the Expert substantially adopts the Corporate Taxpayer’s position, in which case such Member shall reimburse the Corporate Taxpayer for any reasonable out-of-pocket costs and expenses in such proceeding. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.09 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.09 shall be binding on the Corporate Taxpayer and such Member and may be entered and enforced in any court having jurisdiction.

  • Estimates and Reconciliation of Estimates Where estimated expenditures are used to determine the amount of the drawdown, the State will indicate in the terms of the State unique funding technique how the estimated amount is determined and when and how the State will reconcile the difference between the estimate and the State's actual expenditures.

  • Reconciliations On a daily basis, Subadviser shall review reports of the Account's portfolio holdings as provided to Subadviser by the Custodian and shall report as promptly as possible on the same business day to the Custodian and to Client any discrepancies between the prices assigned to the securities in the Account and the prices that Subadviser believes should be assigned to them. On an ongoing basis, Subadviser shall monitor market developments for significant events occurring after the close of the primary markets for particular securities held by the Account that may materially affect their value, and shall promptly notify Client of any such event that comes to Subadviser's attention. On a monthly basis, Subadviser shall reconcile security and cash positions, and market values to the Custodian's records and report discrepancies to Client within ten (10) business days after the end of the month, or within three (3) business days of receipt of the custodial statement, whichever comes later.

  • Annual Reconciliation At the end of each calendar year or as soon thereafter as practicable Landlord shall deliver to Tenant a statement (“Annual Reconciliation”) of (a) the actual annual Operating Expenses and Tenant’s Percentage of Operating Expenses for the preceding year, and (b) the actual annual Real Property Taxes and Tenant’s Percentage of Real Property Taxes for the preceding year. If for any year, the sum of Tenant’s Percentage of Operating Expenses and Tenant’s Percentage of Real Property Taxes (as specified in the Annual Reconciliation) is less than the total amount of the estimated payments made by Tenant under Section 6.3.1 above for such year, then any such overpayment, or overpayments, shall be credited toward the monthly Rent next falling due after determination by Landlord of such overpayment or overpayments and shall be paid to Tenant in a lump sum for periods after the expiration of the Term. Similarly, if for any year, the sum of Tenant’s Percentage of Operating Expenses and Tenant’s Percentage of Real Property Taxes (as specified in the Annual Reconciliation) is more than the total amount of the estimated payments made by Tenant under Section 6.3.1 above for such year, then any such underpayment, or underpayments, shall be paid by Tenant to Landlord concurrently with the next regular monthly Basic Rent payment coming due after Tenant’s receipt of the Annual Reconciliation (or if the Term shall have expired or terminated, within thirty (30) days following Tenant’s receipt of such Annual Reconciliation).

  • On Reconciliation and Settlement If the year-end reconciliation and settlement process demonstrates that the HSP received Funding in excess of its confirmed funds, the LHIN will require the repayment of the excess Funding.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!