Common use of Reimbursements by the Time Group Clause in Contracts

Reimbursements by the Time Group. Promptly following the end of each calendar quarter that ends following the Distribution, TWX shall provide Time with one or more invoices that set forth the aggregate (a) Transferred To TWX Employee Bonuses Reimbursement Amounts, (b) Schedule 5.02 Severance Amounts (as applicable in accordance with Section 5.02), (c) U.S. Workers’ Compensation Reimbursement Amounts, (d) TWX Services Reimbursement Amounts, (e) TWX Equity Reimbursement Amounts and (f) TWX Benefit Plan Costs Reimbursement Amounts incurred by a member of the TWX Group during such calendar quarter. Within 20 days following Time’s receipt of such invoice, Time shall notify TWX in writing if Time disagrees with any of the amounts set forth on such invoice and the reason for any such disagreement. If Time does not timely notify TWX of any such disagreement, TWX’s determination as set forth on such invoice shall be conclusive, final and binding. If Time timely notifies TWX of any such disagreement, a Vice President of each Party shall meet during the 30-day period following Time’s notification of disagreement and shall negotiate in good faith to resolve the dispute during such period, and the resolution of such disagreement reached by such Vice Presidents shall be conclusive, final and binding. Within 60 days following the date such invoice becomes conclusive, final and binding, Time shall pay TWX an amount in cash equal to the aggregate amounts set forth on such invoice.

Reimbursements by the Time Group. Promptly following the end of each calendar quarter that ends following the Distribution, TWX shall provide Time with one or more invoices that set forth the aggregate (a) Transferred To TWX Employee Bonuses Reimbursement Amounts, (b) Schedule 5.02 Severance Amounts (as applicable in accordance with Section 5.02), (c) U.S. Workers’ Compensation Reimbursement Amounts, (db) TWX Services Reimbursement Amounts, (ec) TWX Equity Reimbursement Amounts and (fd) TWX Benefit Plan Costs Reimbursement Amounts incurred by a member of the TWX Group during such calendar quarter. Within 20 days following Time’s receipt of such invoice, Time shall notify TWX in writing if Time disagrees with any of the amounts set forth on such invoice and the reason for any such disagreement. If Time does not timely notify TWX of any such disagreement, TWX’s determination as set forth on such invoice shall be conclusive, final and binding. If Time timely notifies TWX of any such disagreement, a Vice President of each Party shall meet during the 30-day period following Time’s notification of disagreement and shall negotiate in good faith to resolve the dispute during such period, and the resolution of such disagreement reached by such Vice Presidents shall be conclusive, final and binding. Within 60 days following the date such invoice becomes conclusive, final and binding, Time shall pay TWX an amount in cash equal to the aggregate amounts set forth on such invoice.

Reimbursements by the Time Group. Promptly following the end of each calendar quarter that ends following the Distribution, TWX shall provide Time with one or more invoices that set forth the aggregate (a) Transferred To TWX Employee Bonuses Reimbursement Amounts, (b) Schedule 5.02 Severance Amounts (as applicable in accordance with Section 5.02), (cb) U.S. Workers’ Compensation Reimbursement Amounts, (dc) TWX Services Reimbursement Amounts, (ed) TWX Equity Reimbursement Amounts and (fe) TWX Benefit Plan Costs Reimbursement Amounts incurred by a member of the TWX Group during such calendar quarter. Within 20 days following Time’s receipt of such invoice, Time shall notify TWX in writing if Time disagrees with any of the amounts set forth on such invoice and the reason for any such disagreement. If Time does not timely notify TWX of any such disagreement, TWX’s determination as set forth on such invoice shall be conclusive, final and binding. If Time timely notifies TWX of any such disagreement, a Vice President of each Party shall meet during the 30-day period following Time’s notification of disagreement and shall negotiate in good faith to resolve the dispute during such period, and the resolution of such disagreement reached by such Vice Presidents shall be conclusive, final and binding. Within 60 days following the date such invoice becomes conclusive, final and binding, Time shall pay TWX an amount in cash equal to the aggregate amounts set forth on such invoice.