Common use of Reimbursements by the TWX Group Clause in Contracts

Reimbursements by the TWX Group. Promptly following the end of each calendar quarter that ends following the Distribution in which the Transferred To Time Employee Bonuses are paid to Transferred To Time Employees or TWX Dividend Equivalents are paid to Post-Separation Time Employees, Salary Continuation Former Employees and Former Time Employees, Time shall provide TWX with one or more invoices that set forth the aggregate Transferred To Time Employee Bonuses Reimbursement Amounts and TWX Dividend Equivalent Reimbursement Amounts incurred by a member of the Time Group during such calendar quarter. Within 20 days following TWX’s receipt of such invoice, TWX shall notify Time in writing if TWX disagrees with any of the amounts set forth on such invoice and the reason for any such disagreement. If TWX does not timely notify Time of any such disagreement, Time’s determination as set forth on such invoice shall be conclusive, final and binding. If TWX timely notifies Time of any such disagreement, a Vice President of each Party shall meet during the 30-day period following TWX’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 each such invoice becomes conclusive, final and binding, a member of the TWX Group shall pay a member of the Time Group an amount in cash equal to the sum of the aggregate amounts set forth on such invoice plus the TWX Benefit Plan Rebate Reimbursement Amount (if any) for such calendar quarter. Furthermore, not later than the last business day of the month following each month in which an amount is withheld by a member of the TWX Group pursuant to Section 15.04 in connection with the exercise of a TWX Option by a Post-Separation Time Employee, Salary Continuation Former Employee or Former Time Employee or the vesting or settlement of a TWX RSU held by a Post-Separation Time Employee, Salary Continuation Former Employee or Former Time Employee, a member of the TWX Group shall pay a member of the Time Group an amount in cash equal to the aggregate TWX Equity Compensation Award Withholding Reimbursement Amount (if any) withheld by members of the TWX Group during such month.

Reimbursements by the TWX Group. Promptly following the end of each calendar quarter that ends following the Distribution in which the Transferred To Time Employee Bonuses are paid to Transferred To Time Employees or TWX Dividend Equivalents are paid to Post-Separation Time Employees, Salary Continuation Former Employees and Former Time Employees, Time shall provide TWX with one or more invoices that set forth the aggregate Transferred To Time Employee Bonuses Reimbursement Amounts and TWX Dividend Equivalent Reimbursement Amounts incurred by a member of the Time Group during such calendar quarter. Within 20 days following TWX’s receipt of such invoice, TWX shall notify Time in writing if TWX disagrees with any of the amounts set forth on such invoice and the reason for any such disagreement. If TWX does not timely notify Time of any such disagreement, Time’s determination as set forth on such invoice shall be conclusive, final and binding. If TWX timely notifies Time of any such disagreement, a Vice President of each Party shall meet during the 30-day period following TWX’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 each such invoice becomes conclusive, final and binding, a member of the TWX Group shall pay a member of the Time Group an amount in cash equal to the sum of the aggregate amounts set forth on such invoice plus the TWX Benefit Plan Rebate Reimbursement Amount (if any) for such calendar quarter. Furthermore, not later than the last business day of the month following each month in which an amount is withheld by a member of the TWX Group pursuant to Section 15.04 in connection with the exercise of a TWX Option by a Post-Separation Time Employee, Salary Continuation Former Employee or Former Time Employee or the vesting or settlement of a TWX RSU held by a Post-Separation Time Employee, Salary Continuation Former Employee or Former Time Employee, a member of the TWX Group shall pay a member of the Time Group an amount in cash equal to the aggregate TWX Equity Compensation Award Withholding Reimbursement Amount (if any) withheld by members of the TWX Group during such month.