Revenue from Assets. If any Asset is used in such a way that over the course of a year revenues are generated from the Asset that exceed its operating expenses, the Recipient will notify the Province within 30 days of the end of the year where such profit was generated. The Province may require the Recipient to immediately pay to the Province a portion of the excess in the same proportion as the total cost of the Asset. This obligation will only apply during the Asset Disposal Period.
Revenue from Assets. The Parties acknowledge that Canada’s contribution to a Project is meant to accrue to the public benefit. Ontario will notify Canada in writing within 90 business days of the end of a Fiscal Year if any Asset owned by a for-profit Ultimate Recipient as defined in paragraph ii. d) of section A.1 a) (Ultimate Recipients) is used in such a way that, in the Fiscal Year, revenues are generated from it that exceed its operating expenses. Canada may require the Ultimate Recipient to immediately pay to Canada, via Ontario, a portion of the excess in the same proportion as the total cost of the Asset. This obligation will only apply during the Asset Disposal Period.
Revenue from Assets. The Parties acknowledge that Canada and Saskatchewan’s contribution to the Ultimate Recipient’s Project is meant to accrue to the public benefit. The Ultimate Recipient will notify Saskatchewan in writing within ninety (90) business days of the end of a Fiscal Year if any Asset owned by a for-profit Ultimate Recipient as defined in paragraph ii. d) of section A.1 a) (Ultimate Recipients) of the IBA, is used in such a way that in the Fiscal Year revenues are generated from it that exceed its operating expenses. Saskatchewan may require the Ultimate Recipient to immediately pay to Canada, via Saskatchewan, a portion of the excess in the same proportion as the total cost of the Asset to not exceed Canada and Saskatchewan’s contribution to the Project. This obligation will only apply during the Asset Disposal Period, and when it is determined by Saskatchewan that the Project no longer meets the requirement of public benefit.
Revenue from Assets. The Parties acknowledge that Canada’s contribution to a Project is meant to accrue to the public benefit. British Columbia will notify Canada in writing within ninety (90) business days of the end of a Fiscal Year if any Asset owned by a for-profit Ultimate Recipient as defined in paragraph ii.
Revenue from Assets. The Parties acknowledge that their contributions to Projects are meant to accrue to the public benefit. Where Xxxxxx Xxxxxx Island becomes aware, of any asset to which Canada has contributed under this Agreement is used in such a way that, in the Fiscal Year, revenues are generated from it which exceed its operating expenses, it will notify Canada in writing within 90 days of the end of a Fiscal Year and Canada may require Xxxxxx Xxxxxx Island to pay to Canada immediately a portion of the excess, in the same proportion as Canada's contribution is to the total cost of the asset. This obligation will apply only to the first ten (10) complete Fiscal Years following the completion date of the Project. Xxxxxx Xxxxxx Island will require through the Contribution Agreement that the recipient pay Xxxxxx Xxxxxx Island a portion of the excess, in the same proportion as Canada’s and Xxxxxx Xxxxxx Island’s contribution is to the total cost of the asset.
