Common use of Revenue from Assets Clause in Contracts

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’s contribution to a Project is meant to accrue to the public benefit. Ontario New Brunswick will notify Canada in writing within 90 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) 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 New Brunswick to immediately pay to Canada, via Ontario, Canada 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 British Columbia will notify Canada in writing within 90 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) is used in such a way that, that in the Fiscal Year, revenues are generated from it that exceed its operating expenses. Canada may require the Ultimate Recipient British Columbia to immediately pay to Canada, via Ontario, Canada 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.