Review of Shared Revenue Sample Clauses

Review of Shared Revenue. With prior written notice of not less than thirty (30) days, City and LACMTA each has the right but not the obligation to review the Shared Revenue received and the Net Revenue paid to LACMTA and the use of the City’s portion of the Shared Revenues, as applicable, at LACMTA’s or City’s office, on normal workdays between 9:00 a.m. and 4:00 p.m. once every two years. Should the ability to review the Shared Revenue or use of the Shared Revenues be restricted from occurring in person at either LACMTA’s or the City’s offices due to health, safety, or other local, state of federal orders, each Party shall make all relevant information available to the other Party through virtual/online means. If the statement of Shared Revenue previously provided to City shall be found to be inaccurate, then and in that event, there shall be an adjustment and one Party shall pay to the other on demand such sums as may be necessary to settle in full the accurate amount of the Shared Revenue that should have been paid to City for the period or periods covered by such inaccurate statement or statements. Pursuant to the Fund to be established, the City will draft a report on the Transportation Communications Network Revenue Fund on an annual basis, within 90 days after the close of the City’s fiscal year, that will identify all receipts into, and all transfers and expenditures out of, the fund, as well as the purposes for which the transfers and expenditures were made.
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Related to Review of Shared Revenue

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  • Annual Performance Evaluation On either a fiscal year or calendar year basis, (consistently applied from year to year), the Bank shall conduct an annual evaluation of Executive’s performance. The annual performance evaluation proceedings shall be included in the minutes of the Board meeting that next follows such annual performance review.

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  • Non-allowable Grant Expenditures The Grantee agrees to expend all grant funds received under this agreement solely for the purposes for which they were authorized and appropriated. Expenditures shall be in compliance with the state guidelines for allowable project costs as outlined in the Department of Financial Services’ Reference Guide for State Expenditures, incorporated by reference (dated February 2011), which are available online at xxxxxxxxxxxx.xxx/xxxxx/xxxxxxxxx_xxxxx. In addition, the following are not allowed as grant or matching expenditures:

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