Settlement Accounting Clause Samples
The Settlement Accounting clause defines the procedures and responsibilities for reconciling and finalizing financial transactions between parties after a particular event or period. Typically, it outlines how payments, adjustments, or reimbursements are calculated, the documentation required, and the timeline for completing the settlement process. This clause ensures that all parties have a clear and agreed-upon method for closing out financial obligations, thereby reducing the risk of disputes and promoting transparency in financial dealings.
Settlement Accounting. As of the Signing Date, to the Company’s Knowledge there are no circumstances existing or that would reasonably be expected to occur that would be likely to cause the Company to conclude that the Company may not account for the Transactions and the transactions contemplated by the Ancillary Agreements as a settlement under ASC 715.
Settlement Accounting. As of the DTFA Execution Date, to the Company's Knowledge there are no circumstances existing or that would reasonably be expected to occur that would be reasonably likely to cause the Company to conclude that the Company may not account for the transactions contemplated by this Agreement and the Ancillary Agreements as a settlement under ASC 715.
Settlement Accounting. Within one hundred twenty (120) days after the end of the entire term of the Agreement, Florida Blue shall prepare and furnish to the Group a Settlement Accounting of their operations of the term. This Settlement Accounting shall include operations under all coverages of the Agreement and shall set forth the following:
(a) Earned Premium
(b) Incurred Claims less claims in excess of the pooling point
(c) Capitation Charges, if applicable
(d) Pooling Charges (not included in administrative charges)
(e) Administrative Charges as set forth on Exhibit A If Earned Premium is greater than the sum of Incurred Claims less claims in excess of the pooling point, Capitation Charges, Pooling Charges and Administrative Charges, 50% of this excess will be returned to the Group. The accounting is an aggregation of the contract periods encompassed in the term of the Agreement. If the Group cancels prior to January 1, 2016, any such excess will not be available for return to the Group. If Earned Premium is less than the sum of Incurred Claims less claims in excess of the pooling point, Capitation Charges, Pooling Charges and Administrative Charges, the deficit will be retained by Florida Blue.
Settlement Accounting. On or before the Effective Date, the Administrator shall provide the Parties with an accounting of all anticipated payments from the Settlement Fund Account as specified in this Agreement and approved by the Court, including: (a) Plaintiffs’ Class Representative Service Payments; (b) the Class Counsel Fees; (c) the Class Counsel Litigation Costs; (d) the Administration Expenses; (e) the LWDA PAGA Payment; (f) the Individual PAGA Payments; (g) the Individual Class Payments; and (h) the employer’s share of payroll taxes on the Wage Portions of the Individual Class Payments.
Settlement Accounting. Within one hundred twenty (120) days after the end of the entire term of the Agreement, Florida Blue shall prepare and furnish to the Group a Settlement Accounting of their operations of the term. This Settlement Accounting shall include operations under all coverages of the Agreement and shall set forth the following:
(a) Earned Premium
(b) Incurred Claims less claims in excess of the pooling point
(c) Capitation Charges, if applicable
(d) Pooling Charges (not included in administrative charges) (e) Administrative Charges as set forth on Exhibit A If Earned Premium is greater than the sum of Incurred Claims less claims in excess of the pooling point, Capitation Charges, Pooling Charges and Administrative Charges, 50% of this excess will be returned to the Group. If Earned Premium is less than the sum of Incurred Claims less claims in excess of the pooling point, Capitation Charges, Pooling Charges and Administrative Charges, the deficit will be retained by Florida Blue. The accounting is an aggregation of the contract periods encompassed in the term of the Agreement. If the Group cancels prior to the settlement accounting, any such excess will not be available for return to the Group. For purposes of this agreement, the initial contract period is from October 1, 2016, through December 31, 2017 a fifteen month period. The second contract period is from January 1, 2018, through December 31, 2018 -- a twelve month period.
Settlement Accounting. No more than fourteen (14) days after the Effective 15 Date, or at a reasonable time thereafter if not reasonably practicable, the Settlement Administrator 16 will provide the Parties with an accounting of all anticipated payments from the Qualified 17 Settlement Account, including: (a) Class Member Payments, (b) the PAGA Payments; (c) the 18 Named Plaintiff Enhancement Payments; (d) the Fees Award and Costs Award to Class Counsel, 19 and (f) Settlement Administration Expenses, all as specified in this Settlement Agreement and 20 approved by the Court.