STRUCTURE OF THE FINANCIAL FLOWS Sample Clauses

STRUCTURE OF THE FINANCIAL FLOWS. Philosophy DBAG and SIX are intended to benefit in future from the fact that Saturday will be able to achieve an improved cost structure as a result of economies of scale. Determination of a portion of imputed costs (1st step) A pool of imputed costs will be calculated in respect of the transferred revenues (relating to the indices) of DBAG and SIX. This calculation will be based on Saturday’s current EBITDA margin for each current year. Saturday’s EBITDA margin will be calculated on the basis of the single-entity financial statement including internal revenues generated with group companies of DBAG and SIX. The extent to which DBAG and SIX will subsequently pass on these imputed costs to Saturday will vary, since DBAG will enter into SLAs with Saturday in respect of the calculation and sale of its indices (and Saturday will enter into an SLA with MONDAY in respect of the calculation of DBAG’s indices), and SIX, as regards the sale of its indices, will enter into an agreement with MONDAY and, as regards the calculation thereof, into a direct SLA with MONDAY. • DBAG will pass on the entire imputed costs to Saturday (or Saturday will charge these entire costs to it as a compensation for sales and calculation services, respectively). • SIX will only pass on to Saturday the [translator’s note: amount] of imputed costs adjusted by the actual costs for the calculation of the indices. Actual settlement of accounts (2nd step) • On the basis of Saturday’s EBITDA margin of the previous year and the notifications of actual revenues by DBAG/SIX of the current year, Saturday will issue invoices for part payments on a quarterly basis. • At the end of the year, final accounts will be issued on the basis of Saturday’s actual EBITDA margin of the previous year.
Sample 1
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Related to STRUCTURE OF THE FINANCIAL FLOWS

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