Common use of Timing exclusions Clause in Contracts

Timing exclusions. Subject to items 5.2(b) and (c), the following cash flows will be excluded from the net cash flows shown in each Interim Adjusted Cashflow Statement: (i) all amounts received during that Month that relate to sales that were invoiced and delivered (even if invoiced at a provisional amount) prior to the Effective Date. The amount of the adjustment will equal the actual cash received, regardless of the amount shown in the Effective Date Balance Sheet; (ii) all amounts paid during that Month that relate to purchases of goods or services that were received prior to the Effective Date. The amount of the adjustment will equal the actual cash paid regardless of the amount shown in the Effective Date Balance Sheet. This adjustment will apply irrespective of whether the purchase related to an operating or capital item; Implementation Agreement (iii) proceeds of any insurance claim in that Month relating to events that occurred prior to the Effective Date; (iv) royalty payments paid and/or received during that Month in relation to ore sales before the Effective Date; and (v) any other items specifically agreed in writing by both Rio Tinto and BHP Billiton to be excluded. If the amount of any cash flow referred to in this item 5.3 relates to more than one Month, then that amount will be allocated pro rata so that the proportion of the amount relating to the relevant Month is included in the Interim Adjusted Cashflow Statement for that Month.

Timing exclusions. Subject to items 5.2(b) and (c), the following cash flows will be excluded from the net cash flows shown in each Interim Adjusted Cashflow Statement: (i) all amounts received during that Month that relate to sales that were invoiced and delivered (even if invoiced at a provisional amount) prior to the Effective Date. The amount of the adjustment will equal the actual cash received, regardless of the amount shown in the Effective Date Balance Sheet; (ii) all amounts paid during that Month that relate to purchases of goods or services that were received prior to the Effective Date. The amount of the adjustment will equal the actual cash paid regardless of the amount shown in the Effective Date Balance Sheet. This adjustment will apply irrespective of whether the purchase related to an operating or capital item; Implementation Agreement; (iii) proceeds of any insurance claim in that Month relating to events that occurred prior to the Effective Date; (iv) royalty payments paid and/or received during that Month in relation to ore sales before the Effective Date; and (v) any other items specifically agreed in writing by both Rio Tinto and BHP Billiton to be excluded. If the amount of any cash flow referred to in this item 5.3 relates to more than one Month, then that amount will be allocated pro rata so that the proportion of the amount relating to the relevant Month is included in the Interim Adjusted Cashflow Statement for that Month.