Tracking Account Sample Clauses

A Tracking Account clause establishes a separate account or ledger to monitor specific financial transactions or obligations related to a contract. In practice, this account is used to record and track payments, receipts, or adjustments that are distinct from the parties' general accounts, such as escrowed funds, project-specific revenues, or cost recoveries. By isolating these transactions, the clause ensures transparency and accurate accounting, helping to prevent disputes and maintain clear records of the amounts owed or received under the agreement.
Tracking Account. If the Access Charge rate methodology implemented pursuant to Section 7.1.6 results in Access Charge rates for any Participating TO which are different from those in effect prior to the application of Section 7.1.6, an amount equal to the difference between the new rates and the prior rates shall be
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Tracking Account a. The Parties shall record all Changes paid by PREPA according to Section 17.1 (Resource Provider Requirements) in an unfunded tracking account maintained by PREPA (the “Tracking Account”). Resource Provider shall have the right, upon reasonable notice and during business hours, to audit PREPA’s records reflecting the balance in the Tracking Account and to identify and object to any error in such calculations. If the Parties cannot agree on an adjustment to the balance in the Tracking Account within thirty (30) Days of PREPA’s receipt of Resource Provider’s objection, then a Party may refer such matter to dispute resolution by either Party pursuant to Section 21.11 (Dispute Resolution). b. If the Tracking Account has a balance at the end of the twenty-second (22nd) Agreement Year (“Balance”), then PREPA shall have the right to withhold and retain up to fifty percent (50%) of the amounts due in each Billing Period of the remaining Term. The Parties shall subtract the retained amount from the Balance until the Balance equals zero (0). If any portion of the Balance remains outstanding at the expiration of the Term under Section 2.2 (Initial Term), then PREPA shall have the option to extend the Term up to an additional two (2) Agreement Years as necessary to repay the Balance plus Interest by applying such monthly retention as set forth above. If, at the expiration of the initial Term under Section 2.2 (Initial Term), an undisputed deficit exists in the Tracking Account, then PREPA shall pay Resource Provider an amount sufficient to compensate Resource Provider for such deficit within thirty (30) Days after the expiration of the Term. If a Party terminates this Agreement early pursuant to Article 15 (Termination), and an undisputed balance remains in the Tracking Account (the “Termination Balance”), Resource Provider shall repay such Termination Balance plus Interest to PREPA within thirty (30) Days of the Termination Date. Notwithstanding the foregoing, Resource Provider shall have the option to prepay all or any portion of the Balance or the anticipated Termination Balance, if applicable, at any time or from time to time. c. The Parties agree that PREPA shall have the right to an annual audit of payments or credits for Changes as a result of a Post-Agreement Date Tax or a Post-Agreement Date Environmental Cost and to adjust such payments if necessary, as a result of the findings of such audit. Both Parties shall have the right to participate in such audit.
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Tracking Account. A notional account and not a physical deposit account (the “Tracking Account”) will be maintained by the Calculation Agent and used for the purposes set forth below. A positive Tracking Account balance indicates that amounts in the Tracking Account are owed by Party A to Noble. A negative Tracking Account balance indicates that amounts (in absolute value terms) in the Tracking Account are owed by Noble to Party A. Either Party may, in its sole discretion, make payments to the other Party in excess of those required herein for the purpose of adjusting the Tracking Account. Such payments shall, on a dollar-for-dollar basis, decrease (if payment is made by Party A to Noble), or increase (if payment is made by Noble to Party A), the Tracking Account balance immediately upon either Party’s receipt of such payment. The Calculation Agent shall maintain and make all calculations and adjustments relating to the notional value of the Tracking Account balance. If COD occurs more than one month prior to the Effective Date set forth above, then at the request of Party B, Party A shall enter into an amendment to this Confirmation drafted by Party A and otherwise reasonably satisfactory to Party A to change the Effective Date to the first day of the month following the month during which COD occurs with the fixed price for the added Calculation Period(s) to be reflective of market at the time of the amendment, as mutually agreed between the Parties.
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Tracking Account. A notional account and not a physical deposit account (the “Tracking Account”) will be maintained by the Calculation Agent and used for the purposes set forth below. A positive Tracking Account balance indicates that amounts in the Tracking Account are owed by CSEL to Noble. A negative Tracking Account balance indicates that amounts (in absolute value terms) in the Tracking Account are owed by Noble to CSEL. Either Party may, in its sole discretion, make payments to the other Party in excess of those required herein. Such payments shall, on a dollar-for-dollar basis, decrease (if payment is made by CSEL to Noble), or increase (if payment is made by Noble to CSEL), the Tracking Account balance immediately upon either Party’s receipt of such payment. The Calculation Agent shall maintain and make all calculations and adjustments relating to the notional value of the Tracking Account balance.
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Tracking Account. If the Access Charge rate methodology implemented pursuant to Section 7.1.6 results in Access Charge rates for any Participating TO which are different from those in effect prior to the application of Section 7.1.6, an amount equal to the difference between the new rates and the prior rates shall be recorded in a tracking account. The balance of that tracking account will be recovered from customers and paid to the appropriate Participating TO after termination of the cost recovery plan set forth in Section 368 of California Public Utilities Code (as added by AB 1890). The recovery and payments shall be based on an amortization period not exceeding three years in the case of electric corporations regulated by the CPUC or five years for Local Publicly Owned Electric Utilities.
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Tracking Account. (a) A tracking account (the "Tracking Account") shall be maintained by Genco to track, for each Day: (i) the actual amount of Natural Gas required to produce the Net Electrical Output when the Merchant Project is dispatched at or above the Minimum Load and delivered by Genco for that Day and (ii) the amount of Natural Gas required to produce the Net Electrical Output when the Merchant Project is dispatched at or above the Minimum Load and delivered by Genco for that Day based on the Expected Heat Rate. If the actual amount of Natural Gas required to produce the Net Electrical Output for such Day varies from the amount of Natural Gas which would be required to produce such Net Electrical Output based on the Expected Heat Rate (using the Expected Heat Rate value associated with the dispatch level), then a balance shall accrue in the Tracking Account for such Day in the following manner: (i) If the actual amount of Natural Gas required to produce such Net Electrical Output on such Day is greater than the amount which would be required based on the Expected Heat Rate (using the Expected Heat Rate value associated with the dispatch level), then a positive amount equal to the differential Natural Gas (expressed in cubic meters and adjusted for the Reference Conditions), multiplied by the Delivered Cost of Natural Gas, for such Day, shall accrue to the Tracking Account for such Day. (ii) If the actual amount of Natural Gas required to produce such Net Electrical Output on such Day is less than the amount which would be required based on the Expected Heat Rate (using the Expected Heat Rate value associated with the dispatch level), then a negative amount equal to the differential Natural Gas (expressed in cubic meters and adjusted for the Reference Conditions), multiplied by the Delivered Cost of Natural Gas for such Day, shall accrue to the Tracking Account for such Day. (b) At the end of each Calculation Period, the Tracking Account shall be cleared and (i) if the Tracking Account balance is positive, Genco shall contribute such amount to the Consortium, whereas (ii) if the Tracking Account balance is negative, the Consortium shall distribute such amount to Genco. The Parties hereby agree that any amount contemplated under this Section 13.02(b) shall be set-off against any amounts otherwise distributed in accordance with Article VI. (c) There shall be no tracking account adjustment for the Natural Gas consumed during any compression process, start-up, no load op...
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Tracking Account. (a) Seller shall maintain an account (the "TRACKING ACCOUNT"), as provided in this Section 4.4. As of the Effective Date, the balance of the Tracking Account shall be an amount equal to the sum of (i) four hundred and eight million, seven hundred and fifty-nine thousand, nine hundred and sixteen dollars and seventy-one cents ($408,759,916.71) (which represents the agreed balance of the Tracking Account as of May 31, 2001) and (ii) the net change in the Tracking Account for the period from and including June 1, 2001 and ending on the Effective Date, determined pursuant to Section 4.4 of the Agreement as it existed immediately prior to the Tenth Amendment. Within thirty (30) days after the Effective Date, Seller shall provide Buyer with Seller's calculation of the Effective Date balance of the Tracking Account, together with supporting documentation therefor. If Buyer and Seller are unable to agree on the Effective Date balance of the Tracking Account within twenty (20) days of receipt by Buyer of Seller's calculation, the Effective Date balance of the Tracking Account shall be determined by a nationally recognized independent accounting firm mutually acceptable to the parties, the fees of which shall be shared equally between Buyer and Seller. Seller and Buyer agree that the Effective Date balance of the Tracking Account as finally determined hereunder (the "OUTSTANDING BALANCE") shall be deemed to be a loan by Seller to Buyer in a principal amount equal to the Outstanding Balance (the "TRACKING ACCOUNT LOAN"). Notwithstanding any limitations on recourse in any Project Document to the contrary, but subject to all terms and conditions of subordination (including with respect to the Collateral) set forth in the Intercreditor Agreement, Buyer hereby waives any such limitations on recourse applicable to it with respect to its obligations hereunder, and agrees that it shall be personally liable (on a recourse basis) for the repayment of the Tracking Account Loan and any accrued and unpaid interest thereon pursuant to this Agreement. Repayment of the Tracking Account Loan shall be made in accordance with this Section 4.4. (b) [Reserved]. (c) Interest shall accrue on the unpaid balance of the Tracking Account Loan for the period commencing on the Effective Date until the Tracking Account Loan shall have been paid in full, at the Interest Rate, calculated on the basis of the actual number of Days elapsed divided by 365. From the Effective Date to but excluding June...
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Tracking Account. Except as expressly provided herein, for each Monthly Billing Period commencing on June 1, 2000, Seller or Purchaser, as applicable, shall make to the other Party a payment in an amount equal to the balance of the Tracking Account, as set out in Section 12.1.
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Tracking Account. Promptly following the Effective Date, the Company shall create and maintain a funding tracking account (the “Tracking Account”) for each of the Shareholders. The initial amounts to be recorded in the Tracking Account of each of Invecture and DZHC shall be equal to the Initial Contribution of each Shareholder deemed pursuant to Section 5.1. For greater certainty, the Tracking Accounts are intended to track the actual and deemed capital contributions of the Shareholders for determining each Shareholder’s Proportionate Share and is separate from the capital of the Company for LGSM purposes. In addition to the Initial Contributions, each Shareholder’s Tracking Account shall be credited with any further capital contributions made by such Party as set out in this Section 5.2, including once paid to the Company, the Initial Working Capital (as defined in the Earn-in Right Agreement.
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Related to Tracking Account

  • Checking Accounts 1. Your Checking Account may consist of two legally separate accounts: a transaction (checking) sub account and a savings sub account. If funds in your transaction account are not routinely needed to pay debits, we may periodically transfer funds between these two sub accounts. If your Checking Account earns interest, your interest calculation will remain the same, regardless of whether or not your funds are held in the transaction sub account or the savings sub account. Otherwise, the savings sub account will be a non-interest-earning account. The sub accounts will be subject to our Account Agreement, our Account Disclosure, the Membership Application (or other account documentation). This arrangement and process will not affect your Available Balance in your Checking Account, the interest you may earn, NCUA insurance protection, your monthly statement, or any other features of your Checking Account. 2. We are authorized but not obligated to pay any check or other item that creates a negative balance, any returned item, and all charges associated with negative balances or returned items by making advances under or transfers from any of your Accounts. Unless you tell us otherwise, we may link your Checking Account to any BECU Line of Credit on which you are a borrower. 3. We will process debit and credit transactions throughout the day in the order they are received in our processing center. Therefore, if a transaction debits your Account in the morning and exceeds your Available Balance at that time, you may be charged an NSF Fee or Overdraft Fee, even if a deposit or credit transaction occurring later that day raises your Available Balance above $0.00. We may receive multiple credit or debit transactions on your Accounts in many different forms throughout each day. We generally process and pay presented checks that you write from your Account in order from smallest dollar amount to largest dollar amount; however, we reserve the right to process any presented checks in any order we deem necessary or appropriate. 4. We will credit items delivered to us subject to final settlement and applicable law. 5. We will have no obligation to, but we may, pay antedated checks, or checks that are stale-dated (more than six months old), without notice to you, and we may deem the date on such a check to be the date that the check is presented to us. 6. We may pay postdated checks early unless an authorized party gives contrary notice complying with applicable law. 7. Except for willful misconduct and subject to applicable law, we are not liable for any action taken regarding the payment or nonpayment of an item.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.04: (i) to remit to the Trustee for deposit in the Distribution Account the amounts required to be so remitted pursuant to Section 3.10(b) or permitted to be so remitted pursuant to the first sentence of Section 3.10(d); (ii) subject to Section 3.16(d), to reimburse the Master Servicer for (a) any unreimbursed Advances to the extent of amounts received which represent Late Collections (net of the related Servicing Fees) of Monthly Payments, Liquidation Proceeds and Insurance Proceeds on Mortgage Loans with respect to which such Advances were made in accordance with the provisions of Section 4.04; (b) any unreimbursed Advances with respect to the final liquidation of a Mortgage Loan that are Nonrecoverable Advances, but only to the extent that Late Collections, Liquidation Proceeds and Insurance Proceeds received with respect to such Mortgage Loan are insufficient to reimburse the Master Servicer for such unreimbursed Advances; or (c) subject to Section 4.04(b), any unreimbursed Advances to the extent of funds held in the Collection Account for future distribution that were not included in Available Funds for the preceding Distribution Date; (iii) subject to Section 3.16(d), to pay the Master Servicer or any Sub-Servicer (a) any unpaid Servicing Fees, (b) any unreimbursed Servicing Advances with respect to each Mortgage Loan, but only to the extent of any Late Collections, Liquidation Proceeds, Insurance Proceeds and condemnation proceeds received with respect to such Mortgage Loan, and (c) any Servicing Advances with respect to the final liquidation of a Mortgage Loan that are Nonrecoverable Advances, but only to the extent that Late Collections, Liquidation Proceeds and Insurance Proceeds received with respect to such Mortgage Loan are insufficient to reimburse the Master Servicer or any Sub-Servicer for Servicing Advances; (iv) to pay to the Master Servicer as servicing compensation (in addition to the Servicing Fee) on the Master Servicer Remittance Date any interest or investment income earned on funds deposited in the Collection Account; (v) to pay to the Originator, with respect to each Mortgage Loan that has previously been purchased or replaced pursuant to Section 2.03 or Section 3.16(c) all amounts received thereon subsequent to the date of purchase or substitution, as the case may be; (vi) to reimburse the Master Servicer for any Advance or Servicing Advance previously made which the Master Servicer has determined to be a Nonrecoverable Advance in accordance with the provisions of Section 4.04; (vii) to pay, or to reimburse the Master Servicer for Servicing Advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 3.16(b); (viii) to reimburse the Master Servicer for expenses incurred by or reimbursable to the Master Servicer pursuant to Section 6.03; (ix) to reimburse the NIMS Insurer, the Master Servicer (if the Master Servicer is not an Affiliate of the Originator) or the Trustee, as the case may be, for enforcement expenses reasonably incurred in respect of the breach or defect giving rise to the purchase obligation under Section 2.03 of this Agreement that were included in the Purchase Price of the Mortgage Loan, including any expenses arising out of the enforcement of the purchase obligation;

  • Pre-Funding Account (a) No later than the Closing Date, the Securities Administrator shall establish and maintain a trust account which at all times shall be an Eligible Account and shall be titled “Pre-Funding Account, ▇▇▇▇▇ Fargo Bank, National Association, in trust for the registered holders of Deutsche Alt-A Securities, Mortgage Loan Trust, Series 2006-AR2, Mortgage Pass-Through Certificates” (the “Pre-Funding Account”). The Securities Administrator shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Original Pre-Funded Amount remitted on the Closing Date by the Depositor. Funds deposited in the Pre-Funding Account shall be held in trust for the Certificateholders for the uses and purposes set forth herein. (b) The Securities Administrator will invest funds deposited in the Pre-Funding Account only as directed in writing by the Depositor (and such amounts shall not be invested if no direction is received by Securities Administrator) in Permitted Investments with a maturity date (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Securities Administrator or an Affiliate manages or advises such investment, (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Securities Administrator or an Affiliate manages or advises such investment or (iii) within one (1) Business Day of the Securities Administrator’s receipt thereof. For federal income tax purposes, the Depositor shall be the owner of the Pre-Funding Account and shall report all items of income, deduction, gain or loss arising therefrom. All income and gain realized from investment of funds deposited in the Pre-Funding Account shall be transferred to the Depositor. The Depositor shall deposit in the Pre-Funding Account the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss without any right of reimbursement therefor. At no time will the Pre-Funding Account be an asset of any REMIC created hereunder. (c) Amounts on deposit in the Pre-Funding Account shall be withdrawn by the Securities Administrator as follows: (i) On any Subsequent Transfer Date, the Securities Administrator shall withdraw from the Pre-Funding Account an amount equal to 100% of the Principal Balances of the related Subsequent Loans as of the Subsequent Cut-Off Date, transferred and assigned to the Trustee for deposit in the Trust Fund on such Subsequent Transfer Date and pay such amount to or upon the order of the Depositor upon satisfaction of the conditions set forth in Section 2.6 with respect to such transfer and assignment; (ii) If the amount on deposit in the Pre-Funding Account (exclusive of any investment income therein) has not been reduced to zero during the Pre-Funding Period, on the Distribution Date immediately following the termination of the Pre-Funding Period, the Securities Administrator shall deposit into the Distribution Account any amounts remaining in the Pre-Funding Account (exclusive of any investment income therein) for distribution in accordance with the terms hereof; (iii) To withdraw any amount not required to be deposited in the Pre-Funding Account or deposited therein in error; and (iv) To clear and terminate the Pre-Funding Account upon the earlier to occur of (A) the Distribution Date immediately following the end of the Pre-Funding Period and (B) the termination of this Agreement, with any amounts remaining on deposit therein being paid to the Holders of the Class A Certificates then entitled to distributions in respect of principal. Withdrawals pursuant to clauses (i), (ii) and (iii) shall be treated as contributions of cash to REMIC I on the date of withdrawal.

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.