TRANSITION ACCOUNTING Sample Clauses

TRANSITION ACCOUNTING. Not later than the tenth (10th) day of each month, Seller shall prepare or cause to be prepared a detailed settlement statement of the Properties and Buyer’s share of operating revenues and expenditures detailing the production volumes and revenues, operating costs, capital expenditures, royalties, overriding royalties, severance and ad valorem taxes relating to the prior month’s cash flows and will disburse any receipts, net of expenses, to Buyer within five (5) days from the date of such settlement statement. Each monthly settlement statement will be done on the basis of a production month. For example, on January 10, 2013, Buyer will receive the settlement statement for November 2012 oil and gas sales, and November 2012 operating costs. All remittances to Buyer shall be made by wire transfer to the account of Buyer, Account No.103674551470 at U.S. Bank, N.A., Denver, Colorado, ABA No. 000000000. To the extent disbursements exceed receipts for Buyer’s account resulting in a cash shortfall for the period covered by the settlement statement, Buyer shall reimburse Seller for such cash shortfall within five (5) days from the date of such settlement statement. Upon termination of this Transition Agreement, Seller will disburse any revenues received and will deliver to Buyer any invoices received, in each case within five (5) days from the date of such receipt.
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TRANSITION ACCOUNTING. During the term of this Agreement, Key shall maintain the books and records of WellTech separately from those of Key and all transactions involving WellTech shall be for sole and exclusive account of WellTech. All revenues from WellTech's operations shall inure to the benefit of, and all costs and expenditures related to WellTech's operations shall be borne by, WellTech. To facilitate an orderly operating transition, WellTech will direct its officers and employees to provide to Key the same accounting and computer support functions now used by WellTech for the period requested by Key. Key may, in the exercise of its reasonable business judgment, modify such support functions and WellTech accounting systems, provided, however, that no such modification shall Adversely Affect the maintenance of separate books and records for WellTech or eliminate the ability to maintain accounting functions autonomously by region or area.
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Related to TRANSITION ACCOUNTING

  • Tax Accounting Except for Tax Returns described in paragraph 9 of Part 3 of this Exhibit A, Provider shall prepare, or cause to be prepared, all Tax Returns of the Company in accordance with Sections 7.5 and 7.6 of the LLC Agreement. Part 2: SCOPE OF ADMINISTRATIVE SERVICES

  • Monthly Accountings Silicon shall provide Borrower monthly with an account of advances, charges, expenses and payments made pursuant to this Agreement. Such account shall be deemed correct, accurate and binding on Borrower and an account stated (except for reverses and reapplications of payments made and corrections of errors discovered by Silicon), unless Borrower notifies Silicon in writing to the contrary within thirty days after each account is rendered, describing the nature of any alleged errors or admissions.

  • Fiscal Year; Accounting The Company's fiscal year shall be the calendar year with an ending month of December.

  • Payment Date Accounting The Issuer shall render (or cause to be rendered) an accounting (each a “Distribution Report”), determined as of the close of business on each Determination Date preceding a Payment Date, and shall make available such Distribution Report to the Trustee, the Collateral Manager, the Initial Purchaser, the Rating Agency and any Holder shown on the Register, any Shareholder shown on the Share Register and any beneficial owner of a Security who has delivered a Beneficial Ownership Certificate to the Trustee not later than the Business Day preceding the related Payment Date. The Distribution Report shall contain the following information:

  • Portfolio Accounting Services (1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser.

  • PREMIUM ACCOUNTING The Company will pay the Reinsurer premiums in accordance with the terms specified in Exhibit C. The method and requirements for reporting and remitting premiums are outlined in Exhibit F. The Reinsurer reserves the right to charge interest on overdue premiums. The interest will be calculated according to the terms and conditions specified in Exhibit C.

  • Annual Accounting The Custodian shall, at least annually, provide the Depositor or Beneficiary (in the case of death) with an accounting of such Depositor's account. Such accounting shall be deemed to be accepted by the Depositor or the Beneficiary, if the Depositor or Beneficiary does not object in writing within 60 days after the mailing of such accounting statement.

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