Annual Reconciliation Statement definition
Examples of Annual Reconciliation Statement in a sentence
The Objection Notice must be received by Landlord within ninety (90) days after Tenant receives Landlord’s Annual Reconciliation Statement regarding Bellevue Place Operating Expenses, and set forth with particularity the reason why Tenant disputes Landlord’s calculation or the amount.
To the extent that any Annual Reconciliation Statement indicates that ARCHEMIX expended FTEs in excess of the MERCK Contribution and such excess was not approved by the JSC then, (a) MERCK shall reimburse ARCHEMIX for all amounts in excess of the MERCK Contribution, not to exceed [***] percent ([***]%) of the MERCK Contribution and (b) all FTE Costs in excess of [***] percent ([***]%) of the MERCK Contribution shall be borne by ARCHEMIX.
If ADVERTISING PROVIDER has underpaid CITY, ADVERTISING PROVIDER shall pay the difference to CITY contemporaneously with submission of the Annual Reconciliation Statement.
To the extent that any Annual Reconciliation Statement indicates that ARCHEMIX expended FTEs in excess of the MERCK Contribution and such excess was not approved by the JSC then, (a) MERCK shall reimburse ARCHEMIX for all FTE Costs in excess of the MERCK Contribution equal to or less than [***] percent ([***]%) of the MERCK Contribution and (b) all excess FTE Costs in excess of [***] percent ([***]%) of the MERCK Contribution shall be borne by ARCHEMIX.
If the Annual License Fee owing to CITY in any given year following the Advertising Structures Commencement Date and each anniversary thereof exceeds the MAG paid by ADVERTISING PROVIDER during such year, ADVERTISING PROVIDER shall pay the difference to CITY contemporaneously with the delivery of the Annual Reconciliation Statement.
MERCK shall reimburse ARCHEMIX in full for any FTEs expended by ARCHEMIX in excess of the cumulative FTE Costs owed by MERCK for such Calendar Year (the “MERCK Contribution”) as indicated by any Annual Reconciliation Statement if such excess was approved by the JSC.
For years prior to 2011, any delinquent Annual Reconciliation Statement, DE 7, and Quarterly Wage and Withholding Report, DE 6, forms must be filed.
If the Annual Reconciliation Statement shows that the Concessionaire paid more than the Revenue Sharing Fees and the Concession Fees that were actually due, then the excess amount shall be credited against the Revenue Sharing Fee or Concession Fee that is next payable by the Concessionaire, as the case may be.
Within ninety (90) days of the close of each 12-month period following the Advertising Structures Commencement Date and every 12-month period thereafter (each, an “Agreement Year”), ADVERTISING PROVIDER shall provide CITY with an Annual Reconciliation Statement.
At Landlord’s option, any overpayments of Participation Rent may be either refunded to Tenant, applied to any other amounts then due and unpaid, or applied to Base Rent due at the first opportunity during the new Lease Year after Landlord’s receipt and review of the Annual Reconciliation Statement.