Annual settlement definition
Annual settlement means the settlement of accounts between the Company and FCIC for the reinsurance year, beginning with the October monthly transaction cutoff date following the end of the subsequent reinsurance year and continuing monthly thereafter, as necessary.
Annual settlement means the process of issuing an Annual Settlement Statement.
Annual settlement. For each calendar year, Landlord will deliver to Tenant a statement of amounts payable under Clause 7.1. Such statement will be final and binding upon Tenant unless Tenant objects in writing to Landlord within thirty (30) days after the statement is given to Tenant, provided Tenant is not in default. If such statement shows an amount owing by Tenant that is less than the estimated payments previously made by Tenant for such calendar year, the excess will be refunded by Landlord. If such statement shows an amount owing by Tenant that is more than the estimated payments previously made by Tenant for such calendar year, Tenant will pay the deficiency to Landlord within thirty (30) days after the delivery of such statement.
Examples of Annual settlement in a sentence
Annual settlement payments shall be treated as a purchase price adjustment to all grain sold and purchased pursuant to Section 2.3 of this Agreement.
More Definitions of Annual settlement
Annual settlement specified in this Agreement refers to the settlement process carried out annually based a one-year unit of the period of Agreement. “Carry-over” specified in this Agreement refers to the expense to be carried over inevitably from one specific year to the next with an approval of a Dedicated Organization among the entire budget.
Annual settlement means the calculations made by the DEA after a given calendar year of operation in accordance with Appendix 5, Subsidy and economy scheme in order to ascertain whether the Operator shall repay subsidy.