Examples of Annual Settlement Statement in a sentence
Such review will be performed within 90 days of receipt of the Annual Settlement Statement.
The County or the Company, as appropriate, shall pay all known and undisputed amounts within sixty (60) days after receipt or delivery of the Annual Settlement Statement.
When the dispute is resolved or the amount otherwise finally determined, the Company shall file with the County an amended Annual Settlement Statement which shall, in all other respects, be subject to this Section.
If any amount is then in dispute or is for other reasons not definitely known at the time the Annual Settlement Statement is due, the Annual Settlement Statement shall identify the subject matter and reasons for such dispute or uncertainty and, in cases of uncertainty, shall include a good faith estimate by the Company of the amount in question.
The Annual Settlement Statement shall also include an accounting of any incentives or disincentives accrued during the applicable Contract Year along with appropriate supporting documentation.
The parties shall establish prior to the Closing Date the format and types of such additional information and data concerning the T&D System and the performance of the Manager's obligations under this Agreement that shall be provided by the Manager with the Annual Settlement Statement after the end of each Contract Year.
Such information shall include, without limitation, data sufficient to allow the Authority to verify the amounts set forth in the Annual Settlement Statement, information concerning the performance of the Manager with its maintenance and Construction Work responsibilities, any fines or penalties incurrent to a Governmental Body, and known violations of Applicable Law and such other matters to enable the Authority to oversee the Manager's compliance with the terms of this Agreement.
The Manager shall furnish the Authority and the Consulting Engineer, with the Annual Settlement Statement, an annual summary of the statistical data provided in the monthly reports, certified by the Manager and the Manager's independent public accountants, as well as all other data required to be furnished to the Authority pursuant to Appendix 9 hereto.
If any amount is then in dispute, the Annual Settlement Statement shall set forth the Company’s estimate of such amount and a final reconciliation of such amount shall be made in the Billing Statement for the Billing Period immediately following the resolution of such dispute.
For cost overruns in excess of this amount, the Manager shall be entitled to a payment through the Annual Settlement Statement equal to the amount of such excess overruns (the "Overrun Payment").