Accounting Discrepancies Sample Clauses

Accounting Discrepancies. Executive shall be subject to any policy adopted by the Company after the Effective Date which is applicable to senior executives of the Company generally and which requires restitution by such an executive with respect to any payment made or benefit provided to, or on behalf of, such an executive, the calculation of which is based in whole or in part on accounting discrepancies or erroneous financial information.
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Accounting Discrepancies. If any audit or inspection made by or on behalf of City discloses any discrepancy in any statement(s) of Parking Rates Revenues of the Parking Facility and/or in the amount of any sums of money actually deposited in the City designated account(s) or owed, Manager immediately shall pay the sum of money owed to City, plus a service charge of one- half percent (1 ½%) per month of the sum of money owed, or prorated for a portion thereof, from the date the sum should have been paid to City to the date payment is made to City. In addition, if an audit or inspection discloses a single cumulative discrepancy in excess of two percent (2%) of the amount previously paid by Manager to City for the monthly period in question, Manager immediately shall pay to City the cost of the audit and/or inspection. The cost of the audit and/or inspection shall include all reasonable direct and indirect costs incurred by the City, including but not limited to salary and administrative overhead (as determined by the City) costs of City, charges for consultants, materials, equipment, and supplies.
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Accounting Discrepancies. If any audit or inspection made by or on behalf of City discloses any discrepancy in any statement(s) submitted by Manager pursuant to Section 5.6 and/or in the amount of any sums of money actually paid to the City in favor of the City, Manager immediately shall pay the sum of money owed to City, plus interest equal to an amount as set forth in Subsection 5.6(d), from the date the sum should have been paid to City to the date payment is made to City. In addition, if an audit or inspection discloses a cumulative discrepancy in excess of ten percent (10%) of the amount previously paid by Manager to City for the monthly period in question, Manager immediately shall pay to City the cost of the audit and/or inspection. The cost of the audit and/or inspection shall include all reasonable out of pocket costs incurred by City to do the audit and inspection. Payment of the penalty and cost of the audit are, at the option of the City, in addition to other remedies available for defaults in accordance with Subsection 5.6(d).
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Related to Accounting Discrepancies

  • Accounting Decisions All decisions as to accounting principles, except as specifically provided to the contrary herein, shall be made by the General Partner.

  • Accounting Reports (a) By February 20 of each calendar year the General Partner shall provide to the Limited Partner and the Special Limited Partner all tax information necessary for the preparation of their federal and state income tax returns and other tax returns with regard to the jurisdiction(s) in which the Partnership is formed and in which the Project is located.

  • Financial Calculations (a) All financial calculations to be made under, or for the purposes of, this Agreement and any other Transaction Document shall be determined in accordance with the Accounting Principles and, except as otherwise required to conform to any provision of this Agreement, shall be calculated from the then most recently issued quarterly financial statements, prepared on a consolidated basis, which the Borrower is obligated to furnish to IFC under Section 6.03 (a) (Reporting Requirements).

  • Accounting Matters Unless otherwise stated, all accounting terms used in this Agreement shall have the meanings attributable thereto under IFRS and all determinations of an accounting nature required to be made hereunder shall be made in a manner consistent with IFRS.

  • Accounting Terms and Calculations Except as may be expressly provided to the contrary herein, all accounting terms used herein shall be interpreted and all accounting determinations hereunder shall be made in accordance with GAAP. To the extent any change in GAAP affects any computation or determination required to be made pursuant to this Agreement, such computation or determination shall be made as if such change in GAAP had not occurred unless the Borrower and the Bank agree in writing on an adjustment to such computation or determination to account for such change in GAAP.

  • Other Accounting Reports Promptly upon receipt thereof, a copy of each other report or letter submitted to the Borrower or any of its Subsidiaries by independent accountants in connection with any annual, interim or special audit made by them of the books of the Borrower or any such Subsidiary, and a copy of any response by the Borrower or any such Subsidiary, or the Board of Directors of the Borrower or any such Subsidiary, to such letter or report.

  • Accounting Terms; Financial Statements All accounting terms used herein not expressly defined in this Agreement shall have the respective meanings given to them in accordance with sound accounting practice. The term “sound accounting practice” shall mean such accounting practice as, in the opinion of the independent certified public accountants regularly retained by the Company, conforms at the time to GAAP applied on a consistent basis except for changes with which such accountants concur.

  • General Accounting Matters (a) GP-Related Net Income (Loss) shall be determined by the General Partner at the end of each accounting period and shall be allocated as described in Section 5.4.

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