Annual Determination. User Fees will be determined annually in accordance with the following procedure:
Annual Determination. (a) For the Contract Year in which the Commencement Date occurs, the TOP PricePZ and Non-TOP PricePZ are set out in the relevant Train Path Schedule to the agreement.
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Annual Determination. (a) The Earn-Out will be calculated and paid annually, if earned, based upon the annual cumulative Pre-Tax Income during each fiscal year of the Applicable Term. To determine the Pre-Tax Income, within ninety (90) days after the end of each of the Company's fiscal years during the Applicable Term, the Buyer, with the assistance of the Company's management, shall have prepared and delivered to Shareholders the income statement for such year for the Company (the "EARNOUT INCOME STATEMENT"), which shall have been prepared in accordance with GAAP (excluding footnotes and other disclosures required by GAAP) applied consistently with past practices, and including an adjustment for all income taxes accrued and accruable through the date of such Earnout Income Statement, along with a statement setting forth in reasonable detail the computation of Pre-Tax Income, including identification of all excluded items and adjustments and all necessary supporting calculations.
Annual Determination. The Purchaser shall (or, at its sole discretion, shall cause the Accountants to), as soon as practicable after the end of each of calendar years 2021 and 2022, prepare in accordance with GAAP, a report containing a consolidated balance sheet of the Company as of the close of business on December 31 of each such calendar year, and a related consolidated statement of income of the Company for the twelve (12) months then ended, in each case together with a statement based upon such report which (x) states that it was prepared in accordance with this Agreement and (y) sets forth for the period under examination the applicable calculation of Revenue of the Company and EBITDA of the Company (the “Annual Determination”). The Purchaser shall have the option, in its sole discretion, to instruct the Accountants to audit the financial statements and to determine the scope of such audit. The Purchaser shall deliver a copy of each such Annual Determination to the Seller not later than 90 days after the end of the period to which such Annual Determination relates; provided, however, any delay in meeting such timetable shall impose no liability on the part of the Purchaser.
Annual Determination. Annual and other determinations of Building -------------------- and Project Operating Expenses shall be made reasonably and in good faith by Landlord by reference to competitive market conditions as to the cost of the items included as part of such expenses. Tenant shall have the right, after reasonable notice, to inspect Landlord's books and records relating to such expenses at reasonable times at Landlord's principal place of business. The annual determination of Building and Project Operating Expenses shall be made and certified by an independent certified public accountant designated by Landlord. A copy of the determination shall be made available to Tenant upon request. The independent accountant's determination shall be final and binding upon Landlord and Xxxxxx.
Annual Determination. As soon as practicable following the end of each fiscal year of the Company during the Performance Period, the Committee will determine and certify the level of achievement of the Performance Goals (as defined below) with respect to the immediately preceding fiscal year. If the Committee determines that the Target Amount (as defined below) of both of the Performance Goals was achieved as of the end of such fiscal year, then 100% of the Shares will vest as of the date of such determination, and any Dividends with respect to such Shares shall be paid or distributed on such date.
Annual Determination. Prior to the commencement of the Lease term and of each calendar year thereafter, Landlord shall give Tenant a written estimate of Building Operating Expenses, Project Operating Expenses and Tenant's proportionate share thereof payable for the ensuing year or portion thereof. Tenant shall pay such estimated amount to Landlord in equal monthly installments, in advance. Within ninety (90) days after the end of each calendar year, Landlord shall furnish to Tenant a statement showing in reasonable detail the actual Building and Project Operating Expenses incurred by Landlord during such period, and the parties shall within thirty (30) days thereafter make any payment or allowance necessary to adjust Tenant's estimated payment to Tenant's actual proportionate share as shown by such annual statement. Any amount due Tenant shall be credited against installments next coming due under this Paragraph 3.
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