Board Interpretation Clause Samples
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Board Interpretation. The Grantee hereby agrees to accept as binding, conclusive, and final all decisions and interpretations of the Board and, where applicable, the Committee concerning any questions arising under this Agreement or the Plan.
Board Interpretation. The Optionee hereby agrees to accept as binding, conclusive, and final all decisions and interpretations of the Board of Directors of the Corporation and, where applicable, the Compensation and Personnel Committee of the Board of Directors (the “Committee”) concerning any questions arising under this Agreement or the Plan.
Board Interpretation. The Optionee hereby agrees to accept as binding, conclusive, and final all decisions and interpretations of the NewCo Board and, where applicable, the Committee, concerning any questions arising under this Agreement or the NewCo Plan.
Board Interpretation. For a jurisdiction implementing on a date other than January 1, an average of 3% per year to equate to the required audits of 15% of a jurisdiction’s licensees in a 5-year period, will be proportionally reduced to equate to the nu m ber of months in IFTA that year. The requirement will be based on the full calendar year for each year after implementation. IFTA Ballot 4-1995 a mended IFTA Articles of Agree- ment Section R1510.200 to change terminology from “operations review” to “progra m compliance review” and to m ake other changes consistent with a long- range progra m compliance package ratified by the mem bership at the 1995 Annual Business Meeting and was effective January 1, 1996. Ballot 90-312-1 a mended the Articles of Agreement to provide for the establishment of the International Fuel Tax. See commentary at IFTA Articles of Agreement Section R1505 regarding the establishment of the International Fuel Tax Association. IFTA Ballot 3-92 a mended the IFTA Articles of Agree- ment Section R1530 to state that new jurisdictions m ust begin implementation on January 1 or July 1, effective January 1, 1993. See commentary at IFTA Articles of Agreement R1505 regarding the establishment of the International Fuel Tax Association.
Board Interpretation. Under the Agreement it is permissible for the carrier to be allowed to include intrastate qualified vehicle miles and reporting of intrastate operations through the IFTA return or through their own state return. If they are through IFTA, then the IFTA jurisdiction will need to m ake sure that in the audit the proper a mount of taxation is collected and distributed. See commentary at IFTA Articles of Agreement Section R130 regarding a mendments to accommodate jurisdictions outside of the United States .
Board Interpretation ay trans mit funds separately from the trans mittal report. If a jurisdiction chooses to trans mit funds separately from the trans mittal report, the date of the trans- mission of funds is the date that will be used in a Progra m Compliance Review to determine timely trans mittal.
Board Interpretation. The IFTA Articles of Agreement do not require a specific method of interest calculation on an audit. Both the “majority” method and “minority” method are acceptable. IFTA Ballot 11-1996 a mended IFTA Articles of Agree- ment Section R1240.300 to specifically state how audit interest m ust be calculated effective July 1, 1998. See commentary at IFTA Articles of Agreement Section R1230 regarding collection of interest for all jurisdictions. IFTA Ballot 12-92 a mended IFTA Articles of Agreement Section R1250 to allow jurisdictions to waive interest if statutory authority is present, effective January 1, 1993.
Board Interpretation. The base jurisdiction would follow its own ad ministra- tive procedures laws regarding the revocation /suspen- sion of an IFTA license and the appeal of such action. The Articles of Agreement Sections R410.