Calculation and Payment of the Service Fees, Financial Reports, Audit and Tax Sample Clauses

Calculation and Payment of the Service Fees, Financial Reports, Audit and Tax. 2.1 Both Parties agree that, in consideration of the services provided by Party A, subject to applicable laws of China, Party A is entitled to receive fees (the “Service Fees”) from Party B equal to the total net income of Party B. The Service Fees shall be due and payable on a monthly basis. During the term of this Agreement, Party A shall have the right to adjust the above Service Fees at its sole discretion without the consent of Party B. Party B shall (a) deliver to Party A the management accounts and operating statistics of Party B for such month, including the net income of Party B during such month (the “Monthly Net Income”), and (b) pay all of such Monthly Net Income or any other amount as adjusted by Party A, to Party A (each such payment, a “Monthly Payment”). Within 7 days of receipt of such management accounts and operating statistics, Party A shall issue to Party B a corresponding technical service invoice, and Party B shall make payment of the amount of such invoice within 7 days of receipt of the same. All payments shall be transferred into the bank accounts designated by Party A through remittance or in any other way acceptable by the Parties. The Parties agree that such payment instruction may be changed by a notice given by Party A to Party B from time to time.
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Calculation and Payment of the Service Fees, Financial Reports, Audit and Tax. 2.1 The Parties agree that, in consideration of the Services, Party B shall pay Party A service fees (the “Service Fees”). Subject to PRC laws, the Service Fees shall be equal to the profit before taxation of Party B (including all profits attributable to Party B of, and any other distributions received by Party B from, any of its subsidiaries in any financial year but without taking into account the Service Fees payable under this Agreement) and deducting working capital requirements, expenses and taxes (Party A can adjust the Service Fees based on applicable PRC tax laws) and operating profit that is in compliance with the principle of independent transaction as stipulated in PRC tax law. The Service Fees shall be due and payable on a quarterly basis. Party B shall, within 7 days from the last day of each quarter, (a) deliver to Party A the management accounts and operating statistics of Party B for such quarter, including the before tax income of Party B during such quarter, and (b) pay the Service Fees to Party A upon request by Party A under various survey reports, plans, invoices or other written documents. After receipt of such management accounts and operating statistics, Party A may issue to Party B a corresponding service invoice. All payments shall be transferred into the bank accounts designated by Party A through remittance or in any other way acceptable by the Parties. The Parties agree that such payment instruction may be changed by a notice given by Party A to Party B from time to time and Party A shall have the right to adjust the Service Fees and the time of payment at its sole discretion without the consent of Party B by giving Party B no less than 10 days’ prior written notice of such adjustment during the term of this Agreement.
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Related to Calculation and Payment of the Service Fees, Financial Reports, Audit and Tax

  • Fund Valuation and Financial Reporting Services (1) Account for Fund share purchases, sales, exchanges, transfers, dividend reinvestments, and other Fund share activity as reported by the Fund’s transfer agent on a timely basis.

  • Monthly Financial Reports Manager shall cause to be prepared and delivered to Tenant reasonably detailed unaudited monthly operating reports (the “Monthly Reports”) that reflect the operational results of the Managed Facility for each month of each Operating Year. Manager shall deliver each Monthly Report to Tenant on or before the twenty fifth (25th) day of the month following the month (or partial month) to which such Monthly Report relates. At a minimum, the Monthly Reports shall include: (a) a balance sheet including current and prior month and prior year-end comparisons (to the extent applicable) and differences in reasonable detail; (b) an income and expense statement for such month and for the elapsed portion of the current Operating Year through the end of such month (with comparison to previous year); (c) a statement of cash flows for such month and for the elapsed portion of the current Operating Year through the end of such month (with comparison to previous year) in reasonable detail to allow Tenant to identify and ascertain sources and uses thereof; (d) a statement of account balances in each Bank Account; and (e) such other reports or information otherwise specified in this Agreement to be provided to Tenant on a monthly basis or as Tenant and Manager may reasonably agree from time to time. Notwithstanding anything to the contrary contained in this Section 10.2, Manager shall not be obligated to deliver a Monthly Report for the last month of each calendar quarter.

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