Carryover Funds. See Item 9 for terms governing the Carry-Over amount for each HRA.
Carryover Funds. If any portion of an advance payment has not been expended at the completion of its corresponding Assessment Phase, such remaining amount shall be credited toward future work to be performed in a subsequent Assessment Phase. Should the Parties decide not to engage in additional Assessment Phases or apply the remaining amount to any ultimate NRD settlement, then such remaining amount will promptly be returned to Rayonier, so long as such action is permitted by applicable law. If a trustee is barred by law from returning some portion of the remaining amount, that amount shall be credited against any remaining NRD liability that Rayonier may be responsible for at the Facility.
Carryover Funds. The Parties acknowledge the existence of a “Technology Reserve Account” established under the terms of a prior agreement between the Parties for the provision of Technology Services by SCN to ANAHEIM for the ACC. As of the expiration of the term of the previous agreement, funds remaining on deposit in said account, which were not committed to technology upgrades at the ACC and which were required under the terms of said agreement to be retained by ANAHEIM and to be used in the sole discretion of ANAHEIM are herein referred to as the “Carryover Funds”. The Parties hereby agree that SCN shall allocate the Carryover Funds to be used in connection with expenditures to be made from the Technology Reserve Fund immediately following its establishment under this Agreement and the Carryover Funds will be recorded and tracked separately from the Technology Reserve Funds. Until such time as the Carryover Funds have been totally expended, such funds shall be expended for such technology driven equipment and/or projects as may be determined from time to time by and in the sole discretion of the Executive Director.
