Financial Adjustments. No Member admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager may, at its discretion, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, in accordance with the Code.
Financial Adjustments. No new Member shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Company may, at the time a new Member is admitted, close the Company books (as though the Company's tax year had ended) or make pro rata allocations of loss, income and expense deductions to a new Member for that portion of the Company's tax year in which a new Member was admitted in accordance with the provisions of IRC 706(d) and the Treasury Regulations promulgated thereunder.
Financial Adjustments. In the case of decentralised management the national authorising officer, who bears in the first instance the responsibility for investigating irregularities, shall make the financial adjustments where irregularities or negligence are detected in operations or operational programmes, by cancelling all or part of the Community contribution to the operations or the operational programmes concerned. The national authorising officer shall take into account the nature and gravity of the irregularities and the financial loss to the Community contribution.
Financial Adjustments a. In the event of an employer or employee error which affects the calculation of an employee's net pay, the Board shall notify the employee and make the applicable adjustment to correct such errors.
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Company shall, at its option, at the time a Member is admitted, do one of the following (i) close the Company's books (as though the Company's tax year had ended) or (ii) make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's tax year in which a Member was admitted in accordance with the provisions of Section 706 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder.
Financial Adjustments. 1. In the event of an employee or employer error in payment or deduction of salary, dues, or benefits, the Board shall adjust the payments of the employee to reflect the correct amount.
Financial Adjustments. To the extent that either Lessee or Lessor is allowed or is required to make financial adjustment payments at Return in light of the Aircraft and its Engines either failing to satisfy or exceeding Return Condition Requirements, the amount of such payments shall be determined as specified in Appendix H hereto.
Financial Adjustments. In the case of decentralised management the national authorising offi- cer, who bears in the first instance the responsibility for investigating irregularities, shall make the financial adjustments where irregulari- ties or negligence are detected in operations or operational program- mes, by cancelling all or part of the Community contribution to the operations or the operational programmes concerned. The national authorising officer shall take into account the nature and gravity of the irregularities and the financial loss to the Community contribution.
Financial Adjustments. The National Authorising Officer, who bears in the first instance the responsibility for investigating irregularities, shall make the financial adjustments where irregularities or negligence are detected in the management and implementation of the programme or any operations or contracts financed under the programme. He/she shall do so by cancelling all or part of the Community contribution to the operations concerned or the programme. The National Authorising Officer shall take into account the nature and gravity of the irregularities and the financial loss to the Community contribution.
Financial Adjustments. In the event that the conditions described in Sections 5.3.1 and 5.3.4 are not met, Lessee may elect, as to any or all of such conditions (a) to perform the work necessary to conform the Aircraft to the required condition or (b) to make a financial adjustment between Lessee and Lessor pursuant to this provision, provided that in no event shall the Aircraft or any landing gear be returned with less than 25% of the allowable hours or cycles, as appropriate, remaining between Cards (with respect to the Aircraft) or until the next scheduled shop visit (with respect to the landing gears):
