Loss of Revenue. In the event that TSI Contractor meets an applicable SLA, but SRTA nevertheless incurs a loss of Gross Revenue then, for each event in which SRTA incurs a loss of Gross Revenue that exceeds $5,000.00, the TSI Contractor shall be obligated to make SRTA whole and make payment to SRTA of all tolls associated with lost trips. In the event that SRTA is unable to determine lost Gross Revenue because data is lost or otherwise unavailable, then the Parties agree that lost Gross Revenue shall be based on historical figures (traffic) maintained by SRTA. SRTA, at its option, may either reduce the amount of the subsequent monthly maintenance fee or warranty fee, as applicable, by the amount of Gross Revenue due as set forth above or require TSI Contractor to make payment within thirty (30) Days of SRTA’s notice to TSI Contractor.
Loss of Revenue a) In the event that a separate Yellow Pages directory, functioning as a supplement to normal and usual Yellow Pages directory coverage, is totally withdrawn from publication by the Corporation, the resultant loss of revenue shall not constitute a debit in the computation of commission.
Loss of Revenue. Section 177 of the Motor Vehicles Act, 1988 provides that whoever (the traffic offenders) contravenes any provision of the said Act or of any rules made thereunder shall, if no penalty is provided for the offence, be punishable for the first offence with fine of Rs 100 and for any second or subsequent offence with fine of Rs 300. Further, the cases not preferred to Court/pending, become time-barred under Section 468 of the Criminal Procedure Code after the expiry of six months if the offence is punishable with fine only. A test check of records of the Joint Commissioner of Police (Traffic) Mumbai and Deputy Commissioner of Police (Traffic) at Nagpur, Pune and Thane revealed that 227866713 cases against traffic offenders were registered during 1996-2001. However, these cases were not preferred to Court in time and became time-barred under the Limitation Act, depriving the Government of minimum revenue of Rs 22.79 crore worked out at the minimum rate of Rs 100 per case. On this being pointed out in audit (January to May 2002), the department accepted the omission. The matter was reported to Government in July 2002; their reply has not been received (December 2002). STAMPS AND REGISTRATION FEES
Loss of Revenue. Incorporation of clauses in the agreement in deviation with the existing policy led to loss of revenue of ` 3.07 croreThe Assam Gas Company Limited (Company) was engaged in the business of supply and transportation as well as only transportation of gas to its customers. In order to ensure optimum utilisation of its transportation system, it was a standard practice of the Company to recover transportation charges (TC) for actual quantum of gas transported or at least to the extent of 80 per cent of monthly committed quantity. The terms and conditions of recovery of TC in the agreements entered into by the Company with its customers♣ were similarto its standard practice. The Company, however, entered (5 December 2008) into an agreement with Assam Power Generation Corporation Limited (APGCL) for transportation of0.5 million standard cubic meters per day (mmscmd) of gas to be supplied by Oil India Limited (OIL) on firm-basis (supply based on committed quantum) to APGCL’s Lakwa Thermal Power Station under a separate agreement between OIL and APGCL. The terms and conditions of the agreement inter- alia stipulated that:
Loss of Revenue. Decision of the Company to defer the procurement process without approval of the Board resulted in loss of production of 16,034 MT of Methanol with consequent loss of revenue of ` 3.16 crore.Production of Methanol by Assam Petrochemicals Limited (Company) required help of Reformer Tubes (RTs) and inlet and outlet Pigtails. RTs, in ideal conditions, had a life span of one lakh operational hours and nine months of lead-time for procurement. The longevity of RTs gets adversely affected due to frequent thermal shocks caused by erratic supply of power. To ensure un-interrupted production, advanced procurement planning and scheduled annual maintenance were essential to avoid major operational hazards.Scrutiny of records (February 2012) revealed that damages in 8 out of 42 RTs were noticed (April 2008) by the Company during annual maintenance of the Methanol plant. Abnormalities were also observed (May 2009) by the Company in functioning of these eight RTs as well as six other RTs, due to frequent thermal shocks and ageing∗. The damages in these RTs were rectified(June 2009) with some patch works and the plant was operated at a restrictedcapacity of 90 per cent considering the safety of the RTs. Anticipating the requirement of replacement of RTs and Pigtails, the Company issued (July 2009) tenders for purchase of RTs and Pigtails. Though on opening (September 2009) of technical bids, offers of four firms were found technically suitable, the offer of Manoir Petro India Limited (MPIL) for RTs was not recommended by the Tender Committee (TC) on the ground that their ∗ RT were operated for 70,000 hours as on May 2009 against 1,00,000 hours of expected life.supply points were located in China. In turn, TC requested (September 2009) MPIL to change their supply point from China, which was not accepted by MPIL. TC also did not obtain any approval of the Board before rejecting (September 2009) the offer of MPIL. The decision (November-December 2009) to replace the RTs and Pigtails during health study of the plant and planned shut down was deferred further till July 2010 as procurement of Reformer bricks∗∗ was delayed due to delay in finalisation (December 2009)of the deal. The Company, despite noticing deterioration in the health and lifeof RTs continued to operate the plant without scheduled maintenance and health check-up for two years from its last annual maintenance in April 2008. As a result, all the RTs were damaged and a major breakdown occurred on 22 July 2010 in ...
Loss of Revenue. “Delay in Full Commercial Operation Date”: Cover: Against all loss of revenue following delay in start of commercial operations as a direct result of physical loss of or damage to the works during construction or operational testing to the extent that such loss or damage is not covered under the Contractors All Risks policy. Sum insured: An amount equal to the estimated continuing expenses, including debt service, during the indemnity period. Indemnity period: Not less than 12 months. Insured: Seller and its lenders. Deductible: Not more than 90 days. Period of Cover:Construction, testing and Commissioning periods of the Plant from mobilisation of Seller’s contractors until the day following the Full Commercial Operation Date.
Loss of Revenue. If Contractor meets an applicable KPI or availability requirements (as set forth in the Scope), but the Commission nevertheless incurs a loss of gross revenue as a result of the acts or inactions of Contractor or Contractor Parties, then for each event in which the Commission incurs a loss of revenue that exceeds $5,000.00, Contractor shall make payment to the Commission of the revenue associated with lost trips and lost or unrecognized tolls. In the event that the Commission is unable to determine such lost revenue because data is lost or otherwise unavailable, then the Parties agree that the determination of the lost revenue shall be based on historical figures (traffic) maintained by the Commission. The Commission, at its option, may either reduce the amount of the subsequent monthly maintenance fee or warranty fee, as applicable, by the amount of revenue due as set forth herein, or require Contractor to make payment of the lost revenue within thirty (30) Days of the Commission's notice to Contractor of the amount. Stale Transactions. Once the Project is open to tolling and thereafter during the remainder of the Term, if as a result of the acts or inactions of Contractor or Contractor Parties, Contractor fails to successfully transmit to the CSC a properly formed E-ZPass transaction and all of the information required by this Contract for each such E-ZPass transaction within sixty (60) Days after the date the trip occurred ("Stale Transactions"), then Contractor shall be responsible to make payment to the Commission for the amount of lost tolls represented by each Stale Transaction. Contractor shall make payment to the Commission of such loss of revenue from the Stale Transactions within thirty (30) Days of the Commission's notice to Contractor.