Quarterly and Annual Reconciliation Sample Clauses

Quarterly and Annual Reconciliation. 10.6.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 days of the end of the quarter at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year within 30 days to take into account the Energy Accounts, Tariff adjustment payments, Tariff Rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this Agreement.
Quarterly and Annual Reconciliation. Parties acknowledge that all payments made against Weekly Bills, Provisional Bill and Supplementary Bills shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Tariff Adjustment Payments, Late Payment Surcharge, or any other reasonable circumstance provided under this Agreement. The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year as the case may be has been finally verified and adjusted, the Corporation and First Party shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the Corporation or First Party, as the case may be, shall raise a Supplementary Bill for the Tariff Adjustment Payments for the relevant quarter/ Contract Year and shall make payment of such Supplementary Bill for the Tariff Adjustment Payments for the relevant quarter/Contract Year. Late Payment Surcharge shall be payable in such case from the date on which such payment had been made to the invoicing Party or the date on which any payment was originally due, as may be applicable. Any dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of Article 21. Initials: __________ Initials: __________ Strictly Confidential Property of BioCrude Technologies, Inc. MSW, Land & Treated Sewage Effluent Concession Agreements
Quarterly and Annual Reconciliation. The parties acknowledge that all payments made against the Invoices shall be subject to quarterly reconciliation within ninety (90) Business Days of the end of the quarter of each Contract Year and annual reconciliation within 90 (ninety) Business Days of the end of each Contract Year. The parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year as the case may be has been finally verified and adjusted, the BPDB and the Company shall jointly sign such reconciliation statement. Provided that the joint signing of such reconciliation statement shall be conducted in India and Bangladesh on alternate basis or as mutually agreed between the Parties. After signing of a reconciliation statement, the Company shall make appropriate adjustments in the following Invoice, with interest, as applicable. Interest shall be payable in such a case from the date on which such payment had been made to the invoicing party or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions mentioned above.
Quarterly and Annual Reconciliation. 10.8 Payment of Supplementary Bill ...................................................................................................................... ARTICLE 11: FORCE MAJEURE 40 11.1 Definitions ......................................................................................................................................................
Quarterly and Annual Reconciliation. 10.13.1 Parties acknowledge that all payments made against Monthly Bill(s) and Supplementary Bill(s) shall be subject to quarterly reconciliation at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year to take into account Regional Energy Account, adjustments in Transmission Charges payments, Rebates, Late Payment Surcharge, Incentive, Penalty, or any other Assam Power Distribution Company Limited Meghalaya Energy Corporation Limited Tripura State Electricity Corporation Limited Department of Power, Arunachal Pradesh Manipur State Power Distribution Company Limited Department of Power, Nagaland Power & Electricity Department, Mizoram HVDC BNC, Powergrid SPV [Which is under Incorporation] reasonable circumstance as may be mutually agreed between the Parties.
Quarterly and Annual Reconciliation. The parties acknowledge that all payments made against the Invoices shall be subject to quarterly reconciliation within 30 (thirty) Business Days of the end of the quarter of each Financial Year and annual reconciliation within 30 (thirty) Business Days of the end of each Financial Year to take into account the Energy Accounts of SLDC, Administrator Andaman & Nicobar, tariff, interest charges etc. under this Agreement.
Quarterly and Annual Reconciliation. 4.1 After each Quarter the Company will produce a Quarterly Reconciliation Report. This report will compare the actual number of customers receiving Bill Reduction and the total value of all Bill Reductions made in aggregate for the Charging Year up to the relevant Quarter. The Funding Schedule as hereinafter provided will be recalculated and any adjustments made to the total Funding for the remaining Quarters of the Charging Year and the profile for the required payment by Defra, including any Excess pursuant to clause 5A.5.