Quarterly Calculation Clause Samples

Quarterly Calculation. The Performance Fee shall be calculated and become payable on a quarterly basis as of each March 31, June 30, September 30 and December 31 (each, a “Calculation Date”) by 5PM ET on each Calculation Date. The Performance Fee is subject to the Annual Reconciliation and Clawback provisions set forth herein.

Quarterly Calculation. Buyer will invoice Seller and GSE Systems for the amount of any unbilled Development Overruns quarterly commencing on the 15th day of the fourth full calendar month after the Effective Date and continuing on the 15th day of the first month of each quarter thereafter. Buyer shall provide with each invoice, a calculation of the Development Overruns. Seller and GSE Systems shall pay such invoiced Development Overruns to Buyer within 30 days of receipt of each invoice. Buyer will provide Seller with copies of the time records for Buyer's Research and Development personnel who performed the development work and other supporting documentation as Seller may reasonably request.

Quarterly Calculation. 1. Unless otherwise adjusted as provided herein, the **** for each Year of the Term will be distributed by calendar quarter, as follows (“Quarterly ****”): 1st quarter $ **** 2nd quarter $ **** 3rd quarter $ **** 4th quarter $ **** 2. BAC shall pay all fees at MasterCard Standard Pricing as applicable under the Rules and with the same frequency as required in the MCBS Manual. At the conclusion of each calendar quarter of the Term for each of the first three calendar quarters of every Year after the Effective Date, and within thirty (30) days after BAC has provided the Required Reports for such quarter, MasterCard shall make the appropriate calculation and **** of BAC’s actual payments of the **** for such period pursuant to this Section 2. 3. Unless otherwise adjusted as provided herein, the appropriate **** and the corresponding applicable **** and **** for such quarter shall be determined in Table 2. Notwithstanding the foregoing, the **** to be applied the **** Year of the **** Term shall be the **** that was applied to **** in the immediately preceding Year. 4. In order to determine the appropriate **** for use in the calculation below, and as part of the quarterly reconciliation process, MasterCard will determine and reconcile based on a **** annual tier level for which BAC will qualify by **** and **** its cumulative quarterly **** by the following ****: 1st Qtr. ****– by ****, Year-to-date to end of 2nd Qtr. – by **** Year-to-date to end of 3rd Qtr. – by **** 5. The **** for a quarter is calculated as: **** ****. See Annex A for examples of this calculation.

Quarterly Calculation. Each month following the end of each Quarter of the calendar year, the Parties undertake to carry out the following acts for purposes of reimbursing the expenses related to Shared Resources actually used in the immediately preceding Quarter: 7.2.1. By the twenty-fifth (25th) day of the month following the end of each Quarter, the Management Committee, after approving the Monthly Consolidated Reports for each Quarter, will forward a final report containing the information in the Monthly Consolidated Reports for each Quarter ("Quarterly Consolidated Report") to the Approval Committee. 7.2.2. If none of the Parties makes any statement within five (5) days from the issue date of the Quarterly Consolidated Report, the Quarterly Consolidated Report must be considered accepted by the Parties, which will be considered the final quarterly report ("Final Quarterly Report"). 7.2.3. Within five (5) days from the issue date of the Quarterly Consolidated Report, any Party that disagrees with the Quarterly Consolidated Report must notify CBD in writing indicating its duly substantiated disagreement at the discretion of CBD ("Notice of Disagreement"). 7.2.4. Within sixty (60) days from receipt of the Notice of Disagreement by CBD, the Parties will make every effort to reach an agreement on the adjustments to be made to the Quarterly Consolidated Report for the issue of the Final Quarterly Report. If the Parties do not reach an agreement within this period, the Parties undertake to hire an independent specialized company to evaluate the Quarterly Report ("Consultant"). The Consultant's opinion on the Quarterly Consolidated Report, which must be issued after thirty (30) days of its hiring, must be final and binding upon the Parties. 7.2.5. Within five (5) days from the issue date of the Consultant's opinion, CBD shall issue the final quarterly report reflecting the adjustments requested by the Consultant, as the case may be.

Quarterly Calculation. Within the first fifteen (15) Days of each Quarter following any Quarter within the Guarantee Period, Seller shall provide to Buyer a detailed report, substantially in the form of Annex 11, including (i) the calculation of the Differential for the preceding Quarter, (ii) the calculation of any Quarterly Shortfall or Quarterly Surplus for such preceding Quarter, (iii) the application of any credit or premium to the purchase price of Maya delivered during such preceding Quarter, (iv) any Premium Carryforward or Credit Carryforward from such preceding Quarter, (v) the calculation of any Credit Interest for the prior Quarter, and (vi) the amount of credits or premiums to be applied during the current Quarter. Within ten (10) Days from receipt of such report, Buyer shall notify Seller of any claimed discrepancy therein and any proposed amendment thereto; it being understood that the parties shall, in such event, undertake in good faith to resolve such discrepancy promptly and in any event prior to the payment date of the first invoice for Maya delivered in such Quarter. Pending the resolution of any claimed discrepancy, Buyer shall make payment to Seller in accordance with Article 11.2 based on the calculations made by Seller pursuant to this Part IV as set out in Seller's report.