Reconciliation Procedure Clause Samples
The Reconciliation Procedure clause establishes a formal process for comparing and resolving discrepancies between records or accounts maintained by different parties. Typically, this involves periodic reviews where each party submits their records for comparison, and any differences are identified and addressed through a defined communication and resolution process. This clause ensures that both parties maintain accurate and consistent records, minimizing the risk of disputes and promoting transparency in their transactions.
Reconciliation Procedure. As soon as practicable following the December 31 Calculation Date for each calendar year, the Manager shall determine and document: (A) the aggregate amount of Performance Fees paid or accrued with respect to such calendar year; and (B) an amount equal to thirty-three percent (33%) of the Net Increase in Capital above the High Water Mark for such calendar year. If the amount in clause (A) exceeds the amount in clause (B) (such excess, the “Excess Amount”), then the Performance Fee otherwise payable as of the December 31 Calculation Date shall be reduced by the Excess Amount. If such reduction is insufficient to eliminate the Excess Amount, the Manager shall promptly, and in any event within ten (10) business days after final determination of the Excess Amount, return to the Client Bitcoin (valued in accordance with the valuation principles applicable under this Agreement as of the December 31 Calculation Date) in an amount equal to the remaining Excess Amount, so that the total Performance Fees for the year do not exceed the Annual Cap.
Reconciliation Procedure i. Seller shall submit a written request for Reconciliation via email to A▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ with the subject line, “REQUEST FOR RECONCILIATION”;
ii. Said written request shall include a copy of the Seller’s most recent bank statement and credit card processing statement;
iii. The Purchaser shall have five (5) Business Days to review the Request for Reconciliation.
Reconciliation Procedure i. Seller shall submit a written request for Reconciliation via email to r▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇ with the subject line, “REQUEST FOR RECONCILIATION”;
ii. Said written request shall include a copy of the Seller’s most recent bank statement and credit card processing statement from the accounts previously provided by Seller to Purchaser based upon which the Initial Scheduled Remittance set forth in Section 1 above (or the then current Adjusted Scheduled Remittance, as the case may be) was determined. Owner(s)/Guarantor(s) Initials [______]
iii. The Purchaser shall have five (5) Business Days to review the Request for Reconciliation.
iv. Any Request for Reconciliation must be initiated prior to the Expiration Date and Seller must not be in default as defined by this Agreement.
Reconciliation Procedure. During a Billing Reconciliation Process, Licensed Operators shall work together in good faith, taking more frequent measurements and exchanging detailed information if necessary. The OLO and Dawiyat Integrated will agree that a discrepancy of up to three percent (3%) per Wholesale Service will be accepted. That is to say that where there is a discrepancy between the invoice supplied by Dawiyat Integrated and the invoice expected by the OLO for any one service type or facility, and the amount of the discrepancy is less than three percent (3%) or a monetary value of less than SAR 40,000 there will be no billing reconciliation procedure for that service type or facility. Otherwise, the discrepancy will be subject to the reconciliation procedure detailed below. Where the OLO has notified Dawiyat Integrated, within three (3) weeks of receipt of the invoice, of a discrepancy between the Invoice issued by Dawiyat Integrated and the invoice expected by the OLO and such discrepancy is outside of the permitted tolerance as set out in Clause 5.4.19 the procedure set out in Clauses 5.4.21 to 5.4.26 inclusive shall apply. Dawiyat Integrated and the OLO will act in good faith to resolve the discrepancy in a timely manner. Within seven (7) Calendar Days of the OLO notifying Dawiyat Integrated of an unacceptable discrepancy the OLO will supply to Dawiyat Integrated as much supporting information as possible that may justify the OLO’s request for a dispute resolution. Each party will review the data supplied by the other Party in order to determine the source of the discrepancy in the Wholesale Services’ Invoice. In order to reconcile the billing discrepancy, the Joint Technical and Operational Committee from both Parties will meet within ten (10) Business Days of receipt of the Dawiyat Integrated invoice. Please also refer to Section
Reconciliation Procedure. Each of the Business Managers from ▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇ Area will compile all cooped sports expenses and revenues from their respective district’s activities. Co-op expenses and revenue reconciliation reports will be submitted to each district’s superintendent by ▇▇▇▇ so that budgetary differences can be paid out prior to the close of that fiscal year. When calculating transportation, the amount of $2.25 per mile for buses, and state rate for all other vehicles, will be used toward reconciliation, and driver salaries will not be included in the reconciliation process. Practices will not be reconciled unless a 50/50 arrangement in sites does not exist at the end of the last coop sports season. Mileage & Meals will be calculated at the current State rate. Transportation logs (including date of event, location of event, total miles travelled) can be used for documentation purposes.
Reconciliation Procedure i. Seller shall submit a written request for Reconciliation via email to r▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇ with the subject line, “REQUEST FOR RECONCILIATION”;
ii. Said written request shall include a copy of the Seller’s most recent bank statement and credit card processing statement from the accounts previously provided by Seller to Purchaser based upon which the Initial Scheduled Remittance set forth in Section 1 above (or the then current Adjusted Scheduled Remittance, as the case may be) was determined.
iii. The Purchaser shall have five (5) Business Days to review the Request for Reconciliation.
iv. Any Request for Reconciliation must be initiated prior to the Expiration Date and Seller must not be in default as defined by this Agreement.
Reconciliation Procedure. Such Proposed Resolution must be approved and adopted by a majority of the Directors voting in favor of the Proposed Resolution.