Accruals Basis definition

Accruals Basis means that basis of accounting under which costs and benefits are regarded as applicable to the period in which the liability for the cost is incurred or the right to the benefit arises regardless of when invoiced, paid or received;
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Accruals Basis means the basis of accounting under which costs and benefits are regarded as applicable to the period in which the liability to the cost is incurred or the right to the benefit arises regardless of when invoiced, paid or received;
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Examples of Accruals Basis in a sentence

  • All adjustments and reimbursements made and the ascertainment of all Obligations and Benefits under this clause 12 will be calculated using the Accruals Basis of Accounting.

  • All adjustments and reimbursements made and the ascertainment of all Obligations and Benefits under this Clause 6 shall be calculated using the Accruals Basis of Accounting.

  • Accordingly, applying the Accruals Basis of accounting and subject to Completion occurring in respect of the applicable Transferred Interests, the Purchaser shall, in addition to the Consideration, bear the Obligations incurred in the Interim Period and shall receive the Benefits arising in the Interim Period, all of which shall be paid or received by the Purchaser as provided in clauses 4 and 7.2.

  • Any amount to be paid or reimbursed in accordance with this clause 7.2 (which shall be determined on an Accruals Basis) after the provision of the Final Completion Statement pursuant to clause 4.10, shall be treated as an adjustment to the Consideration and shall be paid or reimbursed within ten (10) Business Days of receipt thereof (or, in the case of Obligations, within ten (10) Business Days of receipt of notification from the Party which has incurred such Obligations).

  • Accounting shall be carried out on an Accruals Basis, provided however that the Cash Basis principle shall be used to record recovery of the Petroleum Costs.

Related to Accruals Basis

  • Accrual basis has the meaning set forth in Section 3.1(c).

  • Interest Accrual Basis The basis on which interest accrues in respect of any Mortgage Loan, any REMIC I Regular Interest, any REMIC II Regular Interest, any Regular Certificate, any of the Class A-S, Class B and Class C Certificates, any of the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest or any particular REMIC III Component of a Class of Interest Only Certificates, in each case consisting of one of the following: (i) a 30/360 Basis; or (ii) an Actual/360 Basis.

  • Available Income means, on each Distribution Date, an amount calculated for each of the Paired Trusts as all funds on deposit in the applicable trust on that Distribution Date after that trust has (i) set aside an amount equal to the Fee Deduction Amount to pay fees and expenses, (ii) paid or received a payment from the other Paired Trust under the income distribution agreement and (iii) acquired treasuries with an aggregate purchase price equal to the Aggregate Par Amount of its shares as of that Distribution Date.

  • Net earnings available for fixed charges means net income after deducting operating and maintenance expenses, taxes other than federal and state income taxes, depreciation, and depletion, but excluding extraordinary expenses appearing in the regular financial statements of the system.

  • Consolidated Depreciation and Amortization Charges means, for any period, the aggregate of all depreciation and amortization charges for fixed assets, leasehold improvements and general intangibles (specifically including goodwill) of the Borrower and its Subsidiaries for such period, as determined on a consolidated basis and in accordance with GAAP.