Annual True-Up. This cost or revenue is intended to cover changes in the estimated vs actual transportation costs, half of shared maintenance expenses, and estimated vs actual butane purchase costs. The cost or revenue is calculated ETP. MPC will pass ninety-five (95%) of this to Terminal Owner.
Annual True-Up. The Fee Reduction calculation for any Fee Obligation Period will applied one-time only for an SSA quarter and will not be adjusted for any of the following conditions:
Annual True-Up. Within […***…] of the end of the applicable […***…] the Parties will reconcile the costs and expenses set forth in […***…] Expense Reports presented by Dimension in respect of the applicable […***…] (“Total Actual Expenses”) with the sum of the costs and expenses paid by Bayer in respect of the first […***…] Expense Reports plus the Estimated […***…] Payment (“Actual Plus Estimated Expenses”). If the Parties determine that the Actual Plus Estimated Expenses exceed Total Actual Expenses, then the amount of such excess will be credited against the amount due by Bayer in respect of the first […***…] of the following […***…] (or, if no such payment is anticipated, refunded by Dimension to Bayer within […***…] of such determination). If the Parties determine that Total Actual Expenses exceed Actual Plus Estimated Expenses, but that such actual costs and expenses are nonetheless within […***…] of the then-current Research Budget for the applicable […***…], then Bayer will include the excess amount owed to Dimension with the amount due by Bayer in respect of the first […***…] of the next […***…] (or, if no such payment is anticipated, paid by Bayer to Dimension upon receipt of an invoice under the following payment timing terms: if the invoice is received by Bayer at the above address prior to […***…], then payment shall be made by the […***…] in which the invoice was received. If the invoice is received by Bayer at the above address after the […***…], then the payment shall be made by the […***…] in which the invoice was received).
Annual True-Up. Within forty-five (45) days of the end of each fiscal year, the Parties shall cooperate in good faith to determine the actual amount of Applicable Bank Fees paid by Provider in connection with providing the Services to each Recipient Party pursuant to this Agreement during such fiscal year, and compare such amount to the amount budgeted for Applicable Bank Fees for each Recipient Party for such fiscal year. If the Parties mutually determine that such actual amount is greater than such budgeted amount, then the applicable Recipient Party shall, within thirty (30) days of such determination, pay to Provider the difference between such actual and budgeted amounts. In the event the Parties mutually determine that such actual amount is less than such budgeted amount, Provider shall, within thirty (30) days of such determination, pay to each Recipient Party the difference between such actual and budgeted amounts. For the avoidance of doubt, no costs other than the Applicable Bank Fees shall be subject to the true-up procedures set forth in this Section, but the actual costs and expenses of Provider shall, together with the actual Applicable Bank Fees, serve as a basis for determining the subsequent fiscal year’s Budgeted Service Costs for such fiscal year pursuant to Section 3(c) of this Schedule 7.1.
Annual True-Up. Within ninety (90) days following the end of each calendar year, Sublandlord shall deliver to Subtenant a statement of Subtenant’s Share of the actual cost of Utilities incurred for the preceding year, together with copies of all invoices for Utilities if requested by Subtenant. If on the basis of such statement Subtenant owes an amount that is more or less than the estimated payments for the preceding year previously made by Subtenant, Subtenant or Sublandlord, as the case may be, shall pay the deficiency to the other party within thirty (30) days after delivery of the statement. Failure or inability of Sublandlord to deliver the annual statement within such ninety (90) day period shall not impair or constitute a waiver of Subtenant’s obligation to pay in accordance with this Section for Utilities it consumes, or cause Sublandlord to incur any liability for damages.
Annual True-Up. Lender will perform a true-up at the end of every Contract Year (the “Annual True-Up”). Lender will calculate (a) the aggregate value of the Project SRECs and cash (excluding any Annual True-Up or Biennial True-Up payments made that Contract Year) received from Borrower to pay the Loan for the Contract Year (“Actual Payments”), and (b) ninety percent (90%) of the total payments due with respect to the Loan for the Contract Year as indicated in the Loan Amortization Schedule (the “90% Amount”). Within thirty (30) days from receipt of written notice from Lender, Borrower will pay Lender in cash an amount (the “Annual True-Up Payment”) equal to the positive difference, if any, between (x) the 90% Amount minus (y) the Actual Payments, and such Annual True-Up Payment will be applied to the Actual Loan Balance. Overdue Annual True-Up Payments shall accrue interest at the rate set forth in Section 11.2(c) and, in addition, may be subject to a late fee equal to one percent (1%) of the Actual Loan Balance.
Annual True-Up. At least annually, Service Provider and each Service Recipient shall conduct a true-up under which Service Provider shall compare the Monthly Fee paid by such Service Recipient to the actual Allocations incurred by Service Provider or its Affiliates in connection with the provision of Services to such Service Recipient. Service Provider or such Service Recipient, as applicable, shall pay to the other Party the net amount owing as a result of any such true-up (the “True-Up Amount”), at such time and on such terms as may be agreed to by Service Provider and such Service Recipient. Notwithstanding the foregoing, Service Provider may, for any reason including upon request by any Service Recipient, in Service Provider’s sole discretion and at any time, perform such true-ups more frequently than annually.
Annual True-Up. Customer’s Annual Minimum Tonnage purchase requirement set forth in Section 2.5.1 above shall be considered “take or pay” (i.e., Customer shall pay the purchase price for such Annual Minimum Tonnage whether or not Customer actually plans orders for the same); provided that Customer shall only have to pay for *** percent (***%) of the portion of the Annual Minimum Tonnage that Customer did not order during such Contract Year. At the conclusion of each Contract Year, Customer shall be obligated to pay Supplier, within 45 days of the conclusion of such Contract Year, for *** percent (***%) of the portion of the Annual Minimum Tonnage that Customer did not order during such Contract Year (the “Annual True-Up”); provided, however, that for purposes of calculating the Annual True-Up, the Annual Minimum Tonnage shall be reduced by such amount to take into account (i) the reduced Monthly Minimum Tonnage and Annual Minimum Tonnage applicable during the Transition Period as set forth in Section 2.6.2 above and (ii) the reduced Monthly Minimum Tonnage and Annual Minimum Tonnage applicable during the Ramp-Up Period as set forth in Section 2.6.3 above. Supplier shall be entitled to sell to other customers of Supplier any or all of the Annual Minimum Tonnage not ordered by Customer.
Annual True-Up. Each Subsidiary shall pay to MBIA, or MBIA shall pay to each Subsidiary, as the case may be, the difference, if any, between the tax payable pursuant to Section 2.03 for such taxable year and the amount, if any, paid by the Subsidiary to MBIA pursuant to Section 2.04(a) for such taxable year.
Annual True-Up. In the event that, as a result of Master Landlord’s end of year reconciliation under Section 13.1.2 of the Master Lease of electricity usage charges for the Subleased Premises, Master Landlord bills Sublandlord for a deficiency payment, Subtenant will pay the amount of such xxxx to Sublandlord within ten (10) days of demand from Sublandlord (which demand will include a copy of such Master Landlord invoice). In the event that such reconciliation under Section 13.1.2 of the Master Lease results in a determination by Master Landlord that a credit is due to Sublandlord, then Subtenant shall also be entitled to one hundred percent (100%) of the credit received by Sublandlord and credited against Subtenant’s next due Estimated Electricity Usage Charges hereunder or, if the Sublease has been terminated, then such amount shall be refunded to Subtenant in cash upon Sublandlord’s receipt of such cash refund from Master Landlord.
