Accounting for Sums Received Sample Clauses

The "Accounting for Sums Received" clause requires a party to accurately record and report any payments or funds they receive in connection with the agreement. In practice, this means the party must keep detailed records of all amounts received, provide periodic statements or reports to the other party, and ensure transparency regarding the handling of such funds. This clause serves to promote financial accountability and transparency, helping to prevent disputes over money received and ensuring that all parties are aware of the financial transactions related to the contract.
Accounting for Sums Received. Notwithstanding the provisions of clause 10.5.2, to notify the Principal within 10 Banking Days of the end of each Month of the Metered Output in that Month in respect of the PPA pursuant to this Agreement and to pay to the Principal on or before the Payment Date in respect of that Month, or, if later, to pay within 10 Banking Days of receipt of an invoice (including a VAT invoice) from the Principal, the total sum received by it in respect of the PPA pursuant to this Agreement in that Month provided that NFPAS shall be entitled to and shall deduct from or set off any amounts due to NFPAS from the Principal under clause 7.2 or otherwise under this Agreement from such payment (and NFPAS shall render an invoice (including a VAT invoice) in respect of such set-off amount or deduction in accordance with clauses 7.1.1 and 7.1.4 accordingly).
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Accounting for Sums Received. To pay to the Principal within 1 Banking Day of receipt of the total sum received by NFPAS in respect of the sale of ROCs and/or REGOs pursuant to this Agreement in respect of each Auction or, if later, within 5 Banking Days of receipt of an invoice (including a VAT invoice) from the Principal in respect of the same provided that NFPAS shall be entitled to and shall set off any amounts due to NFPAS from the Principal under Clause 7.2 or otherwise under this Agreement from such payment (and NFPAS shall render an invoice (including a VAT invoice) in respect of such set-off amount in accordance with Clause 7.1.3 accordingly).
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Related to Accounting for Sums Received

  • Accounting Format Applications for Payment shall be broken down by CSI Category and, in certain situations, by CSI Description and capital asset category, as set forth in the form for Application for Payment. The purpose is to provide appropriate backup documents for the Contractor’s Final Certification of Costs in conformance with GASB 34 accounting standards. See Section 7 – Forms, “Application for Payment” and Final Certification of Costs.

  • Tax Accounting Services (1) Maintain accounting records for the investment portfolio of the Fund to support the tax reporting required for “regulated investment companies” under the Internal Revenue Code of 1986, as amended (the “Code”). (2) Maintain tax lot detail for the Fund’s investment portfolio. (3) Calculate taxable gain/loss on security sales using the tax lot relief method designated by the Trust. (4) Provide the necessary financial information to calculate the taxable components of income and capital gains distributions to support tax reporting to the shareholders.

  • Portfolio Accounting Services (1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser. (2) For each valuation date, obtain prices from a pricing source approved by the board of trustees of the Trust (the “Board of Trustees”) and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, procedures for determining the fair value for such securities. (3) Identify interest and dividend accrual balances as of each valuation date and calculate gross earnings on investments for each accounting period. (4) Determine gain/loss on security sales and identify them as short-term or long-term; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date. (5) On a daily basis, reconcile cash of the Fund with the Fund’s custodian. (6) Transmit a copy of the portfolio valuation to the Fund’s investment adviser daily. (7) Review the impact of current day’s activity on a per share basis, and review changes in market value.

  • Accounting Services The Manager will provide all accounting services customarily required by investment companies, in accordance with the requirements of applicable laws, rules and regulations and with the policies and practices of the Fund as communicated to the Manager from time to time, including, but not limited to, the following: (a) Maintain fund general ledger and journal; (b) Prepare and record disbursements for direct Fund expenses; (c) Prepare daily money transfer; (d) Reconcile all Fund bank and custodian accounts; (e) Assist Fund independent auditors as appropriate; (f) Prepare daily projection of available cash balances; (g) Record trading activity for purposes of determining net asset values and daily dividend; (h) Prepare daily portfolio valuation report to value portfolio securities and determine daily accrued income; (i) Determine the net asset value per share daily or at such other intervals as the Fund may reasonably request or as may be required by law; (j) Prepare monthly, quarterly, semi-annual and annual financial statements; (k) Provide financial information for reports to the Securities and Exchange Commission in compliance with the provisions of the Investment Company Act of 1940 and the Securities Act of 1933, the Internal Revenue Service and any other regulatory or governmental agencies as required; (l) Provide financial, yield, net asset value, and similar information to National Association of Securities Dealers, Inc., and other survey and statistical agencies as instructed from time to time by the Fund; (m) Investigate, assist in the selection of and conduct relations with custodians, depositories, accountants, legal counsel, insurers, banks and persons in any other capacity deemed to be necessary or desirable for the Fund's operations; and (n) Obtain and keep in effect fidelity bonds and directors and officers/errors and omissions insurance policies for the Fund in accordance with the requirements of the Investment Company Act of 1940 and the rules thereunder, as such bonds and policies are approved by the Fund's Board of Directors.

  • Fees for Service and Taxes A. The Local Exchange Company will not be charged a fee for storage services provided by BST to the Local Exchange Company, as described in Section I of this Agreement. B. Sales, use and all other taxes (excluding taxes on BST’s income) determined by BST or any taxing authority to be due to any federal, state or local taxing jurisdiction with respect to the provision of the service set forth herein will be paid by the Local Exchange Company. The Local Exchange Company shall have the right to have BST contest with the imposing jurisdiction, at the Local Exchange Company’s expense, any such taxes that the Local Exchange Company deems are improperly levied.