Common use of Calculation Procedure Clause in Contracts

Calculation Procedure. Segment A: The Time of the recording of the receipt by the Comptroller to the issuance of the warrant. [Average Daily Balance] * [Interest Rate] Segment B: The time from the issuance of the warrant to the presentation of the warrant to the Treasury for payment. ([Program Total] - [CMIA Covered Share of EFT]) * [Payroll % of Warrants] * [Interest Rate] * [Payroll Average Clearance Pattern/365] AND ([Program Total] - [CMIA Covered Share of EFT]) * [Non-Payroll % of Warrants] * [Interest Rate] * [Non-Payroll Average Clearance Pattern/365] Interest Liability = Segment A + Segment B