Program Revenues Clause Samples
The 'Program Revenues' clause defines how income generated from a specific program or project will be handled and allocated among the parties involved. Typically, this clause outlines what constitutes program revenues, such as ticket sales, sponsorships, or merchandise, and specifies the process for collecting, reporting, and distributing these funds. Its core function is to ensure transparency and fairness in the management of program-generated income, reducing the risk of disputes over financial entitlements.
Program Revenues. For each of Seller's fiscal years ending on December 31, 1995, 1996 and 1997 none of the Schools have received greater than eighty-five percent (85%), and for each of Seller's fiscal years ending on December 31, 1998 and 1999 no greater than ninety percent (90%), of such School's respective revenues from programs authorized by Title IV or other federal student financial aid funds, and each of the Schools satisfies the requirements regarding Title IV program funds established by the DOE as set forth at 34 C.F.R. (S)600.5. The attached Schedule 5.23 contains a correct ------------- statement of Seller's percentage of revenue from such federal funding sources.
Program Revenues. Program Revenues are all revenues and income generated or appropriated for and received by or on behalf of the School as attributed to any Student, the School or the Program which includes, but is not limited to, the following sources as applicable: state and local per-pupil basic education funds and other public school state and local funding; federal funds specific to the Program and/or its students; other funding including, but not limited to, Title I of the Elementary and Secondary Education Act of 1965, as amended (20 ▇.▇.▇. §▇▇▇▇ et seq., as amended); State provided facility funding and other income or revenue sources provided by law and obtained by the School and/or K12 which are not specifically excluded herein and all contributions and grants (including but not limited to Charter School Block Grants and other grants as applicable) received by or on behalf of the School and granted as a matter of right and/or practice or through competitive and non-competitive grant processes, which are to assist in the improvement of the Facility, the implementation or maintenance of the Program, and/or School operations. Program Revenues shall not include: (i) income generated by Students individually or collectively via student fundraisers (whether not such fund raiser is School-sponsored), and (ii) private charitable donations made to the School’s general fund; all to the extent K12 is not required to manage, track, report on or otherwise assist with the generation, disbursement or collection of such income or donations.
Program Revenues. Each Party will be entitled to and responsible for those fees and charges as set forth in Exhibit B hereto [Fee Schedule]. Except for those fees expressly set forth in this Agreement (including Exhibit B), Bank shall not impose any other fees on Company in connection with this Agreement. The Parties acknowledge and agree that the [***]. At any time, if Bank and Company agree upon additional services from Bank, the Parties will negotiate in good faith to determine the pricing for such additional services. Company shall be entitled to compensation as set forth on Exhibit A hereto.
Program Revenues. A. Any Phase 2 revenue generated by the sales of Clipper BayPass to an employer/ institutional customer that was not a customer of an Operator’s Preexisting Institutional Pass Product on either January 1, 2020 or on the Effective Date shall be allocated by MTC amongst the Parties based on actual passenger usage of the Clipper BayPass Phase 2 product at a rate equal to a regular Adult Clipper fare for each trip taken.
B. Any Phase 2 revenue generated by the sales of Clipper BayPass to an employer/ institutional customer that was a customer of an Operator’s Preexisting Institutional Pass Product on either January 1, 2020 or on the Effective Date shall first be allocated to the Operator holding the Preexisting Institutional Pass Product contract with the employer/institutional customer in an amount equal to the cost of the Preexisting Institutional Pass Product for that employer/institutional customer during the current fiscal year at the time. Remaining revenues not allocated to the Operator holding the Preexisting Institutional Pass Product contract will be available to allocate according to the process described in subsection A.
C. Should the Phase 2 revenue be in excess of the amount needed to reimburse Operators under the terms described in Article III, subsections A and B, these additional revenues up to a limit of $1,000,000 or whatever costs were incurred by MTC to establish the Phase 2 program, whichever is less, shall be available to reimburse MTC for the operation and management of the Clipper BayPass Pilot program subject to the approval of the Fare Integration Task Force or any designated successor body. All additional excess revenues, beyond the limit described above, will be allocated to transit operators based on each operator’s share of overall Phase 2 ridership.
D. Should the Phase 2 revenue be insufficient to reimburse Operators under the terms described in Article III, subsections A and B, MTC may use budgeted and MTC Commission approved funds (“revenue backstop”), currently $5,000,000 as of the Effective Date, as an alternative source of funding to reimburse Operators.
E. The project team, consisting of MTC and BART staff, will keep the Fare Integration Task Force or any designated successor body updated on a regular basis on Phase 2 revenues, usage, and interested customers, and MTC will not enter into additional contracts with employer/institutional customers if it is determined by MTC that the $5,000,000 revenue backstop may be insuffi...
Program Revenues. For each of the Company's fiscal years ending on December 31, 1998, 1997 and 1996, none of the Schools have received greater than eighty-five percent
Program Revenues. For each of the Company's fiscal years ending on or before December 31, 1999, 1998, 1997 and 1996, none of the Schools having a separate OPEID number (calculated together with such School's branch campuses, if any) have received greater than eighty-five percent (85%) of such School's respective revenues from programs authorized by Title IV, and for each of the Company's fiscal years ending after December 31, 1998, no greater than ninety percent (90%) of such School's respective revenues from programs authorized by Title IV and each of the Schools having a separate OPEID number (calculated together with such School's branch campuses, if any) satisfies the requirements regarding Title IV program funds established by the DOE as set forth at 34 C.F.R. (S)600.5. The attached Schedule 5.23 contains a correct statement, for ------------- each of the Company's past five (5) complete fiscal years and for the seven (7) month period ended January 31, 2002, of the percentage of revenue from such federal funding sources, calculated in accordance with applicable DOE regulations, for each of the Company's Schools having a separate OPEID number (calculated together with such School's branch campuses, if any).
Program Revenues. Amounts reported as program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions (including special assessments) that are restricted to meeting the operational or capital requirements of a particular function or segment.
Program Revenues. For each of Seller's fiscal years ending on June 30, 1998, 1997 and 1996, none of the Schools have received greater than eighty-five percent (85%) of such School's respective revenues from programs authorized by Title IV or other federal student financial aid funds, and for Seller's fiscal year ending on June 30, 1999, none of the Schools have received greater than ninety percent (90%), of such School's respective revenues from programs authorized by Title IV or other federal student financial aid funds, and each of the Schools satisfies the requirements regarding Title IV program funds established by the DOE as set forth at 34 C.F.R. (S)600.5. The attached Schedule 5.23 contains a correct statement of each ------------- School's percentage of revenue from such federal funding sources.
Program Revenues. The Parties will be mutually responsible for collecting all Program Revenues generated in connection with the Programs and causing such Program Revenues to be deposited into the collecting Party’s respective Program Revenue Account as further described herein.