Reconciliation of Inaccurate Measurements Clause Samples

The Reconciliation of Inaccurate Measurements clause establishes a process for correcting errors or discrepancies in recorded measurements, such as quantities of goods delivered, services rendered, or utility usage. Typically, this clause outlines the steps parties must take to identify, verify, and adjust inaccurate data, often including timeframes for notification and methods for recalculating payments or obligations. Its core function is to ensure fairness and accuracy in contractual dealings by providing a clear mechanism to resolve measurement disputes and prevent ongoing errors from affecting the parties' rights and responsibilities.
Reconciliation of Inaccurate Measurements. In accordance with Section 1.1(a) of this Schedule 8, the Parties shall determine the Wet Sand Weight using the Primary Wet Sand Scales. If the Parties determine that the Primary Wet Sand Scales are inaccurate by more than [***] or are otherwise functioning improperly, Seller shall have a third party measure the stockpiles to ensure that SSS is being invoiced for the correct Wet Sand Weight amount produced during the period for which inaccurate measurements were made (“Inaccurate Period”). Any difference between the amount initially paid by SSS for the Wet Sand Weight produced during the Inaccurate Period and the corrected Wet Sand Weight amount as determined in this Section 1.6 shall be either (i) offset against the amounts that SSS owes to Seller or (ii) paid to Seller in addition to amounts that SSS owes to Seller, in the next invoice issued by the Seller under Article 14 of this Agreement; provided, however, that the Parties shall not make such adjustment for any period prior to the date on which the Primary Wet Sand Scales were last tested and found to be accurate within plus or minus [***] and not otherwise functioning improperly. *** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
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Reconciliation of Inaccurate Measurements. In accordance with Section 1.1(a) of this Exhibit F, the Parties shall determine the Product Sand Weight using the Primary Product Sand Scales. If the Parties determine that the Primary Product Sand Scales are inaccurate by more than two percent (2.0%) or are otherwise functioning improperly, Contractor shall have a third party measure the stockpiles to ensure that SSS is being invoiced for the correct Product Sand Weight amount produced during the period for which inaccurate measurements were made (“Inaccurate Period”). Any difference between the amount initially paid by SSS for the Product Sand Weight produced during the Inaccurate Period and the corrected Product Sand Weight amount as determined in this Section 1.6 shall be either (i) offset against the amounts that SSS owes to Contractor or (ii) paid to Contractor in addition to amounts that SSS owes to Contractor, in the next invoice issued by the Contractor under Article 6 of this Agreement; provided, however, that the Parties shall not make such adjustment for any period prior to the date on which the Primary Product Sand Scales were last tested *** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. and found to be accurate within plus or minus two percent (2.0%) and not otherwise functioning improperly.
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Related to Reconciliation of Inaccurate Measurements

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

  • Statements of Reconciliation after Change in Accounting Principles If, as a result of any change in accounting principles and policies from those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries delivered pursuant to Section 5.1(b) or 5.1(c) will differ in any material respect from the consolidated financial statements that would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial statements in form and substance satisfactory to Administrative Agent;

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • Financial Covenants (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Borrower responsible for carrying out the Project or any part thereof. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association, as soon as available, but in any case not later than six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records, accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account or payment out of the Special Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

  • Specific Financial Covenants During the term of this Agreement, and thereafter for so long as there are any Obligations to Lender, Borrower covenants that, unless otherwise consented to by Lender in writing, it shall: