Laserfiche WebLink
(d) Less 50 percent revenue share and; <br />(e) Equals net revenue share credit back to City as specified in <br />Section VI. 3 and Section VI. 3.02. <br />(Refer to Exhibit A for hypothetical examples to illustrate and verify <br />this revenue sharinq formula.) <br />3.02 Revenue Bank <br />The Contractor shall carry forward the calculated monthly revenue <br />share "credit" or "shortfall" in a cumulative fashion and will be applied <br />aqainst the previous months' revenue share balance. This <br />cumulative total revenue share "fund account" shall be manaqed <br />accordinq to the followinq requirements: <br />(a) The runninq cumulative total shall be carried forward throuqh <br />December 2012. A full and final report of the City's revenue share <br />fund account shall be submitted by the Contractor by January 15, <br />2013. The City shall then approve this revenue share report. <br />(b) If the cumulative total balance shown in this final revenue <br />share report is positive, the Contractor shall remit to the City any <br />revenue share credit due as indicated by the cumulative total due <br />the City. <br />(c) If at the end of December 2012, the cumulative total is at a <br />negative balance, the Contractor will assume the shortfall with no <br />amount due from the City. <br />(d) Whenever the amount owed the City exceeds $20,000 the <br />Contract shall rebate the excess over the $20,000 to the City <br />auarterly. <br />(Refer to Exhibit B for hypothetical examples to illustrate and verify <br />this revenue sharinq formula.) <br />Each month the Contractor shall calculate the revenue share for all <br />commodities. Those calculations shall be included as part of the <br />Contractor's report to the City. Contractor shall use the following <br />indices in determining the revenue sharing formula: <br />A. Paper grades including newsprint and inserts, <br />magazines, catalogs, and mixed mail shall be: <br />•The Official Board Markets (OBM) Yellow Sheet, <br />Chicago region for Old Newspapers (ONP) # 8, high <br />side of range. <br />B. Old Corrugated Cardboard shall be: <br />•The Official Board Markets (OBM) Yellow Sheet, <br />Chicago region for OCC #11, high side of range. <br />11 <br />