Amount of Annual GBRA Payment Sample Clauses

Amount of Annual GBRA Payment. A. Commencing with the Initial Annual Payment Period and then thereafter for so long as this Contract remains in force and effect, the Annual GBRA Payment shall be an amount not less than one hundred percent (100%) of the Hydro Revenues received by GBRA during the then current Fiscal Year. Further, in the fiscal year next following the construction and GBRA’s acceptance of the Initial Improvements but only for as long as (1) any Bonds that are issued to fund the Initial Improvements remain outstanding, and (2) the Debt Service Requirement on such Bonds remains in effect, the Annual GBRA Payment shall be an amount equal to one hundred percent (100%) of the Hydro Revenues received by GBRA during the then current Fiscal Year but such amount shall not be less than $400,000 (the “GBRA Minimum Payment”), except as provided in Section 5.2(D), (E) and (F) below. In the event the Hydro Revenues, received by GBRA during any Fiscal Year during which the above enumerated GBRA Minimum Payment requirements exist, are less than the GBRA Minimum Payment, then GBRA shall supplement the Hydro Revenues from other monies lawfully available to GBRA so as to ensure that the amount of the Annual GBRA Payment is not less than the GBRA Minimum Payment except as otherwise provided in Section 5.2(D), (E) and (F) below (the “GBRA DS Payment”). Such GBRA DS Payment, if any, shall be combined with GBRA’s monthly Hydro Revenues payment to the WCID that is remitted in the month of August of each Fiscal Year.
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Related to Amount of Annual GBRA Payment

  • Payment of Annual Leave (a) If an employee takes annual leave during a period, the annual leave shall be paid at the employee’s ordinary pay immediately before the period begins.

  • PAYMENT TERMS/PRE-PAYMENT/QUANTITY DISOUNTS If discounts for accelerated payment, pre-payment, progress payment, or quantity discounts are offered, they must be clearly indicated in the Contractor’s submission prior to contract award. The applicability or acceptance of these terms is at the discretion of the Customer.

  • Calculation of Annual Leave Pay Annual leave shall be paid at the employee’s ordinary weekly wage rate for ordinary hours for the period of annual leave (excluding shift allowances and weekend payments but including leading hand allowance); plus an amount equal to 17.5% of the amount

  • Payment Terms – Payment in Arrears A. Invoices are to be submitted in arrears to the user agency/department to the ship- to address, unless otherwise directed in this CONTRACT. Payment will be net 30 days after receipt of an invoice in a format acceptable to the County of Orange and verified and approved by the agency/department and subject to routine processing requirements. The responsibility for providing an acceptable invoice rests with the CONTRACTOR.

  • Payment of Annual Leave on Termination On the termination of their employment, an employee will be paid their untaken or pro-rata annual leave.

  • Reimbursable Expenses; Maximum Total Payment; Invoicing District will make no payment until this Contract is fully executed by the authorized representatives of both parties.

  • Pro Rata Payments Payments to the Holders shall be pro rata with other Holders who purchased Notes in the same oRering, based on the Principal Amount of each such Note. If a Holder receives a payment in excess of his, her, or its pro rata share, the excess shall be deemed to be held in trust for the benefit of other Holders.

  • Shortfall of Annual Working Hours There shall be no pay back for shortfall of annual working hours in the shift systems determined in this Agreement.

  • Payment in Advance (a) You may request to pay your Membership Fees in advance. We, at our sole discretion, reserve the right to accept or deny your request.

  • Maximum Total Payment Including the reimbursable expenses shown above (if any), the maximum total payment under this Contract is $ ; this is a not-to-exceed amount, and the District will not pay more than this amount unless specifically agreed to in an amendment executed by the parties.

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