ANNUAL CONTRACT FEE Sample Clauses

ANNUAL CONTRACT FEE. (a) The Annual Contract Fee is thirty dollars ($30.00). The Annual Contract Fee shall be deducted from the value of each Participant's Individual Account on the last business day of each Participant's Contract Year. However, if the value of the Participant's Individual Account is distributed in full at any time before the last business day of the Participant's Contract Year, the Annual Contract Fee charge shall be deducted from the proceeds of such distribution. (b) No deduction for the Annual Contract Fee shall be made from a Participant's Individual Account during the Annuity Period under the Contract. The Annual Contract Fee shall also not be applied to any distribution which is on account of a Participant's: (1) death, (2) disability within the meaning of Code section 72(m)(7), provided such disability would entitle the Participant to receive social security disability benefits, (3) long term confinement in an officially recognized nursing home or hospital, provided the Participant's confinement in the hospital or nursing home is prescribed by a physician and such confinement is for at least ninety (90) days, (4) separation from service on or after the fifth Participant's Contract Year, provided the Participant has attained age 59 1/2, or (5) hardship, as described in Section 5.2(e) of the Contract, other than hardship resulting from the purchase of a principal residence, as described in Section 5.2(e)(1)(B) of the Contract and a hardship resulting from the payment of tuition, related educational fees, and room and board expenses as described in Section 5.2(e)(1)(C) of the Contract. Paragraphs (1) through (5) above are further subject to the requirements of Section 5 or 8 of the Contract, whichever is applicable.
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ANNUAL CONTRACT FEE. The Annual Contract Fee, stated in the Data Section, is deducted from the Contract Value on the Date of Issue and on each Contract Anniversary on which the Contract Value is less than $50,000. RIDER CHARGES. Rider Charges for riders attached to this contract are stated in the Data Section, and are deducted as described in the riders. The Annual Contract Fee and Rider Charges shall be allocated among and deducted from all accounts on a pro rata basis. TAX CHARGE. We reserve the right to deduct any charge for taxes or amounts set aside as a reserve for taxes in determining the Net Investment Factor in the event that such a tax is levied on that Sub-Account in the future.
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ANNUAL CONTRACT FEE a In consideration of the rights, privileges and interests granted by the PHTPB to the Operator in terms of this Contract, the Operator shall pay to the PHTPB an Annual Contract Fee, starting after the issuance of the Implementation Certificate. However the Annual Contract Fee shall be due from the Compliance Date. The Annual Contract Fee shall be increased @ 15% from the beginning of the 4th year and subsequently, the same increase shall be affected after every 3 (three) years, over the previous Annual Contract Fee.
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Related to ANNUAL CONTRACT FEE

  • CONTRACT FEE An annual charge for administration expenses made on each contract anniversary prior to the Maturity Date.

  • Monthly Fee The fee for the parking spaces shall be $ per month for parking space(s). each all

  • Base Fee The Company shall pay to the Advisor a quarterly base fee (the “Base Fee”) payable in arrears in cash, for services provided by the Advisor in the preceding quarter. For purposes of this Agreement, the “Base Fee” will be equal to 0.70% per annum of the Total Market Capitalization of the Company, subject to the payment of a minimum quarterly base fee (“Minimum Base Fee”), if applicable. For purposes of this Agreement, “Total Market Capitalization” shall be calculated on a quarterly basis as (i) the average of the volume-weighted average price per share of Ashford Prime’s common stock for each trading day of the preceding quarter multiplied by the average number of shares of Ashford Prime’s common stock outstanding during such quarter, on a fully-diluted basis (assuming all common units and long term incentive partnership units in the Operating Partnership which have achieved economic parity with common units in the Operating Partnership have been converted to common stock in the Company), plus (ii) the quarterly average of the aggregate principal amount of the Company’s consolidated indebtedness (including the Company’s proportionate share of debt of any entity that is not consolidated but excluding the Company’s joint venture partners’ proportionate share of consolidated debt), plus (iii) the quarterly average of the liquidation value of the Company’s outstanding preferred equity. The Minimum Base Fee for each quarter will be equal to the greater of (i) 90% of the Base Fee paid for the same quarter in the prior year and (ii) the G&A Ratio multiplied by the Company’s Total Market Capitalization. For purposes of this Agreement, the “G&A Ratio” will be calculated as the simple average of the ratios of total general and administrative expenses, less any non-cash expenses but including any dead deal costs, paid in the applicable quarter by each member of a select peer group set forth in Exhibit A (each, a “Peer Group Member” and collectively, the “Peer Group”), divided by the total enterprise value of such Peer Group Member (calculated in the same manner as the Company’s Total Market Capitalization). The G&A Ratio for each Peer Group Member will be calculated based on the financial information presented in such Peer Group Member’s Form 10-Q or 10-K periodic filings with the SEC following the end of each quarter. The Peer Group may be modified from time to time by mutual written agreement of the Advisor and a majority of the Independent Directors, negotiating in good faith. The Base Fee, as calculated above, shall be payable in arrears no later than the 15th day following the end of each quarter (i.e., one-fourth of 0.70% of the Total Market Capitalization of the Company). The Minimum Base Fee shall be calculated as soon as practicable following the end of the quarter, and to the extent the Minimum Base Fee exceeds the Base Fee paid to the Advisor with respect to any quarter, the Company will pay the Advisor the difference between Minimum Base Fee and the Base Fee within 5 business days of final calculation of the Minimum Base Fee. For purposes of payment of the Base Fee for a partial quarter relating to the first quarter in which this Agreement is effective or for the last quarter in which this Agreement is terminated, the Base Fee shall be calculated as 0.70% of the Total Market Capitalization of the Company, calculated using each trading day of such partial quarter prior to termination, multiplied by the number of days in the applicable quarter in which this Agreement is in effect divided by 365 or 366 days, as applicable. The Minimum Base Fee shall be similarly reduced proportionately based on the number of days in the applicable quarter in which this Agreement is in effect divided by 365 or 366 days, as applicable.

  • Annual Base Rent Commencing on the Rent Commencement Date, and thereafter during the Term, Tenant shall pay annual base rent in the amounts set forth immediately below (the "Annual Base Rent"), which amounts shall be payable in equal monthly installments (the "Monthly Base Rent") as set forth immediately below: All installments of Monthly Base Rent shall be payable in advance, on the Rent Commencement Date and the first day of each calendar month thereafter during the Term. If the Rent Commencement Date shall be a day other than the first day of a calendar month, (1) the Annual Base Rent for the first Lease Year shall be an amount equal to the sum of (x) the amount of Monthly Base Rent for the partial month in which the Rent Commencement Date occurs, plus (y) the amount of the Annual Base Rent for the first Lease Year set forth in the rent chart above, and (2) Monthly Base Rent for such partial month shall be the prorated amount of the Monthly Base Rent payable hereunder during the first Lease Year, which proration shall be based upon the actual number of days of such partial month. The prorated Monthly Base Rent for such partial month shall be payable on the first day of the calendar month after the month in which the Rent Commencement Date occurs. As used in this Lease, the term "Lease Year" means (A) with respect to the first Lease Year, the twelve (12) full calendar month period commencing on the Rent Commencement Date (plus the number of days in any partial first month if the Rent Commencement Date is not the first day of the month), except that if the Rent Commencement Date is a date earlier than May 1, 2012, then the first Lease Year shall commence on the Rent Commencement Date and shall expire on April 30, 2013, and (B) with respect to the second Lease Year and each subsequent Lease Year thereafter, each successive period of twelve (12) full calendar months following the expiration of the first Lease Year.

  • Annual Fee As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee (the “Annual Fee”) with respect to each Annual Period prior to the termination of the Issuer, in an amount equal to $5,000.

  • Up-Front Fee The Borrowers shall pay to the Agent an up-front fee in the amount and at the times agreed in a Fee Letter.

  • Monthly Salary The words “monthly salary” when used in this Agreement shall mean: (Bi-weekly pay at regular rate of pay times 26.1) divided by 12 = monthly salary

  • Monthly Base Rent With respect to any Payment Date and any Lease Vehicle (other than a Lease Vehicle with respect to which the Disposition Date occurred during such Related Month), the “Monthly Base Rent” with respect to such Lease Vehicle for such Payment Date shall equal the pro rata portion (based upon the number of days in the Related Month with respect to such Payment Date that were included in the Vehicle Term for such Lease Vehicle) of the Depreciation Charge for such Lease Vehicle as of the last day of such Related Month calculated on a 30/360 day basis.

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5. The Minimum Monthly Rent shall be increased as set forth in Section 1.5 and/or elsewhere in this Lease. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, and before the Commencement Date, Tenant shall pay to Landlord the aggregate of the first month’s Minimum Monthly Rent, the first month’s Monthly Impound Payment (see Section 4.4), and the Security Deposit (see Section 5).

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $550,000 per annum (as increased from time to time, the “Annual Base Salary”), which shall be paid in accordance with the customary payroll practices of the Company. Such Annual Base Salary shall be reviewed (and may be increased, but not decreased) from time to time by the Board or an authorized committee of the Board.