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Common use of Annual Contribution Clause in Contracts

Annual Contribution. 4.1 The landowner authorises the Minister to retain the annual contribution from each management payment made to the landowner. 4.2 The Minister will, following each management payment, issue the landowner with an invoice confirming that the annual contribution has been deducted from the relevant management payment. 4.3 As contemplated by clause 18 of the BioBanking Regulation, the Minister may waive the annual contribution where: 4.3.1 the owner of the biobank site has not sold any of the biodiversity credits created for the site, or 4.3.2 there are insufficient funds in the biobank site account relating to the biobank site to meet the next scheduled management payment when it becomes payable.

Appears in 6 contracts

Samples: Biobanking Agreement, Biobanking Agreement, Biobanking Agreement