Annual Minimum Payment Sample Clauses

Annual Minimum Payment. (a) Subject to this Article 5 and any early termination of this Agreement, commencing on the RCOD for the Accepted Credit Capacity and terminating on the 20th anniversary of the RCOD, the Generating Facility Owner shall be entitled each Operating Year to a payment where the Facility is not Dispatched by the System Controller for the Annual Minimum Hours during an Operating Year as set out in Schedule 4 (the “Annual Minimum Payment”). For greater clarity, in the event the COD occurs before the RCOD, the Generating Facility Owner shall not be entitled to the Annual Minimum Payment during the period running from COD to the RCOD.
Sample 1
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Annual Minimum Payment. (a) Subject to this Article 5 and any early termination of this Agreement, commencing on the RCOD for each AcceptedTranche of Credit Capacity and EUB Decision 2002-031 (April 30, 2002) EAL-VALLEYVIEW TMR Appendix 3 Page 13 of 53 terminating on the 20th anniversary of theeach such RCOD, the Generating Facility Owner shall be entitled each Operating Year to a payment where the Facility is not Dispatched by the System Controller for the Annual Minimum Hours during an Operating Year as set out in Schedule 4 (the “Annual Minimum Payment”). For greater clarity, in the event the COD occurs before the RCOD, the Generating Facility Owner shall not be entitled to the Annual Minimum Payment during the period running from COD to the RCOD.
Sample 1
Annual Minimum Payment. (a) Three (3) years following the date of the First Commercial Sale, and each and every Calendar Year thereafter (during the term of this Agreement), the Licensee agrees to pay and shall pay to UT an annual minimum payment (“AMP”) of [] dollars ($[]).
Sample 1
Annual Minimum Payment. KM and Customer are entering into this Agreement in conjunction with the execution of that certain Shipper’s Agreement by and between Customer, as shipper, and Central Florida Pipeline LLC, (“Central”), as carrier, providing for the transportation of Commodity from KM’s Tampa Terminal to Central’s Xxxx Terminal (the “Shipper’s Agreement”). Customer estimates that the volume to be handled during a Contract Year through the KM Tampa facility will be approximately 900,000 U.S. Barrels with approximately 750,000 U.S Barrels being transported by Central by way of the CFPL to Central’s Xxxx Terminal (jointly, the “Estimated Volumes”). Customer agrees that it will pay, each Contract Year, minimum combined payments to KM and Central of not less than $1,532,000 in the aggregate (“Annual Minimum Payments”) for KM’s handling of Customer’s Commodity at the KM Tampa facility and Central’s transportation of Commodity from the KM Tampa Facility to the Central Xxxx Terminal; provided, that, should KM and Central refuse or be unable to provide the services necessary to handle the Estimated Volumes, this Annual Minimum Payment amount shall be reduced in proportion to the ratio of the volume of Commodity not so handled to the volume of Commodity tendered by Customer for handling. Should payments made by Customer during a Contract Year be less than the Annual Minimum Payments amount, KM and/or Central shall invoice Customer and Customer shall pay, in accordance with the terms of Section 6, the difference between the annual amounts paid pursuant to this Agreement and the Shipper’s Agreement and the Annual Minimum Payments (“True-up Payment”). KM and Central shall allocate amongst themselves, in their discretion, any True-up Payments.
Sample 1
Annual Minimum Payment. Failure of IDT to fulfill its requirement to purchase the minimum number of HTs and HT Treatment Kits in any Minimum Year shall not constitute an event of default under this Agreement so long as IDT pays HCI a sum equal to the Annual Minimum for the Minimum Year not later than forty-five (45) days following the close of said Minimum Year.
Sample 1
Annual Minimum Payment. During the initial 20 year Term of this Lease, Tenant shall pay to Landlord the minimum sum which is the equivalent of the Royalty that would be paid for eight hundred thousand (800,000) tons of Sand (initially Four Million and No/100 Dollars ($4,000,000.00) at Five and No/100 Dollars ($5.00) per ton) as a required minimum payment during each Lease Year of Four Million and No/100 Dollars ($4,000,000.00) (the “Annual Minimum Payment”). The Annual Minimum Payment shall be paid in quarterly installments. Once Tenant has paid to Landlord Royalty payments and/or payments of the Annual Minimum Payment during any Lease Year equal to or in excess of the amount of the Annual Minimum Payment, no further payments of the Annual Minimum Payment shall be due during that Lease Year, For the Initial Lease Year, the Annual Minimum Payment shall be prorated for the period of time from the Effective Date of this Lease to the end of the Initial Lease Year and paid in equal monthly installments on or before the first (1st) of each month during the Initial Lease Year. Beginning in the first renewal term, the Annual Minimum Payment shall be a sum equal to the average West Texas Intermediate index price of crude oil times the amount of $114,285.71 (together with the adjustments provided in Section 2.8) on an annual basis. The Annual Minimum Payment shall be adjusted on a quarterly basis and shall be based on the average price of crude oil for the previous calendar quarter. Notwithstanding the foregoing, the Annual Minimum Payment shall never be less than $4,000,000 per renewal term.
Sample 1
Annual Minimum Payment. Subject to subparagraph 5(d), after 5,000 cumulative gross ounces of fine gold has been produced from the Chandalar placer mine after Option exercise, NyacAU shall be entitled to a minimum annual payment equal to the value of $120,000 or 68 fine gold ounces (Minimum Payment), whichever is greater according to the afternoon LBMA Price on December 31 of that year. In the event there was insufficient placer gold produced during that calendar year to meet the Minimum Payment threshold, the cumulative value of all production distributions made to NyacAU in that calendar year, as valued according to the afternoon LBMA Price on the date of payment, shall be credited against the Minimum Payment amount and any difference shall be paid in cash, valued in gold ounces based on the afternoon LBMA Price on December 31 of that year, by Transferee by January 15 of the following year. Each such payment shall apply towards the satisfaction of the Maximum Amount. Notwithstanding this subparagraph 5(b), the Minimum Payment shall not be required for any calendar year in which the LBMA Price goes below $1,200 per ounce at any time during that calendar year. For purposes of this Agreement, “calendar year” shall mean the year beginning January 1 and ending December 31. Similarly, notwithstanding this subparagraph (5)(b), no minimum payment shall be due if mining operations cease. For purposes of this subparagraph 5(b), the term “cease” shall mean that no further mining operations will be conducted in any future mining seasons, and the only work to be conducted at the Chandalar placer mine shall only be for purposes of reclamation. In no way shall this provision be construed to permit a future placer mining operator to take a year off from mining and resume future mining operations thereafter absent the minimum yearly payment being made to NyacAU.
Sample 1
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Annual Minimum Payment. If the total monthly Concession Fees paid to the City based on the percentage of Adjusted Gross Sales accumulated through December is less than $25,000, then SPR will invoice Concessionaire the balance due in the December sales invoice sent in January. • If SPR determines in its sole discretion that the annual minimum sales of $25,000 were not reached due to partial year’s operation caused by system wide SPR facility closures or commencement or expiration of agreement, SPR will adjust the annual minimum of $25,000 by the percentage of months that SPR determines the Concessionaire was not able to operate.
Sample 1

Related to Annual Minimum Payment

  • Minimum Payments If the Executive’s Termination Date occurs during the Agreement Term for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 (other than this paragraph 5(a)) or the express terms of any employee benefit plan or as required by law:

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • Maximum Payments Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Borrower to the Holder and thus refunded to the Borrower.

  • Quarterly Bonus The Employee shall be eligible to be paid a quarterly bonus earned in accordance with the terms set forth on Exhibit 3.2.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Minimum Sales 4.1 The minimum volume of sales of the Products that CSR commits to use its best efforts to achieve in the Territory on an annual basis in the first Agreement Year is 60,000 gallons (avg. 5,000 gallons per month). RCAI will review the annual volumes of sales of the Products prior to the beginning of any successive term during which this Agreement may continue and RCAI may change and adjust such minimums as it, in its sole judgment, sees fit.

  • Quarterly Payments H3.15 The quarterly payment cannot be increased in cases of target over-achievement. The payments are given on cumulative outputs, in arrears, and therefore the maximum payment available will be given by the end of the Contract if the agreed (target) number of outputs is reached or exceeded.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

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