Annual Payment Obligation Clause Samples

Annual Payment Obligation. The Student's Annual Payment Obligation for the current year shall be calculated as follows:

Annual Payment Obligation. The Annual Payment Obligation is the Payment Percentage multiplied by the Student's Annual Personal Income for a given Year (adjusted proportionally in years where the Term covers only a portion of the year).

Annual Payment Obligation. Make individual annual payment to EMS as described herein to fund the operations and equipment purchases needed to effectively operate EMS. Invoices for each payment shall be issued by EMS as follows: for January 1 through June 30, 2024 (6-month amount) due the first week of January 2024; for July 1 through December 31, 2024 (6-month amount) due the first week of July 2024 and thereafter due annually the first week of January. The fee shall be the total of the applicable stand by fee based on population plus a prorated portion of a Two Hundred Thousand and 00/100 Dollars ($200,000.00) fee paid based on the designated percentage of the overall EMS area population listed below.

Annual Payment Obligation. Make individual annual payment to EMS as described herein to fund the operations and equipment purchases of equipmentneeded to effectively operate EMS. Invoices for the annualeach payment for each municipality will beshall be issued by EMS as follows: for January 1 through June 30, 2024 (6-month amount) due the first week of January 2024 and thereafter due annually the first week of July and will. The fee shall be effective for each of the three yearstotal of the contract (until 3/31/2021) and shall be:applicable stand by fee based on population plus a prorated portion of a Two Hundred Thousand and 00/100 Dollars ($200,000.00) fee paid based on the designated percentage of the overall EMS area population listed below. YEAR 1 YEAR 2 YEAR 3Tier Population Percentage Bellevue Township $ 2,917 $ 2,917 $ 2,917Tier 4 Brookfield Township $ 2,786 $ 2,786 $ 2,786Tier 4 Carmel Township $ 5,471 $ 5,471 $ 5,471Tier 3 Charlotte, City of $ 35,522 $ 35,522 $ 35,522Tier 1 ▇▇▇▇▇▇▇ Township $ 3,564 $ 3,564 $ 3,564Tier 4 ▇▇▇▇▇ Rapids, City of $ 13,938 $ 13,938 $ 13,938Tier 2 ▇▇▇▇▇ Rapids Township $ 6,060 $ 6,060 $ 6,060 Tier 3 9.5% 9,332.5% ▇▇▇▇▇▇ Township $ 4,492 $ 4,492 $ 4,492Tier 3

Annual Payment Obligation. (a) If in the first Contract Year the difference between ATOPQ and quantity of Gas offtaken by Buyer during the Contract Year is positive, such quantity of Gas shall be called “AGNT Quantity”. The GHV to be applied to convert the AGNT Quantity calculated in SCM to MMBTU shall be arithmetic average of the GHV during the Contract Year. Buyer shall pay to the Seller an amount equal to the AGNT Quantity multiplied by arithmetic average of the Sales Gas Price during the Year (“AGNT Amount”). And shall be adjusted by way of a debit note issued along with applicable sales tax liability. The rate of exchange to be applied to convert the AGNT amount calculated in USD to INR shall be as per Clause 10.5. The value arrived at (after the adjustment) would be treated as the actual amount receivable towards the supply of Gas to the Buyer. (b) If during the Contract Year, the Buyer has off taken Gas quantities equal to or greater than ATOPQ, then no AGNT Amount will be charged to the Buyer.

Annual Payment Obligation. Make individual annual payment to EMS as described herein to fund the operations and equipment purchases needed to effectively operate EMS. Invoices for each payment shall be issued by EMS as follows: for January 1 through June 30, 2024 (6-month amount) due the first week of January 2024 and thereafter due annually the first week of July. The fee shall be the total of the applicable stand by fee based on population plus a prorated portion of a Two Hundred Thousand and 00/100 Dollars ($200,000.00) fee paid based on the designated percentage of the overall EMS area population listed below. Bellevue Township Tier Tier 4 Population Percentage 4.5% Kalamo Township Tier 4 4.2%* Olivet, City of Tier 2 4.0%** Sunfield Township Tier 4 3.6%

Annual Payment Obligation. Make individual annual payment to EMS as described herein to fund the operations and equipment purchases needed to effectively operate EMS. Invoices for each payment shall be issued by EMS as follows: for January 1 through June 30, 2024 (6-month amount) due the first week of January 2024; for July 1 through December 31, 2024 (6-month amount) due the first week of July 2024 and thereafter due annually the first week of January. The fee shall be the total of the applicable stand by fee based on population plus a prorated portion of a One Hundred Eighty One Thousand, Two Hundred Fifty Two and 00/100 Dollars ($181,252.00) fee paid based on the designated percentage of the overall EMS area population listed below. Bellevue Township Tier Tier 4 Population Percentage 4.81% Kalamo Township Tier 4 4.48%** Olivet, City of Tier 4 4.26% **Kalamo Township stand by fee is 50% since also use Vermontville Tiered Stand-by Fee based on population: Tier 1 population over 7,501: $25,000 Tier 2 population between 5,001 and 7,500: $20,000 Tier 3 population between 2,001 and 5,000: $15,000 Tier 4 population under 2,000: $10,000 The annual payment amount described above (both the stand-by fee and the population- based fee) will increase each year of the Agreement in the amount of five percent (5%) over the prior year. Payments shall be due within 60 days of invoice by EMS. Interest shall accrue and be paid to EMS at a rate of five percent (5%) simple interest on the amount of any payment that is delinquent from the time it was initially due until it is actually paid. .