Common use of Annual Payment Clause in Contracts

Annual Payment. (a) Subject to clause 9.3(b) and clauses 9.7 and 9.11, on each Payment Date, the Performing Subsidiary must pay to the Trustee an amount equal to the lesser of: (i) the Annual Contribution Amount for that Payment Date plus, for the Payment Date falling on 1 July 2007, $7.7 million; and (ii) whichever is the greater of: (A) the amount equal to the Free Cash Flow Amount for that Payment Date multiplied by the Qualifying Capital Ratio applicable at that time; and (B) zero, less, in respect of the Payment Date falling on 1 July 2007, $7.7 million. (b) If the amount calculated under clause 9.3(a) in respect of a Payment Date (as adjusted by clause 9.14(b)) is a negative amount and JHISE Notifies the Trustee that this clause 9.3(b) should apply, on that Payment Date the Trustee must pay the absolute value of that negative amount to the Performing Subsidiary or to such other entity nominated by the Performing Subsidiary.

Annual Payment. (a) Subject to clause 9.3(b) and clauses 9.7 and 9.11, on each Payment Date, the Performing Subsidiary must pay to the Trustee an amount equal to the lesser of: (i) the Annual Contribution Amount for that Payment Date plus, for the first Payment Date falling on 1 July 2007after the Commencement Date, $7.7 million; and (ii) whichever is the greater of: (A) the amount equal to the Free Cash Flow Amount for that Payment Date multiplied by the Qualifying Capital Ratio applicable at that time; and (B) zero, less, in respect of the Payment Date falling on 1 July 2006, $14.7 million and in respect of the Payment Date falling on 1 July 2007, $7.7 million. (b) If the amount calculated under clause 9.3(a) in respect of a Payment Date (as adjusted by clause 9.14(b)) is a negative amount and JHISE JHINV Notifies the Trustee that this clause 9.3(b) should apply, on that Payment Date the Trustee must pay the absolute value of that negative amount to the Performing Subsidiary or to such other entity nominated by the Performing Subsidiary.

Annual Payment. (a) Subject to clause 9.3(b) and clauses 9.7 and 9.11, on each Payment Date, the Performing Subsidiary must pay to the Trustee an amount equal to the lesser of: (i) the Annual Contribution Amount for that Payment Date plus, for the Payment Date falling on 1 July 2007, $7.7 million; and (ii) whichever is the greater of: (A) the amount equal to the Free Cash Flow Amount for that Payment Date multiplied by the Qualifying Capital Ratio applicable at that time; and (B) zero, less, in respect of the Payment Date falling on 1 July 2007, $7.7 million. (b) If the amount calculated under clause 9.3(a) in respect of a Payment Date (as adjusted by clause 9.14(b)) is a negative amount and JHISE JHI Notifies the Trustee that this clause 9.3(b) should apply, on that Payment Date the Trustee must pay the absolute value of that negative amount to the Performing Subsidiary or to such other entity nominated by the Performing Subsidiary.