Consideration; Minimum Annual Payment Sample Clauses

Consideration; Minimum Annual Payment. In consideration of the granting by CV of the use of the CVTC by USOPC hereunder, USOPC shall pay to CV a minimum annual payment (the "Minimum Annual Payment") for each year of the Term as follows: Agreement Year Minimum Annual Payment Year 1 (Jan 1 – Dec 31 2017) $3,000,000 Year 2 (Jan 1 – Dec 31 2018) $3,000,000 Year 3 (Jan 1 – Dec 31 2019) $3,000,000 Year 4 (Jan 1 – Dec 31 2020) $3,000,000 Year 5 (Jan 1 – Dec 31 2021) $3,000,000 Year 6 (Jan 1 – Dec 31 2022) $2,200,000 Year 7 (Jan 1 – Dec 31 2023) $1,750,000 Year 8 (Jan 1 – Dec 31 2024) $1,500,000 .The Minimum Annual Payment shall be applied as a credit against the use by USOC of the CVTC at the rates and on the terms set forth on Exhibit F attached hereto (it being expressly acknowledged and agreed however that if the use by USOC of the CVTC pursuant to the rates set forth on Exhibit F attached hereto results in an exhaustion of the entire amount of the Minimum Annual Payment for the applicable year in question, USOC shall be permitted to continue to use the CVTC at the rates and on the terms set forth on Exhibit F attached hereto, and shall pay such rates to CV). For Years 1 through 5, the Minimum Annual Payment shall be made from USOPC to CV in four (4) equal payments as follows (with the Minimum Annual Payment being prorated for any partial year): (1) On January 1 of each year of the Term - $750,000 (for the period January 1 to March 31); (2) On April 1 of each year of the Term $750,000 (for the period April 1 to June 30); (3) On July 1 of each year of the Term - $750,000 (for the period July 1 to September 30); and (4) On October 1 of each year of the Term - $750,000 (for the period of October 1 to December 31). For Years 6 through 8, the Minimum Annual Payment shall be made as follows: USOPC shall make fifty percent (50%) of the Minimum Annual Payment directly to CV (the “USOPC Share”) and the remaining fifty percent (50%) of the Minimum Annual Payment shall be made to City by NGBs (“NGB Share”) that have (i) entered into an agreement with the USOPC to receive funding for use at CVTC and (ii) reserved CVTC Facilities in accordance with the Agreement. In each such agreement between USOPC and an NGB, USOPC shall require that the NGB use funding received thereunder solely for use at CVTC and that any funding not so used by the NGB by the end of the applicable calendar year will be returned to USOPC. Upon return of any such funding to USOPC, USOPC will either (a) immediately remit such funding to CV or...
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Related to Consideration; Minimum Annual Payment

  • Annual Payment During each calendar year, an employee may choose to receive payment for up to twenty (20) hours of accrued vacation leave or compensatory time. Request for payment may be made in November or December of each year. Such payment shall be made during the month of November or December and will be granted only if the employee has taken at least forty (40) hours of vacation/compensatory time during the calendar year. Such payment shall be at the base hourly rate only, no add-ons.

  • PAYMENT TERMS/PRE-PAYMENT/QUANTITY DISOUNTS If discounts for accelerated payment, pre-payment, progress payment, or quantity discounts are offered, they must be clearly indicated in the Contractor’s submission prior to contract award. The applicability or acceptance of these terms is at the discretion of the Customer.

  • Minimum Payment (a) Overtime worked on a Saturday or Sunday will be paid for at the rate of double Ordinary Rates. Employees required to work on a Saturday or Sunday will be afforded a minimum 4 hours work, or be paid as if for 4 hours at the aforementioned overtime rates.

  • Maximum Total Payment Including the reimbursable expenses shown above (if any), the maximum total payment under this Contract is $ ; this is a not-to-exceed amount, and the District will not pay more than this amount unless specifically agreed to in an amendment executed by the parties.

  • Minimum Payment Due Your Minimum Payment Due is listed on your Statement and equals the lesser of: • the amount of your New Balance, or • the greater of: • $30, or • 3% of the amount you owe, or • the sum of Finance Charges accrued since the last Billing Cycle (including Interest Charges and Transaction Fees), plus any Penalty Fees, Annual Fees (if applicable), and one-time fees that have been posted to your Account, plus 1% of the amount you owe. Making only the Minimum Payment Due will increase the amount of interest you pay and the time it takes to repay your balance.

  • Proposed Annual Caps The proposed annual caps for the transactions contemplated under the Packaging Material Supply Master Agreement for the three years ending 31 December 2020 and the five months ending 31 May 2021 are set out below: Year ending 31 December 2018 Year ending 31 December 2019 Year ending 31 December 2020 Five months ending 31 May 2021 Transactions RMB (million) RMB (million) RMB (million) RMB (million)

  • Annual Payments The Settling Distributors shall make eighteen (18) Annual Payments, each comprised of base and incentive payments as provided in this Section IV, as well as fifty percent (50%) of the amount of any Settlement Fund Administrator costs and fees that exceed the available interest accrued in the Settlement Fund as provided in Section V.C.5, and as determined by the Settlement Fund Administrator as set forth in this Agreement.

  • 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:

  • CONTRACT PRICE/PRICE LIMITATION/ PAYMENT 5.1 The contract price, method of payment, and terms of payment are identified and more particularly described in EXHIBIT C which is incorporated herein by reference.

  • Salary Rate Calculation and Payment The biweekly salary rate of employees serving on twelve (12) month (calendar year) appointments shall be calculated by dividing the calendar year salary rate by 26.1 pay periods.

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