– Guaranteed Minimum Annual Passenger Fees Sample Clauses

– Guaranteed Minimum Annual Passenger Fees. For each Operating Year, Operator guarantees to Wharves payment of the “Annual Guaranteed Payment” which is the product of (x) the Minimum Number of Passenger Movements Per Operating Year guaranteed by Operator (as set forth in Section 1.02), multiplied by (y) the sum of the applicable PUC plus Additional Passenger Wharfage for such Operating Year. Within sixty (60) days after the end of each Operating Year, Wharves shall calculate the payments paid by Operator for such Operating Year based on the Passenger Movements reported in the passenger manifests submitted by Operator, and shall send a written notice to Operator (the “PUC Differential Notice”) setting forth the difference (positive or negative, if any) between the payments paid by Operator for such Operating Year and the Annual Guaranteed Payment for such Operating Year (the “PUC Differential”). If the PUC Differential for any Fiscal Year is a negative amount (a “Shortfall”), Wharves will invoice Operator in an amount equal to the Shortfall. Operator must pay the invoice within thirty (30) days following receipt thereof.
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Related to – Guaranteed Minimum Annual Passenger Fees

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  • MINIMUM ALLOWANCE An employee who is required by his/her Agency/Department Head to use his/her private automobile at least eight days in any month on County business shall not receive less than $10 in that month for the use of his/her automobile.

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  • Minimum Call-Back Time An employee who is called in and required to work outside their regular working hours shall be paid for a minimum of two (2) hours at overtime rates unless the call-in is immediately prior to their normal work day, in which case there should be no minimum.

  • How are Required Minimum Distributions Computed A required minimum distribution (“RMD”) is determined by dividing the account balance (as of the prior calendar year end) by the distribution period. For lifetime RMDs, there is a uniform distribution period for almost all IRA owners of the same age. The uniform distribution period table is based on the joint life and last survivor expectancy of an individual and a hypothetical beneficiary 10 years younger. However, if the IRA owner’s sole beneficiary is his/her spouse and the spouse is more than 10 years younger than the account owner, then a longer distribution period based upon the joint life and last survivor life expectancy of the IRA owner and spouse will apply. An IRA owner may, however, elect to take more than his/her RMD at any time.

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