Maximum Annual Payments Sample Clauses

Maximum Annual Payments. No Annual Payment may exceed the Maximum Amount. For any Year before the Year in which You reach age 90, the Maximum Amount is determined as follows: Maximum Amount = C/F where C is the balance in the Restricted LIF: i) at the beginning of the Year; or ii) if the amount determined in paragraph 1(c)(i) is zero, at the date when the initial amount was transferred into this Restricted LIF; and where F is the value, as at the beginning of the Year, of a pension benefit of which the annual payment is $1, payable on January 1 of each Year between the beginning of that Year and December 31 of the Year in which You reach 90 years of age, established using an interest rate that: iii) for the first 15 Years after January 1 of the Year in which the Restricted LIF is valued, is less than or equal to the monthly average yield on Government of Canada marketable bonds of maturity over 10 Years, as published by the Bank of Canada, for the month of November before the beginning of the Year; and iv) for any subsequent Year, is not more than 6%. In the Year in which You reach age 90 and in all subsequent Years, the Maximum Amount is the value of this Restricted LIF immediately before the time of the payment. For the Year in which this Restricted LIF was opened, the Maximum Amount determined above under paragraph i) or ii) must be multiplied by the number of months remaining in that Year and then divided by 12, with any part of an incomplete month counting as one month. If, when this Restricted LIF was opened, part of the Locked-In Funds included funds that had been held in another Restricted LIF You owned earlier in the Year in which the Restricted LIF was established, the Maximum Amount determined is deemed to be zero in respect of that part of this Restricted LIF for that Year.
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Maximum Annual Payments. No Annual Payment may exceed the “Maximum Amount”, which is the amount determined in accordance with the attached Schedule IV. “Temporary Income” as referred to in the Schedule IV is not permitted from this LIF. Accordingly, those references are inapplicable to this LIF and are to be ignored.
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Maximum Annual Payments. The Annual Payments in each Year may not exceed the amount calculated for that Year according to the following formula (the “Maximum Amount”): Where:
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Maximum Annual Payments. Payments made under this Agreement are not to exceed $200,000.00 annually. During the term of this Agreement, the parties will each provide the other with written quarterly reports detailing the activities undertaken by City and the payments made by HCAOG.
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Maximum Annual Payments. No Annual Payment may exceed the Maximum Amount;
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Maximum Annual Payments. The Annual Payments for each Fiscal Year may not exceed the “Maximum Amount” being the greater of (i) and (ii) as follows: i) the amount calculated using the following formula C In which
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Maximum Annual Payments. The Annual Payment in any Year may not exceed the “Maximum Amount” for that Year, which is to be calculated as follows (subject to the other terms of this Contract and the Pension Rules): Where “C” is the balance of the Locked-In Funds on the first day of the Year, and “F” is the value on the first day of the Year of a guaranteed pension, the annual payment of which is $1 and which is payable on the first day of each Year between the first day of the Year and December 31 of the Year in which the Annuitant will reach age 90. “F” will be calculated at the beginning of each Year using either: i) an interest rate of not more than 6% per Year; or ii) for the first 15 Years after the valuation of the LIF, an interest rate greater than 6% as long as that rate does not exceed the interest rate obtained on long-term bonds issued by the Government of Canada for the month of November preceding the Year in which the calculation is made, as published in the Bank of Canada Review as CANSIM Series B-14013, and an interest rate not exceeding 6% per Year in subsequent Years. If, during the Year in which this LIF is opened, funds are transferred directly or indirectly into this LIF from another LIF, the “Maximum Amount” in the first Year for the amount so transferred is nil (zero).
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Related to Maximum Annual Payments

  • 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. 1. All data relevant to the determination of the Annual Payment and allocations to Settling States and their Participating Subdivisions listed on Exhibit G shall be submitted to the Settlement Fund Administrator no later than sixty (60) calendar days prior to the Payment Date for each Annual Payment. The Settlement Fund Administrator shall then determine the Annual Payment, the amount to be paid to each Settling State and its Participating Subdivisions included on Exhibit G, and the amount of any Settlement Fund Administrator costs and fees, all consistent with the provisions in Exhibit L, by: a. determining, for each Settling State, the amount of base and incentive payments to which the State is entitled by applying the criteria under Section IV.D, Section IV.

  • 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.

  • 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.

  • 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.

  • 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.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Minimum Payments (a) Where the employee is under 45 years of age, the employer shall pay the employee Less than 1 year Nil 1 year and less than 2 years 4 weeks pay 2 years and less than 3 years 7 weeks pay 3 years and less than 4 years 10 weeks pay 4 years and less than 5 years 12 weeks pay 5 years and less than 6 years 14 weeks pay 6 years and over 16 weeks pay. (b) Where the employee is 45 years of age or over, the employer shall pay the employee in accordance with the following scale: Less than 1 year Nil 1 year and less than 2 years 5 weeks pay 2 years and less than 3 years 8.75 weeks pay 3 years and less than 4 years 12.5 weeks pay 4 years and less than 5 years 15 weeks pay 5 years and less than 6 years 17.5 weeks pay 6 years and over 20 weeks pay

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

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