Annual Adjustment Amount definition

Annual Adjustment Amount has the meaning given in item 4.2 of Schedule 1 (“Support terms”).

Annual Adjustment Amount payable in respect of the Financial Year is calculated as follows: where: AAAFY = the Annual Adjustment Amount for the Financial Year; ANORFY = the Annual Net Operational Revenue for the Financial Year calculated in accordance with item 4.3 (“Calculation of Annual Net Operational Revenue”); ARCFY = the Annual Revenue Ceiling for the Financial Year calculated in accordance with item 4.5 (“Calculation of Annual Revenue Ceiling”); ∑OQPAFY = the sum of all Quarterly Payment Amounts for quarters in the Financial Year payable by Project Operator calculated in accordance with item 3 (“Quarterly Payment Amount”); and ∑CQPAFY = the sum of all Quarterly Payment Amounts for quarters in the Financial Year payable by the Commonwealth calculated in accordance with item 3 (“Quarterly Payment Amount”); and subject to item 4.6 (“Cap on Annual Adjustment Amount”): Project Operator must pay a positive Annual Adjustment Amount to the Commonwealth; and

Annual Adjustment Amount means the aggregate of the following for all of the Quarters of such preceding Fiscal Year: (w) the product of (I) the Applicable Percentage and (II) the Actual Credit Amount for each Quarter, reduced by (x) the Fixed Deferred Payment and the payments under the Base Note made with respect to such Quarter but, in the case of this clause (x) only, not reduced below zero, (y) the Variable Deferred Payment made with respect to such Quarter and (z) capital contributions made by Buyer to the Operating Company with respect to such Quarter. If the Annual Adjustment Amount is a positive amount, such amount will be added to the amount of Buyer's Variable Deferred Payment otherwise due on the Adjustment Date. If the Annual Adjustment Amount is a negative amount, such amount will be used to reduce Buyer's Variable Deferred Payment otherwise due on the Adjustment Date, or if such amount exceeds the amount of Buyer's Variable Deferred Payment otherwise due on such date, the excess amount will be successively credited against Buyer's Variable Deferred Payments as they otherwise become due thereafter. In the event that the actual Tax Credits claimed on the Company's federal income tax return for any such Fiscal Year is different from the Actual Credit Amount for such Fiscal Year as computed pursuant to this Section 2.5(d), an additional adjustment amount will be promptly calculated and applied to adjust Buyer's Variable Deferred Payment in the same manner as described above for the Annual Adjustment Amount.

Examples of Annual Adjustment Amount in a sentence

• In determining the Annual Adjustment Amount, the independent tax counsel or accountants shall take into account any and all taxes (including any penalties and interest) paid by or for the Employee or refunded to the Employee or for the Employee's benefit.

• The Commonwealth will not be required to pay any Annual Adjustment Amount to the extent that the sum of: the Annual Adjustment Amount payable by the Commonwealth; and the sum of the Quarterly Payments Amounts paid by the Commonwealth, in a Financial Year is greater than the Annual Payment Cap.

• As soon as practicable after the Annual Adjustment Amount has been so determined, and in no event more than thirty (30) days after the Annual Adjustment Amount has been so determined, the Company shall pay the Annual Adjustment Amount to the Employee or the Employee shall repay the Annual Adjustment Amount to the Company, as the case may be.

• In the event there is an Annual Adjustment Amount, then the Company's independent tax counsel or accountants shall notify the Company and the Employee of the amount the Employee must pay to the Company or the Company must pay to the Employee in order to put the Employee (or the Company, as the case may be) in the same position the Employee (or the Company, as the case may be) would have been if the Initial Excess Parachute Payment had reflected the Annual Adjustment Amount.

• The Company's independent tax counsel or accountants shall review each calendar year during the Liquidated Damage Period the determination of the Initial Excess Parachute Payment and shall adjust, to the extent necessary and appropriate, the amount payable pursuant to clauses (i) and (ii) of this Section 8(a) (the "Annual Adjustment Amount").

More Definitions of Annual Adjustment Amount

Annual Adjustment Amount has the meaning set forth in Section 2.5(d).

Annual Adjustment Amount payable in respect of the Financial Year is calculated as follows: where: AAAFY = the Annual Adjustment Amount for the Financial Year; ∑CQPAFY = the sum of all Quarterly Payment Amounts for quarters in the Financial Year payable by the Commonwealth calculated in accordance with item 3 (“Quarterly Payment Amount”); and ∑OQPAFY = the sum of all Quarterly Payment Amounts for quarters in the Financial Year payable by Project Operator calculated in accordance with item 3 (“Quarterly Payment Amount”); and subject to item 4.6 (“Cap and other limits on Annual Adjustment Amount”): Project Operator must pay a positive Annual Adjustment Amount to the Commonwealth; and the Commonwealth must pay the absolute value of a negative Annual Adjustment Amount to Project Operator.

Annual Adjustment Amount has the meaning set forth in Section 2.3(d) of each Seller’s Purchase Agreements.

Annual Adjustment Amount for any Annual Period means the amount (which may be positive or negative) equal to (i) the Actual Required Annual Amount for such Annual Period minus (ii) the Net Payment Amount previously paid in connection with such Annual Period, as applicable.

Annual Adjustment Amount has the meaning specified in the Partnership Agreement.

Annual Adjustment Amount payable in respect of the Financial Year is calculated as follows: where: AAAFY = the Annual Adjustment Amount for the Financial Year; ANORFY = the Annual Net Operational Revenue for the Financial Year calculated in accordance with item 4.3 (“Calculation of Annual Net Operational Revenue”); ARCFY = the Annual Revenue Ceiling for the Financial Year calculated in accordance with item 4.5 (“Calculation of Annual Revenue Ceiling”); ∑OQPAFY = the sum of all Quarterly Payment Amounts for quarters in the Financial Year payable by Project Operator calculated in accordance with item 3 (“Quarterly Payment Amount”); and ∑CQPAFY = the sum of all Quarterly Payment Amounts for quarters in the Financial Year payable by the Commonwealth calculated in accordance with item 3 (“Quarterly Payment Amount”); and subject to item 4.6 (“Cap and other limits on Annual Adjustment Amount”): Project Operator must pay a positive Annual Adjustment Amount to the Commonwealth; and

Annual Adjustment Amount as of the end of any fiscal quarter of Spacelabs Delaware means a Dollar amount equal to fifty percent (50%) of the Consolidated Net Income for the period commencing on January 1, 2002 and ending on December 31 of the Fiscal Year immediately preceding the Fiscal Year during which such fiscal quarter occurs (with no deduction for a net loss).