Annual Cap definition

Annual Cap means for any calendar year an amount equal to fifteen percent (15%) of the outstanding principal amount of A Bonds as of January 1 of such calendar year. The Company has the right to reserve up to one-third of this fifteen percent (15%) limit for Bonds redeemed as a result of a Bondholder’s right upon death, disability or bankruptcy as described in the Indenture.

Annual Cap means, (i) the maximum aggregate value of services payable by the group of companies to which KWHK belongs (as principal) under this Agreement and the Other Warehouses Management Agreements, for each of the following periods: the period from the Commencement Date until 31 December 2021, each of the financial years ending 31 December 2022 and 2023, the period from 1 January 2024 to the third anniversary of the Commencement Date, on the one hand, the period from the third anniversary of the Commencement Date to 31 December 2024, each of the financial years ending 31 December 2025 and 2026, and the period from 1 January 2027 to the sixth anniversary of the Commencement Date, on the other hand, and (ii) the maximum aggregate value of services payable to KWHK under this Agreement and the Other Warehouses Management Agreements for each of the following periods: the period from the Commencement Date until 31 December 2021, each of the financial years ending 31 December 2022 and 2023, the period from 1 January 2024 to the third anniversary of the Commencement Date, on the one hand, the period from the third anniversary of the Commencement Date to 31 December 2024, each of the financial years ending 31 December 2025 and 2026, and the period from 1 January 2027 to the sixth anniversary of the Commencement Date, on the other hand, each as set out in the announcement published by Xxxxx Logistics Network Limited on or about the date of this Agreement, a copy of which is annexed herein; and

Annual Cap has the meaning ascribed to it in Section 9.02(e).

Examples of Annual Cap in a sentence

• To the extent KWHK collects gross revenue from tenants on behalf of the Owner and such amounts (after deducting applicable fees, commissions, outgoings and other expenses) are then transferred by KWHK to the Owner (including the Monthly Yield), such amounts are payments from tenants to the Owner for which KWHK has no proprietary interest, and therefore are not subject to the relevant Annual Cap.

• Leju shall provide to SINA a written report on or before the 15th day of November in each Agency Period during the term of this Agreement, setting forth the total List Price (which amount may be equal to, larger, or lower than the Fixed Location Annual Cap of such Agency Period), locations and numbers of the Fixed Location Advertising Inventory that SINA Agent plans to sell in the immediately next Agency Period.

• The Fixed Location Annual Cap, and locations and numbers of Fixed Location Advertising Inventory available in the immediately next Agency Period shall be those as agreed by the Parties in writing.

• Employees shall accrue at the following rate: Hours Worked/Week Annual Cap (for Carry-Over) Calculation for Vacation Hours Earned 37-40 Hours/Week 40 Hours .01924 35-36 Hours/Week 36 Hours .01924 31-34 Hours/Week 33 Hours .01924 29-30 Hours/Week 30 Hours .01924 25-28 Hours/Week 27 Hours .01924 21-24 Hours/Week 24 Hours .01924 20 Hours/Week 20 Hours .01924 Employees shall accrue, but not be able to use, vacation during their initial probationary period.

• Such additional Fixed Location Advertising Location and the Fixed Location Advertising Location of such Agency Period shall be collectively constitute the Fixed Location Advertising Location of such Agency Period provided by SINA to SINA Agents for the next Agency Period, so as to ensure the total List Price of the Fixed Location Advertising Inventory provided by SINA to SINA Agents for the next Agency Period be equal to the Fixed Location Advertising Annual Cap.

More Definitions of Annual Cap

Annual Cap means for any calendar year an amount equal to ten percent (10%) of the outstanding principal amount of Series B Bonds as of January 1 of such calendar year.

Annual Cap shall have the meaning set forth in Section 6.2.3.

Annual Cap the annual cap of RMB1,180 million for the service fees payable

Annual Cap means $1,250,000 for the first payment to any Participant; provided, however, that the Annual Cap shall be adjusted annually (beginning with the second annual payment to the Participant) by the most recent Cost-of-Living Adjustment used by the United States Social Security Administration. Notwithstanding anything else to the contrary, the Annual Cap shall not be increased by more than 2.5% per calendar year.

Annual Cap means for any calendar year an amount up to fifteen percent (15%) of the outstanding principal amount of Bonds as of January 1 of such calendar year, provided, however, the Annual Cap will be further limited to 3.75% of the principal amount of the outstanding Bonds calculated on a quarterly basis as of the first day of the fiscal quarter in which such redemption occurs (the “3.75% Limit”). To the extent that the 3.75% Limit is not fully used in a given quarter, the unused portion shall not be added to the 3.75% Limit for any future quarter, and any redemptions in excess of such limit or to the extent suspended, shall be redeemed in subsequent quarters on a first come, first served, basis.

Annual Cap has the meaning set out in clause 10.2.4.

Annual Cap the annual cap of RMB1,650 million for the service fees under the 2022 Services Framework Agreement;