Annual GBRA Payment definition

Annual GBRA Payment means the aggregate of twelve (12) monthly payments to be made by GBRA to the WCID in accordance with the terms of Article V of this Contract.
Sample 1Sample 2Sample 3
Annual GBRA Payment means the annual payment to be made by GBRA to the WCID in accordance with the terms of Article V of this Contract.
Sample 1Sample 2Sample 3

Examples of Annual GBRA Payment in a sentence

  • Subject to the provisions of this Section 5.2, while this Contract is in force and effect but while (1) no Bonds to fund the Initial Improvements are outstanding, and (2) no related Debt Service Requirement is in effect, GBRA shall remit to the WCID an Annual GBRA Payment equal to all Hydro Revenues received in that Fiscal Year.

  • GBRA shall tender the Annual GBRA Payment to the WCID in monthly installments.

  • Therefore, the obligation of GBRA to tender that portion of the Annual GBRA Payment related to receipts under a Hydroelectric Sales Agreement to the WCID each year from sources as set forth in this Article is conditioned on the existence of a Hydroelectric Sales Agreement being in full force and effect.

  • The Annual GBRA Payment installments shall commence contemporaneously with the first month of the Initial Annual Payment Period.

  • In the event the Hydro Revenues, received by GBRA during any Fiscal Year during which the above enumerated GBRA Minimum Payment requirements exist, are less than the GBRA Minimum Payment, then GBRA shall supplement the Hydro Revenues from other monies lawfully available to GBRA so as to ensure that the amount of the Annual GBRA Payment is not less than the GBRA Minimum Payment except as otherwise provided in Section 5.2(D), (E) and (F) below (the “GBRA DS Payment”).

  • Commencing with the Initial Annual Payment Period and then thereafter for so long as this Contract remains in force and effect, the Annual GBRA Payment shall be an amount not less than one hundred percent (100%) of the Hydro Revenues received by GBRA during the then current Fiscal Year.

  • With respect to GBRA, the audit shall include all Debt Service Costs, Operation and Maintenance Expenses, Budgeted as well as Non-Budgeted CRR Costs, all Hydro Revenues collected by GBRA during its Fiscal Year and all sums remitted to the WCID related to the Annual GBRA Payment.

  • The Annual GBRA Payment shall be used by the WCID for any lawful purpose including the funding of all or a portion of the payment of the Annual Requirement for the Annual Payment Period; provided, however, to the extent the Annual 1 Note to Draft: GBRA Minimum Payment in the event of a reduction of hydroelectric revenues under discussion among the parties.

  • In the event the Hydro Revenues received by GBRA during the 12 month period are less than the GBRA Minimum Payment, then GBRA shall supplement the Hydro Revenues from other monies lawfully available to GBRA so as to ensure that the amount of the Annual GBRA Payment is not less than the GBRA Minimum Payment except as otherwise provided in Section 5.2(C) and (D) below.

  • For so long as any Bonds remain outstanding and the Debt Service Requirement remains in effect, the Annual GBRA Payment shall be an amount equal to all Hydro Revenuesreceived by GBRA during the twelve (12) month period expiring ninety (90) days prior to the commencement of the GBRA Fiscal Year.

Related to Annual GBRA Payment

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive's Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive's target annual incentive bonus for the year in which the Date of Termination occurs.

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Payout Amount means the vested portion of the Final Amount expressed as an amount of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend Equivalents.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • LWDA PAGA Payment means the 75% of the PAGA Penalties paid to the LWDA under Labor Code section 2699, subd. (i).

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Earn-Out Payment has the meaning set forth in Section 2.07(a)(i).

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • Delta Payment means as it is described in this Agreement.

  • Option Payment shall have the meaning set forth in Section 3.4.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.