Annual Minimum Payment definition

Annual Minimum Payment means the minimum calculated amount that must be paid out of the Plan as defined in the Applicable Tax Legislation for the age of the Annuitant or if elected, the Annuitant’s Spouse, except for the first year of the Plan, where the payment is zero.
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Annual Minimum Payment means, for Annual Minimum Periods during the initial term of this Agreement, $100,000. For Annual Minimum Periods during the five-year renewal term of this Agreement permitted under section 2.2, "Annual Minimum Payment" means $100,000, adjusted for inflation occurring between the beginning of the initial term of this Agreement and the beginning of the renewal term in question. Inflation adjustments will be made using the United States Department of Labor Bureau of Labor Statistics Consumer Price Index for All Urban Consumers- Minneapolis-St. Xxxx, MN-WI All Items for the most recent calendar year.
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Annual Minimum Payment means, for each calendar year during the Term (except 2009), $10,000,000 subject to such adjustments as required by Schedule C to this Agreement.
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Examples of Annual Minimum Payment in a sentence

  • For greater clarity, in the event the COD occurs before the RCOD, the Generating Facility Owner shall not be entitled to the Annual Minimum Payment during the period running from COD to the RCOD.

  • The Manager will guarantee the City a total Annual Minimum Payment of $100,000 each year pursuant to §5.1, regardless of performance, and will make $20,000 in aggregate investments into the facility by June 1, 2018.

  • The Transmission Administrator shall be entitled to set off from any amounts on account of the Payment and Annual Minimum Payment, as the case may be, to be credited to the Generating Facility Owner hereunder, any and all amounts owing by the Generating Facility Owner to the Transmission Administrator whether under this Agreement or otherwise.

  • The Work Number Agreement by the terms of the Schedule A obligates each Participating County, through the State as the pass-through entity, to pay the Participating County’s proportionate share of the Annual Minimum Payment as set forth in this Intergovernmental Agreement and Exhibit 1 to the Schedule A.

  • The Eastleigh Borough Local Plan 2011 – 2029 (EBLP 2011 – 2029) was submitted to the Secretary of State for examination on 15 July 2014.

  • FT-IR (ATR) νmax (cm-1): 2956, 2925, 2857, 1681, 1592,1313, 1263, 1170, 1105, 1072, 814, 770, 699.

  • The State shall not be liable for any debt or payment obligation, including the Annual Minimum Payment, incurred by County pursuant to this Contract or the Work Number Agreement, provided, however, that any failure by the State to pass through such payments from County shall constitute a breach of this Contract by the State.

  • Any disputes in respect of amounts on account of the Payments and Annual Minimum Payment shall be resolved in accordance with the provisions of Article 15, however any undisputed amounts shall be credited and uncredited amounts shall be limited to those which are the subject of the dispute.

  • For each Annual Minimum Period, Manager's aggregate commission payment (which does not include CIF payments) to City must total at least the Annual Minimum Payment.

  • Interest on the Annual Minimum Payment shall accrue and be calculated at the Default Interest Rate on the uncredited or unpaid portion from and including the twentieth (20th) Business Day of the first month immediately following the end of the Operating Year for which an Annual Minimum Payment is owing up to and excluding the actual date of credit or payment.


More Definitions of Annual Minimum Payment

Annual Minimum Payment has the meaning given in Clause 14.11 (d)(i);
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Annual Minimum Payment has the meaning assigned to it in Section 5.1.
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Related to Annual Minimum Payment

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

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • 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.

  • Maximum Put Amount means the lesser of (i) Two Hundred Fifty Thousand Dollars ($250,000), or (ii) Two Hundred Fifty percent (250%) of the average of the Dollar Volume for the twenty (20) Trading Days immediately preceding the Put Date.

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

  • Minimum Hire Period means the Minimum Hire Period as described on the invoices, quotation, authority to hire, or any other forms as provided by the Supplier to the Client.

  • Minimum Run Time For all generating units that are not combined cycle units, “Minimum Run Time” shall mean the minimum number of hours a unit must run, in real-time operations, from the time after generator breaker closure, which is typically indicated by telemetered or aggregated State Estimator megawatts greater than zero, to the time of generator breaker opening, as measured by PJM's State Estimator. For combined cycle units, “Minimum Run Time” shall mean the time period after the first combustion turbine generator breaker closure, which is typically indicated by telemetered or aggregated State Estimator megawatts greater than zero, and the last generator breaker opening as measured by PJM’s State Estimator.

  • First Year means the intake group of Students for the most junior class or year in a school.

  • Quarterly Period the period of three months commencing on 1 January, 1 April, 1 July and 1 October.

  • Actual Minimum means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future pursuant to the Transaction Documents, including any Underlying Shares issuable upon exercise in full of all Warrants, without giving effect to any limits on the number of shares of Common Stock that may be owned by a Holder at any one time.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • 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.

  • Year 1 means the year next following the export date and “year” followed immediately by any other numeral has a corresponding meaning; reference in this Agreement to an Act shall include the amendments to such Act for the time being in force and also any Act passed in substitution therefor or in lieu thereof and the regulations for the time being in force thereunder; power given under any clause of this Agreement other than clause 17 hereof to extend any period or date shall be without prejudice to the power of the Minister under the said clause 17; marginal notes shall not affect the interpretation or construction hereof; the phases in which it is contemplated that this Agreement will operate are as follows —

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

  • Maximum Weekly Starts means the maximum number of times that a generating unit can be started in one week, defined as the 168 hour period starting Monday 0001 hour, under normal operating conditions. Member:

  • Minimum Cash Amount shall have the meaning set forth in Section 6.2(iv).

  • Minimum Sale Price means (i) with respect to a Receivable (x) that has become 60 to 210 days delinquent or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has been repossessed by the Servicer and has not yet been sold at auction, the greater of (A) 55% multiplied by the Principal Balance of such Receivable and (B) the product of the three month rolling average recovery rate (expressed as a percentage) for the Servicer in its liquidation of all receivables for which it acts as servicer, either pursuant to this Agreement or otherwise, multiplied by the Principal Balance of such Receivable or (ii) with respect to a Receivable (x) with respect to which the related Financed Vehicle has been repossessed by the Servicer and has been sold at auction and the Net Liquidation Proceeds for which have been deposited in the Collection Account, or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has not been repossessed by the Servicer despite the Servicer’s diligent efforts, consistent with its servicing obligations, to repossess the Financed Vehicle, $1.

  • Earn-Out Period has the meaning set forth in Section 2.6.1.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).