Annual Payment Cap means, with respect to each CVR that is Outstanding as of the applicable Annual Payment Record Date, an amount equal to (a) twelve million dollars ($12,000,000) divided by (b) the Initial Settlement CVR Amount.
Annual Payment Cap has the meaning given in Schedule 1.
Annual Payment Cap has the meaning given in item 18 of the Reference Details.
Examples of Annual Payment Cap in a sentence
Annual Payment Cap [Drafting note: the shortlisted Proponent is required to provide this information as part of its Financial Value Bid in Stage B of the Tender Process.] The Annual Payment Cap in respect of a Support Year is: (a) for the first Support Year $[insert]; (b) for the second Support Year $[insert]; (c) for the third Support Year $[insert]; (d) for the fourth Support Year $[insert]; and (e) [insert further rows to reflect the Support Period] $[insert];.
The Quarterly Payment for each Quarter of a Support Year (other than the last Quarter) is calculated as follows: Bq = HSY / 4 Where: Bq = the Quarterly Payment for the relevant Quarter; and HSY = the Annual Payment Cap for the relevant Support Year.
More Definitions of Annual Payment Cap
Annual Payment Cap means Seven Million Dollars ($7,000,000.00) in each Contract Year.
Annual Payment Cap means, with respect to a particular Annual Period, the amount set forth for such Annual Period on Annex B, as applicable.