Annual Specified Amount definition
Annual Specified Amount means $400,000 escalated on each Anniversary Date by the percentage by which the CPI last published prior to such Anniversary Date has increased over the CPI last published prior to the grant of the Burswood Casino Licence.
Annual Specified Amount means: —
(a) in relation to the annual period in which the Effective Date occurs the aggregate of:
(i) the same proportion of what but for this sub‑clause would have been the Annual Specified Amount for that period as the proportion which the number of days from and including the Anniversary Date preceding the Completion Date to but excluding the Completion Date bears to 365; and
(ii) the same proportion of ONE MILLION FOUR HUNDRED THOUSAND DOLLARS ($1 400 000.00) as the proportion which the number of days from and including the Completion Date to but excluding the Anniversary Date following the Completion Date bears to 365;
(b) on and from the Anniversary Date following the Completion Date ONE MILLION FOUR HUNDRED THOUSAND DOLLARS ($1 400 000.00) escalated on each Anniversary Date after the Completion Date by the percentage by which the CPI last published prior to such Anniversary Date has increased over the CPI last published prior to the Anniversary Date preceding the Completion Date.
(11) The payment, or if more than one, each payment, to be made pursuant to sub-clause (1)(b) after the Effective Date in respect of the period referred to in sub‑clause (10)(a) shall be adjusted so as to give effect to sub-clause (10)(a) or, if the Effective Date occurs after the date on which the last payment in respect of that period has been made, the additional amount payable by reason of the operation of sub-clause (10)(a) shall be paid by the Trustee within seven (7) days of the Effective Date.
(12) In sub-clauses (10) and (11): —
Annual Specified Amount means the amounts specified below for
More Definitions of Annual Specified Amount
Annual Specified Amount means: —
(a) in relation to the annual period in which the Effective Date occurs the aggregate of:
(i) the same proportion of what but for this sub‑clause would have been the Annual Specified Amount for that period as the proportion which the number of days from and including the Anniversary Date preceding the Completion Date to but excluding the Completion Date bears to 365; and
(ii) the same proportion of ONE MILLION FOUR HUNDRED THOUSAND DOLLARS ($1 400 000.00) as the proportion which the number of days from and including the Completion Date to but excluding the Anniversary Date following the Completion Date bears to 365;
(b) on and from the Anniversary Date following the Completion Date ONE MILLION FOUR HUNDRED THOUSAND DOLLARS ($1 400 000.00) escalated on each Anniversary Date after the Completion Date by the percentage by which the CPI last published prior to such Anniversary Date has increased over the CPI last published prior to the Anniversary Date preceding the Completion Date.