Common use of Annual Adjustment Clause in Contracts

Annual Adjustment. An adjustment shall be made at the end of each Agreement Year so that Licensee's payment for the Agreement Year is the greater of the MAG for that year or ten percent (10%) of Licensee's Gross Revenue for that year. Any credit to which Licensee is entitled as a result of the adjustment shall be credited against the annual installment of the License Fee for the first month of the following Agreement Year, except that any credit to which Licensee is entitled at the end of the final Agreement Year shall be paid by the County within 30 calendar days after the County receives Licensee's final monthly Statement of Gross Revenue with License Fee Computation.

Annual Adjustment. An adjustment shall be made at the end of each Agreement Year so that Licensee's payment for the Agreement Year is the greater of the MAG for that year or ten percent (10%) of Licensee's Gross Revenue for that year. Any credit to which Licensee is entitled as a result of the adjustment theadjustment shall be credited against the annual installment of the License Fee for the first month of the following Agreement Year, except that any credit to which Licensee is entitled at the end of the final Agreement Year shall be paid by the County within 30 calendar days after the County receives Licensee's final monthly Statement of Gross Revenue with License Fee Computation.

Annual Adjustment. ‌ An adjustment shall be made at the end of each Agreement Year so that Licensee's payment for the Agreement Year is the greater of the MAG for that year or ten percent (10%) of Licensee's Gross Revenue for that year. Any credit to which Licensee is entitled as a result of the adjustment theadjustment shall be credited against the annual installment of the License Fee for the first month of the following Agreement Year, except that any credit to which Licensee is entitled at the end of the final Agreement Year shall be paid by the County within 30 calendar days after the County receives Licensee's final monthly Statement of Gross Revenue with License Fee Computation.