Common use of Base Payments Clause in Contracts

Base Payments. 1. Subject to the offset and reduction provisions set forth in Section XII, Kroger shall make Base Payments into the Settlement Fund in an amount equal to thirty-eight percent (38%) of the Adjusted State Remediation Payment. The maximum total for Base Payments is $456,000,000. The Base Payments shall be due in installments consistent with Exhibit M- 2 over the eleven (11) Payment Years, subject to potential offsets for Non-Settling States as provided in Section IV.F. 2. The Base Payment for any Settling State in each Payment Year shall be the Base Payment for that Payment Year specified in Exhibit M-2 times the Settling State’s Overall Allocation Percentage specified in Exhibit F.