Minimum Annual Fee True-Up Sample Clauses

Minimum Annual Fee True-Up. If the sum of the twelve Monthly Fees (as defined below) from CUSTOMER to PG&E for any calendar year total less than the Minimum Annual Fee for such calendar year, then CUSTOMER shall pay PG&E the excess of (1) the Minimum Annual Fee for such year over (2) the sum of the twelve Monthly Fees for such year ("True-Up Payment"). The True-Up Payment, if applicable, will be due and payable to PG&E within thirty (30) days of PG&E's receipt of the Monthly Fee for December of the applicable year. The twelve Monthly Fees in a calendar year are defined as the Monthly Fee payment pertaining to the month of January of the calendar year (paid in February) through the Monthly Fee payment pertaining to the month of December of the calendar year (paid in January of the succeeding calendar year), inclusive. If the Term does not begin on January I of a calendar year and/or if the Term does not end on December 31 of a calendar year, the Minimum Annual Fee for the applicable calendar year shall be pro-rated accordingly and CUSTOMER will pay PG&E the excess of (l) the pro-rated Minimum Annual Fee for such year over (2) the sum of the Monthly Fees for such year.
Sample 1
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Related to Minimum Annual Fee True-Up

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

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