Minimum Annual Guaranteed Fee Sample Clauses

Minimum Annual Guaranteed Fee. ‌ The MAG shall commence on the first day of the month following the DBO of the last concession location. For the first Lease Year the MAG will be $[Enter Amount], payable in equal monthly installments of $[Enter Amount]. Thereafter, for the 2nd Lease Year, the MAG shall be adjusted, effective April 1 to a new MAG amount which shall equal eighty-five percent (85%) of the annualized Concession Fee paid during the previous calendar year (the MAG calculation period). For the 3rd Lease Year and each subsequent Lease Year, the MAG amount will be adjusted, effective April 1 to a new MAG amount which shall equal eighty-five percent (85%) of the average of the annualized Concession Fee paid during the previous two (2) MAG calculation periods. Notwithstanding the foregoing, however, the MAG will never be less than the MAG for the first Lease Year.
Sample 1
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Minimum Annual Guaranteed Fee. The Minimum Annual Guaranteed Fee for each Agreement Year (and the equivalent amount for each month of the Agreement Year) shall mean the amounts set forth in Column #1 of Exhibit B that is attached to this Agreement (e.g., as of the Commencement Date, subject to this Agreement, for the first Agreement Year, the Minimum Annual Guaranteed Fee shall be [$ AMOUNT], which is equivalent to [$ AMOUNT] per month for the first Agreement Year). In the event of a partial month within an Agreement Year, the Minimum Annual Guaranteed Fee payable by [SELECTED RESPONDENT] for such partial month of the Agreement Year shall be determined by proportionally adjusting the amount of the monthly installment of the Minimum Annual Guaranteed Fee for that particular partial month based on the actual the number of days occurring during such partial month of the Agreement Year, and shall be payable on or before the first day of that partial month as set forth in this Agreement.
Sample 1

Related to Minimum Annual Guaranteed Fee

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • Fair Share Fee Any teacher who is not a member of the Association may be required by the Association to contribute a fair share fee for services rendered as exclusive representative. The fair share fee for any teacher may not exceed an amount equal to the regular membership dues of the exclusive representative, less the cost of benefits financed through the dues and available only to members of the exclusive representative, but in no event shall the fee exceed 85% of the regular membership dues. The Association shall notify the business office, the Director of the Bureau of Mediation Services, and each teacher of the amount of the fair share fee, and shall certify that such fair share fee conforms to the requirements of the PELRA. A fair share fee deduction will be made for an individual teacher upon written notice by the Association to the business office that such teacher is not a member of the Association. The School Board will thereafter make deductions of the fair share fee from each paycheck occurring thirty (30) days or more subsequent to such written notice. The Association shall notify the business office in writing within ten (10) days after any teacher subject to a fair share fee deduction becomes a member of the Association, and no further fair share fee deductions for such teacher will thereafter be made. Any dispute as to the validity of the fair share fee deductions shall be solely between the Association and the individual teacher involved. The Association hereby warrants and covenants that it will defend, indemnify, and save the School Board harmless from any and all actions, suits, claims, damages, judgments and executions or other forms of liability, liquidated or unliquidated, which any person may have, or claim to have, now or in the future, arising out of or by reason of the deduction of the fair share fee provided herein.

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

  • Maximum Obligation Contract Enter total maximum obligation for total duration of this contract (or new total if Contract is being amended). $ . PROMPT PAYMENT DISCOUNTS (PPD): Commonwealth payments are issued through EFT 45 days from invoice receipt. Contractors requesting accelerated payments must identify a PPD as follows: Payment issued within 10 days % PPD; Payment issued within 15 days % PPD; Payment issued within 20 days % PPD; Payment issued within 30 days % PPD. If PPD percentages are left blank, identify reason: agree to standard 45 day cycle statutory/legal or Ready Payments (M.G.L. c. 29, § 23A); only initial payment (subsequent payments scheduled to support standard EFT 45 day payment cycle. See Prompt Pay Discounts Policy.)

  • Weekly Guarantee Apprentices must be employed a minimum of forty (40) hours per week.

  • Payment Guarantee 20.1 On Contracts where one hundred (100%) percent performance bonds and payment bonds are executed, this Article 20 does not apply.

  • Basis of Guaranteed Maximum Price The Design-Builder shall include with the GMP Proposal a written statement of its basis, which shall include:

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • MINIMUM ALLOWANCE An employee who is required by his/her Agency/Department Head to use his/her private automobile at least eight days in any month on County business shall not receive less than $10 in that month for the use of his/her automobile.

  • Payment and Performance Bonds The Contractor shall comply with the following minimum bonding requirements:

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