MINIMUM FEE PAYABLE Clause Samples

MINIMUM FEE PAYABLE. (a) Each Party shall be responsible for paying an annual minimum fee that is calculated by applying the following formula: That minimum rate established by the Management Committee from time to time X Number of tonnes of Waste provided by the Party in that fiscal year (the "Minimum Fee"). (b) If total payments made by a Party in a given year, for Waste Management Services, exceeds that Party's Minimum Fee, that Party shall not be entitled to a refund of any excess amount that was paid.