Annual Ceiling definition
Examples of Annual Ceiling in a sentence
Adjustment to amounts and payment cap If Project Operator gives notice to the Commonwealth in accordance with clause 21.3 (“Notice of Relevant Cost Change”), then the parties will negotiate in good faith an adjustment to the Annual Floor, Annual Ceiling and/or Annual Payment Cap that the parties consider is required to pass through 50% of the Relevant Cost Change (incurred at any time more than twelve (12) months after the Signing Date) to the Commonwealth in accordance with the Cost Change Principles.
The “Annual Revenue Ceiling” in respect of a Financial Year is calculated as follows: where: ARCFY = the Annual Revenue Ceiling for the Financial Year; ∑NQTI = the sum of the Notional Quantity for all Trading Intervals in the Financial Year calculated in accordance with item 3.9 (“Calculation of Notional Quantity”); and ACFY = the Annual Ceiling for the Financial Year applicable to the Financial Year.
Where any of paragraphs (a) and (c) of the definition of Support Year apply, the Annual Floor and Annual Ceiling will be adjusted proportionally, having regard to the number of days in the relevant partial year as a percentage of the total number of days in a full calendar year.
The “Annual Revenue Sharing Amount” for each Support Year is calculated as follows: where: ARSSY is the Annual Revenue Sharing Amount for the Support Year; NOR is the Net Operational Revenue for the Support Year; ACSY is the Annual Ceiling for the Support Year, calculated in accordance with section 11.2 (“Annual Ceiling Calculation”); APCSY is the Annual Payment Cap for the Support Year, calculated in accordance with section 11.3 (“Annual Payment Cap Calculation”).
No adjustment to amounts and payment cap Notwithstanding any other provision of this agreement, no adjustment will be made to the Annual Floor, Annual Ceiling or Annual Payment Cap for, or as a result of, the commencement or cessation of any Green Product Scheme.
Dispute resolution If the parties fail to agree the required adjustment to the Annual Floor, Annual Ceiling or Annual Payment Cap under clause 21.4 (“Adjustment to amounts and payment cap”) by the later of the date that is: 60 Business Days after receipt of the notice under clause 21.3 (“Notice”); and 120 Business Days after the commencement of the relevant Change in Law, then either party may refer the Dispute to an Independent Expert for determination under clause 27.6 (“Independent Expert”).
This clause 21.1 may operate in conjunction with clause 21.2 (“Relevant Cost Change”) and clause 21.3 (“Notice of Relevant Cost Change”), but is intended to address amendments to the agreement other than those relating to the Annual Floor, Annual Ceiling or Annual Payment Cap.
Salary Level % of Costs of Selected Plan Annual Ceiling of Contributions $25,001-$30,000 25% $ 400 $30,001-$35,000 35% $ 650 $35,000-$40,000 45% $ 900 $40,001-$45,000 55% $1,250 $45,001-$50,000 65% $1,500 $50,001 + 75% $1,750 e.
Adjustment to amounts and payment cap If Project Operator gives notice to the Commonwealth in accordance with clause 21.3 (“Notice”), then the parties will negotiate in good faith an adjustment to the Annual Floor, Annual Ceiling and/or Annual Payment Cap that the parties consider is required to pass through 50% of the Relevant Cost Change to the Commonwealth in accordance with the Cost Change Principles.