Annual Minimum Payment definition

Annual Minimum Payment means the minimum calculated amount that must be paid out of the Plan as defined in the Applicable Tax Legislation for the age of the Annuitant or if elected, the Annuitant’s Spouse, except for the first year of the Plan, where the payment is zero.

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Annual Minimum Payment means the amount of one-hundred thousand dollars ($100,000) which Homer will pay to Montecito within thirty (30) days after the Effective Date and thereafter by January 31 of each new Year of the Term. The amount of the Annual Minimum Payment may be reduced if the Annual Minimum Payment Credits reach

Annual Minimum Payment means, for Annual Minimum Periods during the initial term of this Agreement, $100,000. For Annual Minimum Periods during the five-year renewal term of this Agreement permitted under section 2.2, "Annual Minimum Payment" means $100,000, adjusted for inflation occurring between the beginning of the initial term of this Agreement and the beginning of the renewal term in question. Inflation adjustments will be made using the United States Department of Labor Bureau of Labor Statistics Consumer Price Index for All Urban Consumers- Minneapolis-St. ▇▇▇▇, MN-WI All Items for the most recent calendar year.

Examples of Annual Minimum Payment in a sentence

• In each case, it is understood that the Deferred Compensation Annual Minimum Payment may extend Licensee’s obligation to make payments to the University based on Net Sales beyond the expiration of the Patent Rights; the Parties regard such as deferred compensation.

• Futurestep and KF shall, jointly and severally, pay Dow ------------ ▇▇▇▇▇ a minimum aggregate payment for each twelve-month period during the Term (the "Annual Minimum Payment").

• However, upon termination by Licensee, termination does not waive Licensee’s obligations regarding Deferred Compensation Annual Net Sales Payment under Section 3.2 and the Deferred Compensation Annual Minimum Payment under Section 3.4.

• If total payments (including any payments required pursuant to Section 3.2 or Sections 4.1 through 4.5) required to paid to Pathogenics for the annual periods set forth below are less than the minimum amount set forth below, Acuity shall pay Pathogenics an amount (the “Annual Minimum Payment”) for that annual period equal to the difference between the total payments required for such annual period and the Annual Minimum Payment owing for that annual period.

• No commission credits may be used to reduce commission payments to below the Annual Minimum Payment.

• For greater clarity, in the event the COD occurs before the RCOD, the Generating Facility Owner shall not be entitled to the Annual Minimum Payment during the period running from COD to the RCOD.

• Any Revenue Payment in excess of the Annual Minimum Payment shall be due and payable on the 60th day following the end of each such annual period.

• Any Shareholder Loans so converted shall be converted into Shares pro rata to the then Shareholder Percentages of the Shareholders and in a manner which does not vary the Shareholder Percentages of the Shareholders post conversion.

• The Annual Minimum Payment for each subsequent year shall be due on the anniversary of the Payment Date.

• At such time during any Year that the cumulative Per Transaction Fees first exceed the Annual Minimum Payment paid in respect of such Year, the Licensee will make payment of such excess amount at the time it provides the Monthly Report for such month and, thereafter, during the remainder of such Year, the Licensee will pay the amount of the Per Transaction Fees reflected in each Monthly Report at the time it provides such Monthly Report.

More Definitions of Annual Minimum Payment

Annual Minimum Payment means, for each calendar year during the Term (except 2009), $10,000,000 subject to such adjustments as required by Schedule C to this Agreement.

Annual Minimum Payment has the meaning given in Clause 14.11 (d)(i);

Annual Minimum Payment means the minimum amount that must be paid out of the RIF as defined in Applicable Tax Legislation based on your age or if elected, your spouse or common-law partner’s age, except for the first year of the RIF, where the minimum payment is zero;

Annual Minimum Payment has the meaning assigned to it in Section 5.1.