Annual Payment Cap definition

Annual Payment Cap means, with respect to each CVR that is Outstanding as of the applicable Annual Payment Record Date, an amount equal to (a) twelve million dollars ($12,000,000) divided by (b) the Initial Settlement CVR Amount.
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Annual Payment Cap means Seven Million Dollars ($7,000,000.00) in each Contract Year.
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Annual Payment Cap means, with respect to a particular Annual Period, the amount set forth for such Annual Period on Annex B, as applicable.
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Examples of Annual Payment Cap in a sentence

  • If the total amount of IRMA's payments and the payments made by MEMBERS pursuant to paragraph (C) above were less than the IRMA Aggregate Annual Payment Cap for that Program Year, then all MEMBERS whose claims or lawsuits were paid on a proportionate basis pursuant to paragraph (C) above will be reimbursed by IRMA for the unpaid portion of their claim or lawsuit which they paid (provided that such unpaid amounts are normally paid by IRMA).

  • Section 2.1.4(a) of the Grant Agreement shall be DELETED and REPLACED in its entirety with the following: (a) Except as provided in Section 2.1(g), in no event shall the County be obligated to pay Marquee Event Grants in excess of the Annual Payment Cap (i.e., $7,000,000.00) in any given Contract Year during the Term and the Post- Expiration Period.

  • If the total amount of IRMA's payments and the payments made by MEMBERS pursuant to paragraph (C) above exceed the IRMA Aggregate Annual Payment Cap for that Program Year, then IRMA shall determine the ratio between the total amount paid by IRMA for that Program Year, and the amount that should have been paid by IRMA for all MEMBERS if there were sufficient funds available.

  • IRMA shall provide a minimum of six million dollars ($6,000,000.00) per occurrence coverage for general, automobile and public officials' liability, subject to the Member Annual Payment Cap and the IRMA Aggregate Annual Payment Cap (as such terms are hereinafter defined) and any exclusions and/or conditions as determined annually by the Board of Directors.

  • The amount of the Member Annual Payment Cap shall be the same for each MEMBER and be determined at the time the general liability coverage for that Program Year is established and shall apply to payments made from the Loss Fund and shall not include any amounts for which commercial insurance had been purchased.

  • Any provision of the Agreement which, by its nature, would survive termination or expiration of the Agreement will survive any such termination or expiration of the Agreement including Section 15 (Product Warranty, Non-Conforming Products and Recall), Section 18 (Insurance and Indemnification), Section 21 (Confidentiality and Information Security), Section 23 (Service Requirements), Section 34 (Termination Assistance), Section 40 (Governing Law, Venue and Remedies), and Section 42 (Survival).

  • The IRMA Aggregate Annual Payment Cap for any Program Year shall equal the initial Loss Fund budgeted plus the maximum Supplemental Assessment capability for IRMA for that Program Year.

  • Awards that are limited pursuant to the Annual Payment Cap may not be carried over and paid during a subsequent fiscal year.

  • Construct the proposed pad for the trash enclosure of pervious pavement, or so that it will drain to landscaping, ensuring that it the landscaping will allow infiltration of the volume of runoff produced from a 0.75 inch storm event.

  • Section 3.12 – Limitation of Liability for Claims and Lawsuits Paid From the Loss Fund (A) Member Annual Payment Cap.


More Definitions of Annual Payment Cap

Annual Payment Cap has the meaning given in Schedule 1.
Sample 1
Annual Payment Cap means Seven Million Dollars ($7,000,000.00) in each Contract Year.
Sample 1

Related to Annual Payment Cap

  • Earn-Out Payment has the meaning set forth in Section 2.4(a).

  • Earn-Out Amount has the meaning set forth in Section 2.07(a).

  • Final Payment Date means the "Final Payment Date" as specified in § 1 of the Product and Underlying Data.

  • Earn-Out Payments has the meaning set forth in Section 2.3(a).

  • Final Payment Percentage is five percent (5.00%).

  • Final payment rate means the aggregate sum of the two components (the blended base amount and capital costs) that, when added together, form the final dollar value used to calculate each provider’s reimbursement amount when multiplied by the DRG weight. These dollar values are displayed on the rate table listing.

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Payment month means, for all programs except EA, the calendar month for which benefits are issued.

  • Earnout Amount has the meaning set forth in Section 2.15(a).

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the original principal amount of such Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their respective Pro Rata Shares.

  • Allowable Amount on any date, means:

  • Expected Final Payment Date means, with respect to each Series or, if applicable, each Class of Securitization Bonds, the date when all interest and principal is scheduled to be paid with respect to that Series or Class in accordance with the Expected Amortization Schedule, as specified in the Series Supplement therefor.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.