Maximum Annual Amount definition

Maximum Annual Amount is defined in Section 5.17(a).

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Maximum Annual Amount means, with respect to each Product that is sold by a Sublicensee, of the Net Sales of such Product by such Sublicensee in the relevant calendar year.

Maximum Annual Amount means, for any individual for a given Fiscal Year, one or more Performance Awards providing for one or more payouts in any given Fiscal Year in an aggregate amount equal to Three Million Five Hundred Thousand Dollars ($3,500,000).

Examples of Maximum Annual Amount in a sentence

For purposes of determining the amount of any Maximum Annual Amount not used in any fiscal year, any Prior Year Unused Portion from the immediately preceding fiscal year shall be deemed to have been expended prior to any portion of the Maximum Annual Amount for such fiscal year.
Notwithstanding the foregoing, the unused portion of the Maximum Annual Amount not expended in the applicable fiscal year may be carried over for use in the immediately succeeding fiscal year only.
Subject to Mississauga having fulfilled its obligations under this Agreement, Canada will pay Mississauga for approved Eligible Expenditures incurred up to a Maximum Annual Amount as identified in Schedule 2 and based on the financial statement referred to in clause 3.12 of this Agreement.
During the Royalty Period, the Company shall pay to Ramot an amount (the “Percentage Amount”), but in any event not less than the Minimum Annual Amount and not more than the Maximum Annual Amount for each Calendar Year.
Such distributions shall be made at such times as shall be determined by Equus, provided that within 75 days of the close of each fiscal year Equus shall determine the maximum amount permitted to be distributed under this Section 18(a) for such fiscal year ("Maximum Annual Amount") and shall distribute within 90 days of the close of such fiscal year the excess of the Maximum Annual Amount for such fiscal year over the aggregate distributions previously made in respect of such (PAGE) fiscal year.

More Definitions of Maximum Annual Amount

Maximum Annual Amount means the amount credited to each Participant’s Account, for a Period of Coverage, to be available for reimbursement of Qualified Medical Expenses under the HRA Plan.

Maximum Annual Amount means the maximum amount CERN will pay for the Services in a given contractual year, calculated as set out in Annex 1.

Maximum Annual Amount means 300,000 Common Shares, or such other amount as from time to time determined by the Board of Directors;

Maximum Annual Amount means (i) $200,000,000 for the period from and including January 1, 2006 through and

Maximum Annual Amount means (i) $200,000,000 for the period from and including January 1, 2006 through and including December 31, 2006 and (ii) during each Annual Measurement Period (as defined below) thereafter, an amount equal to the sum of (x) the Maximum Annual Amount for the immediately preceding Annual Measurement Period plus (y) if the Consolidated Operating EBITDA for the immediately preceding Annual Measurement Period was greater than 110% of the Consolidated Operating EBITDA for the second preceding Annual Measurement Period $50,000,000, and, if not, zero. Notwithstanding the foregoing, the unused portion of the Maximum Annual Amount not expended in the applicable fiscal year may be carried over for use in the immediately succeeding fiscal year only. As used herein the term “Annual Measurement Period” shall mean each period commencing on January 1 of a calendar year and ending on December 31 of such calendar year.

Maximum Annual Amount means Thirty-One Million Four Hundred and Fifty-Four Thousand Dollars ($31,454,000) per twelve (12) month Year. However, upon the earlier of either the termination of the Membership Agreement or September 30, 2026, the Maximum Annual Amount shall be reduced to Twenty-Nine Million Dollars ($29,000,000) per twelve (12) month year, subject to the District’s maintenance of effort to request and advocate for a tax rate sufficient to support the Maximum Annual Amount and subject to the District’s obligations in Section 4.3 of this Agreement. To the extent the Texas Medicaid program is expanded in conformity with the Patient Protection and Affordable Care Act, 42 U.S.C. § 18001 (2010) or other Universal Governmental Plan, and that expansion causes a reduction to the number of Indigents, the parties shall negotiate a reasonable reduction to the Maximum Annual Amount to reflect the reduced Indigent enrollment (with any partial twelve (12) month year pro-rated between the previously effective Maximum Annual Amount and the reduced Maximum Annual Amount). Notwithstanding anything herein to the contrary, the Maximum Annual Amount paid by the District to the Provider in any given twelve (12) month year shall be reduced by the aggregate amount paid by the District in such twelve (12) month year to any qualified provider or Governmental Entity with respect to medical aid and hospital care services rendered to Indigent residents of the County, outside the limits of the County, for which the District is liable pursuant to any applicable Legal Requirement; provided, however, the deductions from the Maximum Annual Amount permitted by the immediately preceding clause in any Year shall not exceed five percent (5%) of the Maximum Annual Amount computed without regard to such deductions. The District shall provide on a monthly basis, as part of the Monthly Operating Committee meeting, an accounting of any amounts, if any, actually paid to qualified providers or Governmental Entities as permitted by the terms of this paragraph. The Maximum Annual Amount shall be prorated.

Maximum Annual Amount means, with respect to each Product that is sold by a Sublicensee, , world-wide Net Sales of such Product by such Sublicensee in the relevant Calendar Year. In the event that the total Percentage Amount paid to Ramot in a given Calendar Year is less than the Minimum Annual Amount due for such Calendar Year, the Company shall pay the difference to Ramot within thirty days following the end of such Calendar Year. For the avoidance of doubt, in the event that no Sublicense Royalties are paid to the Company or its Affiliates on sales of Products by a given Sublicensee in a given Calendar Year, then the Company shall be required to pay to Ramot the applicable Minimum Annual Amount with respect to such Net Sales by such Sublicensee.