Minimum Annual Payments definition

Minimum Annual Payments. The Annual Payment in any year (the “Annual Payment”) must not be less than the “Minimum Amount” for the Year, which is the minimum amount which the Tax Act requires to be paid from a RRIF each Year.
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Minimum Annual Payments in the amounts set forth in the table below, commencing on the first day of the first month following the date of the First FDA Approval (such first day of such first month, the “Minimum Payment Commencement Date”) and continuing for a period of five (5) years, unless earlier terminated as set forth in Section 9.5.1(iii) (the “Minimum Annual Payment Term”). For clarity, for each twelve (12)-month period during the Minimum Annual Payment Term in which the aggregate amount payable to Alkermes as royalties under Section 9.5.1(i) is less than the applicable Minimum Annual Payment, Biogen shall pay Alkermes an amount equal to the applicable Minimum Annual Payment for such twelve (12)-month period, minus the aggregate amount already paid to Alkermes as royalties under Section 9.5.1(i) for such twelve (12)-month period. Twelve (12)-Month Period Minimum Annual Payment First twelve (12)-month period following the Minimum Payment Commencement Date [**] Second twelve (12)-month period following the Minimum Payment Commencement Date [**] Third twelve (12)-month period following the Minimum Payment Commencement Date [**] Fourth twelve (12)-month period following the Minimum Payment Commencement Date [**] Fifth twelve (12)-month period following the Minimum Payment Commencement Date [**]
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Examples of Minimum Annual Payments in a sentence

  • In no event shall any pricing or other terms made available to Licensee under this Section 6.3 be construed as relieving Licensee from its obligations to make such Minimum Annual Payments.

  • Without in any way limiting Licensee’s obligation to make Minimum Annual Payments under Section II(A)(1)(b) of Exhibit D (Licensee Products, Royalties and Fees), PalmSource acknowledges that Licensee shall have no obligation under this Agreement to incorporate any PS Licensed Products in any Licensee products or otherwise distribute any PS Licensed Products.

  • Licensee’s rights under this Section 6.3 are conditioned upon, and shall only continue for so long as, Licensee pays to PalmSource the Minimum Annual Payments set forth in Section II (A)(1) of Exhibit D (Licensee Products, Royalties and Fees) for each Contract Year.

  • Datalink submitted that the intent of the Minimum Annual Payments was to encourage proactive roll-out of networks and to discourage potential anti-competitive actions such as holding an agreement for pole space without using that space.

  • C3, on the other hand, supported the view that the Quarterly Reserved Space Payment and the Total Minimum Annual Payments are discriminatory and encourage inactivity on the part of DataLink.

  • The concept of Minimum Annual Payments was designed to ensure that the minimum number of poles as set out by the attaching utility in their relevant agreement with DataLink are subject to permit applications for attachment to as part of an organized roll-out plan.

  • This will result in an amount equal to 0.12% of the gross gaming revenue (or Minimum Annual Payments, which ever is greater) being paid to Xxxxxxx X.

  • Minimum Annual Payments (75% Pension)  Mandated by Settlement Agreement (¶¶ 4, 4.3 (ECF 468-1, at 10))  Annual Payments FY16 FY 2016 $30M FY 2017 $33M FY 2018 $45M Minimum Annual Payments (75% Pension) Cont’d.

  • Licensee’s rights under this Section 6.3 are conditioned upon, and shall only continue for so long as, Licensee pays to PSI the Minimum Annual Payments set forth in Section II (A)(1) of Exhibit D (Licensee Products, Royalties and Fees) for each Contract Year.

  • Minimum Annual Payments: The Annual Payment must not be less than the Minimum Amount.

Related to Minimum Annual Payments

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Average annual payroll means the average of the annual

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Semi-Annual Period means each period of six-months, commencing on the first day of a Fiscal Year; provided that the first such period shall begin on July 1, 2013 and end on December 31, 2013.

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Maximum Allowable Payment means the maximum amount, as established by AvMed, which AvMed will pay for any Covered Service rendered by a Non-Participating Provider or supplier of services, medications or supplies, except for Emergency Medical Services and Care as defined herein. The Maximum Allowable Payment may be changed at any time by AvMed without notice to you or your consent.

  • Average Annual Compensation For the purposes of this Agreement, “Average Annual Compensation” shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Pro Rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Minimum Contract Value means 10% of the Maximum Contract Value.

  • Maximum Weekly Starts means the maximum number of times that a generating unit can be started in one week, defined as the 168 hour period starting Monday 0001 hour, under normal operating conditions. Member:

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Rental Payments means the rental payments paid by the occupant of a unit, excluding any supplemental rental assistance to the occupant from the State, the federal government, or any other public agency, but including any mandatory fees or charges imposed on the occupant by the Owner as a condition of occupancy of the unit.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Average annual rainfall means a typical calendar year of precipitation as determined by the Wisconsin Department of Natural Resources for users of models such as WinSLAMM, P8 or equivalent methodology. The average annual rainfall is chosen from a department publication for the location closest to the municipality.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Average Annual Debt Service means, at the time of calculation, the sum of the Annual Debt Service for the remaining years of the loan to the last scheduled maturity of the loan divided by the number of those years.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Non-Payment Period Rate means, initially, 200% of the applicable Reference Rate (or 275% of such rate if the Corporation has provided notification to the Auction Agent prior to the Auction establishing the Applicable Rate for any dividend pursuant to paragraph 2(f) hereof that net capital gains or other taxable income will be included in such dividend on shares of AMPS), provided that the Board of Directors of the Corporation shall have the authority to adjust, modify, alter or change from time to time the initial Non-Payment Period Rate if the Board of Directors of the Corporation determines and Moody's and S&P (and any Substitute Rating Agency in lieu of Moody's or S&P in the event either of such parties shall not rate the AMPS) advise the Corporation in writing that such adjustment, modification, alteration or change will not adversely affect their then-current ratings on the AMPS.