Annual Cap definition

Annual Cap means for any calendar year an amount equal to fifteen percent (15%) of the outstanding principal amount of A Bonds as of January 1 of such calendar year. The Company has the right to reserve up to one-third of this fifteen percent (15%) limit for Bonds redeemed as a result of a Bondholder’s right upon death, disability or bankruptcy as described in the Indenture.

Annual Cap means, (i) the maximum aggregate value of services payable by the group of companies to which KWHK belongs (as principal) under this Agreement and the Other Warehouses Management Agreements, for each of the following periods: the period from the Commencement Date until 31 December 2021, each of the financial years ending 31 December 2022 and 2023, the period from 1 January 2024 to the third anniversary of the Commencement Date, on the one hand, the period from the third anniversary of the Commencement Date to 31 December 2024, each of the financial years ending 31 December 2025 and 2026, and the period from 1 January 2027 to the sixth anniversary of the Commencement Date, on the other hand, and (ii) the maximum aggregate value of services payable to KWHK under this Agreement and the Other Warehouses Management Agreements for each of the following periods: the period from the Commencement Date until 31 December 2021, each of the financial years ending 31 December 2022 and 2023, the period from 1 January 2024 to the third anniversary of the Commencement Date, on the one hand, the period from the third anniversary of the Commencement Date to 31 December 2024, each of the financial years ending 31 December 2025 and 2026, and the period from 1 January 2027 to the sixth anniversary of the Commencement Date, on the other hand, each as set out in the announcement published by Xxxxx Logistics Network Limited on or about the date of this Agreement, a copy of which is annexed herein; and

Annual Cap has the meaning ascribed to it in Section 9.02(e).

Examples of Annual Cap in a sentence

• Without prejudice to any part of this condition, the Authority may, where it considers the information reported by the licensee in its Annual Cap and Floor RIGs Submission with respect to any component of the Assessed Revenue to be insufficient, request such information to be supplemented with any additional information or supporting evidence that the Authority considers appropriate.

• Note that the Commission will only be obligated for fees earned, and the contractor shall be obligated to perform all of the services set forth above in the Annual Cap.

• Other services and their charges, including rates for legal services beyond the scope of services included in the Annual Cap (i.e. State or Federal Litigation).

• Where the licensee’s ONCOCt is greater than the BNCOCt, the licensee shall, alongside its Annual Cap and Floor RIGs submission, provide evidence as may be necessary to support the Authority’s determination under paragraph 8 of this condition.12.

• For the purposes of clause 21.1(b) and 21.2(d) this amount is an Annual Cap.

More Definitions of Annual Cap

Annual Cap means for any calendar year an amount equal to ten percent (10%) of the outstanding principal amount of Series B Bonds as of January 1 of such calendar year.

Annual Cap means $1,250,000 for the first payment to any Participant; provided, however, that the Annual Cap shall be adjusted annually (beginning with the second annual payment to the Participant) by the most recent Cost-of-Living Adjustment used by the United States Social Security Administration. Notwithstanding anything else to the contrary, the Annual Cap shall not be increased by more than 2.5% per calendar year.

Annual Cap shall have the meaning set forth in Section 6.2.3.

Annual Cap means for any calendar year an amount up to fifteen percent (15%) of the outstanding principal amount of Bonds as of January 1 of such calendar year, provided, however, the Annual Cap will be further limited to 3.75% of the principal amount of the outstanding Bonds calculated on a quarterly basis as of the first day of the fiscal quarter in which such redemption occurs (the “3.75% Limit”). To the extent that the 3.75% Limit is not fully used in a given quarter, the unused portion shall not be added to the 3.75% Limit for any future quarter, and any redemptions in excess of such limit or to the extent suspended, shall be redeemed in subsequent quarters on a first come, first served, basis.

Annual Cap has the meaning set out in clause 10.2.4.

Annual Cap the maximum aggregate annual value payable by the Group for the transactions under the Common Resource Services Agreement, the Properties Lease Agreement, the Land Lease Agreement, the Technological and Calibration and Testing Services Agreement, or the Product Inspection and Testing as well as Research and Development Services Agreement（as the case may be);

Annual Cap the annual cap of RMB1,300 million for the service fees payable by Xx. Xxxx’x Associated Companies to the Group under the 2020 Services Framework Agreement for the year ending 31 December 2020;