Examples of Annual Payment in a sentence
The University shall make each Annual Payment each year by July 1 or, in 2021, by the Effective Date.
If there is a delay in making a payment because any of these conditions were not completed at least twenty-one (21) days in advance of the Payment Date, then the Annual Payment will be made within twenty-one (21) days of the completion of these conditions.
If a lesser Total Annual Payment is determined in any proceeding or by subsequent agreement of the parties, the Total PILOT Payment shall be re-computed and any excess payment shall be refunded to the Company or, in the Agency’s sole discretion, such excess payment shall be applied as a credit against the next succeeding PILOT payment(s).
For a State-Subdivision Agreement to be applied to the relevant portion of an Annual Payment, notice must be provided to Allergan and the Settlement Fund Administrator at least ten (10) days prior to the Settlement Administrator’s disbursement of such portion to a Settling State and its Participating Subdivisions and Special Districts.
Except as otherwise provided in this Agreement, Allergan shall make one Initial Year Payment (the first Annual Payment) and six (6) additional Annual Payments of equal installments of the Net Abatement Amount (after all applicable offsets) into the Settlement Fund.