Common use of Base Payments Clause in Contracts

Base Payments. 1. CVS shall make base payments into the Settlement Fund in an amount equal to thirty-eight percent (38%) of the Maximum Remediation Payment of $4,279,160,837 minus any offsets for Non-Settling States specified in Section IV.F. The maximum total for base payments is $1,626,081,118. The base payments shall be due in annual installments consistent with Exhibit M-1 over the ten (10) Payment Years, subject to potential offsets for Non-Settling States as provided in Section IV.F. 2. Each Settling State’s total base payments for all Payment Years shall not exceed thirty-eight percent (38%) of each Settling State’s Overall Allocation Percentage times the Maximum Remediation Payment. 3. The base payment for any Settling State in each Payment Year shall be the base payment for that Payment Year specified in Exhibit M-1 times the Settling State’s Overall Allocation Percentage specified in Exhibit F-2.

Base Payments. 1. CVS shall make base payments Base Payments into the Settlement Fund in an amount equal to thirty-eight percent (38%) of the Maximum Remediation Payment of $4,279,160,837 minus any offsets for Non-Settling States specified in Section IV.F. The maximum total for base payments Base Payments is $1,626,081,118. The base payments Base Payments shall be due in annual installments consistent with Exhibit M-1 over the ten (10) Payment Years, subject to potential offsets for Non-Settling States as provided in Section IV.F. 2. Each Settling State’s total base payments Base Payments for all Payment Years shall not exceed thirty-eight percent (38%) of each Settling State’s Overall Allocation Percentage times the Maximum Remediation Payment. 3. The base payment Base Payment for any Settling State in each Payment Year shall be the base payment Base Payment for that Payment Year specified in Exhibit M-1 times the Settling State’s Overall Allocation Percentage specified in Exhibit F-2.