Minimum Annual Guaranty Clause Samples

The Minimum Annual Guaranty clause establishes a baseline amount that one party, typically a tenant or licensee, is obligated to pay to the other party each year, regardless of actual usage or revenue generated. In practice, this means that even if sales or activity fall below expectations, the paying party must still meet the agreed-upon minimum payment for the year. This clause ensures the receiving party has predictable income and reduces financial risk associated with fluctuating performance or market conditions.
Minimum Annual Guaranty. The Minimum Annual Guaranty for the Concession Unit is shown on said Exhibit “5 (the “Minimum Annual Guaranty”).
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Minimum Annual Guaranty. (a) The Minimum Annual Guaranty for the Concession Unit is shown on said Exhibit “5”, as such amount may be adjusted based on the “as built” condition of that Concession Unit as provided in Paragraph D.2 above, and subject to further adjustment as provided in Paragraph E.1(b) below (the “Minimum Annual Guaranty”). (b) On the Initial Minimum Annual Guaranty Adjustment Date (as hereafter defined in this Paragraph E.1(b)), and on each subsequent anniversary of such Initial Minimum Annual Guaranty Adjustment Date, the Minimum Annual Guaranty applicable to the Concession Unit pursuant to Paragraph E.1 above shall be increased or decreased (as applicable, and subject to the proviso at the end of this sentence) to eighty-five percent (85%) of the total Rent payable by Permittee to Port under Paragraph E above for the Concession Unit for the calendar year most recently ended prior to such anniversary of the Initial Minimum Annual Guaranty Adjustment Date; provided that the Minimum Annual Guaranty for the Concession Unit shall never be less than the amount in effect on the Rent Commencement Date. As used in this Permit, the “Initial Minimum Annual Guaranty Adjustment Date” shall occur on the July 1st immediately following the expiration of the first full calendar year that commenced on or after the Rent Commencement Date. Thus, for example, if the Rent Commencement Date occurred on May 1, 2015, the Initial Minimum Annual Guaranty Adjustment Date shall occur on July 1, 2017, the adjustment shall be based on the Rent payable by Permittee to Port under Paragraph E for the calendar year ending December 31, 2016, and subsequent adjustments shall occur on July 1, 2018 and on each subsequent July 1st during the remainder of the Term.
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Minimum Annual Guaranty. 5 Paragraph E.2 Percentage Of Gross Receipts 5
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Minimum Annual Guaranty. 4 Paragraph E.2 Percentage Of Gross Receipts 4 Paragraph E.3 Rent Commencement Date; Late Opening Charges; Prepayments 4 Paragraph E.4 Remitting Payments 5 Paragraph E.5 Tenant Infrastructure Fee. 6 Paragraph H.1 Relocation, Expansion, Contraction 8 Paragraph H.2 Future Terminal Buildings Additions 10 Paragraph I.1 Management 10 Paragraph I.2 Personnel 11 Paragraph I.3 Quality of Products and Services 12 Paragraph I.4 Franchise Standards 13 Paragraph I.5 Reports and Surveys 13 Paragraph I.6 Advertised Sales or Promotions 14 Paragraph I.7 Credit/Charge Cards and Traveler’s Checks 14 Paragraph I.8 Public Address System 14 Paragraph I.9 Noise and Lights 14
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Minimum Annual Guaranty. Concessionaire shall not be responsible for the payment of the Minimum Annual Guarantee after October 31, 2015. Any payments of the Minimum Annual Guarantee made through the date of this First Amendment for the period on and after November 1, 2015 shall be credited, as provided below, against the Per-Trip Fee, as defined below.
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Related to Minimum Annual Guaranty

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Term and Annual Renewal The term of this Agreement shall be from the date of its approval by the vote of a majority of the Board of each Issuer, and it shall continue in effect from year to year thereafter only so long as such continuance is specifically approved at least annually by the vote of a majority of its Board, and the vote of a majority of those members of the Board who are neither parties to the Agreement nor interested persons of any such party, cast at a meeting called for the purpose of voting on such approval. “Approved at least annually” shall mean approval occurring, with respect to the first continuance of the Agreement, during the 90 days prior to and including the date of its termination in the absence of such approval, and with respect to any subsequent continuance, during the 90 days prior to and including the first anniversary of the date upon which the most recent previous annual continuance of the Agreement became effective. The effective date of the Agreement with respect to each Fund is identified in the Schedule A of this Agreement.

  • Contract Period and Renewal The Contract is effective on the signature date of the latter of the Parties to sign this agreement and terminates on June 30, 2023, unless renewed, extended, or terminated pursuant to the terms and conditions of the Contract. The Parties may extend this Contract subject to mutually agreeable terms and conditions.