Common use of Minimum Annual Payments Clause in Contracts

Minimum Annual Payments. The Annual Payment must not be less than the “Minimum Amount”, which is the amount prescribed under the Tax Act as the minimum amount to be paid out of a RRIF each year.

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 prescribed under which the Tax Act as the minimum amount requires to be paid out of from a RRIF each yearYear.