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The second occurrence of an annual event, that is, the first occurrence that is indeed annual.

Additional definitions for 'first annual':

first annualThe first occurrence of an event that is scheduled or hoped to become annual.
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"first annual." Phrases.net. STANDS4 LLC, 2017. Web. 18 Dec. 2017. <http://www.phrases.net/phrase/first-annual_12308>.

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