Minimum Royalties definition

Minimum Royalties means the applicable minima set out in paragraph 2.1(b) below.

Minimum Royalties has the meaning set forth in Section 3.4 hereof.

Minimum Royalties shall have the meaning as defined in Section 7.5.

Examples of Minimum Royalties in a sentence

• For the avoidance of doubt, the Minimum Royalties for fourth (4th) and fifth (5th) Contract Years may only be changed if agreed in writing by the parties hereto.

• At the end of the second (2nd) Contract Year, Licensor and Licensee may review the license exploited by the Licensee hereunder in the first (1st) and second (2nd) Contract Years, and based upon such review, may discuss whether to increase or decrease the Minimum Royalties for forth (4th) and fifth (5th) Contract Years.

• Within thirty (30) days following the execution and delivery of this Agreement, Licensee shall make advance payment of the Minimum Royalties for the first (1st) Contract Year.

• Licensee hereby acknowledges and agrees that no Royalties or CMF earned from Net Sales during the Sell-Off Period may be credited towards any Guaranteed Minimum Royalties or Minimum CMF, respectively, previously paid to Licensor during any prior Contract Year.

• If CWRU terminates this Agreement pursuant to this Section, Licensee shall still pay CWRU any Annual Minimum Royalties due for the next Year thereafter, notwithstanding termination of Licensee's rights hereunder.

More Definitions of Minimum Royalties

Minimum Royalties shall have the meaning ascribed to it in Section 2.01(b) of this Agreement.

Minimum Royalties means the minimum royalties payable to Indevus by Esprit in the applicable Calendar Year determined in accordance with the table set forth in Section 6.2(b)(i).

Minimum Royalties. An annual minimum royalty for each calendar year as identified on Table 1. In the event that LICENSEE's earned royalty payment to BYU during any particular calendar year shall fall below that sum indicated in Table 1, then LICENSEE shall pay a minimum royalty to BYU with its last report of the year in the amount indicated in Table 1 less any earned royalties paid for the calendar year. Earned royalties for any given calendar year shall only be credited against minimum royalties for that same calendar year. Table 1 Calendar Year Minimum Royalty -------------- --------------- 1997 $ 20,000 1998 $ 50,000 1999 $100,000 2000 and each year thereafter $150,000

Minimum Royalties. The minimum royalty payments of $25,000 through December 31, 1997 are waived. Please signify your acknowledgement of such waiver by signing where indicated below. Sincerely, /s/ Xxxxxx X. Xxxxxxxx Xxxxxx X. Xxxxxxxx, President Agreed and Acknowledged: By: /s/ Xxxxxx Xxxxxxxx Xxxxxx Xxxxxxxx, President Confidence Golf, Inc. Date: March 20, 1998 SCHEDULE 1 LICENSED PATENT RIGHTS Jurisdiction Title Number Date USA Golf Club Head 5,024,437 06/18/91 USA Golf Club Head and Method of Forming Same 5,094,383 03/10/92 USA Golf Club Head and Method of Forming Same 5,261,663 11/16/93 USA Golf Club Head and Method of Forming Same 5,261,664 11/16/93 USA Golf Club Head and Method of Forming Same 5,255,918 10/26/93 USA Golf Club Head and Method of Forming Same 5,344,140 09/06/94 USA Golf Club with Recessed Non Metallic Outer Face Plate 5,417,419 05/23/95 USA Structure and Process for Affixing a Golf Club Insert to a Golf Club Head 5,720,673 02/24/98

Minimum Royalties. (which, collectively with Earned Royalties shall be referred to herein as “Royalties”) shall be: Minimum Royalty Amount Date Accrued $35,000 June 30, 2014 $70,000 March 31, 2015 $70,000 March 31, 2016 $70,000 March 31, 2017

Minimum Royalties. An annual minimum royalty of fifty thousand dollars ($50,000.00) for each calendar year shall be paid in two installments of twenty- five thousand dollars ($25,000) at the conclusion of each six month period commencing with the 1998 calendar year. In the event that LICENSEE's earned royalty payment to BYU during any particular six-month period shall fall below twenty-five thousand dollars, then LICENSEE shall pay a minimum royalty to BYU with its report of the second or fourth quarter respectively of twenty-five thousand dollars less any earned royalties paid for that six-month period. All earned royalties for any given calendar year can be credited against all minimum royalties for that calendar year, but earned royalties for any given calendar year shall only be credited against minimum royalties for that same calendar year.

Minimum Royalties shall have the meaning set forth in Subsection 11.1.