Additional Royalty. Vertex shall pay an additional royalty to CFFT in an amount equal to twice the amount of actual CFFT Accelerated Potentiator Funding paid to Vertex under this Second Amendment, in two installments as set forth below. The additional royalty is assumed for illustrative purposes to be based on actual CFFT Accelerated Potentiator Funding of $13.3 million, and based on that assumption a total of $26.6 million would be payable in the following amounts, in each case within thirty days after the first quarter in which cumulative Net Sales of Potentiator Drug Products have reached the following levels: $100 million $ 13.3 million $200 million $ 13.3 million
Additional Royalty. Lessee shall pay, or cause to be paid, an additional royalty to the Superintendent for the use and benefit of Lessor, on or before the twenty-fifth (25th) day of the calendar month following each calendar quarter during the term hereof on all Coal mined and shipped from the Leased Premises during the preceding calendar quarter. The amount of additional royalty shall be determined as follows:
a. Lessee shall determine the Sales Price less Minimum Royalty and any production taxes, hereinafter “Base Price.” The Base Price is determined using the formula and methodology set forth in Appendix A attached hereto. The production tax components shown in Appendix A are those currently in effect. If, in the future, taxes levied and payable change, taxes in effect at the time of sales will be included in the formula and methodology used in determining Base Price. The amount of additional royalty shall be equal to one-third (1/3) the increase in the Base Price per ton above $5.157 per ton, hereinafter “Initial Base Price.” The Initial Base Price was determined using the formula and methodology set forth in Appendix A for a Sales Price of $7.38 per ton.
b. The Initial Base Price of $5.157 per ton is effective July 1, 2004, and will be adjusted quarterly thereafter on January 1, April 1, July 1, and October 1 during the term hereof, hereinafter the “Adjustment Date.” The Initial Base Price as adjusted shall be used to determine the additional royalty for the quarter preceding the Adjustment Date. The Initial Base Price shall be adjusted to reflect 85% of any increase in the “GDP-IPD” in accordance with the definitions, formula, and methodology set forth in Appendix B attached hereto and effective on the Adjustment Date.
c. After April 1, July 1, October 1, and January 1 each year during the term hereof, the Lessee shall determine the Base Price for all Coal mined and shipped on a year-to-date basis during all of the previous quarters for the calendar year. The additional royalty due for all Coal mined and shipped on a year-to-date basis will then be computed. The additional royalty due for the previous quarter will then be equal to the total additional royalty as computed on a year-to-date basis less the additional royalty payments paid for all quarters during the current year prior to the quarter being paid. Appendix C hereto attached shows an example of the formula and methodology for determining the additional royalty payment for a quarter.
Additional Royalty. For all Territory Net Sales above $52,999,999, a royalty based on the following percentages: Territory Net Sales Level achieved by LICENSEE Additional Royalty Percentage ---------------------------------------------- ----------------------------- YEAR 5 ------ $ 53,000,000 - 105,999,999 5% $106,000,000 - 136,999,999 0% $137,000,000 and up 4%
Additional Royalty. As further consideration for the License granted under this Agreement, and in addition to the other payments required pursuant to Section 3.1 of this Agreement, Licensee will pay NetRatings an additional royalty, in the aggregate not to exceed four-million U.S. dollars ($4,000,000) (the “Additional Royalty”), which Additional Royalty shall be required to be paid only if and when: (1) Licensee completes an initial public offering of its securities, in which case Licensee shall pay NetRatings four-million U.S. dollars ($4,000,000) (minus any other payments previously made under this Section 3.1(ii)) within five (5) business days of the closing of the initial public offering; (2) a Change of Control Event occurs, in which case Licensee shall pay NetRatings four-million U.S. dollars ($4,000,000) (minus any other payments previously made under this Section 3.1(ii)) within five (5) business days of such Change of Control Event; and (3) for calendar year 2008, and each calendar year thereafter, Licensee’s Revenue equals or exceeds sixty-million U.S. Dollars ($60,000,000), in which case Licensee shall pay NetRatings two-million U.S. dollars ($2,000,000) on or before January 30 of the calendar year immediately following the calendar year in which Licensee’s Revenue equaled or exceeded sixty-million U.S. dollars ($60,000,000), up to a total of four-million U.S. dollars ($4,000,000) (minus any other payments previously made under this Section 3.1(ii)).
Additional Royalty. (A) Licensee shall pay to Government the following Additional Royalty as a percentage of the value of the recovered reserves on the basis of Gross Total Daily Production in Barrels of oil equivalent per day (BOEPD) for each Contract Area, such Gross Total Daily Production defined as the total output of crude oil (including liquid petroleum gasbut excluding gas which is provided for Article 10.2.1(B)) less all water and sediments produced and all amounts of hydrocarbons re-injected into the Petroleum Reservoir.
Additional Royalty. Where the recovered cumulative Petroleum does not exceed 50 2.5%
Additional Royalty. As further consideration for the VSI/WSS License granted under this Agreement, and in addition to the other payments required pursuant to Section 3.1 of this Agreement, VSI/WSS will pay to NetRatings an additional royalty, in the aggregate amount of two-million two-hundred fifty-thousand U.S. dollars ($2,250,000) (the “Additional Royalty”), which Additional Royalty shall be required to be paid within fifteen (15) business days of the occurrence of a VSI/WSS Change of Control Event, provided that such Additional Royalty will only be payable in connection with the first VSI/WSS Change of Control Event to occur following the Effective Date.
Additional Royalty. Subject to Section 4(a)(iii), JMI will provide Company, free of charge, any API which is delivered during the period of time occurring immediately after the completion of the validation process and continuing until API is delivered for use in Company’s Commercial Launch. In consideration thereof, notwithstanding payment of the Minimum Royalty, Company shall pay JMI an additional royalty on the Net Profits of the Product sold in each Calendar Quarter in accordance with the following tiered royalty rate based on the Annual Gross Sales of the Product in such Calendar Year (“Additional Royalty”): Annual Gross Sales (in USD) of the Product Royalty Rate on Net Profits For the First $[*] [ *]% From Greater than $[*] up to and including $[*] [ *]% From $[*] or greater [ *]%
Additional Royalty. For all Territory Net Sales above $83,999,999, a royalty based on the following percentages: Territory Net Sales Level achieved by LICENSEE Additional Royalty Percentage ---------------------------------------------- ----------------------------- YEARS 1-2(2) ------------ $84,000,000-105,249,999 5% 105,250,000-157,999,999 0% 158,000,000 and up 4% ----------
(1) If the Effective Date of this Agreement is prior to January 1, 1998, LICENSEE shall also pay a base royalty in accordance with this Exhibit prorated by the number of days in 1997 this Agreement is in effect, such royalty payment due on January 31, 1998.
(2) The additional royalty payment to LICENSOR for 1998 shall be calculated by applying the royalty payment schedule to the sum of LICENSEE's Territory Net Sales for the last quarter of calendar year 1997 and the full calendar year 1998.
Additional Royalty. For all Territory Net Sales above $41,999,999, a royalty based on the following percentages: Territory Net Sales Level achieved by LICENSEE Additional Royalty ---------------------------------------------- ------------------ YEARS 7-10 ---------- $ 42,000,000 - 105,249,999 5% $105,250,000 - 136,999,999 3% $137,000,000 and up 4% EXHIBIT F1 Minimum Territory Net Sales Contract Year Minimum Territory Net Sales 1998 $ 32,000,000 1999 $ 32,000,000 2000 $ 32,000,000 2001 $ 32,000,000 Optional Term (1st Extension) 2002 $ 20,000,000 2003 $ 16,000,000 2004 $ 16,000,000 Optional Term (2nd Extension) 2005 $ 16,000,000 2006 $ 16,000,000 2007 $ 16,000,000 EXHIBIT F2 CALCULATION OF ANNUAL ROYALTY PAYMENT CONTRACT YEAR Territory Net Sales Total Net Sales TRADEMARKED PRODUCTS
1. Number of Orders Booked (see attached breakdown)
