Advance Minimum Royalty Payments Sample Clauses

Advance Minimum Royalty Payments. Until production is achieved from the Property, Lessee shall make the following advance minimum royalty payments to Owner: a. Lessee shall pay Owner the sum of THIRTY-FIVE THOUSAND DOLLARS ($35,000.00) upon execution of this Agreement. b. Commencing with the first anniversary of the Effective Date, Lessee shall make the following advance minimum royalty payments to Owner: The term “advance minimum royalty” shall mean that Owner will receive no production royalties (Section 1.3 below) until Lessee has recaptured all advance royalty payments previously made to Owner under this Agreement. Payments made to Owner in any given lease year in which production occurs shall not be less than the advance minimum royalty payable in that year had no production occurred. After recapture, Lessee shall pay production royalties in excess of the annual advance minimum royalties paid to Owner.
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Advance Minimum Royalty Payments. Lessee shall pay to Owner, Advance Minimum Royalty Payments in the amounts and on or before the dates described below: On Signing $40,000.00 On or Before 6 Months after signing $60,000.00 On or Before 1 year after signing $100,000.00 On or Before 2 year after signing $100,000.00 On or Before 3 year after signing $100,000.00 On or Before 4 year after signing $200,000.00 Each yearly anniversary thereafter until the total purchase price of Five Million Dollars, ($5,000,000.00) has been paid, unless terminated or canceled. $200,000.00 Timely payment in the manner provided herein, mailed to the address as listed, shall maintain this Agreement in full force and effect: Lessee shall be obligated to deliver only one (1) check or payment, and Lessee shall have no responsibility for disbursement or distribution of any such payment after receipt by Owner.
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Advance Minimum Royalty Payments. Lessee shall pay to Owner, Annual Advance Minimum Royalty Payments in the amounts and on or before the dates described below: Upon contract Effective Date $ 50,000.00 I st anniversary, 2012 $ 50,000.00 The Anniversary Date, each year of lease thereafter $ 75,000.00 the above payments may be recouped by Lessee by crediting Advance Minimum Royalty Payments against production royalty payments due the same calendar year in which the minimum royalty payments were paid. After the third Anniversary Date, and after each Anniversary Date thereafter, Advance Minimum Royalty Payments shall be adjusted to proportionally reflect any net increase or decrease in the Producer Price Index for Mining and Quarrying of Non-Metallic Minerals, Except Fuels, Not Seasonably Adjusted, since the Effective Date and each proceeding Anniversary Date as applicable.
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Advance Minimum Royalty Payments. As retribution for the granting of this Exploration and Exploitation Agreement and, in its case, as advance minimum royalty ("Advance Minimum Royalty") on the dates hereinbelow mentioned, for so long as this Agreement remains in effect and there will not be production or it will not be sufficient to pay royalties, THE COMPANY will pay THE CONCESSIONAIRE the following amounts in dollars of the United States of America or its equivalent in national currency, plus the 15% Aggregate Value tax (IVA): a) At the execution of this agreement by THE CONCESSIONAIRE US$ 5,000 b) Three months after the execution of the agreement US$ 5,000 c) Twelve months after the execution of the agreement US$ 25,000 d) Twenty four months after the execution of the agreement US$ 50,000 e) Thirty six months after the execution of the agreement US$ 75,000 f) Forty eight months after the execution of the agreement US$ 100,000 Total: US$ 260,000 Once the above-mentioned amounts have been paid THE COMPANY's obligation to make the Advance Minimum Royalty payments will terminate. All of said Advance Minimum Royalty payments shall be deemed a prepayment of Production Royalty payable under the following Clause Fourth, and from and after the Production Date, THE COMPANY may recover all sums paid to THE CONCESSIONAIRE as Advance Minimum Royalty, by crediting and applying said Advance Minimum Royalty against and in reduction of the Production Royalty payments accruing and becoming due at any time hereafter, until by such application all Advance Minimum Royalty previously paid by THE COMPANY has been exhausted. If within the term of fortyh-eight months to which this Clause refers production starts and it is not be sufficient to pay the "Production Royalty", THE COMPANY shall pay to THE CONCESSIONAIRE the Advance Minimum Royalty to which this clause refers.
Sample 1
Advance Minimum Royalty Payments. Upon exercise of its Option and each year thereafter on or before the anniversary date of such exercise for so long as any of the mining claims (or any amendments, relocations or replacements thereof) or other tracts constituting the Property (including any Additional Lands acquired pursuant to Section 1.2 above) are owned by TRC or its successors, TRC shall pay Owner (allocating 85% to Xxxxxx Van Ert and 15% to Xxxx Xxxxxxx) the sum of One Hundred Fifty Thousand Dollars ($150,000), which amount shall be a credit against any Royalty owing on production of Minerals during such year. This amount shall be a minimum royalty and shall not be credited against Royalty on production for subsequent years. If TRC desires to abandon or relinquish any of the mining claims (or any amendments, relocations or replacements thereof) or other tracts constituting the Property (including any Additional Lands acquired pursuant to Section 1.2 above), then the provisions of Section 1.4 above shall apply.
Sample 1
Advance Minimum Royalty Payments. In order to maintain this Agreement in good standing, until production is achieved from the Property, Lessee shall make the following advanced minimum royalty payment to Owner: a. As the initial consideration for this Agreement, Lessee has paid the filing fees for the LS claims with the Nevada Bureau of Land Management and the Lander County Recorder. Lessee has also paid Owner the sum of FIVE THOUSAND DOLLARS ($5,000.00) on execution of the Letter Agreement and FIFTEEN THOUSAND DOLLARS ($15,000.00) on March 1, 2005, as required by the Letter Agreement. b. Commencing on March 1, 2006, and payable on March 1 of each year thereafter, Lessee shall make the following advance minimum royalty payments to Owner: The total of all advance minimum royalty payments made by Lessee to Owner shall be ONE MILLION FOUR HUNDRED THOUSAND DOLLARS ($1,400,000.00), which shall be one component of the purchase price set forth in Section 1.5 below.
Sample 1
Advance Minimum Royalty Payments. Until production is achieved from the property, Lessee shall pay the following advance minimum royalties to Owner. a. Lessee shall pay Owner the sum of TWELVE THOUSAND DOLLARS ($12,000.00) by October 8, 2010. Lessee also agrees to reimburse Owner for its claim staking costs in the amount of THREE THOUSAND SEVEN HUNDRED TWENTY-NINE DOLLARS AND SIXTY CENTS ($3,729.60), and Lessee agrees to pay all filing and recording fees required by the Nevada Bureau of Land Management and Washoe County for perfecting the Claims. b. Commencing on the first anniversary of the Agreement, Lessee shall make the following advance minimum royalty payments to Owner: Anniversary of Agreement Annual Advance Royalty Payment 1 $20,000.00 2 $30,000.00 3 $40,000.00 4 and all years thereafter $50,000.00 The term "advance minimum royalty" shall mean that Owner will receive no production royalties (Section 1.3 below) until Lessee has recaptured all advance royalty payments previously made to Owner under this Agreement. Payments made to Owner in any given lease year in which production occurs shall not be less than the advance minimum royalty payable in that year, had no production occurred. After recapture, Lessee shall pay production royalties in excess of the annual advance minimum royalties paid to Owner.
Sample 1
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Advance Minimum Royalty Payments. During the Initial Term of this Sublease, Sublessee shall pay to Sublessor a total recoupable Advance Minimum Royalty of $1,500,000, payable as follows: a) upon execution of this Sublease, the sum of $100,000; b) upon the first anniversary date of this Sublease, the sum of $200,000; c) upon the second anniversary date of this Sublease, the sum of $300,000; d) upon the third anniversary date of this Sublease, the sum of $400,000; e) and upon the fourth anniversary date of this Sublease, the sum of $500,000. Such recoupable Advance Minimum Royalty payments due during the Initial Term shall not be delayed or avoided because of force majeure or surrender or termination of the Sublease, unless this Sublease is terminated pursuant to Section 3 above. During the Extended Term of this Sublease, Sublessee shall pay unto Sublessor, beginning on the first day of the Extended Term and continuing on each anniversary date thereafter, an annual recoupable Advance Minimum Royalty in the amount of $300,000 for each year of the Extended Term that this Sublease continues in effect. Upon commencement of mining operations hereunder, Sublessee shall have the right to reimburse itself, from the applicable Earned Royalty (but not from wheelage payments due to the Lessors under the Lease), for all such recoupable Advance Minimum Royalty payments theretofore accumulated and carried forward, by mining free from Earned Royalty, a sufficient quantity of coal so as to recoup all such Advance Minimum Royalty payments. It is understood that Sublessee shall not be entitled to a refund of Advance Minimum Royalty payments if for any reason Sublessee does not exhaust its credit for Advance Minimum Royalty hereunder. If, at any time prior to the expiration or termination of this Sublease, Sublessee shall have paid unrecouped Advance Minimum Royalty in an aggregate amount which exceeds the Earned Royalty which would be due on the merchantable and mineable Pittsburgh coal then remaining in place in the Sublease Premises, then Sublessee shall be relieved from the obligation of continuing to make Advance Minimum Royalty payments for so long as the aggregate unrecouped Advance Minimum Royalty payments exceed the Earned Royalty due, at their applicable rates, on the remaining unmined merchantable and mineable Pittsburgh coal.
Sample 1

Related to Advance Minimum Royalty Payments

  • Minimum Royalties If royalties paid to Licensor do not reach the minimum royalty amounts stated in Section 3.3 of the Patent & Technology License Agreement for the specified periods, Licensee will pay Licensor on or before the Quarterly Payment Deadline for the last Contract Quarter in the stated period an additional amount equal to the difference between the stated minimum royalty amount and the actual royalties paid to Licensor.

  • Minimum Royalty At the beginning of each calendar year during the term of this Agreement, beginning January 1, 2016, Company shall pay to Medical School a minimum royalty of {***}. If the actual royalty payments to Medical School in any calendar year are less than the minimum royalty payment required for that year, Company shall have the right to pay Medical School the difference between the actual royalty payment and the minimum royalty payment in full satisfaction of its obligations under this Section, provided such minimum payment is made to Medical School within sixty (60) days after the conclusion of the calendar year. Waiver of any minimum royalty payment by Medical School shall not be construed as a waiver of any subsequent minimum royalty payment. If Company fails to make any minimum royalty payment within the sixty-day period, such failure shall constitute a material breach of its obligations under this Agreement, and Medical School shall have the right to terminate this Agreement in accordance with Section 8.3.

  • Royalty Payments (1) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate. (2) LICENSEE shall pay earned royalties quarterly on or before February 28, May 31, August 31 and November 30 of each calendar year. Each such payment shall be for earned royalties accrued within LICENSEE’s most recently completed calendar quarter. (3) Royalties earned on sales occurring or under sublicense granted pursuant to this Agreement in any country outside the United States shall not be reduced by LICENSEE for any taxes, fees, or other charges imposed by the government of such country on the payment of royalty income, except that all payments made by LICENSEE in fulfillment of UNIVERSITY’s tax liability in any particular country may be credited against earned royalties or fees due UNIVERSITY for that country. LICENSEE shall pay all bank charges resulting from the transfer of such royalty payments. (4) If at any time legal restrictions prevent the prompt remittance of part or all royalties by LICENSEE with respect to any country where a Licensed Product is sold or a sublicense is granted pursuant to this Agreement, LICENSEE shall convert the amount owed to UNIVERSITY into US currency and shall pay UNIVERSITY directly from its US sources of fund for as long as the legal restrictions apply. (5) LICENSEE shall not collect royalties from, or cause to be paid on Licensed Products sold to the account of the US Government or any agency thereof as provided for in the license to the US Government. (6) In the event that any patent or patent claim within Patent Rights is held invalid in a final decision by a patent office from which no appeal or additional patent prosecution has been or can be taken, or by a court of competent jurisdiction and last resort and from which no appeal has or can be taken, all obligation to pay royalties based solely on that patent or claim or any claim patentably indistinct therefrom shall cease as of the date of such final decision. LICENSEE shall not, however, be relieved from paying any royalties that accrued before the date of such final decision, that are based on another patent or claim not involved in such final decision, or that are based on the use of Technology.

  • Royalty Payment In partial consideration of the grant of rights to Schering by ICN under this Agreement, Schering shall pay ICN a royalty in the following amount: (a) with respect to sales of Product in the EU, [REDACTED] of Net Sales, [REDACTED], but in no event less than [REDACTED] of Net Sales; and (b) with respect to sales of Product in the Territory, other than in the EU: [REDACTED]; [REDACTED]; and [REDACTED]; provided, however, that in no event shall the royalty on sales of the Product in any country in the Territory (including the EU) be less than [REDACTED] per capsule sold based on a [REDACTED], [REDACTED] per capsule sold based on a [REDACTED], and [REDACTED] sold based on a [REDACTED], such amounts to be proportionately adjusted based on a scale of [REDACTED] for other capsule sizes less than [REDACTED] and based on a scale of [REDACTED] for other capsule sizes in excess of [REDACTED]; provided further, however, that if in any country in the Territory ICN is also marketing the Product, and if at any time ICN's current actual net selling price for the Product is less than [REDACTED] of Schering's current actual net selling price for the Product (based on the same capsule size and comparable terms and conditions, and other than due to increases in price by Schering), then such minimum royalty shall no longer apply to sales of the Product by Schering in such country (and such minimum royalty shall not be reinstated). In the event any third party is also marketing oral ribavirin in any country in the Territory, then Schering shall not be obligated to pay the minimum royalty provided for in this Section 6.2 for that country. [REDACTED] For purposes of this Section 6.2, the current actual net selling price shall be determined on a country-by-country basis, for each calendar quarter, by dividing the Net Sales of capsules of a particular capsule strength by the total number of capsules of the same strength that were sold and sampled in such country during such period. Each Party shall have the right to audit the books and records of the other Party for the purpose of verifying the current actual net selling price, in accordance with the procedures set forth in Section 6.10.

  • Earned Royalties In partial consideration of the License and subject to Sections 3.7 and 3.8, Company will pay to Penn: (i) a graduated royalty as set forth in the table below based upon worldwide annual Net Sales made by Company and its Affiliates (but not sublicensees) of any Designated Compound Sold for use in the Field of Use while covered in the country of Sale of expected use by a Valid Claim of the Assigned BMS Patents that is licensed to Company under the License (but no other Licensed Product): <$500 million [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$500 million but <$750 million [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$750 million but <$1 billion [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$1 billion [CONFIDENTIAL TREATMENT REQUESTED] /*/% [CONFIDENTIAL TREATMENT REQUESTED] /*/ PATENT LICENSE AGREEMENT (ii) a royalty of [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of Net Sales made by Company and its Affiliates (but not sublicensees) for all Licensed Products that qualify as “Licensed Products” hereunder based on clause (b) of that definition and Sold while covered in the country of Sale of expected use by a Valid Claim of the Penn Existing Patents or Penn New Patents; provided that, notwithstanding any credits provided for in Section 3.7 but subject in all events to Section 3.8, royalties payable by Company for such Net Sales for such Licensed Products shall not be less than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%). Only one royalty shall be due hereunder on the Sale of the same unit of Licensed Product. If a royalty accrues to a Sale of a Licensed Product under both clause (i) and (ii) above, then the higher rate of clause (i) shall apply. Only one royalty shall be due hereunder on the Sale of a Licensed Product even if the manufacture, use, sale, offer for sale or importation of such Licensed Product infringes more than one Valid Claim of the Penn Patent Rights.

  • Minimum Revenue Borrower and its Subsidiaries shall have Revenue from sales, marketing or distribution of the Product and related services (for each respective measured period, the “Minimum Required Revenue”): (a) during the twenty-four month period beginning on January 1, 2015, of at least $45,000,000; (b) during the twenty-four month period beginning on January 1, 2016, of at least $80,000,000; (c) during the twenty-four month period beginning on January 1, 2017, of at least $110,000,000; and (d) during the twenty-four month period beginning on January 1, 2018, of at least $120,000,000; and (e) during the twenty-four month period beginning on January 1, 2019, of at least $120,000,000.

  • Earned Royalty In addition to the annual license maintenance fee, ***** will pay Stanford earned royalties (Y%) on Net Sales as follows:

  • 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.

  • Contract Quarterly Sales Reports The Contractor shall submit complete Quarterly Sales Reports to the Department’s Contract Manager within 30 calendar days after the close of each State fiscal quarter (the State’s fiscal quarters close on September 30, December 31, March 31, and June 30). Reports must be submitted in MS Excel using the DMS Quarterly Sales Report Format, which can be accessed at xxxxx://xxx.xxx.xxxxxxxxx.xxx/business_operations/ state_purchasing/vendor_resources/quarterly_sales_report_format. Initiation and submission of the most recent version of the Quarterly Sales Report posted on the DMS website is the responsibility of the Contractor without prompting or notification from the Department’s Contract Manager. If no orders are received during the quarter, the Contractor must email the DMS Contract Manager confirming there was no activity.

  • Running Royalties Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. No multiple royalties shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A.

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