Agreement Year 2005 Sample Clauses

Agreement Year 2005. For Agreement Year 2005, subject to Article 6.2(b), Reliant shall be compensated based upon a percentage of incremental Net Sales achieved above a pre-set and fixed Annual Net Sales Baseline. Exhibit 1 outlines the Annual Net Sales Baseline for Agreement Year 2005 and the agreed percentage of Net Sales above the baseline that will be paid to Reliant by Novartis for Agreement Year 2005. Exhibit 2 presents a Seasonalized Net Sales Baseline on a Monthly basis for Agreement Year 2005. During Agreement Year 2005, Reliant will be compensated on a Monthly basis for Net Sales above the Seasonalized Net Sales Baseline using the annual percentages outlined in Exhibit 1 (each a “Monthly Payment”), as further described in Article 6.3 hereof.
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Agreement Year 2005. During Agreement Year 2005, subject to Article 6.6(a), the Sales Force will be staffed with a total number of Sales Representatives representing at least [***] full time equivalents, of which an appropriate number (as reasonably determined by Reliant) will be field managers. Except as otherwise set forth herein, at no time during Agreement Year 2005 will the Sales Force be staffed with less than [***] percent ([***]%) of [***] full time equivalent Sales Representatives (the “Staffing Baseline”), whereby [***] Sales Representatives detailing the Product full-time in the second position shall equal [***] Sales Representative detailing the Product full time in the first position. For the avoidance of doubt, no less than [***] percent ([***]%) of the promotional effort will be provided by First Position Details. The ratio of Sales Representatives working part time shall at no time exceed [***]percent ([***]%). Reliant shall use commercially reasonable efforts to promptly fill all vacant positions within the Sales Force resulting from terminations or resignations. In the event that Reliant fails to maintain the Staffing Baseline and Novartis provides Reliant with written notice of such failure to comply which failure is uncured by Reliant after sixty (60) days of receipt of Novartis’ written notice, Reliant’s share of incremental profit above the Annual Net Sales Baseline for Agreement Year 2005 will be reduced by the amount equal to the difference between (a) the amount that would have been expended by Reliant had Reliant maintained the Staffing Baseline during Agreement Year 2005 and (b) the amount actually expended by Reliant to provide the actual level of Sales Force staffing in Agreement Year 2005, in each case using a cost per Sales Representative of [***]dollars ($[***]). Such reduction of Reliant’s share of the incremental profit over the Annual Net Sales Baseline will be in the form of a payment from Reliant to Novartis within ninety (90) days of receipt of Novartis’ written notice referred to in the preceding sentence and will not be subject to limitations applicable to payments by Reliant to Novartis under Article 6.3. Such reduction in Reliant’s share of the incremental profit over the Annual Net Sales Baseline shall be Novartis’ exclusive remedy for breach by Reliant of its obligation to maintain the Staffing Baseline, provided, however that this limitation shall not apply in the event that the Reliant’s full time equivalent Sales Representatives f...
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Agreement Year 2005. For Agreement Year 2005, subject to Article 6.6(a), Reliant will contractually commit PSME of no less than twenty five million dollars ($25,000,000), and during the first Agreement Half Year of Agreement Year 2005, Reliant will contractually commit PSME of no less than [***] dollars ($[***]). In the event that the PSME commitment for Agreement Year 2005 falls more than [***] percent ([***]%) below twenty five million dollars ($25,000,000) and Novartis provides Reliant with written notice of such failure to comply with the terms of this Article 4.5(a), which failure is uncured by Reliant, Reliant’s share of the incremental profit over the Annual Net Sales Baseline for Agreement Year 2005 will be reduced by the amount equal to the difference between (a) the amount that would have been expended by Reliant had Reliant complied with its obligations under this Article 4.5(a) during Agreement Year 2005 and (b) the amount actually expended by Reliant in connection with this Article 4.5(a) (the “PSME Shortfall Amount”). Such reduction of Reliant’s share of the incremental profit over the Annual Net Sales Baseline will be in the form of a payment from Reliant to Novartis within ninety (90) days of receipt of Novartis’ written notice referred to in the preceding sentence and will not be subject to limitations applicable to payments by Reliant to Novartis under Article 6.3. Such reduction shall be Novartis’ exclusive remedy for breach by Reliant of its obligations under this Article 4.5(a); provided, however that this limitation shall not apply in the event that (i) the contractually committed PSME in the first Agreement Half Year of Agreement Year 2005 (January 1 through June 30) is less than [***] dollars ($[***]) and/or (ii) the PSME Shortfall Amount is greater than [***] dollars ($[***]). Novartis shall have no obligation to reimburse Reliant for PSME for Agreement Year 2005.
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Agreement Year 2005. Within forty-five (45) days after the close of each six (6) month period of Agreement Year 2005, appropriate representatives of Reliant shall meet with appropriate representatives of Novartis. At least five (5) days before such meeting, Reliant will present to Novartis a written status report summarizing Reliant’s activities pursuant to this Agreement for that prior six (6) month period, including (a) Sales Representative and field manager turnover, (b) the total number of Sales Calls, (c) the number of days in the field per Sales Representative, (d) the number of calls per day per Sales Representative, (e) the number of Details per Sales Call, (f) the ratio of Sales Calls to targeted Professionals compared to total Sales Calls, (g) the percentage of targeted Professionals actually Detailed and (h) if applicable, a summary of all other Alternative Sales Channels activities engaged in by Reliant in order to support fully the Promotion Effort pursuant to this Article IV.
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Agreement Year 2005. Within forty-five (45) days after the close of each six (6) month period of Agreement Year 2005, appropriate representatives of Reliant shall meet with appropriate representatives of Novartis. At least five (5) days before such meeting, Reliant will present to Novartis a written status report summarizing Reliant’s activities pursuant to this Agreement for that prior six (6) month period, including [***].
Sample 1

Related to Agreement Year 2005

  • Year 2000 The Borrower has made a full and complete assessment of the Year 2000 Issues and has a realistic and achievable program for remediating the Year 2000 Issues on a timely basis (the "Year 2000 Program"). Based on such assessment and on the Year 2000 Program the Borrower does not reasonably anticipate that Year 2000 Issues will have a Material Adverse Effect.

  • CONTRACT YEAR The first Contract Year is the period of time ending on the first contract anniversary. Subsequent Contract Years are the annual periods between contract anniversaries.

  • Calendar Year The term “

  • Quarterly Bonus The Employee shall be eligible to be paid a quarterly bonus earned in accordance with the terms set forth on Exhibit 3.2.

  • Annual Operating Plan Manager shall implement the Operating Plan prepared by Owner. The Operating Plan shall constitute a standard to which Manager shall reasonably attempt to adhere in the operation of the Project; provided, however, as the Operating Plan is a budget, Manager makes no representation or warranty that the actual operations of the Project shall conform to such plan. Except in an emergency, Manager shall not expend funds in any fiscal year in excess of the budgeted line item amounts in the Operating Budget without Owner's prior written approval. In the event any Fiscal Year shall commence without an approved Operating Plan, until the Operating Plan for such Fiscal Year is approved, Manager shall be entitled to make expenditures for items specified in the approved Operating Plan for the past Fiscal Year, at a rate not in excess of the rate permitted under that prior Operating Plan (other than for utilities, taxes, insurance premiums and mortgage payments), without the prior consent of Owner.

  • Fiscal Year; Fiscal Quarter The Borrower shall not change its fiscal year or any of its fiscal quarters, without the Administrative Agent’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively, of each year.

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • Year 2000 Problem The Company and its Subsidiaries have reviewed the areas within their business and operations which could be adversely affected by, and have developed or are developing a program to address on a timely basis, the "Year 2000 Problem" (that is, the risk that computer applications used by the Company and its Subsidiaries may be unable to recognize and perform properly date-sensitive functions involving certain dates prior to and any date after December 31, 1999). Based on such review and program, the Company reasonably believes that the "Year 2000 Problem" will not have a Material Adverse Effect.

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