Annual Minimum Payments. During the initial term of this Agreement Windsong shall pay the Company a Minimum Annual Payment. Annual Minimum shall be paid in quarterly payments on January 1, April 1, July 1, and October 1 of each Annual Period. The Annual Minimum for the First Annual Period shall be [***] and thereafter shall be [***]. Thereafter the Annual Minimum payment shall be [***]. [***] Confidential treatment requested. Omitted portions have been filed separately with the Commission.
Annual Minimum Payments. Subject to Section 9 hereof, if as of each anniversary of the Effective Date during the Term, the total amount of Fees that Producer has paid or has been obligated to pay A-B during the immediately preceding 12-month period (a "Total Fees Amount") is less than $225,000 ("Annual Minimum Amount"), then within 15 days after such Producer receives notice from A-B, Producer will pay to A-B an amount equal to the Annual Minimum Amount minus the Total Fees Amount. At Producer's request, A-B shall provide evidence supporting the amount. Notwithstanding, if the Facility has not operated for twelve consecutive months due to a Force Majeure Event, then Producer shall not be obligated to pay any Annual Minimum Amount for periods after the twelve consecutive months.
Annual Minimum Payments. Subject to Section 9 hereof, if on each anniversary of the Effective Date, the total amount of the Marketing Fee retained by Bunge during the immediately preceding 12-month period (a "Total Fee Amount") is less than $750,000 ("Annual Minimum Amount"), then within 15 days after such anniversary, Producer will pay to Bunge an amount equal to the Annual Minimum Amount minus the Total Fee Amount.
Annual Minimum Payments. On or at any time within ninety (90) days of the parties’ execution of this Agreement, (the “Effective date”), NCG shall pay to Owner the sum of twenty thousand dollars ($20,000.00). Following the Effective Date, NCG shall pay the following Minimum Payments to Owner: First anniversary of Effective Date $ 20,000 Second anniversary of Effective Date $ 20,000 Third anniversary of Effective Date $ 20,000 Fourth anniversary of Effective Date $ 20,000 Fifth anniversary of Effective Date $ 20,000 Sixth and any succeeding anniversary of the Effective Date $ 20,000 None of the above Annual Minimum Payments provided in this Section shall not be credited against the Purchase Price if NCG elects to exercise the Option. NCG shall not be obligated to pay the Annual Minimum Payments referenced above, after the exercise and closing of the Option To Purchase.
Annual Minimum Payments. On the parties’ execution of this Agreement, NCG shall pay to Owner the sum of fifteen thousand dollars ($15,000.00) following the Effective Date, NCG shall pay the following Minimum Payments to Owner: First anniversary of Effective Date $ 15,000 Second anniversary of Effective Date $ 20,000 Third anniversary of Effective Date $ 20,000 Fourth anniversary of Effective Date $ 25,000 Fifth anniversary of Effective Date $ 25,000 Sixth and any succeeding anniversary of the Effective Date $ 40,000 The initial payment and the Minimum Payments provided in this Section shall not be credited against the Purchase Price if NCG elects to exercise the Option. NCG shall be obligated to pay the Minimum Payments after the exercise and closing of the Option and Minimum Payments paid after closing of the Option shall be credited against the Royalty payable in accordance with the Deed.
Annual Minimum Payments. GWC acknowledges that Transphorm is willing to grant the licenses set forth herein subject to GWC [***]. If Royalties paid for any calendar year do not meet or exceed [***], then GWC shall pay the difference between amounts actually paid to Transphorm for the applicable year and the [***] within [***] days of the end of the applicable year.
Annual Minimum Payments. The Manager will guarantee the City a total Annual Minimum Payment of $100,000 each year pursuant to §5.1, regardless of performance, and will make $20,000 in aggregate investments into the facility by June 1, 2018. No commission credits may be used to reduce commission payments to below the Annual Minimum Payment.
Annual Minimum Payments. Beginning one year after the Licensee or any Sublicensee receives NDA approval on its first Licensed Product, it the total payments actually paid to University payments (including any payments required pursuant to this Article III) for any annual period are less than $400,000, Licensee shall pay University an amount (the “Annual Minimum Royalty”) for that annual period equal to the difference between the payments actually paid for such annual period and the Annual Minimum Royalty owing for that annual period. Such payment shall be made within forty five days of the end of each year of this Agreement beginning one year after the Licensee receives NDA approval on its first Licensed Product. If this Agreement is terminated by Licensee for any reason during any year, a pro-rata Annual Minimum Royalty shall be paid.
Annual Minimum Payments. (a) Before First Commercial Sale: Company shall pay to Licensor an aggregate non-creditable, non-refundable annual minimum fee of [***] per year starting in the calendar year in which a Phase 1 Study is initiated for an Antibody that [***], which shall be pro-rated for the first calendar year.
(b) After First Commercial Sale: Company shall pay to Licensor an aggregate annual minimum royalty of [***] per year starting in the calendar year in which First Commercial Sale occurs, which shall be pro-rated for the first calendar year for the period after the First Commercial Sale, and continuing for the next five (5) full calendar years. Starting in the sixth full calendar year following the First Commercial Sale, Company shall pay to Licensor an aggregate annual minimum royalty of [***] for remainder of the Royalty Term. In each instance, earned royalties during a calendar year shall be credited against the annual minimum royalty and any remaining portion of the annual minimum royalty shall be paid as a year-end true-up within sixty (60) days after the end of such calendar year, as applicable. Solely by way of example, if the First Commercial Sale occurred on June 30, -2025, Company will pay to Licensor the following annual minimum royalties for the Royalty Term: [***], for remainder of the Royalty Term.
Annual Minimum Payments. If the total amount of Agency Fees paid by Producer during a calendar year (a “Total Fee Amount”) is less than $* (“Annual Amount”), then on or before January 15 of the immediately following year, Producer will pay to Bunge an amount equal to the Annual Amount minus the Total Fee Amount. As of the date during a calendar year (if any) that the Total Fee Amount aggregates an amount equal to the Annual Amount, then after such date during such calendar year, Producer will not be obligated to pay any additional Agency Fees during the balance of such calendar year. Notwithstanding, if the Facility has not operated for twelve consecutive months due to a Force Majeure Event, then Producer shall not be obligated to pay any Annual Minimum Amount for periods after the twelve consecutive months. *OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT WHICH HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
