Annual Rental and Minimum Royalty Payments Sample Clauses

Annual Rental and Minimum Royalty Payments. Company will be responsible for contributing a portion of any annual rental or minimum royalty payment(s) that comes due and payable, for the Lease(s) it is assigned as provided herein commencing on the effective date of each such assignment. The share of the payment(s) Company will owe is twenty-five percent (25%) of the amount due, unless Chevron has no operating rights interest in any of the wells then producing of the Lease(s), in which case Company and any Xxxxx Parties will bear their proportionate share of the entire payment due and Chevron will bear no share of said payment. This responsibility will continue until the first to occur of the following: (a) Company relinquishes its right to earn an interest in the affected Lease(s) in accordance with this Agreement or the applicable Operating Agreement, or (b) the Lease(s) terminates Chevron shall pay or cause to be paid the annual rental or minimum royalty payments on the Lease(s) Company agrees to contribute its proportionate share of such annual rental or minimum royalty payment(s within thirty (30) days after receipt of written notice from Chevron for same. However, pursuant to Section 9. 1 of this Agreement, Company, at its sole option and discretion, will have the right to relinquish to Chevron it rights in the Lease(s) and thereby relieving itself of its obligation to reimburse Chevron. Should Company elect to relinquish its interest to Chevron, but fail to provide Chevron with the required notice under Section 9.1 of this Agreement, Company will remain liable for the next ensuing annual rental or minimum royalty payment of which proper notification was not received. Chevron shall not be liable for failure to make a proper payment during the time in which it is responsible for doing so, but agrees to use the same degree of care used in making such payments under its other leases. Thy termination of this Agreement will not relieve Company of its obligations to contribute to any payments so made during the period this Agreement was in effect, and during the period that said Lease(s) is subject to this Agreement, the right of such termination to be an additional right reserved by Chevron and not a limitation of at of Chevron's rights herein.
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Related to Annual Rental and 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.

  • Minimum Monthly Rent 3.1.1 Tenant agrees to pay to Landlord a Minimum Monthly Rent, initially in the amount set forth in the Basic Provisions, during each month of the Term of this Lease. Minimum Monthly Rent for a period constituting less than a full month shall be prorated on the basis of a thirty (30)-day month.

  • Royalty Payments (i) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.

  • Minimum Rental Beginning with the Commencement Date and continuing through the Expiration Date or earlier termination of this Lease, Tenant shall pay Minimum Rental in accordance with the schedule set forth in Section 1(g) in equal monthly installments each in advance on or before the first day of each month. If the Commencement Date is a date other than the first day of a calendar month, the Minimum Rental shall be prorated daily from such date to the first day of the next calendar month and paid on or before the Commencement Date.

  • Earned Royalties Subject to of Article 7 hereof, Licensee shall pay to Licensor for the rights granted hereunder a sum equal to one and [*****] of the Net Invoice Value of Trademarked Products Sold by Licensee (the "Royalties"). The Royalties shall be remitted in accordance with Section 7.4 of this Agreement. 6.2

  • Minimum Rent The defined term “Minimum Rent” set forth in Section 1.66 of the Lease is deleted in its entirety and replaced with the following:

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • 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.

  • 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:

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