Beginning on the earlier of (a Sample Clauses

Beginning on the earlier of (a the first year in which a commercial sale is made or (b) [***] as from the EFFECTIVE DATE, a statement of the NET SALES will be provided by COBALT to PULSALYS related to the AGREEMENT, which shall include: • the AGREEMENT number [***]; • the NET SALES per country for each PRODUCT made by COBALT, its AFFILIATES and its SUB-LICENSEES; • the applicable royalty rate; • the amount of SUBLICENSE INCOME and percentage due to PULSALSYS • the calculation of the sums payable to PULSALYS. Regarding Development and Sales Milestones payable to PULSALYS under the Article 6.2 of the AGREEMENT, COBALT shall notify PULSALYS of the achievement of the Development Milestones Event within [***] following their performance and shall specify the respective amount payable to PULSALYS. For each year after the first statement as provided above, a statement of the NET SALES shall be sent to PULSALYS within [***] of the closing date of the accounts for that year. This statement will be certified by a responsible representative of COBALT within [***] of the closing date of the accounts, and delivered to the following address: [***] After [***] following the EFFECTIVE DATE , in the event that no NET SALES have been realised, COBALT shall nonetheless send to PULSALYS, within [***] of COBALT’s closing date, a provisional statement certified by a responsible representative of COBALT certifying the absence of any NET SALES during the year in question and shall state the reasons for the absence of any NET SALES.
Sample 1
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Related to Beginning on the earlier of (a

  • Beginning October 1, 2020, and ending October 1, 2022, the Recipient and its Affiliates shall not pay any of the Recipient’s Corporate Officers or Employees whose Total Compensation exceeded $425,000 in calendar year 2019 (other than an Employee whose compensation is determined through an existing collective bargaining agreement entered into before December 27, 2020):

  • 360-Day Year Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed.

  • Month A period commencing at 10:00 a.m., Eastern Standard Time, on the first Day of a calendar month and extending until 10:00 a.m., Eastern Standard Time, on the first Day of the next succeeding calendar month. Monthly shall have the correlative meaning.

  • FIFTEENTH (A) This Agreement may be terminated with respect to the Shares of any Portfolio, at any time, without the payment of any penalty, by vote of the Board of Trustees or Board of Directors of the Fund or by vote of a majority of the outstanding Shares of such Portfolio, or by the Distributor, on sixty (60) days' written notice to the other party; and

  • December If the Employee’s employment commences or terminates part way through a holiday year, the Employee's entitlement during that holiday year shall be calculated on a pro rata basis rounded up to the nearest whole day.

  • Computation; 360-Day Year In computing interest, the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension. Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed.

  • Day A period commencing at 10:00 a.m., Eastern Standard Time, on a calendar day and ending at 10:00 a.m., Eastern Standard Time, on the next succeeding calendar day. Daily shall have the correlative meaning.

  • Allocations During the Early Amortization Period During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-1 Certificateholders, such amount shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Tax Periods Ending on or Before the Closing Date Buyer shall prepare or cause to be prepared and file or cause to be filed all Tax Returns for the Company and the Company Subsidiary for all periods ending on or prior to the Closing Date which are required to be filed (taking into account all extensions properly obtained) after the Closing Date.

  • 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.

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