Common use of Duration of Payments to NYSERDA Clause in Contracts

Duration of Payments to NYSERDA. The Contractor’s obligation to make payments to NYSERDA shall extend (i) from the date the Contractor first receives Sales Revenue or Licensing Revenue and continue for a period of fifteen (15) years thereafter; or (ii) until the amount paid by Contractor to NYSERDA attributable to actual Sales Revenue or Licensing Revenue from the Product is equal to one times the amount of funds actually paid by NYSERDA to the Contractor under this Agreement; whichever occurs first.

Duration of Payments to NYSERDA. The Contractor’s obligation to make payments to NYSERDA shall extend (i) from the date the Contractor first receives Sales Revenue or Licensing Revenue and continue for a period of fifteen (15) years thereafter; or (ii) until the amount paid by Contractor to NYSERDA attributable to actual Sales Revenue or Licensing Revenue from the a New York State Product is equal to one times the amount of funds actually paid by NYSERDA to the Contractor under this Agreement; whichever occurs first.or