GSM Handsets, Etc Sample Clauses

GSM Handsets, Etc. In addition to the payments referred to elsewhere in this Article 8, Company shall pay to Manager for purposes of Manager's costs and expenses an amount equal to twelve percent (12%) of the GSM Adjusted Gross Profit (as defined below) generated directly from the Company's Business's directly from the sales of GSM Handsets in the Territory (the "Operating Expense Payment"). For purposes of this Section 8.1, "GSM Adjusted Gross Profit" shall mean the actual net selling prices received by the Business for the sale of GSM Handsets, less direct material, direct labor, provisions for obsolescence, inventory losses (including, but not limited to, theft, damage and shrinkage), inbound and outbound freight, handling, shipping, warehousing, insurance, letter of credit and bank fees, fully or partially collectible invoices and any other direct cost of goods sold or cost of sale expenses for the sale of such products and/or services; provided, however, that for the avoidance of doubt the Operating Expense Payment, financing charges, costs relating to Hannu Ruoppa and "Sales, General & Administrative Expenses" shall not xx xxxxxxxx in such costs for the purpose of calculating the GSM Adjusted Gross Profit used for the purpose of calculating the Operating Expense Payment. The Operating Expense Payment amount shall be paid by Company to Manager on a monthly basis by the fifteenth (15th) day of each month, with the particular payment in question to be based on the GSM Adjusted Gross Profit generated during the immediately preceding month.