Guaranteed Minimum Payments. LICENSEE agrees that each minimum annual payment under paragraph 4 of Article VI shall become a present obligation of LICENSEE to LICENSOR on the first day of each Market Year; and LICENSEE agrees that such minimum amounts are to be paid to LICENSOR together with the remittance made for the last accounting period of the applicable Market Year, in the event earned royalties for such Market Year do not reach the minimum amount set forth.
Guaranteed Minimum Payments. NextCard shall make guaranteed minimum payments against the Account Fee within thirty (30) days after the end of each month in the amounts set forth in the table below (the "Minimums"). Of each Minimum, a dollar amount equal to [*] times the New Co-Branded Account Goal for the given month shall be paid directly to Amazxx.xxx. Xx in any given month, the new Co-Branded Accounts opened exceed that month's New Account Goal, then NextCard shall pay Amazxx.xxx xxx Minimum plus the Account Fee for each Co-Branded Account opened in excess of that month's New Account Goal. Payment of Minimums, but not the Account Fees, shall cease upon the earlier of (i) the termination of the Initial Term (unless the Parties agree otherwise), or (ii) the date on which the cumulative New Co-Branded Account Goals for the Initial Term are met (and, if such date occurs in the middle of a month during the Initial Term, a pro-rata Minimum shall apply for such month). No Account Fees above the monthly minimum shall be paid in any given month if the total of all payments made in connection with this Agreement by NextCard to Amazxx.xxx xxxided by [*] is greater than the total of all Co-Branded Accounts originated up through the date on which such calculation is performed divided by [*]. As an example, if the monthly account goals for a four month period were [*] each month, and the actual accounts achieved were [*] then the payments would be for [*] accounts respectively. As an additional example, if the monthly account goals for a four month period were [*] each month, and the actual accounts achieved were [*] then the payments would be for [*] accounts respectively.
Guaranteed Minimum Payments. (a) To retain its license hereunder, LICENSEE shall pay to LICENSOR, as minimum annual payments, no less than the amounts set forth below: (i) For the first Market Year, [ ];
Guaranteed Minimum Payments. The Company shall have made all necessary arrangements for payment at or promptly following the Closing the Designated Stockholder Payment in accordance herewith, and evidence thereof reasonably satisfactory to the Buyer shall have been delivered to the Buyer.
Guaranteed Minimum Payments. (a) Subject to Section 4.5(b), in the event that MCI WorldCom's Total Net Cumulative MCI WorldCom Subscribers at the expiration of each quarter does not exceed the Guaranteed Subscribers for that quarter, as set forth in Schedule 1.7, Metricom shall invoice, and MCI WorldCom shall remit payment of the monthly fees, for the total number of Guaranteed Subscribers for such quarter.
(b) Metricom expects that the number of MCI WorldCom Subscribers will be less than [...***...] of the total number of Subscribers. If the number of MCI WorldCom Subscribers during any Agreement Year exceeds [...***...] of the total number of Subscribers, then MCI WorldCom's payment obligations under this Section 5.2 for such Agreement Year shall be the lesser of (i) the total amount received by Metricom from Subscribers other than MCI WorldCom
Guaranteed Minimum Payments. (a) To retain its license hereunder, LICENSEE shall pay to LICENSOR, as minimum annual payments, no less than the amounts set forth below:
(i) For the first Market Year, [ ];
(ii) For the second Market Year, the amount shall be [ ] of the royalty actually earned during the first Market Year;
(iii) For the third Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the second Market Year;
(iv) For the fourth Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the third Market Year;
(v) For the fifth Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the fourth Market Year;
(vi) For the sixth and each ensuing Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the fifth Market Year.
(vii) Payments shall be payable in accordance with paragraph 3 of Article VII.
(b) In the event LICENSEE does not pay the minimum annual amounts as aforesaid, LICENSOR shall have the right to terminate the license granted hereunder; provided, however, that if LICENSEE shall have paid
Guaranteed Minimum Payments. (a) For purposes of this Agreement, the following definitions shall apply:
Guaranteed Minimum Payments. 4.1 Subject to Section 5.4 herein below, Licensee shall pay to Ferrari the Guaranteed Minimum Payments set out in Schedule D, in accordance with the terms and conditions described therein.
4.2 The amounts due as Guaranteed Minimum Payments (plus VAT, if any due) shall be invoiced by Ferrari to Licensee.
4.3 Moreover, if at the end of each reference period referred to in Schedule D the Royalties actually accrued are lower than the Guaranteed Minimum Payment due for that reference period, the difference between the Guaranteed Minimum Payment and the Royalties actually accrued (the “Deductible Defect Amount”) shall be used to offset the Royalties payable by Licensee to Ferrari in the following reference Period in excess of the Guaranteed Minimum Payment due for that following reference period up to a maximum amount of * (e.g. if in reference period 01/01/2018 - 31/12/2018 Licensee accrues Royalties for *, due to the fact that the Guaranteed Minimum Payments for that reference period is *, the Deductible Defect Amount for the reference period is *; therefore if in the reference period 01/01/2019 - 31/12/2019 Licensee accrues Royalties for * and thus for a sum exceeding the Guaranteed Minimum Payment for such reference period by an amount of *, Licensee shall pay to Ferrari an amount of * as Royalties on top of the Guaranteed Minimum Payment due for such reference period- i.e. *, being entitled to deduct the entire Deductible Defect Amount). It remains understood that the Deductible Defect Amount may not be carried forward to reference periods different from the one following the reference period in which the Deductible Defect Amount was accrued.
Guaranteed Minimum Payments. (a) To retain its license hereunder, LICENSEE shall pay to LICENSOR, as minimum annual payments, no less than the amounts set forth below:
(i) For the first Market Year, [ ];
(ii) For the second Market Year, the amount shall be [ ] of the royalty actually earned during the first Market Year;
(iii) For the third Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the second Market Year;
(iv) For the fourth Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the third Market Year;
(v) For the fifth Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the fourth Market Year;
(vi) For the sixth and each ensuing Market Year, the amount shall be the greater of [ ] of the royalty actually earned during the fifth Market Year.
(vii) Payments shall be payable in accordance with paragraph 3 of Article VII.
(b) In the event LICENSEE does not pay the minimum annual amounts as aforesaid, LICENSOR shall have the right to terminate the license granted hereunder; provided, however, that if LICENSEE shall have paid minimum annual amounts under the license for a period of ten (10) years, then the license shall thereafter no longer be terminable by LICENSOR for failure to pay such minimum annual amounts; provided LICENSEE is not in any respect in default hereunder.
(c) Notwithstanding the foregoing, LICENSEE agrees that if it sells Licensed Products in any country under its exclusive license and subsequently withdraws such Licensed Products from sale in that country (except upon governmental requirement) and has no Commercial Sales therein for a period of one (1) year thereafter, LICENSOR may convert LICENSEE's exclusive license in that country to a nonexclusive license for such Licensed Products.
Guaranteed Minimum Payments. (a) Subject to Section 4.5(b), in the event that MCI WorldCom's Total Net Cumulative MCI WorldCom Subscribers at the expiration of each quarter does not exceed the Guaranteed Subscribers for that quarter, as set forth in Schedule 1.7, Metricom shall invoice, and MCI WorldCom shall remit payment of the monthly fees, for [ *** ].
(b) Metricom expects that the number of MCI WorldCom Subscribers will be less than [ *** ] of the total number of Subscribers. If the number of MCI WorldCom Subscribers during any Agreement Year exceeds [ *** ] of the total number of Subscribers, then MCI WorldCom's payment obligations under this Section 5.2 for such Agreement Year shall be the lesser of (i) the total amount received by Metricom from Subscribers other than MCI WorldCom Subscribers during such Agreement Year and (ii) the Guaranteed Subscriber revenue for the applicable Agreement Year.
(c) To the extent that MCI WorldCom makes payments to Metricom under Section 5.1 during an Agreement Year [ *** ] to Metricom under 5.2(a) during such Agreement Year, MCI WorldCom's aggregate obligation under Section 5.2(a) during subsequent -------------------- * Confidential Treatment Requested
