Guaranteed Royalty. (a) Nonni's agrees to pay a Guaranteed Royalty (defined below) per year on Net Sales of Royalty Bearing Products during the term as set forth on the following schedule: Year 1 $ 75,000 Year 2 350,000 Year 3 675,000 Year 4 675,000 Year 5 675,000 (b) The foregoing guaranteed payments shall be referred to herein as the "Guaranteed Royalty" and shall be due within 45 days of said twelve-month period.
Guaranteed Royalty. Broderbund guarantees that Licensor shall receive no ------------------ less than one hundred thousand dollars ($100,000) in royalties under this Agreement in the first full year of the Agreement (the "Guaranteed Royalty"). If after the first two full quarterly royalty periods, Licensor has not received $50,000 in royalties from Broderbund, Broderbund will pay the difference with the next quarterly royalty payment which shall be credited as an advance against future royalties. If after four full quarterly royalty periods, Licensor has not received $100,000 in royalties from Broderbund, Broderbund will pay the difference with the next quarterly royalty payment, which shall be credited as an advance against future royalties. The Guaranteed Royalty is non-refundable under all circumstances and is due regardless of termination of this Agreement, unless Licensor terminates the Agreement pursuant to Section 9.4 and in such case the Guaranteed Royalty paid to date is not refundable, but Broderbund shall not owe any Guaranteed Royalty not due and owing as of the date of termination.
Guaranteed Royalty. 4.2.2 The Guaranteed Royalty for each Sales Year shall be fully recoupable by Distributor from royalties earned by Riverdeep on Products during such year and for three additional months into the following Sales Year (for an aggregate recoupment period of 15 months); provided however, that if at the end of any Sales Year, Distributor has not fully recouped the Guaranteed Royalty for such Sales Year, then Distributor shall have 12 months from the first ship date of any Product that shipped in the last quarter of such Sales Year to recoup such Guaranteed Royalty from sales of such Products only; provided further, that if Riverdeep has failed to provide any Deliverable for a Product when due, then Distributor shall have 12 months from the first ship date of any such Product to recoup such Guaranteed Royalty from sales of such Products only from the Sales Year in which such Product was supposed to have shipped; and provided further, that Distributor shall have an additional 12-month period to recoup all Guaranteed Royalties from the sales of all of the Products upon the occurrence of the first Revision Event.
4.2.3 If, on any Adjustment Date, the decline in the NPD Index (i) from the beginning of the Sales Year under the Prior Agreement until the end thereof, or (ii) from the beginning of the first Sales Year hereunder until the end thereof, exceeds thirty (30%) percent, then Distributor shall be entitled to a credit against next succeeding installment of the Guaranteed Royalty for the Sales Year in which such Adjustment Date falls and each installment thereafter until such credit has been fully applied (or if the Term terminates due to a default by Riverdeep or expires, Distributor shall be entitled to a cash payment from Riverdeep in the amount of the Applicable Benchmark Credit for such year) in the amount of the Applicable Benchmark Credit on each such Adjustment Date. The "Applicable Benchmark Credit" means an amount equal to the product of the following variables:
Guaranteed Royalty. Distributor shall pay a guaranteed, irrevocable, non-refundable payment (recouped against royalties as hereinafter provided) for the Sales Year (as the same may be increased in accordance with this Section 4.2.1 below, the "Guaranteed Royalty") in the amount of $13,000,000. If and to the extent that, within sixty (60) days after the Commencement Date, Riverdeep receives third party consents from one or more licensors sufficient to enable it to license the Consent-Required Products to Distributor in accordance with the terms of this Agreement (collectively, "Third Party Consents"), then, Riverdeep shall notify Distributor as to the Consent-Required Products as to which it has received such Third Party Consent prior to the end of such 60-day period and upon the expiration of such period, Distributor shall increase the Guaranteed Royalty by an amount equal to the product of (i) $2,000,000, and (ii) the sum of the allocable percentages corresponding to those Consent-Required Products as to which Riverdeep has received such Third Party Consents by the end of such 60-day period. If a request for a Third Party Consent is denied by a licensor, the Product shall be removed from Exhibit A and the same shall not be deemed to constitute a Loss Event with respect thereto.
Guaranteed Royalty. Guaranteed Royalty" shall have the meaning given such term in Section 3.2(a)(ii) hereof.
Guaranteed Royalty. As consideration for the Agreements, Licensee will pay UTEP each Contract Year a guaranteed royalty ("Guaranteed Royalty") in the amount set forth below:
Guaranteed Royalty. The first term of this Agreement will consist of one (1) sixteen (16) month and two twelve (12) month periods. Licensee shall pay a guaranteed minimum trademark royalty ("Guaranteed Royalty") of $150,000 for the first License Year as follows: $15,000 upon the signing of this Agreement; and $135,000 in four (4) consecutive equal quarterly installments of $33,750 payable on the first day of each calender quarter commencing January 1, 1998. The Guaranteed Royalty for each subsequent License Year shall be payable in four (4) consecutive equal quarterly installments on the first day of each calender quarter during each such License Year as set forth in paragraph S.9 of the Schedule.
Guaranteed Royalty. Guaranteed royalty", as used herein, means the minimum amount of option price payment to be paid by Grantee to Grantor, on a date or on the dates specified herein, to guarantee specific annual payments to Grantor. Guaranteed royalty shall by payable in the specified amount where no production royalty has accrued during the calendar year. Where production royalty during the calendar year does not equal the guaranteed royalty requirement, then the balance of the guaranteed royalty shall be payable. When the production royalty during the year exceeds the guaranteed royalty, the excess production royalty shall be credited against future guaranteed royalties. The calendar year shall run from April 1st , 1986 to March 31st , 1987, and each year thereafter. Throughout the term of this option, Grantee shall pay annual guaranteed royalties to Grantor in quarterly payments as:
Guaranteed Royalty. The Guaranteed Royalty shall be 60% of the Target Royalty for a Contract Year: Guaranteed Royalty ------------------ Contract Year 1998 $1,407,000 Contract Year 1999 $1,455,000 Contract Year 2000 $1,503,000 Contract Year 2001 $1,551,000 Contract Year 2002 $1,559,000 Extension Years (if applicable): Contract Year 2003 $1,695,000 Contract Year 2004 $1,743,000 Contract Year 2005 $1,791,000 Contract Year 2006 $1,839,000 Contract Year 2007 $1,887,000
Guaranteed Royalty. Licensee guarantees to Wilsxx xxxt it will pay Wilsxx xxxing the Term royalties in amounts not less than the Guaranteed Royalty indicated in the Supplement for each Contract Year.
