Milestone Payment. If at any time the Licensee’s gross sales of Products under the Brands exceeds Twenty-Five Million Dollars ($25,000,000), then Licensee shall pay to Licensor a one-time cash milestone payment equal to One Million Dollars ($1,000,000), payable within thirty days of the end of the first fiscal year in which such gross sales are achieved.
Appears in 2 contracts
Samples: Brand Licensing Agreement, Brand Licensing Agreement (Minerco Resources, Inc.)
Milestone Payment. If at any time the Licensee’s gross net sales of Products under the Brands exceeds Twenty-Five Twenty Million Dollars ($25,000,00020,000,000), then Licensee shall pay to Licensor a one-time cash milestone payment equal to One Million Dollars ($1,000,000), payable within thirty days of the end of the first fiscal year in which such gross net sales are achieved.
Appears in 1 contract
Samples: Brand Licensing Agreement (Minerco Resources, Inc.)
Milestone Payment. If at any time the Licensee’s gross net sales of Products under the Brands exceeds Twenty-Five Twenty Million Dollars ($25,000,00020,000,000), then Licensee shall pay to Licensor a one-time cash milestone payment equal to One Million Dollars ($1,000,000), payable within thirty days of the end of the first fiscal year in which such gross net sales are achieved. 5.
Appears in 1 contract
Samples: Brand Licensing Agreement
Milestone Payment. If at any time the Licensee’s gross sales of Products under the Brands Brand exceeds Twenty-Five Million Dollars ($25,000,0005,000,000), then Licensee shall pay to Licensor a one-time cash milestone payment equal to One Million Two Hundred and Fifty Thousand Dollars ($1,000,000250,000), payable within thirty days of the end of the first fiscal year in which such gross sales are achieved.
Appears in 1 contract
Samples: Brand Licensing Agreement (Minerco Resources, Inc.)
