Minimum Annual Consideration Sample Clauses

Minimum Annual Consideration. In order to maintain this exclusive license to the LINE, LICENSEE shall pay to SYSTEM minimum annual consideration as follows:
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Minimum Annual Consideration. In order to maintain this exclusive license to PATENT RIGHTS, INHIBITEX shall pay to SYSTEM Minimum Annual Consideration in accordance with the following schedule: Calendar Years 2002 and 2003 $20,000.00 Calendar Year 2004 and every year thereafter through the expiration of the Agreement $25,000.00 In the event that the requirement for the Minimum Annual Consideration comes due before first NET SALES are recorded, then the Minimum Annual Consideration for the subject Calendar Year shall be waived as long as INHIBITEX is providing research support of like amount to the SYSTEM for the same Calendar Year. Once NET SALES begins, in the event that INHIBITEX does not achieve any NET SALES during any specified Calendar Year, or that running royalties for the Calendar Year do not achieve the required minimum, INHIBITEX's royalty payment for the last quarter of the Calendar Year shall include payment of the balance needed to achieve the Minimum Annual Consideration for the Calendar Year. In the event that this Agreement expires of is terminated prior to the end of a Calendar Year, the Minimum Annual Consideration shall be prorated for that year.
Sample 1
Minimum Annual Consideration. In order to maintain this exclusive license to PATENT RIGHTS and LICENSED TECHNOLOGY, ORAGENICS must pay SYSTEM minimum annual consideration according to the following schedule:
Sample 1
Minimum Annual Consideration. In order to maintain this exclusive license to PATENT RIGHTS, LICENSEE shall pay SYSTEM a Minimum Annual Consideration in accordance with the following schedule: ------------------------------------------------------------------------------- Period Amount ------------------------------------------------------------------------------- 1st Calendar Year after sales are recorded [$[***]] ------------------------------------------------------------------------------- 2nd Calendar Year after sales are recorded [$[***]] ------------------------------------------------------------------------------- 3rd and all subsequent Calendar Years of the Agreement after sales are recorded [$[***]] ------------------------------------------------------------------------------- In the event that royalties for the Calendar Year do not achieve the required minimum, LICENSEE's royalty payment for the last quarter of the Calendar Year shall include payment of the balance needed to achieve the Minimum Annual Consideration for the Calendar Year.
Sample 1
Minimum Annual Consideration. In order to maintain this exclusive license to PATENT RIGHTS, LICENSEE shall pay SYSTEM a Minimum Annual Consideration in accordance with the following schedule: [***] In the event that royalties for the Calendar Year do not achieve the required minimum, LICENSEE's royalty payment for the last quarter of the Calendar Year shall include payment of the balance needed to achieve the Minimum Annual Consideration for the Calendar Year.
Sample 1
Minimum Annual Consideration. In order to maintain this license to PATENT RIGHTS, LICENSEE must pay S&W minimum annual consideration according to the following schedule:
Sample 1

Related to Minimum Annual Consideration

  • Total Consideration The aggregate consideration (the "Consideration") payable by the Surviving Partnership in connection with the merger of the Merged Partnership with and into the Surviving Partnership shall be $8,275,000, subject to adjustments at Closing pursuant to Section 3.9 and costs paid pursuant to Section 3.10(c) and Section 3.11, plus the amount of any tax or other reserves held by the Existing Lender (hereinafter defined).

  • Minimum Annual Royalty During the TERM of this SUB-LICENSE, ADAPTIMMUNE shall pay to LTC a non-refundable minimum annual royalty (“MINIMUM ANNUAL ROYALTY”) of: (a) *** dollars ($***) for each full or partial calendar year during which there is no APPROVAL OBTAINED for any LICENSED T CELL PRODUCT, and (b) for the first full calendar year following the date that there is APPROVAL OBTAINED and thereafter, a non-refundable MINIMUM ANNUAL ROYALTY that is equal to fifty percent (50%) of ADAPTIMMUNE’s earned running royalties for the sale by ADAPTIMMUNE and its AFFILIATES of such LICENSED T CELL PRODUCTS in the previous calendar year. The MINIMUM ANNUAL ROYALTY will be fully-creditable against running royalties due and payable by ADAPTIMMUNE and its AFFILIATES on account of running royalties under Section 4.3 for the applicable calendar year for which such MINIMUM ANNUAL ROYALTY relates, but shall not be creditable against any MILESTONE PAYMENTS (defined at Section 4.4) made at any time. Any difference between the MINIMUM ANNUAL ROYALTY due for a particular calendar year, and the running royalties due and payable for such calendar year, will be paid along with the royalty payment and royalty report due for the fourth (4th) quarter of each calendar year (e.g. within forty-five (45) days of each December 31) in accordance with Section 4.6. For clarification purposes, MINIMUM ANNUAL ROYALTIES are not refundable in whole or in part.

  • Initial Consideration On the Effective Date, Retrocessionaire shall reimburse Retrocedant for one hundred percent (100%) of any and all unearned premiums paid by Retrocedant under such Inuring Retrocessions net of any applicable unearned ceding commissions paid to Retrocedant thereunder.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • Additional Consideration Retrocessionaire agrees to pay under the Inuring Retrocessions all future premiums Retrocedant is obligated to pay pursuant to the terms of the Inuring Retrocessions to the extent that such premiums are allocable to Retrocessionaire in the manner set forth in Exhibit E hereto, and not otherwise paid by Retrocessionaire and to indemnify Retrocedant for all such premiums paid directly by Retrocedant, net of any ceding commissions and similar amounts paid by Third Party Retrocessionaires to Retrocedant.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • Option Consideration (a) (i) Owner hereby grants to the Operating Partnership an option (the “Option”) to acquire Owner’s interest in the leasehold estate created by the Ground Lease and all hereditaments thereto and all of Owner’s assets (other than Excluded Assets) as of the Valuation Date (collectively, the “Assets”) for the Consideration determined in accordance with Section 2(b), subject to closing adjustments as provided herein.

  • Additional Considerations For each mediation or arbitration:

  • Cash Consideration In case of the issuance or sale of additional Shares for cash, the consideration received by the Company therefor shall be deemed to be the amount of cash received by the Company for such Shares (or, if such Shares are offered by the Company for subscription, the subscription price, or, if such Shares are sold to underwriters or dealers for public offering without a subscription offering, the public offering price), without deducting therefrom any compensation or discount paid or allowed to underwriters or dealers or others performing similar services or for any expenses incurred in connection therewith.

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

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