Minimum Annual Guarantee (MAG) Sample Clauses

Minimum Annual Guarantee (MAG). Each year, Tenant shall pay City the Minimum Annual Guarantee (the “MAG”) in the initial amount of One Hundred and Forty-Thousand Dollars ($140,000) per year, starting on the date when the Billboard is Operational (such date, the “Operational Date”) in accordance with the terms set forth in this Section 5.1. Term Rent Years 1-5 $140,000 annually Years 6-10 $154,000 annually Years 11-15 $165,000 annually Years 16-20 $185,000 annually
Sample 1
AutoNDA by SimpleDocs
Minimum Annual Guarantee (MAG). In addition to the lease rental payable in accordance with paragraph 8 above, the LESSEE, as a terminal operator, shall pay to LESSOR any and all tariffs, fees, costs, assessments, charges, surcharges, and any other payments required or otherwise applicable under Chapter 19-44 of the Hawaii Administrative Rules (hereinafter “Sand Island Container Facility tariff”) . In the event that the aggregate amount of charges incurred by the LESSEE for services provided by the LESSOR pursuant to the Sand Island Container Facility tariff in any year commencing with the effective date of this lease and for each subsequent year thereafter, is less than the minimum annual guaranteed amount of FOUR HUNDRED FIFTY FOUR THOUSAND THREE HUNDRED TEN AND NO/100 DOLLARS ($454 .310. 00 (the “MAG”), the LESSEE shall pay the LESSOR the difference between such amounts incurred by the LESSEE based on the Sand Island Container Facility tariff and the MAG. If the amounts incurred by the LESSEE during one (1) calendar year of the lease term pursuant to the Sand Island Container Facility tariff exceeds the MAG, the LESSEE shall pay the total amount due pursuant to the Sand Island Container Facility tariff to the LESSOR with the LESSEE receiving credit for any MAG payments made during the lease year. The obligation to pay the MAG shall commence on the effective date of this lease. Prorated adjustments will be made for less than full years. Determination of the Sand Island Container Facility tariff shall be in accordance with the Hawaii Administrative Rules, Commercial Harbors and Tariff, as the same may be amended from time to time. In calculating and fixing the MAG, the MAG shall be equal to the sum of:
Sample 1
Minimum Annual Guarantee (MAG). The Contractor shall pay the following MAG amounts for each year of the Contract: Contract Year 1 Contract Year 2 Contract Year 3 Contract Year 4 Contract Year 5 TOTAL One-twelfth (1/12) of the minimum annual guarantee for that Contract Year shall be paid in advance and without demand on the first day of each calendar month during the Period of the Contract. For any period of less than one calendar month, the minimum annual guarantee shall be pro rated. Said minimum annual guarantee shall be deemed delinquent if payment is not received by the tenth (10th) calendar day of the month.
Sample 1
Minimum Annual Guarantee (MAG). The MAG and the Annual Revenue Share for each Fiscal Year of the Agreement are set forth in Table 8.1.1 below. Table 8.1.1: MAG Amount and Revenue Share Percentage Fiscal Year Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Total Rev. Share % 2009 -2100 $300,000 $340,660 $370,434 $380,169 $380,169 $314,242 $217,532 $234,477 $352,274 $333,013 $366,315 $410,717 $4,000,000 65% 2010 -2011 $349,664 $348,630 $431,252 $384,946 $384,946 $329,954 $228,409 $246,200 $369,887 $357,693 $357,693 $374,724 $4,200,000 65%' 2011 -2012 $367,147 $403,862 $452,815 $404,193 $404,193 $346,451 $239,830 $258,510 $388,382 $375,578 $375,578 $393,461 $4,410,000 65% 2012 -2013 $385,505 $424,055 $475,456 $424,403 $424,403 $363,774 $251,821 $271,436 $407,801 $394,357 $394,357 $413,134 $4,630,500 65% 2013 - 2014 $404,780 $445,258 $499,229 $445,623 $445,623 $381,963 $264,412 $285,008 $428,191 $414,074 $414,074 $433,790 $4,862,025 65%
Sample 1
Minimum Annual Guarantee (MAG). The minimum revenue the Contractor shall pay to the County annually. Firms proposing revenues in excess of the MAG should consider that the net revenue will be defined as gross revenue less agency commissions, if any, from sale of advertising on the exterior and interior of Votran buses.
Sample 1
Minimum Annual Guarantee (MAG). The MAG amount for the corresponding year of the Agreement as set forth in Section 7.4 shall be paid to the County on a monthly basis, within twenty (20) days after the end of the month, in an amount equal to 1/12th of the MAG. Such payment shall be accompanied by a monthly report of year-to-date (YTD) gross and net revenues and commissions paid, if any, including a detail of gross and net bus advertising revenues, invoices, and collections from the prior month as charged to and collected from each client, any and all advertising commissions, if any, paid from gross revenues collected from each client, and any other information the County may deem relevant for its accounting purposes. Within ten (10)business days after the parties’ execution of this Agreement or by October 1, 2018 whichever occurs later, (i) County shall have commenced the process of either assigning or causing the incumbent advertising sales and services provider (“the Incumbent”) to assign to Contractor all executed but yet to be performed advertising contracts for the display of advertising on the interior or exterior of Votran buses (the “Existing Advertising Contracts”), including, but not limited to, those contracts listed on Attachment 1 attached hereto, and (ii) Contractor shall pay to County one hundred percent (100%) of the final commission due to the Incumbent upon expiration of the Incumbent’s “Advertising Sales and Services for Votran” contract with the County (“Incumbent’s Contract”), such final commission being defined and calculated as twenty percent (20%) of the gross advertising revenue from any such Existing Advertising Contracts, which contracts extend beyond the expiration of the Incumbent’s Contract, plus all unamortized production costs of such advertising contracts. Any revenue generated by such Existing advertising contracts that exceeds the amount of the final commission due to the Incumbent will become part of the revenue calculations and obligations for the new Agreement, including, but not limited to, the Minimum Annual Guarantee and percentage payments. Contractor shall stop selling advertising by August 31st of the last year of this Agreement (i.e., the expiration year) and provide the County with a list of advertising contracts that will extend beyond the expiration of this Agreement no later than September 15th of such expiration year. Upon the expiration of this Agreement and if Contractor is not selected by the County to enter into a new contract to be th...
Sample 1
Minimum Annual Guarantee (MAG). The Tenant shall pay the MAG amount for each Contract Year as identified below. One-twelfth (1/12) of the MAG for each Contract Year shall be paid in advance and without demand on the first day of each calendar month during the Lease. For any period of less than one (1) calendar month, the MAG shall be prorated. Said MAG shall be deemed delinquent if payment is not received by the tenth (10th) calendar day of the month. Contract Year 1 $90,000 (further defined herein) Contract Year 2 $120,000 Contract Year 3 $120,000 Contract Year 4 $120,000 Contract Year 5 $120,000 Contract Year 6 $120,000 Contract Year 7 $120,000 Contract Year 8 $120,000 Contract Year 9 $120,000 Contract Year 10 $120,000 TOTAL $1,170,000 For Contract Year 1, the one-twelfth MAG installment payment for the first six (6) months will equal $5,000.00 per month. Thereafter and for the remainder of the Term, the one-twelfth MAG installment payment will equal $10,000 per month. Notwithstanding anything herein to the contrary, at no time during the Term shall Tenant pay not less than the MAG for the applicable Contract Year.
Sample 1
AutoNDA by SimpleDocs

Related to Minimum Annual Guarantee (MAG)

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • 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.

  • Minimum Debt Service Coverage Ratio Commencing September 30, 2025, and as of the last day of each calendar quarter thereafter, the Borrowers will not permit the Debt Service Coverage Ratio to be less than 1.25 to 1.00.

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Minimum Adjusted EBITDA As of any date of determination from and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve Adjusted EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): Applicable Amount Applicable Period $(1,234,000) For the 3 month period ending March 31, 2008 $(1,246,000) For the 6 month period ending June 30, 2008 $(200,000) For the 9 month period ending September 30, 2008 $(839,000) For the 12 month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter

  • Minimum EBITDA Section 9.23(c) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

  • Minimum Current Ratio Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Minimum Debt Service Coverage The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarter.

  • Minimum Fixed Charge Coverage Ratio The Borrowers shall not permit the Fixed Charge Coverage Ratio to be less than 1.05 to 1.00, measured as of the last day of each Fiscal Quarter for the prior four fiscal quarters subject to adjustments to such measurement period as set forth in the definition of Fixed Charge Coverage Ratio.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!