Minimum Annual Guaranteed Fee Sample Clauses

Minimum Annual Guaranteed Fee. ‌ The MAG shall commence on the first day of the month following the DBO of the last concession location. For the first Lease Year the MAG will be $[Enter Amount], payable in equal monthly installments of $[Enter Amount]. Thereafter, for the 2nd Lease Year, the MAG shall be adjusted, effective April 1 to a new MAG amount which shall equal eighty-five percent (85%) of the annualized Concession Fee paid during the previous calendar year (the MAG calculation period). For the 3rd Lease Year and each subsequent Lease Year, the MAG amount will be adjusted, effective April 1 to a new MAG amount which shall equal eighty-five percent (85%) of the average of the annualized Concession Fee paid during the previous two (2) MAG calculation periods. Notwithstanding the foregoing, however, the MAG will never be less than the MAG for the first Lease Year.
Sample 1
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Minimum Annual Guaranteed Fee. The Minimum Annual Guaranteed Fee for each Agreement Year (and the equivalent amount for each month of the Agreement Year) shall mean the amounts set forth in Column #1 of Exhibit B that is attached to this Agreement (e.g., as of the Commencement Date, subject to this Agreement, for the first Agreement Year, the Minimum Annual Guaranteed Fee shall be [$ AMOUNT], which is equivalent to [$ AMOUNT] per month for the first Agreement Year). In the event of a partial month within an Agreement Year, the Minimum Annual Guaranteed Fee payable by [SELECTED RESPONDENT] for such partial month of the Agreement Year shall be determined by proportionally adjusting the amount of the monthly installment of the Minimum Annual Guaranteed Fee for that particular partial month based on the actual the number of days occurring during such partial month of the Agreement Year, and shall be payable on or before the first day of that partial month as set forth in this Agreement.
Sample 1

Related to Minimum Annual Guaranteed Fee

  • 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 Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

  • Guarantee of Payment; Continuing Guarantee The guarantee in this Article IV is a guaranty of payment and not of collection, is a continuing guarantee, and shall apply to all Obligations whenever arising.

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Minimum Monthly Rent (Section 1.5): Tenant shall pay to Landlord Minimum Monthly Rent for the Premises during the Extended Term in accordance with the schedule and in the amount set forth below: 01/01/13-07/31/13 $ 1,776.25 per month $ 8,645.00 per month $ 10,421.25 per month 08/01/13-07/31/14 $ 1,827.00 per month $ 8,892.00 per month $ 10,719.00 per month 08/01/14-07/31/15 $ 1,877.75 per month $ 9,139.00 per month $ 11,016.75 per month

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • Minimum Net Worth The Borrower will at all times maintain ----------------- Consolidated Net Worth of not less than the sum of (i) $265,000,000 plus (ii) fifty percent (50%) of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending December 31, 1997 (without deduction for losses).

  • Minimum Current Ratio The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending June 30, 2018), permit the Current Ratio to be less than 1.00 to 1.00.

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