Minimum Annual Net Sales Sample Clauses

Minimum Annual Net Sales. (a) Schwxxx xxxll guarantee minimum Annual Net Sales equal to 50% of the sales forecast set forth on Schedule 4.2(a).
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Minimum Annual Net Sales. During the periods of the term of this Agreement set forth below, NAI shall produce the following “Minimum Annual Net Sales.” July 1, 2003 through December 31, 2004 $ 1,500,000 January 1, 2005 through December 31, 2005 $ 3,000,000 January 1, 2006 through December 31, 2006 $ 6,000,000 January 1, 2007 through December 31, 2007 $ 12,000,000 January 1, 2008 through December 31, 2008 $ 14,400,000 January 1, 2009 through December 31, 2009 $ 17,280,000 January 1, 2010 through December 31, 2010 $ 20,736,000 January 1, 2011 through December 31, 2011 $ 22,809,600 January 1, 2012 through December 31, 2012 $ 25,090,560 January 1, 2013 through December 31, 2013 $ 27,599,616 In the event the Minimum Annual Net Sales are not achieved, NAI shall have the option to retain all rights under this Agreement by paying to Chopra Enterprises the difference between the royalties actually paid to Chopra Enterprises pursuant to Section 2.1.2 for Net Sales achieved during the respective year, and the royalties that would have been due if the Minimum Annual Net Sales requirement had been achieved. If the Minimum Annual Net Sales requirement is not achieved and NAI does not pay to Chopra Enterprises such difference, Chopra Enterprises shall have the right in its sole discretion to: (i) waive the non-compliance; or (ii) notify NAI this License Agreement has been automatically converted to a non-exclusive license on otherwise all the same terms and conditions; or (iii) terminate this License Agreement at which time all rights previously licensed shall revert to Chopra Enterprises, Xxxxxx Xxxxxx and Xxxxx. In addition, if the Minimum Annual Net Sales requirement is not achieved and NAI does not pay to Chopra Enterprises such difference, and Chopra Enterprises elects to terminate this License Agreement, Chopra Enterprises shall have the right in its sole discretion to elect to terminate the Exclusive Manufacturing Agreement entered into of even date herewith. No waiver of this requirement by CCS (if any) shall act as a future waiver.
Sample 1
Minimum Annual Net Sales. During the periods of the term of this Agreement set forth below, NAI shall produce minimum annual Net Sales of the Products. The amount of the minimum annual sales shall be as set forth below for each period. Effective Date through December 31, 2004 $5,000,000 January 1, 2005 through December 31, 2005 $6,000,000 January 1, 2006 through December 31, 2006 $6,500,000 January 1, 2007 through December 31, 2007 $7,000,000 January 1, 2008 through December 31, 2008 $7,500,000 January 1, 2009 through December 31, 2009 $8,000,000 In the event Minimum Annual Net Sales are not achieved, NAI shall have the option to retain all rights under this Agreement by paying to Ministries the difference between the amount of royalties actually paid to Ministries pursuant to Section 2.1.2 for Net Sales achieved during the respective year, and the amount which would have been due if the Minimum Annual Net Sales requirement had been achieved. If the Minimum Annual Net Sales requirement is not achieved and NAI does not pay to Ministries such difference, Ministries shall have the right in its sole discretion to: (i) waive the non-compliance; (ii) notify NAI this Agreement has been automatically converted to a non-exclusive license on otherwise all the same terms and conditions; or (iii) terminate this Agreement at which time all rights previously licensed shall revert to Ministries. No waiver of this requirement by Ministries (if any) shall act as a future waiver.
Sample 1
Minimum Annual Net Sales. Subject to Section 4.1(c), Schwxxx xxxll endeavor to meet or exceed the minimum Annual Net Sales targets set forth on Schedule 2.5 hereto. Any provision in this Agreement to the contrary notwithstanding (but still subject to Section 4.1(c)), in the event that Schwxxx xxxls to meet the minimum Annual Net Sales targets set forth on Schedule 2.5 hereto, CIMA's sole remedy for such failure shall be, subject to Section 4.1(c), to (i) convert the exclusive licenses granted in Sections 2.1 to non-exclusive licenses, and/or (ii) reduce the list of pharmaceutical products on Schedule 9.9(a) to those pharmaceutical products that contain [***CONFIDENTIAL TREATMENT REQUESTED, PORTION OMITTED FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.***] as their primary active ingredient. In the event that Schwxxx xxxls to meet the minimum Annual Net Sales targets set forth on Schedule 2.5 hereto, CIMA may exercise any remedies it is entitled to pursuant to this Section 2.5, if at all, by the delivery of written notice thereof to Schwxxx.
Sample 1
Minimum Annual Net Sales. During the periods of the term of this Agreement set forth below, NAI shall produce minimum annual Net Sales of the Products. The amount of the minimum annual sales shall be as set forth below for each period. Effective Date through December 31, 2004 $5,000,000 January 1, 2005 through December 31, 2005 $6,000,000 January 1, 2006 through December 31, 2006 $6,500,000 January 1, 2007 through December 31, 2007 $7,000,000 January 1, 2008 through December 31, 2008 $7,500,000 January 1, 2009 through December 31, 2009 $8,000,000 In the event Minimum Annual Net Sales are not achieved, NAI shall have the option to retain all rights under this Agreement by paying to Xx. Xxxxxx the difference between the amount of royalties actually paid to Xx. Xxxxxx pursuant to Section 2.1.2 for Net Sales achieved during the respective year, and the amount which would have been due if the Minimum Annual Net Sales requirement had been achieved. If the Minimum Annual Net Sales requirement is not achieved and NAI does not pay to Xx. Xxxxxx such difference, Xx. Xxxxxx shall have the right in his sole discretion to: (i) waive the non-compliance; (ii) notify NAI this Agreement has been automatically converted to a non-exclusive license on otherwise all the same terms and conditions; or (iii) terminate this Agreement at which time all rights previously licensed shall revert to Xx. Xxxxxx. No waiver of this requirement by Xx. Xxxxxx (if any) shall act as a future waiver.
Sample 1

Related to Minimum Annual Net Sales

  • 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.

  • 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 Sales 4.1 The minimum volume of sales of the Products that CSR commits to use its best efforts to achieve in the Territory on an annual basis in the first Agreement Year is 60,000 gallons (avg. 5,000 gallons per month). RCAI will review the annual volumes of sales of the Products prior to the beginning of any successive term during which this Agreement may continue and RCAI may change and adjust such minimums as it, in its sole judgment, sees fit.

  • 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.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • CONTRACT YEAR The first Contract Year is the period of time ending on the first contract anniversary. Subsequent Contract Years are the annual periods between contract anniversaries.

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • 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

  • 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.

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