Minimum Annual Net Sales Sample Clauses

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
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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 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. (a) Schwxxx xxxll guarantee minimum Annual Net Sales equal to 50% of the sales forecast set forth on Schedule 4.2(a). (b) In the event that (i) the Net Average Sales Price falls below $50.00, (ii) any Patent is unenforceable, (iii) a generic drug competitor with an intranasal vitamin B-12 product emerges, (iv) there is an interruption in the supply of the Nascobal Units for a period of either 20 days if prior to the Shelf Life Extension or 30 days thereafter, or (v) any circumstance that has a materially adverse effect on Nascobal which is beyond the control of Schwxxx, xxen, in each case, the minimum Annual Net Sales requirements under Section 4.2(a) shall terminate and be deemed waived by Nastech and shall be promptly renegotiated in good faith by Schwxxx xxx Nastech.
Sample 1
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. (a) Schwxxx xxxll guarantee minimum Annual Net Sales equal to 50% of the sales forecast set forth on Schedule 4.2(a). (b) In the event that (i) the Net Average Sales Price falls below $20.80, (ii) a Patent is not granted in respect of Scopolamine before December 31, 2000 or any Patent is unenforceable, (iii) a generic drug competitor with a nasal scopolamine product emerges, (iv) there is an interruption in the supply of the Scopolamine for a period of 60 days, and/or (v) the occurrence of any circumstance having a materially adverse effect on Scopolamine which is beyond the control of Schwxxx, xxen, in each case, the minimum
Sample 1

Related to Minimum Annual Net Sales

  • 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.

  • 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 A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Minimum Revenue Borrower and its Subsidiaries shall have Revenue from sales, marketing or distribution of the Product and related services (for each respective measured period, the “Minimum Required Revenue”): (a) during the twenty-four month period beginning on January 1, 2015, of at least $45,000,000; (b) during the twenty-four month period beginning on January 1, 2016, of at least $80,000,000; (c) during the twenty-four month period beginning on January 1, 2017, of at least $110,000,000; and (d) during the twenty-four month period beginning on January 1, 2018, of at least $120,000,000; and (e) during the twenty-four month period beginning on January 1, 2019, of at least $120,000,000.

  • 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. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Minimum Adjusted EBITDA Borrower shall maintain a minimum trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), as of such test date, of at least the greater of (a) $75,000,000 and (b) an amount equal to 75% of the trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), for the immediately preceding six-month period, tested semi-annually, commencing September 30, 2024, and continuing on each subsequent March 31 and September 30.

  • 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.

  • Net Sales The term “

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