Minimum Payment Obligation. Highland Park shall be obligated to pay for the Daily Minimum quantity of water. "
Minimum Payment Obligation. PharmaBio shall be entitled to receive aggregate payments under this Article V of not less than the Minimum Payment Amount. If the sum of the aggregate Royalty payments received by PharmaBio pursuant to Section 5.2 in respect of Net Sales during the Royalty Term plus, if applicable, any Annual Minimum True-up Payments received by PharmaBio (see Section 5.7 below), is less than the Minimum Payment Amount, then CTI shall pay PharmaBio, no later than February 28, 2011, the difference between the Minimum Payment Amount and such sum (the “Minimum Payment Obligation”). The Minimum Payment Obligation shall be payable by CTI to PharmaBio independent, and regardless, of the actual Net Sales during the Royalty Term, other circumstances including any occurrence of any Unfavorable Marketing Event (as described in Section 8.3), or CTI’s financial or corporate status.
Minimum Payment Obligation. With reference to Section 5.9.5, if such quarter is also the fourth (4th) quarter of a Year, each report shall include a reconciliation of the minimum payment obligation and the Reference Amount for such Year as provided therein.
Minimum Payment Obligation. (a) Rahway shall be obligated to pay for the Daily Minimum quantity of water at the Contract Rate. "Daily Minimum" shall mean:
Minimum Payment Obligation. In the event that any minimum annual royalty payment is triggered under Section 3.1(i) of the UCSD License Agreement from and after the first calendar year of commercial sales of Products by Assignee (or its Affiliates or sublicensees), a percentage of such minimum annual royalty payment shall be assigned to and assumed, paid and discharged by Assignee, which percentage shall represent the percentage of total earned royalties contributed by Oncternal (or its affiliates of sublicensees). By way of illustration, if the minimum annual royalty for a calendar year is $500,000, and Assignee pays total earned royalties of $100,000 and Oncternal pays total earned royalties of $25,000 in such calendar year, Oncternal has contributed 20% of the total earned royalties and thus Licensee is only responsible for 20% of the residual minimum annual royalty of $375,000, or $75,000 and Oncternal is responsible for 80% of the of the residual minimum annual royalty of $375,000, or $300,000.
Minimum Payment Obligation. Thirty days after service to South Amboy is commenced, South Amboy shall be obligated to pay for the Daily Minimum quantity of water at the Tariff Rate. "
Minimum Payment Obligation. For the effective term of this Agreement, Licensee agrees to pay to Licensor minimum annual royalties pursuant to Section 5.1 ("Royalties") of no less than (a) $250,000 ("Initial Threshold Amount") plus eight percent (8%) of the Initial Threshold Amount (i.e. $250,000 + [$250,000 X 8%] = $270,000) for the period commencing on the Effective Date and ending on January 31, 2002 (such minimum payment amount referred to as the "Threshold Amount"), provided that for the period commencing on the Effective Date and ending on January 31, 2002, the Threshold Amount shall be multiplied by the number of days between the Effective Date and January 31, 2002 and divided by 365; and (b) for each one (1) year period thereafter, 108% of the Threshold Amount of the immediately preceding one (1) year period (or such shorter preceding period as set forth in clause (a)). By way of example but not limitation, in the event that the annual royalties paid to Licensor pursuant to Section 5.1 ("Royalties") do not equal or exceed $314,928 for the one (1) year period ending on January 31, 2004, Licensee shall "gross up" the royalties paid (i.e. pay to Licensor the difference between $314,928 and the royalties paid pursuant to Section 5.1) such that Licensor receives no less than $314,928 for such measuring year. Payment by Licensee of royalties pursuant to Section 5.1 ("Royalties") in excess of the minimum annual royalty amounts required by this Section 4.2 shall not reduce or increase any future minimum payment owed to Licensor under this provision. The Royalty Payment obligations under Section 4.2 of the Original License Agreement shall survive with respect to amounts accrued thereunder prior to the Effective Date of this Agreement. Notwithstanding anything to the contrary herein, in no event shall any payments under this Agreement be duplicative with any payments under the Original License Agreement. On Licensee's material breach of this Section 4.2 ("Minimum Payment Obligation"), Licensor shall have the right to (x) exercisable on delivery of written notice thereof to Licensee, convert to nonexclusive the licenses granted under Section 4.1 ("Patent License") or (y) exercise its right to terminate this Agreement in accordance with Section 12.2 ("Termination on Material Breach by Licensee").
Minimum Payment Obligation. For the effective term of this Agreement, -------------------------- TW agrees to pay to IN minimum annual royalties pursuant to Section 5.1 ("Royalties") of no less than (a) $250,000 ("Initial Threshold Amount") for the one (1) year period commencing on the Effective Date and ending on the first anniversary thereof; (b) the Initial Threshold Amount plus eight percent (8%) of the Initial Threshold Amount (i.e. $250,000 + [$250,000 X 8%] = $270,000) for the subsequent one (1) year period (such resulting minimum payment amount referred to as the "Threshold Amount"); and (c) for each one (1) year period thereafter, 108% of the Threshold Amount of the immediately preceding one (1) year period . By way of example but not limitation, in the event that the annual royalties paid to IN pursuant to Section 5.1 ("Royalties") do not equal or exceed $314,928 for the fourth one (1) year period of this Agreement, TW shall "gross up" the royalties paid (i.e. pay to IN the difference between $314,928 and the royalties paid pursuant to Section 5.1) such that IN receives no less than $314,928 for such measuring year. Payment by TW of royalties pursuant to Section 5.1 ("Royalties") in excess of the minimum annual royalty amounts required by this Section 4.2 shall not reduce or increase any future minimum payment owed to IN under this provision. On TW's material breach of this Section 4.2 ("Minimum Payment Obligation"), IN shall have the right to (x) exercisable on delivery of written notice thereof to TW, convert to nonexclusive the licenses granted under Section 4.1 ("Patent License") or (y) exercise its right to terminate this Agreement in accordance with Section 12.2 ("Termination on Material Breach by TW").
Minimum Payment Obligation. For 1998, X-X TSMD's payments to Xxxxxxx-Xxxxxxx for research and development costs, Process Costs and Unit Prices shall total at least $5.8 million.
Minimum Payment Obligation. East Brunswick shall be obligated to pay for the treatment of at least five (5) million gallons of water daily (regardless of actual demand or consumption) unless a new minimum has been established under Paragraph 8 of this Agreement. In the event the NJWSA diversion privilege for East Brunswick is reduced, the minimum payment obligation is reduced accordingly. Payment for water treated shall be made within thirty days from the rendering to East Brunswick of a xxxx therefor.
