Minimum Performance Sample Clauses

Minimum Performance. The Licensee hereby acknowledges that the grant of this license is a valuable property right and is granted by the Licensor on condition, among others contained in this Agreement, that the Licensee shall meet minimum annual sales quotas of AK Units. All sales made by the Licensee in the Country shall be included in establishing the minimum sales. Said minimum annual sales quotas, and the procedure for establishing said quotas, are contained in Schedule B, annexed hereto and made a part hereof. This Annex should reflect that the sales quotas are cumulative (i.e., overages in Y1 can be applied to Y2). The parties acknowledge that failure of the Licensee to meet cumulative sales quotas (other than failures resulting from Licensor’s inability to fill purchase orders from Licensee) in any calendar year shall be a material breach of this Agreement and the Licensor, at its option, may terminate this Agreement on sixty (60) days written notice pursuant to the provisions of Paragraph Termination For Cause below, provided however, that within said sixty (60) days the Licensee, at its option, may cure the default by purchasing in bulk the number of Units lacking to meet minimum performance hereunder. Any Units purchased to cure such default shall be deemed to have been purchased solely for the calendar year for which the default is cured. The Licensor’s sole remedy for the Licensee’s nonperformance of the provisions of this Paragraph shall be termination of this License Agreement pursuant to the provisions of Paragraph Termination For Cause.

Minimum Performance. If you prepare fewer than 600 federal income tax returns in the Territory in any Tax Season beginning with your fifth Tax Season, we may, in our discretion, terminate this Agreement for cause by written notice to you given between May 1 and September 1 following that Tax Season.

Minimum Performance. Upon execution of this Amendment, OSIRIS shall pay and CWRU shall accept one hundred thousand dollars ($100,000) as royalty payments for the calendar years 2001 and 2002. For each subsequent calendar year during the term of this Agreement, if payments due to CWRU under Article VI are less than fifty thousand dollars ($50,000), OSIRIS shall pay CWRU the difference between the amount due and fifty thousand dollars ($50,000) on, or before, the due date for payments under Article VI (i.e. March 31 following the year payment obligations accrue). In the event OSIRIS defaults on its payment obligation, and fails to cure such default within 30 (thirty) days after receiving a notice of default and demand for payment from CWRU, any and all rights of OSIRIS to Developed Patent Rights under this License Agreement shall be terminated.

Minimum Performance if, after the sixth anniversary of the Initial capitalization of OSIRIS, payments due to CWRU under Article VI fall below fifty thousand dollars ($50,000) per year, the License granted by this Agreement shall be terminated unless OSIRIS pays CWRU the difference between the amount due and fifty thousand dollars ($50,000), unless extended by mutual agreement.

Minimum Performance. 1.1 The Licensee hereby acknowledges that the grant of this License is a valuable property right and is granted by the Licensor on condition, among others contained in the Agreement, that the Licensee shall meet minimum annual sales quotas of AK Units. All sales made by the Licensee in ____________________________________ shall be included in establishing the minimum sales. Said minimum annual sales quotas, and the procedure for establishing said quotas, are contained in and made a part hereof. The parties acknowledge that failure of the Licensee to meet sales quotas in any calendar year, shall be a material breach of this Agreement, and the Licensor, at its option, may terminate this Agreement on sixty (60) days written notice, provided however, that within said sixty (60) days the Licensee, at is option, may cure the default by purchasing in bulk the number of Units lacking to meet minimum performance hereunder. Any Units purchased to cure such default shall be deemed to have been purchased solely for the calendar year for which the default is cured. The Licensor’s sole remedy for the Licensee’s nonperformance of the provisions of this paragraph shall be termination of this License Agreement.

Minimum Performance. If Licensee is able to sublicense the Licensed Product in accord with the terms outlined in paragraph 2(c), thereby converting the license to an exclusive license, in order to maintain exclusivity, Licensee shall be required to accomplish Minimum Performance requirements. The time at which the Licensee will be required to begin attaining the Minimum Performance requirements will commence when the products have been completed for OTC requirements and stability testing has been completed.. Upon the Minimum Performance Commencement, Licensee shall be required to accomplish a Minimum Performance of at least ** in top-line gross revenue to licensee for the first 12 months after OTC testing is successfully completed. The minimum total top line revenue to licensee for year 2 to maintain an exclusive license is **, Year 3 ** Year 4 **, Year 5 **, Year 6 **, Year 7 and all years beyond Year 7 the minimum top line revenue to Licensee to maintain an exclusive license is **. If Licensee is short of the minimum dollar requirements in any year, Licensee can pay licensor the royalty amount that Licensor would have received if the minimum were met during that 12 month period to retain exclusivity. If minimum top-line revenues are not met, and the minimum royalty is not paid this agreements automatically converts to a non-exclusive license for the Acne category.

Minimum Performance. If, after the sixth anniversary of the initial capitalization of CS1RIS, payments due to CWRU under Article VI fall below Fifty Thousand Dollars ($50,000) per year, the License granted by this Agreement shall be terminated unless OSIRIS pays CWRU the difference between the amount due and Fifty Thousand Dollars ($50,000), unless extended by mutual agreement.

Minimum Performance. 1.1 The Licensee hereby acknowledges that the grant of this License is a valuable property right and is granted by the Licensor on condition, among others contained in the Agreement, that the Licensee shall meet minimum annual sales quotas of AK Units. All sales made by the Licensee in

Minimum Performance. If during a Period, the total value of your Commissions do not exceed the Minimum Amount, then you shall not be entitled to receive any Commission during that applicable Period. Subject to this sub‐clause, you will be paid Commission within 30 days of the end of each Period provided that your aggregate unpaid Commission exceeds the Minimum Amount. At such time, you will also be paid all previously earned and unpaid Commission which has been withheld in respect of any prior Period.

Minimum Performance. (a) Franchisee shall increase its Gross Revenues in each Anniversary Year over the next ten (10) years in accordance with the progression rate set forth below. The parties hereto stipulate that at Franchisee’s Gross Revenues are currently [***]. The progression rate shall be as follows and the Gross Revenues shall be measured on the last day of each calendar year immediately following the anniversary of the Effective Date of the Franchise Agreement (the “Measurement Date”): On or before the first Measurement Date (12/31/2005): Gross Revenues shall be no less than $[***] On or before the second Measurement Date (12/31/2006): Gross Revenues shall be no less than $[***] On or before the third Measurement Date (12/31/2007): Gross Revenues shall be no less than $[***] On or before the fourth Measurement Date (12/31/2008): Gross Revenues shall be no less than $[***] On or before the fifth Measurement Date (12/31/2009): Gross Revenues shall be no less than $[***] On or before the sixth Measurement Date (12/31/2010): [***] Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. Gross Revenues shall be no less than $[***] On or before the seventh Measurement Date (12/31/2011): Gross Revenues shall be no less than $[***] On or before the eighth Measurement Date (12/31/2012): Gross Revenues shall be no less than $[***] On or before the ninth Measurement Date (12/31/2013): Gross Revenues shall be no less than $[***] On or before the tenth Measurement Date (12/31/2014), and thereafter: Gross Revenues shall be no less than $[***] (b) Franchisee currently has no locations in Manatee County. In order to maintain Manatee County as part of the Exclusive Territory, Franchisee shall open at least one (1) office within the first eighteen (18) months of the Effective Date of the Franchise Agreement.