Minimum Revenue Commitment. During the Term and subject to the terms and conditions of this Agreement, HFRM agrees as follows:
(i) Subject to Section 3, HFRM will transport on the Refined Product Pipelines and terminal in the Refined Product Terminals an amount of Refined Products in the aggregate that will produce revenue to HEP Operating in an amount at least equal to $11.706 million per Contract Quarter as of February 22, 2016, as such amount may be revised pursuant to Section 2(a)(ii) and Schedule I attached hereto (the “Minimum Revenue Commitment”).
(ii) The Minimum Revenue Commitment shall be adjusted on the first day of each Contract Year by an amount equal to the upper change in the annual change rounded to four decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics. The series ID is WPUSOP3000 as of June 1, 2011 – located at xxxx://xxx.xxx.xxx/data/. The change factor shall be calculated as follows: annual PPI index (most current year) less annual PPI index (most current year minus 1) divided by annual PPI index (most current year minus 1). An example for year 2009 change is: [PPI (2008) – PPI (2007)] / PPI (2007) or (177.1 – 166.6) / 166.6 or .063 or 6.3%. If the PPI index change is negative in a given year then the annual change will be deemed to be “zero.” If the above index is no longer published, the Parties shall negotiate in good faith to agree on a new index that gives comparable protection against inflation, and the same method of adjustment for increases in the new index shall be used to calculate increases in the Minimum Revenue Commitment. If the Parties are unable to agree, a new index will be determined in accordance with the dispute resolution provisions of the Omnibus Agreement, and the same method of adjustment for increases in the new index shall be used to calculate increases in the Minimum Revenue Commitment. To evidence the Parties’ agreement to each adjusted Minimum Revenue the Parties may, but shall not be required to, execute an amended, modified, revised or updated Schedule I and attach it to this Agreement. If so executed, such amended, modified, revised or updated Schedule I shall be sequentially numbered (e.g. Schedule I-1, Schedule I-2, etc.), dated and appended as an additional schedule to this Agreement and shall replace the prior version of Schedule I in its entirety, except as specified therein.
(iii) If HFRM is unable for a period of...
Minimum Revenue Commitment. Where a Minimum Revenue Commitment is set out in the Agreement, such Minimum Revenue Commitment will commence to be billed by Rogers after ninety
Minimum Revenue Commitment. During the Term, following the Commencement Date, and subject to the terms and conditions of this Agreement, HFRM agrees as follows:
Minimum Revenue Commitment. The amount of the "Minimum Revenue Commitment", as defined in the Pipelines and Terminals Agreement, shall be decreased to an amount equal to or less than $6,637,500 per Contract Quarter, as defined in the Pipelines and Terminals Agreement, regardless of whether such decrease is made pursuant to the terms of the Pipelines and Terminals Agreement.
Minimum Revenue Commitment. Where a Minimum Revenue Commitment is set out in the Agreement, such Minimum Revenue Commitment will commence to be billed by Rogers from the first full xxxx cycle following the contract signature (meaning the date you execute your commitment to purchase the Services provided pursuant to these terms).
Minimum Revenue Commitment. Following the Commercial Release, in the event revenues to Airspan generated by the ATG connectivity solution (including any and all revenues generated under this Agreement or the PSA) is [***], (a) the exclusivity set forth in Sections 2.9(a)(ii), 2.9(b)(ii), 2.9(c)(i), and 3 will terminate and the rights granted therein will become non-exclusive, and (b) the covenants set forth in this Section 3 will expire.
Minimum Revenue Commitment. 3.1. The RL shall fulfil the minimum revenue to be generated in terms of cumulative Reduced MRC billed in respect of NRES Connections (“Minimum Revenue Commitment”, or “MRVC”) that is indicated in the below table: 500 NRES Connections $630,000
3.2. The RL shall fulfil the MRVC specified above by the last day of the Term. The RL acknowledges that NLT has offered the Bid Rebate and Reduced MRC set out in Annex 2 on the condition that the MRVC is met, and the RL hereby agrees to pay an additional payment in the event that the RL fails to meet the MRVC at the end of the Term (or such earlier date of cessation of the Agreement pursuant to termination by the RL) (the “Additional Payment”). The Additional Payment shall be calculated according to the below formula: Where A = Amount of Additional Payment payable for failure to meet the MRVC within the Term X = Cumulative Reduced MRC billed during the Term, including any ETC payable by RL that falls during the Term
3.3. The Additional Payment shall be made in full to NLT no later than ten (10) Business Days from the last day of the Term, or such earlier date of cessation of the Agreement pursuant to termination by the RL (as the case may be). For the avoidance of doubt, interest payable on overdue amounts provided for in the relevant Schedules of the Approved ICO (including but not limited to Schedule 16) shall apply to any part of the Additional Payment which is overdue.
Minimum Revenue Commitment. ICQ agrees that in any month during the term -------------------------- in which there are at least [**], CP shall be entitled to receive at least the minimum amount of revenue calculated under this Section 6.5 (the "Minimum Monthly Revenue"). The Minimum Monthly Revenue for any month shall be equal to [**] for each Active ICQ Mail User during such month [**], up to a maximum amount of [**] in [**]. By way of example of the foregoing, if during a calendar month, there are [**], the Minimum Monthly Revenue for such month shall be [**]. In connection with any quarterly report under Section 6.6, ICQ shall calculate the Minimum Monthly Revenue for each month during such quarter. If the amount otherwise payable by ICQ during such quarter is less than the cumulative Minimum Monthly Revenue for the months in such quarter, then ICQ shall pay to CP the amount of such Minimum Monthly Revenue. By way of example, if during a quarter, the Minimum Monthly Revenue for the three (3) months is, in the aggregate [**], and if the amount otherwise payable under this Section 6 (including payments under Sections 6.1 and 6.2) during such quarter would be [**], then ICQ shall pay CP [**] with the quarterly report provided under Section 6.6 (net of payments previously made during such quarter, if any). If, on the other hand, in the foregoing example, the amount otherwise payable under this Section 6 (including any payments under Sections 6.1 and 6.2) during such quarter, were [**], then ICQ shall pay such [**] (net of any payments previously made during such quarter, if any), and there shall be no additional amounts due based on the Minimum Monthly Revenue.
Minimum Revenue Commitment. Subject to the revenue commitment -------------------------- adjustments set forth in Section 1.6.2 and 1.6.3, as a minimum sales guarantee, AOL agrees to pay RS a total of * * ----------- per year in accordance with the following schedule: (a) during the first year following * * in the first quarter, ------------- * * in the second quarter, * * in the ------------- ------------- third quarter and * * in the fourth quarter (each a ------------- "First Year Quarterly Commitment") and (b) during the second year following * *, * * in each quarter ------------- ------------- (each a "Second Year Quarterly Commitment"). The First Year Quarterly Commitments and the Second Year Quarterly Commitments shall be collectively referred to herein as the ("Quarterly Commitments.") Such Quarterly Commitments shall be in addition to any amounts payable pursuant to Section 2.1 and shall be paid to RS even if AOL fails to generate Gross AOL Sales Revenue greater than or equal to any Quarterly Commitment. The Quarterly Commitment for each quarter shall be paid at the end of such quarter. For the purposes of this Section 1.6.1, a quarter shall mean a calendar quarter. The first calendar quarter during the Term shall be pro-rated based on the number of days in the Exclusive Sales Period during such calendar quarter, the remainder of the Quarterly Commitment for the first calendar quarter shall be paid for the period between the end of the quarter in which last Second Year Quarterly Commitment and March 15, 2001.
Minimum Revenue Commitment. The minimum gross revenue commitment for the Agreement will be based on the number of End Users as follows: For each month of this agreement and for each country shown, StarMedia Network shall commit to a monthly base level of end users asshown below, for the five year term of End Users as shown below, from the Contract Start Date of this Agreement, for the five year term for IBM Services outlined in this Agreement. This volume commitment shall come from StarMedia Network's remarketing of IBM Internet Connection Services (IBM ICS) directly to End Users in the countries identified in this Agreement. All the End Users registering for IBM ICS using a StarMedia offer code in each calendar month of the term of this Agreement shall count toward this volume commitment. Volume Commitment --------------------------------------------------------------------------- Country Argentina Brazil Chile Colombia Mexico --------------------------------------------------------------------------- Volume Commitment [****] [****] [****] [****] [****] --------------------------------------------------------------------------- Months in Contract Year One [****] [****] [****] [****] [****] --------------------------------------------------------------------------- **** Represents material which has been redacted pursuant to a request for confidential treatment pursuant to Rule 406 under the Securities Act of 1933, as amended. Omitted material for which confidential treatment has been requested has been filed separately with the Securities and Exchange Commission. (Note: Contracts Year two thru five require 12 month commitment in each country) At the first annual reconciliation, the number of months in Contract Year One will be adjusted for any delay in the start of service in each country.
