Common use of Minimum Royalty Payments Clause in Contracts

Minimum Royalty Payments. The Minimum Royalties for the Contract Term shall be paid [*****] in advance on execution of this Agreement and the balance in twenty (20) equal installments of $[*****] paid quarterly beginning March 30, 1998 and throughout the remainder of the contract period. Each installment is due on or before the 30th day of each March, June, September and December. The Minimum Royalties for each Extension Term as shown below shall be paid in four (4) equal installments each by the 30th day of March, June, September and December of the respective term. 7.1A Licensee shall not be in default of this Paragraph if the minimum royalties paid pursuant to a Trademark Licensee Agreement between White Consolidated Industries and New M-Tech Corporation, of even date, and the royalties paid pursuant to this Agreement equal the minimum royalty payments set forth below. TERM YEAR(S) MINIMUM ---- ------- ROYALTIES Contract --------- Term 1997/2002 [*****] First Extension Term 2003/2004 [*****] Second Extension Term 2005/2006 [*****] Third Extension Term 2007/2008 [*****] Fourth Extension Term 2009/2010 [*****] Fifth Extension Term 2011/2012 [*****] Sixth Extension Term 2013/2014 [*****] 7.2 INITIAL ROYALTY PAYMENT. Licensee shall pay Licensor an initial royalty payment (the "Initial Royalty Payment") of [*****] upon execution of this Agreement. The Initial Royalty Payment shall be applied against the first Royalties payable pursuant to Section 7.4 of this Agreement. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. ASTERICKS DENOTE SUCH OMMISSIONS.

Minimum Royalty Payments. The Minimum Royalties for the Contract Term shall be paid [*****] in advance on execution of this Agreement and the balance in twenty (20) equal installments of $[*****] paid quarterly beginning March 30, 1998 and throughout the remainder of the contract period. Each installment is due on or before the 30th day of each March, June, September and December. The Minimum Royalties for each Extension Term as shown below shall be paid in four (4) equal installments each by the 30th day of March, June, September and December of the respective term. 7.1A Licensee shall not be in default of this Paragraph if the minimum royalties paid pursuant to a Trademark Licensee Agreement between White Consolidated Industries and New M-Tech CorporationElectronic Industries of America, Inc., of even date, and the royalties paid pursuant to this Agreement equal the minimum royalty payments set forth below. TERM YEAR(STerm Year(s) MINIMUM Minimum ---- ------- ROYALTIES Royalties Contract --------- Term 1997/2002 [*****] First Extension Term 2003/2004 [*****] Second Extension Term 2005/2006 [*****] Third Extension Term 2007/2008 [*****] Fourth Extension Term 2009/2010 [*****] Fifth Extension Term 2011/2012 [*****] Sixth Extension Term 2013/2014 [*****] 7.2 INITIAL ROYALTY PAYMENT. Licensee shall pay Licensor an initial royalty payment (the the- "Initial Royalty Payment") of [*****] upon execution of this Agreement. The Initial Royalty Payment shall be applied against the first Royalties payable pursuant to Section 7.4 of this Agreement. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. ASTERICKS DENOTE SUCH OMMISSIONS.

Minimum Royalty Payments. The Minimum Royalties for the Contract Term shall be paid [*****] one hundred twenty five thousand dollars ($125,000) in advance on execution of this Agreement and the balance in twenty (20) equal installments of $[*****] 27,500 paid quarterly beginning March 30, 1998 and throughout the remainder of the contract period. Each installment is due on or before the 30th day of each March, June, September and December. The Minimum Royalties for each Extension Term as shown below shall be paid in four (4) equal installments each by the 30th day of March, June, September and December of the respective term. 7.1A Licensee shall not be in default of this Paragraph if the minimum royalties paid pursuant to a Trademark Licensee Agreement between White Consolidated Industries and New M-Tech Corporation, of even date, and the royalties paid pursuant to this Agreement equal the minimum royalty payments set forth below. TERM YEAR(S) MINIMUM ---- ------- ROYALTIES Contract --------- Term 1997/2002 [*****] $1,350,000 First Extension Term 2003/2004 [*****] 975,000 Second Extension Term 2005/2006 [*****] 1,050,000 Third Extension Term 2007/2008 [*****] 1,125,000 Fourth Extension Term 2009/2010 [*****] 1,200,000 Fifth Extension Term 2011/2012 [*****] 1,275,000 Sixth Extension Term 2013/2014 [*****] 1,350,000 7.2 INITIAL ROYALTY PAYMENT. Licensee shall pay Licensor an initial royalty payment (the "Initial Royalty Payment") of [*****] upon execution of this Agreement. The Initial Royalty Payment shall be applied against the first Royalties payable pursuant to Section 7.4 of this Agreement. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. ASTERICKS DENOTE SUCH OMMISSIONS.