Minimum Sales Requirement. (a) With respect to each Fiscal Quarter in which the average daily unpaid principal amount of the Class A Revolving Loans is less than 90% of the average daily Class A Revolving Commitments during such Fiscal Quarter, Holdings shall have sold during such Fiscal Quarter Receivables to Company selected by it in accordance with the Selection Procedures in an amount (with respect to any Fiscal Quarter, the “Available Eligible Receivables Amount”) equal to at least 50% of the excess of (A) the aggregate Outstanding Principal Balance of all Eligible Receivables originated by Holdings or originated by a Receivables Account Bank and sold to Holdings or an Affiliate of Holdings during such Fiscal Quarter over (B) the sum of (i) the aggregate Outstanding Principal Balance of such Receivables originated during such Fiscal Quarter that Holdings is obligated to sell, or may sell in order to maximize the funds available thereunder to Holdings, to a special-purpose Subsidiary of Holdings in connection with one or more term securitization transactions involving the issuance of securities of a fixed not variable amount rated at least investment grade by one or more nationally recognized statistical rating organizations, and (ii) the aggregate Outstanding Principal Balance of all such Receivables originated during such Fiscal Quarter that are Marketplace Receivables. For all purposes of the foregoing, (1) with respect to any Fiscal Quarter, any such Receivables that are originated in such Fiscal Quarter but sold to Company or another Subsidiary of Holdings or as a Marketplace Receivable in the immediately succeeding Fiscal Quarter shall be deemed to have been originated in the Fiscal Quarter in which they were sold, and (2) each percentage under this Section 5.15(a) shall be calculated based on the original Outstanding Principal Balances of the applicable Receivables.
Minimum Sales Requirement. (a) Borrower shall enter into and close under sales contracts on at least six (6) Units (the “Minimum Sales”) for each six-month period (the “Measuring Period”) during the Term (the first such period shall commence on the date of the closing of the Loan). Each sales contract shall be subject to the prior approval of Lender, provided that Lender shall not unreasonably withhold its approval of any sales contract with a purchase price of at least Four Hundred Four Dollars ($404) per square foot. If more than six (6) Units are sold within any such Measuring Period, the excess sales shall carry forward to satisfy all or a portion of the foregoing sales requirement for any ensuing Measuring Period and continuing on a cumulative basis until the Maturity Date.
Minimum Sales Requirement. The term “Minimum Sales Requirement” means, with respect to each separate Product, (i) to the extent that four (4) or more competitive products offering the same specific active pharmaceutical ingredient are approved by the FDA and commercially released and available in a Measurement Period in the Territory, a market share of five percent (5%) or greater in such Measurement Period with respect to such specific active pharmaceutical ingredient, as reported by IMS Health Incorporated; or (ii) to the extent that two (2) or three (3) competitive products offering the same specific active pharmaceutical ingredient are approved by the FDA and commercially released and available in a Measurement Period in the Territory, a market share of ten percent (10%) or greater in such Measurement Period with respect to such specific active pharmaceutical ingredient, as reported by IMS Health Incorporated; or (iii) to the extent that only one (1) competitive product offering the same specific active pharmaceutical ingredient is approved by the FDA and commercially released and available in a Measurement Period in the Territory, a market share of fifteen percent (15%) or greater in such Measurement Period with respect to such specific active pharmaceutical ingredient, as reported by IMS Health Incorporated.
Minimum Sales Requirement. If within any one (1) year period, as measured by the anniversary date of the first Site Specific Agreement, there shall be any less than ten (10) additional individual sites in operation in the Grant Territory using the Licensed Material (i.e., ten additional sites each year), or otherwise in substantial completion of construction, the Licensor may, at its option, choose to excise the exclusivity provisions from this Agreement and license the Licensed Material to others for the exploitation of the Grant Territory market. This requirement shall accrue and is to be satisfied only by the sales and marketing efforts of the Licensee; any site or contract that results from the sales or marketing efforts of the licensor shall not be included in the accrual or satisfaction of this requirement. Breach of this provision in any manner shall be deemed a material breach for which the Licensor may pursue termination in full accord with this Agreement.
Minimum Sales Requirement. In the event that the total sales of the PRODUCT sold by INNOVIVE and its AFFILIATES and SUBLICENSEES for each Period (as hereinafter defined) does not reach Minimum Sales for such period as set forth below, INNOVIVE shall pay SHINYAKU the compensation for the balance between such Minimum Sales and the actual sales during the said Period. The compensation shall be [*] percent ([*]%) of such balance. [*] Confidential treatment requested; certain information omitted and filed separately with the SEC. Minimum Sales Period 1: [*] U.S. Dollars (US $[*]) Period 2 (Full Calendar Year following Period 1): [*] U.S. Dollars (US $[*]) Period 3 (Full Calendar Year following Period 2): [*] U.S. Dollars (US $[*] Million) The Minimum Sales for subsequent Periods shall be agreed by the PARTIES before the beginning of the applicable period. In determining the appropriate Minimum Sales, the PARTIES shall consider all relevant commercial, regulatory and scientific factors prevailing at the time including, but not limited to, the following: the approved labeling for the PRODUCT; the PRODUCT profile; market conditions; and the anticipated order of launch of the PRODUCT within the TERRITORY. In this ARTICLE 6, Period 1 shall mean the period starting on and from the date of the first commercial sale of the PRODUCT by INNOVIVE or its SUBLICENSEES in the TERRITORY and ending on December 31 of the following year including the first anniversary date of such a first commercial sale. Subsequent Periods shall be the full calendar year following the immediately preceding Period.
Minimum Sales Requirement. Representative shall comply with the Minimum Sales Requirements set forth in Schedule C. 5.
Minimum Sales Requirement. During the first year of the Term, Xxxxxxx shall sell [***]. For subsequent years Senetek and Xxxxxxx shall agree on the Minimum Sales Requirement based on the prior year's actual Net Sales, provided, however, that if the parties shall fail to agree on the Minimum Sales Requirement for any year after the first year by March 31 of such year, the Minimum Sales Requirement for such year shall be the prior year's Minimum Sales Requirement [***]. Senetek may terminate this agreement in accordance with clause 16.3 (b) if during any year of the Term Xxxxxxx fails to achieve the Minimum Sales Requirement with respect to such year.
Minimum Sales Requirement. The first six months of the Term will be AGENT's start up phase (the "Initial Phase"), and AGENT will not be required to meet a Quota. After the Initial Phase, AGENT will be required to meet the following Quotas:
Minimum Sales Requirement. Prior to the Exclusivity Termination Date, for any Eligible Assets purchased, Parent and/or Borrower shall, and shall cause each of its Affiliates to sell or transfer 100% of such Eligible Assets, to a Subsidiary of Borrower that is a Grantor (as defined in the Security Agreement); provided, that, Parent may purchase Assets that may qualify as Eligible Assets and hold such Assets directly or indirectly through Subsidiaries of Parent to the extent purchased with Capital Stock of Parent, proceeds of cash equity contributed to the Parent, or proceeds of Permitted Shareholder Indebtedness and/or Permitted Convertible Indebtedness.
Minimum Sales Requirement. 5.4.1 Commencing upon delivery of written notice by FK to the Distributor, the Distributor shall sell a minimum of :
