Minimum Sales Targets. Distributor agrees to meet certain minimum sales targets during the Exclusivity Term (each a "Minimum Sales Target") as follows:
(a) During the period from January 1, 2000 through December 31, 2001, Distributor agrees to a Minimum Sales Target of [CONFIDENTIAL TREATMENT REQUESTED]/*/ (the "Two Year Minimum Target"). In the event Distributor meets the Two Year Minimum Target, this Section 1.4, and the Exclusivity Term, shall, subject to subparagraph (b) of this Section 1.4.3, and the last sentence of this paragraph (a), continue in full force and effect for 2002 and each successive year of the Term
Minimum Sales Targets. 13.1 The Parties agree that each shall use their commercially reasonable efforts to support the Joint Venture to achieve the following minimum sales targets (“Minimum Sales Targets”):
13.1.1 Annual sales revenue of USD $500,000 for the first complete Financial Year after the Establishment Date;
13.1.2 Annual sales revenue of USD $3,000,000 for the second complete Financial Year after the Establishment Date;
13.1.3 Minimum sales targets as determined by the Board of the Joint Venture for subsequent Financial Years.
13.2 In the event that any of the above Minimum Sales Targets is not met for a relevant Financial Year, then Aura may elect, in its sole and absolute discretion, to immediately terminate this Contract, in which case the Technology License shall immediately terminate and liquidation commence in accordance with Section 25.6. In the event that any of the above Minimum Sales Targets is not met for a relevant Financial Year and Aura elects to not terminate this Contract pursuant to this Section 13.2, then the Technology License shall automatically and without further act become non-exclusive pursuant to Section 2.1(c) of the Technology Agreement.
13.3 At no time may the joint Venture sell any Products and/or components below the following margins without unanimous consent of the Board:
a. Cost plus 35% in the case of any Products;
b. Cost plus 40% in the case of any Product components.
Minimum Sales Targets. If the Minimum Sales Targets during the Initial Period are not met, TomTom shall be entitled to terminate this Agreement on providing LoJack with ninety (90) days’ previous written notice.
Minimum Sales Targets. Section 3.4 of the Agreement is hereby deleted in its entirety as of the Amendment Effective date and replaced with the following, including Exhibit 3 referenced therein which is attached hereto and made part hereof:
Minimum Sales Targets. 3.4.1 During the Royalty Term (defined in Section 4.2) Bellco shall comply with the quarterly sales targets set forth on Exhibit 3 attached hereto and made part hereof.
3.4.2 Solely the failure of Bellco to meet the stated minimum yearly sales targets (to be obtained by adding the minimum sales targets for each quarter as provided in Exhibit 3 hereto for each relevant year of the Agreement) in any given year of the Agreement will, at the discretion of Nephros, result in conversion of the license granted in Section 2.1 to non-exclusive status. Conversion of the license to non-exclusive status shall not alter the royalty rates to be paid by Bellco under Section 4.2 nor prejudice or otherwise serve to waive any other rights of Nephros under this Agreement.
Minimum Sales Targets. Section 3.2 of the Agreement is hereby amended to provide that the total minimum amount of purchases by Nephros from Medica shall be as follows:
a. €1,600,000 in calendar year 2017
b. €2,500,000 in calendar year 2018
c. €3,000,000 in calendar year 2019
d. €3,150,000 in calendar year 2020
e. €3,300,000 in calendar year 2021
f. €3,475,000 in calendar year 2022 In the event that Medica is unable to deliver Products that are included Nephros’ forecast, as described in Section 5.5.1., and that have binding purchase orders, the minimum purchase amounts set forth above for a given year will be reduced by 8% for every month when there are Products delivered by Medica more than ten (10) weeks later than the forecasted Products requirement.
Minimum Sales Targets. During the Term Nephros shall comply with the following annual aggregate purchases from Medica. 2012 € 300,000 2013 € 500,000 2014 € 750,000 For calendar year 2015 and the remaining years of the Term, annual minimum amounts will be mutually negotiated between Medica and Nephros.
Minimum Sales Targets. Section 3.2 of the Agreement is hereby amended to include the following additional total minimum amounts of purchases by Nephros from Medica:
Minimum Sales Targets. 5.1 The following minimum sales target orders for the Products shall apply: Jul 2017 - Jul 2018 – 100,000 units Jul 2018 - Jul 2019 – 340,000 units July 2019 - July 2020 – 740,000 units
5.2 A sales target order is deemed fulfilled from the date of order or in the event that the Distributor pays a 20% deposit in respect of the number of units of Product ordered.
5.3 If the Distributor fails to place order(s) for the minimum sales targets set out above in any year and subsequently take delivery of the Products, the Supplier, shall have the right to terminate this Agreement or change this Agreement into a non-exclusive one by giving the Distributor 3 months’ notice in writing.
Minimum Sales Targets. During the Royalty Term (defined in Section 4.2) Bellco shall comply with the following quarterly sales targets. 2015 First 15,000 Second 15,000 Third 15,000 Fourth 15,000 2016 First 15,000 Second 15,000 Third 15,000 Fourth 15,000 The failure of Bellco to meet the stated minimum sales targets in any given quarter will, at the discretion of Nephros, result in conversion of the license granted in Section 2.1 to non-exclusive status. Conversion of the license to non-exclusive status shall not alter the royalty rates to be paid by Bellco under Section 4.2, nor prejudice or otherwise serve to waive any other rights of Nephros under this Agreement.
