Payment of Net Revenue Sample Clauses

Payment of Net Revenue. (a) All cash collected and received by VIT (including cash received from its Subsidiaries on a monthly basis) shall be promptly deposited with a Depositary to the credit of its operating account designated “VIT Operating Account”. For clarity, each of VIT’s current and future Subsidiaries (including HRCP) shall maintain its own applicable Liquidity Reserve Requirement and only distribute to VIT its applicable Net Revenue. (b) On a monthly basis, on the VIT Payment Date, VIT (and any existing or future Subsidiaries of VPA or VIT) shall pay to VPA from the VIT Operating Account an amount equal to its Net Revenue, if any, for the immediately preceding VIT Measurement Period. (c) During any Fiscal Year, the balance in the VIT Operating Account may be less than the Liquidity Reserve Requirement, provided that the amount of any Liquidity Reserve Requirement Shortfalls is restored in accordance with this Section 4.1(c). For any Measurement Period in which a Liquidity Reserve Requirement Shortfall occurs, no payment shall be made to VPA on the immediately following VIT Payment Date. A Liquidity Reserve Requirement Shortfall shall be restored on a monthly basis over a period of up to thirty-six months beginning on the next VIT Payment Date (so long as no Liquidity Reserve Requirement Shortfall occurs for the Measurement Period applicable to such VIT Payment Date). Such amount as determined by VIT, and approved by VPA, shall be no less than 1/36th of the Liquidity Reserve Requirement Shortfall (each such monthly restoration amount, a “Liquidity Reserve Requirement Restoration Amount”). Notwithstanding the foregoing, a Liquidity Reserve Requirement Shortfall may be restored in full by VIT at any time with VPA’s approval. Further, any Liquidity Reserve Requirement Shortfall may be recalculated and combined with any additional subsequent Liquidity Reserve Requirement Shortfall at any time by VIT, if approved by VPA, provided that the recalculation of the Liquidity Reserve Requirement Restoration Amount shall not extend the restoration of any Liquidity Reserve Requirement Shortfall beyond the original permitted thirty-six month period. (d) On the adoption of each VIT Annual Budget, if the new Liquidity Reserve Requirement is greater than the prior year’s Liquidity Reserve Requirement, the difference shall be considered a Liquidity Reserve Requirement Shortfall for the first Measurement Period to which the new VIT Annual Budget applies and shall be restored within the fi...
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Payment of Net Revenue. Promptly following each UNLV Event, Licensor shall account for all gross revenue collected by Licensor and the Net Parking Revenue, Net Food and Beverage Revenue and any other net revenue amounts (including by reason of Article 12.5) due to Licensee hereunder (collectively, the “Net Revenues”) for such UNLV Event. With respect to each UNLV Event, Licensor shall pay suchthe Net RevenueRevenues on account thereof to Licensee within sixty (60) days of itsLicensor’s receipt thereof for such UNLV Event.. Licensor shall provide a statement to Licensee accounting for receiptsthe Net Revenues by revenue category (together with invoices from the Concessionaire, the parking manager, the security provider and other vendors with invoices in excess of $One Thousand Dollars ($1,000.00) in respect of each UNLV Event and the application of any such amounts for the purpose of offsetting any loss or shortfall, or remaining obligation or liability of Licensee to Licensor, with such obligationsoffset, loss or liabilities to be offsetshortfall, or obligation or liability itemized by expense category. Subject to Section 13.3, Licensee shall examine such statement and notify Licensor in writing of any error in the accounting or of any objection to any payment, and unless Licensee shall so notify Licensor in writing of such claimed error or objection within forty-five (45) days of its receipt of the statement, such statement shall be deemed to be a true and correct statement of the account between Licensor and Licensee, absent fraud, manifest error or intentional misstatements or omissions.
Sample 1
Payment of Net Revenue. 1. The SERVICE PROVIDER shall, on an annual basis, pay to the MUNICIPALITIES all fines, fees, costs, surcharges and other revenue collected on behalf of the MUNICIPALITIES under the terms of the TRANSFER AGREEMENT, minus the following amounts: a) The SERVICE PROVIDER’s annual remuneration, as set out above; b) monthly “other costs”, as set out above; and c) amounts payable to the Minister of Finance for the Province of Ontario as set out in section 6.0 of the MOU. For the purposes of this agreement, the amounts payable to the MUNICIPALITIES, less the amounts set out above, shall be referred to as the “Net Revenue”. 2. The SERVICE PROVIDER shall pay the Net Revenue directly to each of the individual member MUNICIPALITIES according to the percentages based on the 2021 Census information. Elliot Lake 11,372 71.10% 6,275 67.92% 69.51% Blind River 3422 21.39% 2,207 23.89% 22.64% Spanish 670 4.19% 392 4.24% 4.22% Twp. North Shore 531 3.32% 365 3.95% 3.64% 15,995 9,239 3. In the event that there is a deficiency at year end, the individual member MUNICIPALITIES shall pay the SERVICE PROVIDER, their portion according to the percentages of allocations.
Sample 1

Related to Payment of Net Revenue

  • Payment of GST Payment of the additional amount will be made at the same time as payment for the supply is required to be made under this Contract.

  • Subordinated Share of Net Sales Proceeds The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 10% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8% Return and 100% of Invested Capital. Following Listing, no Subordinated Share of Net Sales Proceeds will be paid to the Advisor.

  • Distribution Assistance Fees (Asset-Based Sales Charge) Payments In its sole discretion and irrespective of whichever alternative method of making service fee payments to Recipients is selected by the Distributor, in addition the Distributor may make distribution assistance fee payments to a Recipient quarterly, or at such other interval as deemed appropriate by the Distributor, within forty-five (45) days after the end of each calendar quarter or other period, at a rate not to exceed 0.1875% (0.75% on an annual basis) of the average during the period of the aggregate net asset value of Shares computed as of the close of each business day constituting Qualified Holdings owned beneficially or of record by the Recipient or its Customers until such Shares are redeemed or converted to another class of shares of the Fund, provided, however, that a majority of the Independent Trustees may, but are not obligated to, set a time period (the "Recipient Maximum Holding Period") for making such payments. Distribution assistance fee payments shall be made only to Recipients that are registered with the SEC as a broker-dealer or are exempt from registration. The distribution assistance to be rendered by the Recipients in connection with the sale of Shares may include, but shall not be limited to, the following: distributing sales literature and prospectuses other than those furnished to current Shareholders, providing compensation to and paying expenses of personnel of the Recipient who support the distribution of Shares by the Recipient, and providing such other information and services in connection with the distribution of Shares as the Distributor or the Fund may reasonably request.

  • Payment of Royalties To the best of Seller’s knowledge, all royalties and in-lieu royalties with respect to the Assets which accrued or are attributable to the period prior to the Effective Time have been properly and fully paid, or are included within the suspense amounts being conveyed to Buyer pursuant to Section 11.4.

  • Payment of Royalty The royalty obligation under Section 5.4 shall accrue upon the sales of a Licensed Product in each particular country in the Territory, commencing upon [***], and such obligation shall end upon the expiration of the Royalty Term applicable to such Licensed Product in such country. All such royalty payments are non-refundable and non-creditable and shall be due within [***] days of the end of each [***] and are payable in immediately available funds. ProNAi shall notify Marina in writing promptly upon the First Commercial Sale of Licensed Product in each country and thereafter ProNAi shall furnish Marina with a written report (the “Royalties Report”) for each completed [***] showing, on a country-by-country basis, according to the volume of units of Licensed Product sold in each such country (by SKU) during the reporting period (whether Licensed Product is sold by ProNAi or its Affiliates or Sublicensees): (a) the gross invoiced sales of the Licensed Product sold in each country during the reporting period, and the amounts deducted therefrom to determine Net Sales from such gross invoiced sales; (b) the royalties payable in dollars, if any, which shall have accrued hereunder based upon Net Revenues from sales of Licensed Product; and (c) the withholding taxes, if any, required by Applicable Law to be deducted in respect of such sales (provided that, as to sales by Sublicensees, ProNAi shall report only the net sales numbers (using the definition for such term in the applicable sublicense agreement) as reported by the Sublicensee, if such Sublicensee does not report gross invoiced sales numbers). With respect to sales of Licensed Product invoiced in US dollars, the gross invoiced sales, Net Revenues and royalties payable shall be expressed in the Royalties Report in US Dollars. With respect to sales of Licensed Product invoiced in a currency other than US dollars, the gross invoiced sales, Net Sales and royalties payable shall be expressed in the Royalties Report in the domestic currency of the party making the sale as well as in the US dollar equivalent of the Royalty payable and the exchange rate used in determining the amount of US dollars. The US dollar equivalent shall be calculated on a calendar-month basis using the average monthly interbank rate listed in the Wall Street Journal.

  • Distributions of Net Cash Flow The Net Cash Flow of the Partnership for each calendar year, shall be distributed to the Partners from time to time, in the discretion of the General Partner, in accordance with the Percentage Interests of the Partners.

  • Payment of Sales, Use or Similar Taxes All sales, use, transfer, intangible, recordation, documentary stamp or similar Taxes or charges, of any nature whatsoever, applicable to, or resulting from, the transactions contemplated by this Agreement shall be borne by the Sellers.

  • Additional Fee on Late Payments For any payments thirty (30) calendar days or more overdue under this Agreement, Registry Operator shall pay an additional fee on late payments at the rate of 1.5% per month or, if less, the maximum rate permitted by applicable law.

  • Royalty Payments (1) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate. (2) LICENSEE shall pay earned royalties quarterly on or before February 28, May 31, August 31 and November 30 of each calendar year. Each such payment shall be for earned royalties accrued within LICENSEE’s most recently completed calendar quarter. (3) Royalties earned on sales occurring or under sublicense granted pursuant to this Agreement in any country outside the United States shall not be reduced by LICENSEE for any taxes, fees, or other charges imposed by the government of such country on the payment of royalty income, except that all payments made by LICENSEE in fulfillment of UNIVERSITY’s tax liability in any particular country may be credited against earned royalties or fees due UNIVERSITY for that country. LICENSEE shall pay all bank charges resulting from the transfer of such royalty payments. (4) If at any time legal restrictions prevent the prompt remittance of part or all royalties by LICENSEE with respect to any country where a Licensed Product is sold or a sublicense is granted pursuant to this Agreement, LICENSEE shall convert the amount owed to UNIVERSITY into US currency and shall pay UNIVERSITY directly from its US sources of fund for as long as the legal restrictions apply. (5) LICENSEE shall not collect royalties from, or cause to be paid on Licensed Products sold to the account of the US Government or any agency thereof as provided for in the license to the US Government. (6) In the event that any patent or patent claim within Patent Rights is held invalid in a final decision by a patent office from which no appeal or additional patent prosecution has been or can be taken, or by a court of competent jurisdiction and last resort and from which no appeal has or can be taken, all obligation to pay royalties based solely on that patent or claim or any claim patentably indistinct therefrom shall cease as of the date of such final decision. LICENSEE shall not, however, be relieved from paying any royalties that accrued before the date of such final decision, that are based on another patent or claim not involved in such final decision, or that are based on the use of Technology.

  • Total Payments to Other Dist & Govt Units Tuition (In State) 2500 2600 2600 2900 2000 3000 4000 4100 4200 4300 4000 5000 5100 5200 5000 6000

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