Common use of Revenue-Based Payment Clause in Contracts

Revenue-Based Payment. (a) During the period commencing on the date hereof until the Obligations are Paid in Full, Borrower promises to pay to Agent, for the account of each Lender according to its Pro Rata Term Loan Share, an amount based on a percentage of the aggregate of Net Sales, Royalties and any other income or revenue recognized by Parent and/or its Subsidiaries, on a consolidated basis, in accordance with GAAP (collectively, the “Aggregate Revenue”) in each Fiscal Quarter (the “Revenue-Based Payment”), which will be applied to the Obligations as provided in clause (b) below. The Revenue-Based Payment with respect to each Fiscal Quarter shall be payable on the Payment Date next following the end of such Fiscal Quarter. Commencing with the Fiscal Quarter in which the Closing Date occurs, the Revenue-Based Payment with respect to each Fiscal Quarter shall be equal to the difference between (i) the aggregate Revenue-Based Payments payable from January 1 of the Fiscal Year of which such Fiscal Quarter is part through the end of such Fiscal Quarter, calculated as the sum of: (A) Fifteen percent (15%) of Aggregate Revenue up to and including $15,000,000.00 in such Fiscal Year; plus (B) Twelve and one-half percent (12.5%) of Aggregate Revenue greater than $15,000,000 in such Fiscal Year; and

Revenue-Based Payment. (a) During the period commencing on the date hereof until the Obligations are Paid in Full, Borrower promises to pay to Agentpay, for the account of each Lender according to its Pro Rata Term Loan Share, an amount based on a percentage of the aggregate of Net Sales, Royalties and any other income or revenue recognized by Parent and/or Borrower or its Subsidiaries, on a consolidated basis, Subsidiary in accordance with GAAP (collectively, the “Aggregate Revenue”) in each Fiscal Quarter (the “Revenue-Based Payment”), which will be applied to the Obligations as provided in clause (b) below. The Revenue-Based Payment with respect to each Fiscal Quarter shall be payable on the Payment Date next following the end of such Fiscal Quarter. Commencing with the Fiscal Quarter in which the Closing Date occursbeginning July 1, 2014, the Revenue-Based Payment with respect to each Fiscal Quarter shall be equal to the difference between (i) the aggregate Revenue-Based Payments payable from January 1 of the Fiscal Year of which such the Fiscal Quarter is part through the end of such Fiscal Quarter, calculated as the sum of: (A) Fifteen nine percent (159%) of Aggregate Revenue (up to and including $15,000,000.00 10,000,000) in such Fiscal Year; plus (B) Twelve and one-half seven percent (12.57.0%) of Aggregate Revenue (between $10,000,001 and up to and including $20,000,000) in such Fiscal Year; plus (C) five percent (5.0%) of Aggregate Revenue (greater than $15,000,000 20,000,000) in such Fiscal Year; and

Revenue-Based Payment. (a) During the period commencing on the date hereof until the Obligations are Paid in Full, Borrower promises to pay to Agent, for the account of each Lender according to its Pro Rata Term Loan Share, an amount based on a percentage of the aggregate of Net Sales, Royalties and any other income or revenue recognized by Parent Borrower and/or its SubsidiariesSubsidiary, on a consolidated basis, in accordance with GAAP (in each case, excluding the proceeds from Dispositions) (collectively, the “Aggregate Revenue”) in each Fiscal Quarter (the “Revenue-Based Payment”), which will be applied to the Obligations as provided in clause (b) below. The Revenue-Based Payment with respect to each Fiscal Quarter shall be payable on the Payment Date next following the end of such Fiscal Quarter. Commencing with the Fiscal Quarter in which the Closing Date occursbeginning April 1, 2015, the Revenue-Based Payment with respect to each Fiscal Quarter shall be equal to the difference between (i) the aggregate Revenue-Based Payments payable from January 1 of the Fiscal Year of which such Fiscal Quarter is part through the end of such Fiscal Quarter, calculated as the sum of: (A) Fifteen Eight and one-half percent (158.5%) of Aggregate Revenue up to and including $15,000,000.00 20,000,000 in such Fiscal Year; plus (B) Twelve and one-half seven percent (12.57.0%) of Aggregate Revenue greater than $15,000,000 20,000,000 up to and including $30,000,000 in such Fiscal Year; plus (C) five percent (5.0%) of Aggregate Revenue greater than $30,000,000 in such Fiscal Year; and