REVENUE CONTRIBUTION Sample Clauses
The Revenue Contribution clause defines how revenue generated from a particular project, product, or partnership will be attributed or allocated among the involved parties. Typically, this clause outlines the specific metrics or methods used to calculate each party's share of the revenue, such as percentage splits, thresholds, or timelines for distribution. Its core practical function is to ensure transparency and prevent disputes by clearly establishing how financial benefits are shared, thereby aligning expectations and responsibilities among stakeholders.
REVENUE CONTRIBUTION. A. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
B. Section 4.3.1 is repealed and replaced by the fo1lowing:
(a) The Tribe is entitled to operate no more than seven thousand five hundred (7,500) Gaming Devices, as set forth below, but its right to operate any Gaming Devices shall be conditioned upon its making the payments set forth under subdivision (b) in accordance with the terms set forth in subdivision (c). The number of Gaming Devices that may be operated is:
(i) 1,627, which were operated on September 1, 1999; and
(ii) 373, operated pursuant to licenses previously issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section 4.3.2.2 herein; and
(iii) up to 5,500 additional Gaming Devices.
(b) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 of this Amended Compact and to operate additional Gaming Devices outside the licensing system established by the 1999 Compact, and other valuable consideration, the Tribe shall pay to the State the following:
(i) an annual payment of thirty-six million, seven hundred thousand dollars ($36,700,000.00); and
(ii) an annual payment for the operation of the additional Gaming Devices identified in subdivision (a)(iii) of: (1) fifteen percent (15%) of tpe Net Win generated from the operation of up to three thousand (3,000) additional Gaming Devices over the existing two thousand (2,000) Gaming Devices specified in subdivisions (a)(i) and (a)(ii); plus (2) twenty-five percent (25%) ofthe Net Win generated from the operation ofup to an additional two thousand five hundred (2,500) Gaming Devices. The payments specified in this subdivision (b) have been negotiated between the parties as a fair contribution to be made annually in quarterly payments based upon the Tribe's market conditions, its circumstances, and the rights afforded by this Amendment.
(c) The Tribe shall remit the annual payments referenced in subdivision (b) to such agency, trust, fund or entity, as the State Director of Finance, pursuant to law, from time to time, shall specify to the Tribe in writing, in quarterly payments. The quarterly payments shall be due on the thirtieth (30th) day ▇▇▇▇▇▇.▇▇▇ the end of e_ach calendar quarter (i.e., by April 30 for the first quarter, July 30 for the second quarter, October 30 for the third quarter, and January ...
REVENUE CONTRIBUTION. A. Section 4.3.1 is repealed and replaced by the following:
Section 4.3.1. Except as set forth in Section 3.2, the Tribe shall not be limited with respect to the number of Gaming Devices that it may operate, but its right to operate any Gaming Devices shall be subject to its making the payments set forth under Section 4.3.2.2 and Section 4.3.3 herein in accordance with the terms set forth therein.
B. Sections 2.15, 4.3.2(a)(iii), 4.3.2.3, and 5.0 are repealed.
C. Section 4.3.2.2 is repealed and replaced by the following:
(a) The Tribe shall pay quarterly to the State Gaming Agency for deposit into the Revenue Sharing Trust Fund the fallowing fees for each Gaming Device in operation during the immediately preceding calendar quarter, based on the maximum number of Gaming Devices operated during said quarter, within 30 days of the end of each calendar quarter (on January 30, April 30, July 30, and October 30): Number of Gaming Devices Quarterly Fee Per Gaming Device 1-350 $0
(b) Fee payments pursuant to subdivision (a) shall be accompanied by a written certification of the maximum number of Gaming Devices operated during that calendar quarter. Such certification shall also show the computation for the quarterly fees due for the calendar quarter based on the fee schedule set forth in subdivision (a).
D. Section 4.3.3 is repealed and replaced by the following: Section 4.3.3.
(a) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section
REVENUE CONTRIBUTION. The Tribe shall pay to the State annually a revenue contribution of nine million dollars ($9,000,000). Such payments shall be made quarterly in accordance with the provisions of section 4.3, subdivision (a)(1).
REVENUE CONTRIBUTION. A. Section 4.3.1 is repealed and replaced by the following:
(a) The Tribe is entitled to operate the following number of Gaming Devices pursuant to the conditions set forth in Section 4.3.3:
(i) 416 Gaming Devices, which were operated on September 1999; and
(ii) 1346 Gaming Devices operated pursuant to licenses issued in accordance with former Section 4.3.2.2 of the 1999 Compact, which licenses shall be maintained during the term of this Amended Compact pursuant to Section
REVENUE CONTRIBUTION. A. Section 4.3.1 is repealed and replaced by the following:
Section 4.3.1. Except as set forth in Section 3.2, the Tribe shall not be limited with respect to the number of Gaming Devices that it may operate, but its right to operate any Gaming Devices shall be subject to its making the payments set forth under Section 4.3.2.2 and Section 4.3.3 herein in accordance with the terms set forth therein.
B. Sections 2.15, 4.3.2(a)(iii), 4.3.2.3, and 5.0 are repealed.
C. Section 4.3.2.2 is repealed and replaced by the following:
(a) The Tribe has decided, in the exercise of its sovereignty, to fund an endowment for the benefit of the Southern Indian Health Council, an inter-tribal organization comprised of seven Compact and Non-Compact Tribes and to make additional payments to five of those tribes, a majority of which are presently Non- Compact Tribes, during the term of this Amended Compact. In recognition of, and reliance on, said payments for the benefit of various Non-Compact Tribes and to allow expeditious funding of the endowment, the Tribe and the State have agreed that the Tribe's payments to the Revenue Sharing Trust Fund shall be as set forth in subdivision (b).
(b) Commencing on January 1 of the sixth calendar year of the Tribe's Gaming Activities, the Tribe shall pay on a quarterly basis to the State Gaming Agency for deposit into the Revenue Sharing Trust Fund the following annual fees in accordance with the following schedule within 30 days of the end of each calendar quarter (on January 30, April 30, July 30, and October 30):
(c) Payments pursuant to subdivision (b) shall be accompanied by a written certification that sets forth the payment schedule in subdivision (b) and specifies the date on which the Tribe's Gaming Activities commenced, the year of the present Gaming Activities, and the annual payment that applies to said year (of which the accompanying payment is for one quarter.)
(d) If the Tribe operates its Gaming Activities for at least two quarters during the first calendar year of its Gaming Activities under this Amended Compact, that year will be considered the first year of the Tribe's Gaming Activities for purposes of this section. Otherwise, the next calendar year of the Tribe's Gaming Activities will be considered the first year.
D. Section 4.3.3 is repealed and replaced by the following:
(a) The Tribe agrees that in consideration of the exclusive right to operate Gaming Devices within the geographic region specified in Section 3.2 an...
REVENUE CONTRIBUTION. Sections 2.15, 4.3.2.3, 5.0, 5.1, 5.2, and 5.3 are repealed.
REVENUE CONTRIBUTION. A. Section 4.3.1 is repealed and replaced by the following:
Section 4.3.1. The Tribe is authorized to operate up to 1100 Gaming Devices, but its right to operate any Gaming Devices shall be subject to its making the payments set forth under Section 4.3.2.2 and Section 4.3.3 herein in accordance with the terms set forth therein.
B. Sections 2.15, 4.3.2(a)(iii), 4.3.2.3, and 5.0 are repealed.
C. Section 4.3.2.2 is repealed and replaced by the following:
(a) If the Tribe earns over $75 million in Net Win (as defined in Section 4.3.3, subdivision (c)) generated from the operation of its Gaming Devices in any given calendar year, the Tribe agrees that it shall pay by January 30 of the following year to the California Gambling Control Commission for deposit into the Revenue Sharing Trust Fund the following fees for each Gaming Device in excess of 700 in operation during the preceding calendar year: 701-1100 $900 The Tribe need not make any payment to the Revenue Sharing Trust Fund based on the operation of 0-700 Gaming Devices. The number of Gaming Devices over 700 for the preceding calendar year, upon which fees will be paid, shall be based on the maximum number of Gaming Devices operated during any time in the preceding calendar year.
(b) Fee payments pursuant to subdivision (a) shall be accompanied by a written certification of the maximum number of Gaming Devices operated during the preceding year, which shall be prepared by the chief financial officer of the Gaming Operation. Such certification shall also show the computation for the fees that are due, based on the fee schedule set forth in subdivision (a).