Annual Minimum Royalty definition

Annual Minimum Royalty means the applicable amount set forth in Section 0.
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Annual Minimum Royalty shall have the meaning as set forth in Section 3.1(b). 1.5
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Annual Minimum Royalty shall be determined by the following table.
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Examples of Annual Minimum Royalty in a sentence

  • The Annual Minimum Royalty shall be credited against the Royalties payable in a Year.

  • To exercise its Option pursuant to Section 2.4 above, CI shall pay MPI a license fee for each individual MPI Technology Package added hereunder that approximates [*] for the first year (subject to the credit applied under Section 3.7 above), after which time the Annual Minimum Royalty of Section 3.2 would apply.

  • Should Inverness default in its payment of the Annual Minimum Royalty and fail to cure such default, then BioCurex may terminate this Agreement for cause in accordance with Section 0.

  • Thereafter, for the remainder of the Annual Minimum Royalty Term, Inverness shall pay BioCurex an Annual Minimum Royalty of *.

  • During the Royalty Term, Transave shall pay to PARI an Annual Minimum Royalty in US dollars in accordance with Section 9.3 below; provided, however, that, in the event Transave has permanently discontinued to Exploit the Drug Product for CF in accordance with Section 7.1(a), then the Annual Minimum Royalty shall no longer be applicable for the Drug Product for CF but the obligation to pay Annual Minimum Royalties for the Drug Product for Bronchiectasis shall remain in effect.

  • The Annual Minimum Royalty will be credited against the total Royalties due and owed for the calendar year in which the Annual Minimum royalty was paid.

  • Should royalties paid fall short of the stipulated Annual Minimum Royalty for a given year counted from the Effective Date, Inverness shall have thirty (30) days after the end of such year to pay the difference.

  • For the two years of the Annual Minimum Royalty Term following such period, Inverness shall pay BioCurex an Annual Minimum Royalty of *.

  • Royalties paid to third parties as provided for above shall constitute a deduction from GROSS RECEIPTS for determining Earned Royalties hereunder and shall be included when determining whether the Annual Minimum Royalty provided for in this Agreement has been paid in a given year.

  • If the Sell-Off Period ends at any time other than the end of a Royalty Year, the Guaranteed Annual Minimum Royalty for that Royalty Year will be pro-rated based on a fraction, the numerator of which is the number of months of the Royalty Year that occurred prior to the end of the Sell-Off Period and the denominator of which will be 12.


More Definitions of Annual Minimum Royalty

Annual Minimum Royalty means the minimum dollar remuneration to be paid by THEROX to WSU in a given year that this Agreement is in force, not based upon NET SALES.
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Annual Minimum Royalty. The calendar year minimum royalty payable by FRANCHISEE to FRANCHISOR, which is the sum of $10,000 beginning in the 3rd full calendar year after the effective date of this Agreement. Buyer A Buyer or proposed Buyer of all or any part or interest in FRANCHISEE’S Business, FRANCHISEE’S rights under this Agreement, or the FRANCHISEE Transferee Entity The area described in subsection 2.3 in which FRANCHISEE may locate FRANCHISEE’S Office. FRANCHISEE’S Business The business operated by FRANCHISEE pursuant to this Agreement. FRANCHISEE’S Obligations The obligations set forth in this Agreement and any other agreement between FRANCHISEE and FRANCHISOR and in the Manual as it may be changed from time to time by the FRANCHISOR. Franchise Agreement
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Annual Minimum Royalty. [ * ] until first commercial sales of Licensed Product(s) and/or Licensed Process(es) occurs, payable quarterly in accordance with section 6.01; [ * ] of Licensed Product(s) and/or Licensed Process(es), payable quarterly in accordance with section 6.01. The Annual Minimum Royalty will be credited against any Earned Royalties that are payable for each reporting period.
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Related to Annual Minimum Royalty

  • Minimum Royalty has the meaning set forth in Section 4.4(c).

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Royalty Fee “Royalty Fee” means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Net Sales Price means the gross sales price to retailers of all Licensed Products sold under this Agreement or, with respect to Licensed Products that are not sold directly or indirectly to retailers, other ultimate consumers (as in the case of accommodation sales by Licensee to its employees or sales by Licensee in its own shops), less trade discounts, merchandise returns, sales tax (if separately identified and charged) and markdowns and/or chargebacks which, in accordance with generally accepted accounting principles, would normally be treated as deductions from gross sales, and which, in any event, do not include any chargebacks or the like for advertising, fixture or retail shop costs or contributions. Notwithstanding the foregoing, Licensor hereby waives its right to (i) receive royalties hereunder for, or (ii) include within the calculation of Net Sales Price for the purpose of calculating the Annual Advertising Obligation as set forth in paragraph 4.6 hereof, sales of units of Licensed Products sold at a discount of [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] or more off the regular wholesale price ("Discounted Units"), provided that such waiver shall only apply to the extent that the aggregate Net Sales Price of Discounted Units for any year does not exceed [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] of the Net Sales Price of all units of Licensed Products other than Discounted Units sold in such year. No other deductions shall be taken. Any merchandise returns shall be credited in the quarter in which the returns are actually made. For purposes of this Agreement, affiliates of Licensee shall mean all persons and business entities, whether corporations, partnerships, joint ventures or otherwise, which now or hereafter control, or are owned or controlled, directly or indirectly by Licensee, or are under common control with Licensee. It is the intention of the parties that royalties will be based on the bona fide wholesale prices at which Licensee sells Licensed Products to independent retailers in arms' length transactions. In the event Licensee shall sell Licensed Products to its affiliates, royalties shall be calculated on the basis of such a bona fide wholesale price irrespective of Licensee's internal accounting treatment of such sale unless such products are sold by its affiliates directly to the end-user consumer, in which case royalties shall be calculated on the basis of the price paid by the end-user consumer, less applicable taxes. Licensee shall identify separately in the statements provided to Licensor pursuant to paragraph 7 hereof, all sales to affiliates. At least once annually and no later than 90 days after the close of Licensee's fiscal year, Licensee shall furnish to Licensor a statement of the Net Sales Price of all Licensed Products sold during the year just ended, which shall be certified by the independent auditor for Licensee as correct and in accordance with the terms of this Agreement.

  • Net Sales means [***].

  • Gross Profits means the gross profits calculated under section 4;

  • License year means the period of time for which a

  • Royalty Rate means the percentage defined in Exhibit B.

  • Year 1 means the year next following the export date and “year” followed immediately by any other numeral has a corresponding meaning; reference in this Agreement to an Act shall include the amendments to such Act for the time being in force and also any Act passed in substitution therefor or in lieu thereof and the regulations for the time being in force thereunder; power given under any clause of this Agreement other than clause 17 hereof to extend any period or date shall be without prejudice to the power of the Minister under the said clause 17; marginal notes shall not affect the interpretation or construction hereof; the phases in which it is contemplated that this Agreement will operate are as follows —

  • Gross Sales Price with respect to each sale of Shares sold pursuant to this Agreement shall be the gross sales price per share of such Shares.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.

  • Calendar Year means each successive period of twelve (12) calendar months commencing on January 1 and ending on December 31, except that the first Calendar Year of the Term shall commence on the Effective Date and end on December 31 of the year in which the Effective Date occurs and the last Calendar Year of the Term shall commence on January 1 of the year in which the Term ends and end on the last day of the Term.

  • Rate of Gross Profit means the gross profit earned expressed as a percentage of the turnover during the period between the date of the commencement of the business and the date of the incident.

  • Net Revenues means revenues less related expenses, including

  • Planning Period Quarter means any of the following three month periods in the Planning Period: June, July and August; September, October and November; December, January and February; or March, April and May.