Excess Annual Royalty Payments definition

Excess Annual Royalty Payments means, on any date of determination following the Royalty Sharing Threshold Date, the excess, if any, of (x) the aggregate amount of Purchased Receivables received by Purchaser during any Royalty Year over (y) $1,062,500; provided, however, that in no event shall Seller be entitled to any portion of the Purchased Receivables received by Purchaser until the Total Net Amount exceeds the Royalty Sharing Threshold Amount in the aggregate. As an example, if (i) Purchaser has received Purchased Receivables in the aggregate through the third Royalty Year equal to $4,500,000, (ii) the First Additional Payment Condition and Second Additional Payment Condition have been met and the resulting Purchase Price equals $4,500,000 and (iii) Purchaser receives Royalty Payments equal to $2,000,000 in Royalty Year four, the Excess Annual Royalty Payments for Royalty Year four shall be $937,500, fifty percent (50%) of which will be remitted to Seller pursuant to Section 2.1(c) hereof
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Excess Annual Royalty Payments means, on any date of determination following the Royalty Sharing Threshold Date, the excess, if any, of (x) the aggregate amount of Purchased Receivables received by Purchaser during any Royalty Year over (y) $1,062,500; provided, however, that in no event shall Seller be entitled to any portion of the Purchased Receivables received by Purchaser until the Total Net Amount exceeds the Royalty Sharing Threshold Amount in the aggregate. As an example, if (i) Purchaser has received Purchased Receivables in the aggregate through the third Royalty Year equal to $5,000,000, (ii) the First Additional Payment Condition and Second Additional Payment Condition have been met and the resulting Purchase Price equals $5,000,000, and (iii) Purchaser receives Purchased Receivables equal to $2,000,000 in Royalty Year four, the Excess Annual Royalty Payments for Royalty Year four shall be $937,500, fifty percent (50%) of which will be remitted to Seller pursuant to Section 2.1(c) hereof. For purposes of clarity, any Original Purchased Receivables shall not be counted in calculating Excess Annual Royalty Payments under this Agreement.
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Excess Annual Royalty Payments means, following the Royalty Sharing Threshold Date, the excess, if any, of (x) the aggregate Royalty Payments received by Purchasers during any Royalty Year over (y) $***; provided, however, that in no event shall Seller be entitled to any portion of the Royalty Payments received by Purchasers until the Total Net Amount exceeds the Royalty Sharing Threshold Amount in the aggregate. As an example, if Purchasers have received Royalty Payments in the aggregate through the third Royalty Year equal to $***, and receives Royalty Payments equal to $*** in Royalty Year four, the Excess Annual Royalty Payments for year four shall be $***.
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Examples of Excess Annual Royalty Payments in a sentence

  • Others seem more hesitant about greater liberalisation: the Council rejected Parliament’s proposal to liberalise cabotage completely as of January 2014, but requires the Commission to produce a report assessing « whether the progress in the harmonisation of certain rules (for instance, enforcement and road user charges) allows further opening of the domestic transport markets, including cabotage » by the end of 2013.

  • Any such Sharing Payments shall be paid to Seller by wire transfer of immediately available funds to the account set forth in Exhibit A within five (5) Business Days of actual receipt of any Excess Annual Royalty Payments by Purchaser.

  • Any such Sharing Payments shall be paid to Seller by wire transfer of immediately available funds to the account set forth in Exhibit A within five (5) Business Days of actual receipt of any Excess Annual Royalty Payments by Purchaser pursuant to this Agreement.

  • After the Royalty Sharing Threshold Date, Purchaser shall remit to Seller an amount equal to fifty percent (50%) of any Excess Annual Royalty Payments received by Purchaser (each, a “Sharing Payment”) during any Royalty Year.

  • After the Royalty Sharing Threshold Date, Purchasers shall remit to Seller an amount equal to twenty-five percent (25%) of any Excess Annual Royalty Payments (each, a “Sharing Payment”).

  • Any such Sharing Payments shall be paid to Seller by wire transfer of immediately available funds to the account set forth in Exhibit A within five (5) Business Days of actual receipt of any Excess Annual Royalty Payments by Purchasers.

Related to Excess Annual Royalty Payments

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

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

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

  • 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.

  • Semi-Annual Period means each of: the period beginning on and including January 1 and ending on and including June 30; and the period beginning on and including July 1 and ending on and including December 31.

  • 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.

  • 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"

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

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Net Sales means [***].

  • Sublicense Income means any payments that Company receives from a Sublicensee in consideration of the sublicense of the rights granted Company under Section 2.1., including without limitation license fees, royalties, milestone payments, and license maintenance fees, but excluding the following payments: (a) payments made in consideration for the issuance of equity or debt securities of Company at fair market value, and (b) payments specifically committed to the development of Licensed Products.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

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

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

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