Examples of First Contract Period in a sentence
The first Contract Period ('First Contract Period') hereunder shall start on May 27, 1995 and end on the earlier of either (i) November 29, 1996, (ii) the Early Termination Date (as such capitalized term is defined in Xxxxxxxxx 00 xxxxx), xx (xxx) the Reversion Date (as such capitalized term is defined in Paragraph 28 below).
Any repayment amount due to Medtronic with respect to the Second Contract Period under the foregoing provision may be reduced by the amount of any repayment made under such provision with respect to the First Contract Period.
During the First Contract Period, Licensee shall expend for promotion and advertising of the Products in the Territory an amount equal to not less than one percent (1%) of its Net Sales of the Products for co-op advertising or media advertising directed to consumers.
If Licensee's Net Sales with respect to any Contract Period after the First Contract Period are less than $3,000,000 for such Contract Period, then Licensor may terminate this Agreement as provided for hereafter.
Medtronic agrees to keep accurate written records sufficient in detail to enable WGT to determine and verify the number of Tantalum Capacitors used by Medtronic and its Affiliates (i.e. their requirements) during the First Contract Period and during each year of the Second Contract Period.
WGT agrees to keep accurate written records sufficient in detail to enable Medtronic to determine and verify the number of Licensed Products purchased by Medtronic and its Affiliates during the First Contract Period and during each year of the Second Contract Period.
For example, if the Effective Date is February 1, 2007 and the first Master Agreement provides that it will run until June 30, 2007 and a second Master Agreement is signed at the same time for three additional years, the First Contract Period will run from February 1, 2007 to June 30, 2007.
The preventative maintenance contract shall be in effect between the dates specified in the Form of Proposal starting with the "First Contract Period".
As consideration for the licenses and other rights granted hereunder and under the Sublicense Agreement, Medtronic shall pay to WGT the initial license fee provided for in Section 3.2 and the royalties set forth in Sections 3.3, 3.4 and, if applicable, Section 3.5 below during the First Contract Period, the Second Contract Period and the Third Contract Period (if any).
Commencing in the Contract Period following the First Contract Period, Licensee shall pay to Licensor quarter-annually, within thirty (30) days following each calendar quarter, one percent (1%) of Licensee's Net Sales of the Products, which shall be contributed to a joint advertising fund established by Licensor to be utilized for advertising of products marketed under the Trademark.