Minimum Annual Amount definition

Minimum Annual Amount means, with respect to each Product that is sold by a Sublicensee, of the Net Sales of such Product by such Sublicensee in the relevant calendar year. “Maximum Annual Amount” means, with respect to each Product that is sold by a Sublicensee, of the Net Sales of such Product by such Sublicensee in the relevant calendar year.
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Minimum Annual Amount means, with respect to each Product that is sold by a Sublicensee, , world-wide Net Sales of such Product by such Sublicensee in the relevant Calendar Year.
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Minimum Annual Amount has the meaning set forth in Section 3.2.
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Examples of Minimum Annual Amount in a sentence

  • For the 2021 and 2022 Fiscal Years, if the Limited Partner is eligible to receive the 2021/2022 Minimum Annual Amount, the Limited Partner’s target minimum amount shall be an amount between the 2021/2022 Minimum Annual Amount and $2,000,000, subject to the terms and conditions herein.

  • The Minimum Annual Amount will be adjusted annually following the first three years of the term, based on upon the percentage increase or decrease to the Consumer Price Index as determined by the United States Government.

  • Seller shall have the right in its discretion to terminate this Agreement prior to the expiration of the term only if Buyer does not pay the Minimum Annual Amount to Seller in respect of any 12 month period of the term, other than the initial 12 month period of the term.

  • During the Royalty Period, the Company shall pay to Ramot an amount (the “Percentage Amount”), but in any event not less than the Minimum Annual Amount and not more than the Maximum Annual Amount for each Calendar Year.

  • The “Outstanding Amount” is determined by subtracting (i)*** (i.e., the Minimum Annual Amount) from (ii) the total amount calculated by adding*** received by ViroPharma from NPI during that calendar year.

  • Each amount to be calculated and credited as set forth for any single item as described in Section 3.4(a) through (e) and (g) above will be credited only one time against both the Minimum Annual Amount and the Minimum Aggregate Amount.

  • Notwithstanding anything to the contrary in this Project Agreement No. 2, if ViroPharma elects to terminate this Project Agreement No. 2, ViroPharma is obligated to provide NPI with the Minimum Annual Amount during the termination notice period (if the ANDA approval has occurred as set forth above); provided, however, that the Minimum Annual Amount calculation shall be pro-rated based on the date when the termination becomes effective.

  • Each *** following the ANDA Approval, and each subsequent *** during the Term thereafter, the parties shall cooperate and work in good faith to determine whether ViroPharma is responsible for any additional payments to reach the Minimum Annual Amount and NPI shall invoice ViroPharma for such Outstanding Amount (as defined below) no earlier than *** and no later than ***.

  • For example, if ViroPharma elects to terminate upon *** months pursuant to Section 7 and notifies NPI of its intent to terminate effective on July 15, 20xx, then the Minimum Annual Amount shall be pro-rated to 196/365 of its amount for the calendar year when the termination became effective.

  • Moreover, should such Patent Challenge be rejected or dismissed the royalty rates payable to Ramot shall be tripled (including the Minimum Annual Amount, as defined in Section 7.3.2 below).


More Definitions of Minimum Annual Amount

Minimum Annual Amount shall be as defined in Section 3.2 hereof, calculated and credited in accordance with Sections 3.3 and 3.4 hereof.
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