Examples of Minimum Annual Payment in a sentence
Each Minimum Annual Payment will be deemed a non-refundable payment by Licensee of Royalties due under this Agreement for the applicable Contract Year.
Such Minimum Annual Payment shall not be credited, offset or deducted against any other Royalties or any other payments or amounts owed by one party to the other party under this Agreement or otherwise.
The Minimum Annual Payment is nil for the calendar year in which the first contract year date begins.
Notwithstanding the definition of “Call Price”, in the event of a breach by the Member of Section 9.04, (1) the “Call Price” shall be no or nominal consideration as determined in the Manager’s sole discretion, and 2B) to the extent a Company Note has been issued to such Call Member, or consideration payable pursuant to this Section 9.05 is otherwise payable in installments (including any Minimum Annual Payment), all remaining amounts payable to such Call Member shall be deemed forfeited.
Licensee will not be entitled to a reduction in the Minimum Annual Payment to the extent that other versions of the PS Product Software have been made available to Licensee which allow Licensee to reasonably continue shipping Licensee Products.