Minimum Quarterly Payment definition

Minimum Quarterly Payment shall have the meaning set forth in Section 4.4(e)(iii).

Minimum Quarterly Payment shall have the meaning set forth in Paragraph 4.2(a) of Schedule I.

Minimum Quarterly Payment means, with respect to any Fiscal Quarter during the Term, an amount equal to the difference between (i) the applicable Minimum Quarterly Royalty and (ii) the aggregate Monthly Royalties paid to Ligand with respect to such Fiscal Quarter. “Minimum Quarterly Royalty” shall mean the applicable Minimum Annual Royalty divided by four; provided, however, that for the final Fiscal Quarter of the Term, the “Minimum Quarterly Royalty” shall mean the applicable Minimum Annual Royalty divided by four multiplied by the fraction of such Fiscal Quarter that is within the Term. “Minimum Quarterly Royalty Overpayment” shall have the meaning set forth in Section 2.02(b)(ii). “Monthly Report” shall mean, with respect to the relevant Payment Month of the Company, a report showing (a) the gross revenues of the Products for such Payment Month, (b) the Net Sales Proceeds for such Payment Month, (c) the Excluded Costs for such Payment Month, and (d) a reasonable calculation of the amount to which Ligand is entitled for such Payment Month pursuant to Section 2.02(a) of this Agreement. “Monthly Royalty” shall mean, with respect to each Payment Month, the amount due to Ligand pursuant to Section 2.02(a) for such Payment Month. “Net Sales Proceeds” shall mean the aggregate amount of sales proceeds received by the Company (or an Affiliate, agent or sublicensee thereof, as applicable) and its Subsidiaries for Products in any Payment Month during the Term, less Excluded Costs. “Obligations” shall mean any and all payment obligations of the Company under this Agreement. “Pari Passu Collateral” shall have the meaning set forth in the Intercreditor Agreement.

Examples of Minimum Quarterly Payment in a sentence

• The Minimum Quarterly Payment to be paid by the CBOT in respect of MGEX for each OYP during the Initial Term is [**].

• The Minimum Quarterly Payment to be paid by the CBOT in respect of MGEX for each OYP during a Renewal Term is the greater of (x) the Minimum Quarterly Payment during the Initial Term and (y) such amount to be agreed upon by LIFFE and the CBOT, which amount shall be approximately commensurate to [**] of the Hosting Fees payable by the CBOT with respect to the MGEX during the OYP immediately prior to the commencement of the applicable Renewal Term.

• For clarity, Collegium shall not be deemed to be in breach of its obligation to make any Minimum Quarterly Payment to Depomed under this Agreement in the event that Depomed does not receive its full Minimum Quarterly Payment through the Sales Account and Depomed is eligible to, and does, draw on the Letter of Credit in accordance with Section 7.7(a) to satisfy any such Quarterly Shortfall.

• For purposes of this Section 7.03(b), the Minimum Quarterly Payment obligation set forth in Section 2.02(b) shall be deemed to be an obligation to pay Purchaser, in respect of each such Fiscal Quarter during the Minimum Annual Payment Period, following such assignment, an amount equal to the applicable Acquiror Minimum Quarterly Payment Amount in respect of such Product Change of Control.

• Depomed shall have the right to draw upon the Letter of Credit, up to the Maximum Stated Value, in the event that there is a shortfall in the Minimum Quarterly Payment made to Depomed by Collegium pursuant to Section 7.3(a) hereof, solely to the extent of such quarterly shortfall as determined in good faith by Depomed (a “Quarterly Shortfall”), provided that Collegium does not pay the amount of such Quarterly Shortfall to Depomed within forty-five (45) days after the last day of such calendar quarter.

More Definitions of Minimum Quarterly Payment

Minimum Quarterly Payment has the meaning set forth in Section 7.3(a).

Minimum Quarterly Payment shall have the meaning set forth in Section 5.2.5 of the Agreement.

Minimum Quarterly Payment has the meaning as defined in the Commercialization Agreement.”

Minimum Quarterly Payment shall have the meaning set forth in Section 2.9(b) herein.

Minimum Quarterly Payment shall have the meaning set forth in Section 2.02(b).

Minimum Quarterly Payment in any Quarter means the Minimum Quarterly Royalty together with the applicable P/D Charge as follows: ------------------------- * Omitted pursuant to an application for confidential treatment. [ -------- -------- -------- -------- ---------- ]*

Minimum Quarterly Payment means, with respect to any Fiscal Quarter during the Term, an amount equal to the difference between (i) the applicable Minimum Quarterly Royalty and (ii) the aggregate Monthly Royalties paid to Ligand with respect to such Fiscal Quarter.