Net Order Intake definition
Net Order Intake means, without duplication, the Company's and Purchaser's (or any of their respective Subsidiaries') aggregate revenues actually collected from binding orders placed during the Earn-Out Period (each, a "Qualified Order") for products or services sold by the Company, Purchaser or any of their respective Subsidiaries to the government of India pursuant to (i) the Supply Contract and/or License Agreements between the president of India and AB Bofors as of March 1986, (ii) any subsequent agreement or order entered into for the purchase of any products or spare parts for the FH77B of the type which may be purchased pursuant to the terms of the Supply Contract and/or License Agreement described in clause (i), or (iii) any agreement or order for the purchase and sale of the howitzer upgrade known as the FH77BD/L45mkI (Indien) (whether such revenues are collected during the Earn-Out Period or at any time thereafter); provided, however, that Net Order Intake shall not include any revenues earned by the Company or its Subsidiaries pursuant to the India Supply Agreement. A portion of the Earn-Out shall be paid each January 31st (each a "Payment Date") by wire transfer of immediately available funds to an account designated by Seller to Purchaser and the Company in writing until all amounts payable as a result of the Earn-Out have been paid in full. Prior to each Payment Date, the Company shall deliver a written notice to the Seller setting forth the Qualified Orders which accrued during the previous calendar year, the revenues collected from Qualified Orders during the previous calendar year and a calculation of the amount payable to Seller on such Payment Date (calculated in accordance with the next sentence). The amount payable on each such Payment Date shall be equal to (A) 2% of (x) the aggregate amount of revenues from Qualified Orders actually collected by the Company during all calendar years during the Earn-Out Period preceding such Payment Date, minus (y) the aggregate Earn-Out Threshold Amount ----- for all calendar years during the Earn-Out Period preceding such Payment Date, minus (B) the aggregate amount paid by Purchaser or the Company to Seller ----- pursuant to this Section 2.2(c) prior to such Payment Date; provided, however, ------- -------- ------- in the event such amount is a negative number, the amount payable by Purchaser or the Company to Seller on such Payment Date shall be zero and Seller shall have no obligation to pay Purchaser or the Comp...
Net Order Intake shall have the meaning set forth in Section ------- 2.2(c).