Net Proceeds Percentage definition

Net Proceeds Percentage has the meaning assigned to such term in Section 2.11(b)(ii).

Net Proceeds Percentage means sixty percent (60%) of any Net Proceeds derived from the Patents, provided that in the event any single transaction yields in excess of $3,000,000 in Net Proceeds due to the Patent Owner, the Net Proceeds Percentage shall increase to eighty percent (80%) on the portion of such single transaction’s Net Proceeds in excess of $3,000,000.

Net Proceeds Percentage means seven and one-half percent (7.5%) of any Net Proceeds derived from the Patents.

Examples of Net Proceeds Percentage in a sentence

• Patent Owner hereby irrevocably assigns to IPLLC the Net Proceeds Percentage of the Net Proceeds in perpetuity.

• Class 2 consists of the Allowed Secured Claim of Columbia Bank with respect to the Columbia-Glacierview Claim (the “Class 2 Claim”).6Upon the sale of Glacierview Property 1, Glacierview Property 2 and/or Glacierview Property7 3, the Holder of the Class 2 Claim shall hold a lien against the Net Proceeds Percentage attributable to such property in the same order, priority, and validity as the Columbia-Glacierview DOT to secure the8 Class 2 Claim.

• The following definition is added to Section 16.0 of the Agreement in proper alphabetical order: Securitization Net Proceeds Percentage: determined solely by Lender according to the following formula: The aggregate of [(Total Securitized Pool less any Securitization Reductions) divided by Total Securitized Pool] minus [75 basis points (.75%)], with the resulting number rounded to the nearest 1/100th of a percent.

• The Net Proceeds Percentage of each parcel of real property assuming that the Outzen Sale is consummated is set forth on Exhibit A to this Disclosure Statement.

• UWH shall be entitled to receive an amount equal to the Net Proceeds Percentage of all Net Proceeds, payable out of all Gross Monetization Proceeds received or entitled to be received by or transferred, paid or inuring to QPRC and any Patent Owner (or for their benefit), from whatever source (“Received Proceeds”).

• Subject to UWH’s obligations pursuant toSection 2(e)(iv) of the Standstill Agreement dated June 12, 2017, Patent Owner hereby irrevocably assigns to UWH the Net Proceeds Percentage in perpetuity.

• In the event that cash Received Proceeds with respect to any Claim distributed to UWH pursuant to the Escrow Agreement are less than the Net Proceeds Percentage of all cash Net Proceeds of that Claim (a “Monetization Shortfall”), QPRC shall within three (3) Business Days after such distribution pay the difference in cash to UWH.

• UWH shall be entitled to receive an amount equal to the Net Proceeds Percentage of all Net Proceeds, payable out of all Net Proceeds received or entitled to be received by or transferred, paid or inuring to Patent Owner, from whatever source (“UWH Proceeds Payments”).

• QPRC and each Patent Owner hereby irrevocably assigns to IPLLC the Net Proceeds Percentage of the Net Proceeds in perpetuity.

• Accordingly, the Net Proceeds will be applied as follows: Intended Use of Net Proceeds Percentage Allocation Enhancement of assets and/or business acquisitions 80% Working capital 20% In the opinion of the Directors, notwithstanding the Irrevocable Undertaking (as defined below), there is no minimum amount that needs to be raised from the Rights Issue taking into consideration the intended use of proceeds.

More Definitions of Net Proceeds Percentage

Net Proceeds Percentage means fifteen percent (15%); provided, however, that upon the first Additional Note Failure (as defined in the Securities Purchase Agreement), the Net Proceeds Percentage will be reduced to seven and one-half percent (7.5%) with respect to any Net Proceeds of Patents identified on Schedule A-2 attached hereto (“A-2 Patents”) that accrue after the date of such first Additional Note Failure; and upon the second Additional Note Failure, the Net Proceeds Percentage will be reduced to zero (0%) with respect to any Net Proceeds of A-2 Patents that accrue after the date of such second Additional Note Failure. No Additional Note Failure will affect the Net Proceeds Percentage with respect to any Net Proceeds of Patents identified on Schedule A-1 attached hereto.

Net Proceeds Percentage has the meaning specified in Schedule 2.4. “Net Proceeds Threshold” has the meaning specified in Schedule 2.4. 26

Net Proceeds Percentage means 50%.