Net Retail Sales definition
Net Retail Sales means, with respect to sales of a Dermal Tissue Augmentation Product in a country in the Territory, the aggregate gross price invoiced for retail sales of such product during a period in such country to unaffiliated third-party purchasers [ *** .] It is Biomatrix's understanding that the foregoing definition is consistent with how the Distributor reports its sales in its audited financial statements. ***Confidential portions have been omitted and filed separately with the Securities and Exchange Commission.
Net Retail Sales means the aggregate amount of all revenue generated through the sale of Products by QVC and its subsidiaries during the applicable term excluding freight, shipping and handling charges, customer returns, and sales, use and other taxes.
Net Retail Sales means the gross invoice amount billed with respect to Licensed Products by NABI to its customers, exclusive of NABI’s sublicensees, and by NABI’s sublicensees to their customers, in each case less the following items:
Examples of Net Retail Sales in a sentence
For purposes of calculating the Agency Contribution in any Contract Year, the total amount to be paid by Licensee shall be based on the higher of (i) Licensee’s projected Net Wholesale Sales plus Net Retail Sales as set forth in the Business Plan for the upcoming Contract Year or (ii) actual Net Wholesale Sales plus Net Retail Sales in the previous Contract Year.
In consideration of the license granted herein, Licensee shall pay to Licensor a percentage royalty (the “Percentage Royalty”) in each Contract Year of * percent (*%) of Net Wholesale Sales, plus (i) * (*%) of Licensee’s Net Retail Sales during the first ten Contract Years of the Term, and (ii) * (*%) of Licensee’s Net Retail Sales thereafter.
In each Contract Year during the Term Licensee shall expend not less than * percent (*%) of total Net Wholesale Sales, plus * percent (*%) of Net Retail Sales for advertising and promotional activities in the Territory (the “Advertising Obligation”).
Net Retail Sales derived from Products ordered pursuant to such right to cure shall not be counted toward the Minimum Amount applicable to the next succeeding Renewal Term.
By way of example, if Distributor's Net Retail Sales of all Dermal Tissue Augmentation Products in the Territory in a given Agreement Year were $10,000, and Distributor's Net Retail Sales of the Agreement Product in the Territory in such Agreement Year were $500, then Distributor could cure such shortfall and prevent termination by paying Biomatrix $62.50.
More Definitions of Net Retail Sales
Net Retail Sales means the amount of valid net purchase transactions posted to Accounts, but shall not include the aggregate amount of: (a) all refunds to Accounts, such as credit for returned merchandise or disputed billing items; (b) those amounts representing annual fees, finance charges, and other bank fees or charges posted to Accounts (such fees include, but are not limited to, late fees, return check fees, over limit fees, credit insurance premiums, cash advance fees, balance consolidation fees, collection costs and administrative fees); and (c) the amount of all cash advance transactions and/or cash advance transaction fees (which include balance transfers and the use of special checks).
Net Retail Sales means the aggregate amount of all revenue generated through the sale of Products or Co-Branded Products, respectively, by QVC and its subsidiaries during the License Period Year, excluding freight, shipping and handling charges, customer returns, and sales, use or other taxes. For further clarification, and subject only to the provisions of paragraphs 2(g) and 2(i), QVC shall have no obligation to pay Company any royalties or other compensation hereunder for Products and Co-Branded Products which are returned, or sought by QVC to be returned, to Manufacturers and/or Vendors, as the case may be, by QVC. In addition, notwithstanding anything herein to the contrary, QVC shall have no obligation to pay any royalties hereunder or other compensation to Company for Products and/or Co-Branded Products sold by QVC at or below QVC’s Landed Cost (as defined below) for those Products and/or Co-Branded Products. “Landed Cost”, as used herein, shall mean the cost price of the Products or Co-Branded Products, respectively, as set forth on the applicable Purchase Orders or Vendor Purchase Orders, as the case may be, for such Products or Co-Branded Products, respectively, together with any and all other costs incurred by QVC for freight, custom duties and miscellaneous expenses with respect to the import of the subject Products or Co-Branded Products, respectively, into the continental United States of America from any foreign country or port.
Net Retail Sales means the actual retail price of the Products sold by Licensee directly to consumers in the Territory, less (a) refunds, credits and allowances actually made or allowed to customers for returned defective Products, and (b) value added tax assessed on sales (only where applicable); “Net Wholesale Sales” means the actual invoice price of the Products sold through all other Distribution Channels permitted under this Agreement, whether from cash, check, credit and/or debit card, barter exchange, trade credit or other credit transactions less (a) refunds, credits and allowances actually made or allowed to customers for returned defective Products, and (b) value added tax assessed on sales (only where applicable); “Net Sales” means both Net Retail Sales and Net Wholesale Sales, collectively. For the avoidance of doubt, no other deduction or recoupments of any kind shall be deducted from the gross retail or wholesale invoice price (as applicable), including by way of example, cash discounts, early payment discounts, year-end rebates, costs incurred in manufacturing, selling, distributing, advertising (including cooperative and promotional allowances, fixturing, merchandising guides, displays and/or the like), uncollectible accounts, commissions, rush-transportation costs on otherwise late deliveries, make-good costs for defective product, design errors or lost or damaged product. Products will be considered “sold” and, therefore, subject to inclusion in the calculation of Earned Royalties, as of the date on which such Products are invoiced, shipped or paid for, whichever first occurs. For the avoidance of doubt, there will be no deduction from “Net Sales” for uncollectable accounts. Under no circumstances may any bad debt or uncollected amounts or uncollectible accounts be deducted when computing Net Sales.
Net Retail Sales means the gross invoice amount billed with respect to Licensed Products by NABI to its customers, exclusive of NABI’s sublicensees, and by NABI’s sublicensees to their customers, in each case less the following items: taxes; shipping charges; and credits for pricing adjustments, any bona fide returns (net of all returns actually made), charge backs, rebates and discounts; provided, however, that NABI shall not (directly or indirectly) allow the Licensed Product to be sold (or offered for sale) in combination with other products resulting in a disproportionate credit, discount or rebate to be applied to the Licensed Product.
Net Retail Sales. All sales of food, beverages, goods, merchandise and services as defined in Retail Sales excluding sales taxes.
Net Retail Sales shall be defined as: [***]; and
Net Retail Sales means the aggregate amount of individual purchases posted to an Account, but shall not include the aggregate amount of (i) all refunds to such Account, such as credits for returned merchandise or disputed billing items, (ii) those amounts representing annual fees, finance charges and other bank fees or charges posted to such Account (such fees to include, but not be limited to, late fees, return check fees, overlimit fees, credit insurance premiums, cash advance fees, collection costs and administrative fees); and (iii) the amount of all cash advance transactions fees. The Sales Royalties shall also exclude any Net Retail Sales posted to an Account whose card(s) have been reported lost or stolen and which have not been subsequently replaced or reissued by FUSA.