Net Revenue definition
Examples of Net Revenue in a sentence
Any amounts recovered in connection with or as a result of any action contemplated by Sections 13.2.2 and 13.2.3, whether by settlement or judgement, will be used to reimburse the Parties for their reasonable costs and expenses in making such recovery (which amounts will be allocated pro rata if insufficient to cover the totality of such expenses), and any remainder will be treated as Net Revenue and payments will be due in respect of same pursuant to this Agreement.
Within thirty (30) days of the end of each calendar month Cumberland will pay THI an amount equal to fifty percent (50%) of Net Revenue (“THI’s Revenue Share”), less deductions as provided in this Section 9 subject to reconciliation under Section 9.4. Within forty-five (45) days following the end of each calendar quarter, ▇▇▇▇▇▇▇▇▇▇ shall reconcile the monthly reports and true up the calculation of THI’s Revenue Share with any underpayment or credit for any overpayments.
Any consideration (net after expenses associated with the Sublicense including reasonable overhead for taxes and management of the Sublicense) received by Cumberland in connection with an approved Sublicense, transfer, or co-promote shall be deemed Net Revenue for purposes of Section 9.
Throughout the Term, Cumberland will maintain (and will ensure that its Affiliates maintain) complete and accurate books, records and accounts that fairly reflect Net Revenue and Sublicense Sales Royalties, in sufficient detail to confirm the accuracy of any payments required hereunder, which books, records and accounts will be retained for five (5) years after the end of the period to which such books, records and accounts pertain.