Net Wholesale Sales definition
Examples of Net Wholesale 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”).
The Expert's determination of the Exit Payment shall be final and binding, provided that if Burberry exercises its option to terminate on 31 December 2011 in accordance with this Agreement, Burberry shall pay, in respect of the Exit Payment, either the market value of the Licence Rights as determined by the Expert or 70% of the Actual Net Wholesale Sales in 2010, whichever is greater.
The parties shall in good faith endeavour to resolve the objections and in the event that no resolution is reached, the Licensee shall implement Burberry's revisions to the Packaging and the parties shall agree an appropriate reduction to the Minimum Net Wholesale Sales.