Packaging Budget definition

Packaging Budget means the monies required to be expended by Syratech in connection with the designing and prototyping of the Licensed Property pursuant to Paragraph 9(i) in the amount of up to Twenty Five Thousand Dollars ($25,000).
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Examples of Packaging Budget in a sentence

  • If the Packaging Budget is spent in Year One, Syratech may deduct the Packaging Budget from the Advertising Commitment to be expended by Syratech in Year One.

  • Notwithstanding the foregoing, if VEW incurs any costs or expenses in connection with designing and packaging for the Licensed Property, Syratech shall reimburse VEW for such actual costs and expenses and may use the Packaging Budget for such reimbursement.

  • All expenditures of the Packaging Budget shall be subject to the mutual approval of the Parties, provided that, in the event the Parties disagree, (i) VEW’s decision shall control with respect to all creative aspects of packaging for the Licensed Property and (ii) Syratech’s decision shall control with respect to the financial and other non-creative aspects of such packaging.

  • Syratech shall spend the Packaging Budget during Year One or, solely if mutually agreed to by the Parties, in Year Two.

  • If the Packaging Budget is spent in Year Two, Syratech may not deduct the Packaging Budget from the Advertising Commitment to be expended by Syratech in Year Two.