Participation Income for any particular calendar quarter means Purchaser’s consolidated gross revenues received for such quarter as a result of the licensing of any of the Patents minus the Deductible Purchaser Expenses. All calculations of “Participation Income” shall be made in accordance with U.S. generally accepted accounting principles as in effect from time to time.
Participation Income shall have the meaning as defined in Section 7.3.1
Participation Income pursuant to this Section includes all payments payable to Felicitex by such Sublicensee or Third Party Partner in connection with the rights granted or assigned by Felicitex to such Sublicensee or Third Party Partner to Research, Develop, Manufacture and Commercialize the Optioned Compounds or Products, including: (a) all upfront payments, (b) all milestone payments, (c) all royalties (or other recurrent payments calculated on the basis of sales income), (d) all purchase prices and (e) all other revenues, receipts, monies and the fair market value of other consideration directly or indirectly payable to Felicitex, whether by way of cash or credit or any benefit, advantage or concession. Participation Income does not include or apply for (u) non-US taxes which are deducted or paid, but only to the extent that Felicitex is not entitled to a refund of such taxes or duties, (v) sales, use, and/or value added taxes; (w) refunds or rebates; (x) payments for Research, Development and/or Manufacturing services of Felicitex acting as a subcontractor or service provider (to the extent that the compensation is for fair market value); (y) consideration received for the purchase of an equity interest in Felicitex (to the extent that the compensation is for fair market value) and (z) reimbursement of patent costs of Felicitex. If Optioned Compounds or Products are out-licensed or sold together with other compounds or products in the same transaction, then the Participation Income calculations will be determined per Optioned Compound or Product at each component’s fair market value. An exemplary calculation of the participation payment to Selvita is attached hereto as Exhibit H.
Examples of Participation Income in a sentence
The Participation Income package would reduce these reductions further (one-third and three-fifths respectively.) According to these estimates, direct redistribution can be a major element in a broader strategy aimed at tackling inequality.
If and to the extent that Felicitex undertakes Development and Commercialization of Optioned Compounds or Products through External Development, Felicitex shall pay to Selvita a participation payment on Participation Income in an amount equal to Selvita’s Initial Value Share or, if applicable, Decreased Value Share or, if applicable, Adjusted Value Share in such Participation Income.
So-called Participation Income schemes that pay people for “participating” in civil society (voting, serving on juries, and such) do not solve the inherent problems with UBI while adding substantial administrative costs (Wispelaere & Stirton, 2007).
Atkinson, A.B. (1996), 'The Case for a Participation Income', The Political Quarterly, 89.
A Participation Income would recognise other meaningful contributions such as care or voluntary work, and other forms of work thatcontribute to the common good.
More Definitions of Participation Income
Participation Income for any particular calendar quarter means the Profits of Parent and its Affiliates (as reported and in accordance with US GAAP) received for each calendar quarter minus Deductible Purchaser Expenses.
Participation Income for any particular calendar quarter means Purchaser's consolidated gross revenues received for such quarter as a result of the licensing of any of the Patents minus the Deductible Purchaser Expenses. All calculations of "Partcipation Income" shall be made in accordance with U.S. generally accepted accounting principles as in effect from time to time. __________________________________________________________________________________________ _________________________________________________________________________________________ ________________________________________________________________________________________ ______________________________________________________________________________________ _________________________________________________________________________________________ _______________________________________
Participation Income for any particular Calendar Month means Madison’s gross fees received for such Calendar Month as a result of BTC lending solely attributable to BTC delivered by or on behalf of the Company minus the Deductible Expenses. All calculations of “Participation Income” shall be made in accordance with U.S. generally accepted accounting principles as in effect from time to time.
Participation Income for any particular calendar quarter means Purchaser's consolidated gross revenues received for such quarter as a result of the licensing of any of the Patents minus the Deductible Purchaser Expenses. All calculations of "Partcipation Income" shall be made in accordance with U.S. generally accepted accounting principles as in effect from time to time. __________________________________________________________________________________________ _________________________________________________________________________________________ ________________________________________________________________________________________ ______________________________________________________________________________________ _________________________________________________________________________________________ _______________________________________ "Patents" means (a) all patents and patent applications listed in Exhibit B hereto; (b) all patents related to the patents and patent applications listed in Exhibit B via a terminal disclaimer; and (c) the inventions, discoveries and improvements described or claimed in any or all of the foregoing. "Purchaser's Initial Return" means the ____________ paid to Seller (including any amounts paid to defend any Inter Partes Review or similar proceeding as set forth in Section 2.4(c)) as set forth in Section 2.4 ____________ of such Fixed Consideration Amount. "Person" means a person, corporation, partnership, limited liability company, joint venture, trust or other entity or organization. "Trading Day" means a day on which the Common Stock is traded on a Trading Market. "Trading Market" means whichever of the New York Stock Exchange, the American Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market, OTC Bulletin Board or the OTC Markets, (or any successors to any of the foregoing), on which the Common Stock is listed or quoted for trading on the date in question. "Rider" shall have the meaning ascribed to it in Section 2.4(b). 2. TRANSFER 2.1
Participation Income for any particular calendar quarter means Purchaser’s consolidated gross revenues received for such quarter as a result of the licensing of any of the Patents minus the Deductible Purchaser Expenses. All calculations of “Participation Income” shall be made in accordance with U.S. generally accepted accounting principles as in effect from time to time. “Participation Percentage” for any particular calendar quarter means (i) zero percent if the Cumulative Participation Income is less than or equal to the Purchaser’s Initial Return, (ii) thirty percent (30%) if the Cumulative Participation Income is greater than Purchaser’s Initial Return but less than or equal to $50 million, (iii) forty percent (40%) if the Cumulative Participation Income is greater than $50 million but less than or equal to $100 million, (iv) fifty percent (50%) if the Cumulative Participation Income is greater than $100 million but less than or equal to $500 million, (v) sixty percent (60%) if the Cumulative Participation Income is greater than $500 million but less than or equal to $1 billion, and (vi) seventy percent (70%) if the Cumulative Participation Income is greater than $1 billion. In calculating the Participation Income for a quarter, if the above noted Cumulative Participation Threshold is passed during a quarter, the then-current Participation Percentage shall apply to Cumulative Participation Income up to the point such threshold is achieved and the higher Participation Percentage shall apply to amounts of Cumulative Participation Income exceeding such threshold during such quarter “Patents” means (a) all patents and patent applications listed in Exhibit B hereto; (b) all patents related to the patents and patent applications listed in Exhibit B via a terminal disclaimer; and (c) the inventions, discoveries and improvements described or claimed in any or all of the foregoing. “Purchaser’s Initial Return” means the Fixed Consideration Amount paid to Seller (including any amounts paid to defend any Inter Partes Review or similar proceeding as set forth in Section 2.4(c)) as set forth in Section 2.4 plus one hundred percent (100%) of such Fixed Consideration Amount. “Person” means a person, corporation, partnership, limited liability company, joint venture, trust or other entity or organization. “Trading Day” means a day on which the Common Stock is traded on a Trading Market. “Trading Market” means whichever of the New York Stock Exchange, the American Stock Exchange, the NASDA...
Participation Income for any particular calendar quarter means [*] minus the [*]. All calculations of “Participation Income” shall be made in accordance with U.S. generally accepted accounting principles as in effect from time to time.
Participation Income for any particular calendar quarter means Purchaser’s consolidated gross revenues received for such quarter as a result of the licensing of, sale of, or the settlement of or judgment associated with any litigation involving any of the Patents minus the Deductible Purchaser Expenses (based upon an annual budget to be agreed by the Parties, within 90 days of date hereof for 2014 and annually thereafter on or prior to December 31 of each ensuing year until the termination of all litigation involving the Patents or the expiration thereof, whichever is later). All calculations of “Participation Income” shall be made in accordance with U.S. generally accepted accounting principles as in effect from time to time.