Recognized Revenue definition
Examples of Recognized Revenue in a sentence
The remittance of applicable portion of Recognized Revenue shall be made by Licensee within 30 days after the end of the calendar quarter in which such Recognized Revenue is achieved.
Thirty-three percent (33%) of the total Awarded Shares shall vest on the first date after the Grant Date that the Company’s Recognized Revenue (as defined below) equals $50 million, provided the Grantee is employed by (or, if the Grantee is a consultant or an outside director, is providing services to) the Company or a Subsidiary on that date.
The Shareholders acknowledge and agree that the Chief Financial Officer of Parent (the "Parent CFO") shall determine the Recognized Revenue for each respective Year Period (as determined in accordance with generally accepted accounting principles).
Promptly, but in no event later than forty five (45) business days after each quarterly period, the Parent CFO shall provide to the Shareholders a statement which shall disclose the Recognized Revenue and Margins for the preceding quarterly period (a “Quarterly End Statement”).
The remaining thirty-three percent (33%) of the total Awarded Shares shall vest on the first date after the Grant Date that the Company’s Recognized Revenue equals $150 million, provided the Grantee is employed by (or, if the Grantee is a consultant or an outside director, is providing services to) the Company or a Subsidiary on that date.