Royalty Deduction definition

Royalty Deduction means a deduction from royalty or tax otherwise payable by the Project Proponent under the Act;
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Royalty Deduction has the meaning given to such term in the VEP LLC Operating Agreement.
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Examples of Royalty Deduction in a sentence

  • The Project Proponent must provide the following materials in both electronic and hard copy formats to the Administrator when applying for release of an approved Royalty Deduction upon completion of a project.

  • The Parties agree that the Project Proponent will not be entitled to any Royalty Deduction in respect of the Project if the Project Proponent commences construction prior to the Closing Time.

  • The Producer Project Proponent is not eligible to make an application for Royalty Deduction under this Agreement if the Producer Project Proponent is in arrears in making any royalty payments or any other payment under this Agreement or the Act to the Administrator or the Province of British Columbia.

  • The Parties agree that the Project Proponent will not be entitled to any Royalty Deduction in respect of the Project if the Project Proponent commences Construction prior to the Closing Time.

  • The Project Proponent is not eligible to make an application for Royalty Deduction under this Agreement if the Project Proponent is in arrears in making any royalty payments or any other payment under this Agreement or the Act to the Administrator or the Province of British Columbia.

  • After the Administrator has allowed a Royalty Deduction, the Royalty Administrator will promptly notify the Project Proponents and the British Columbia Ministry of Finance of the amount of the Project Proponents’ allowable Royalty Deduction.

  • If the Administrator determines that a Royalty Deduction allowed pursuant to this Agreement was greater than the amount to which the Project Proponent is entitled, the Administrator may demand from the Project Proponent, an amount equal to the difference between the amount allowed and the amount to which the Project Proponent is not entitled.

  • After the Administrator has allowed a Royalty Deduction, the Royalty Administrator will promptly notify the Project Proponent and the British Columbia Ministry of Finance of the amount of the Project Proponent’s allowable Royalty Deduction.

  • Other than Royalties for Content that is improperly credited to Producer or any cancellations under (b), if Xxxxx has not notified Producer of any Royalty Deduction within 1 year after it has been incurred, Xxxxx waives the right to recoup it.

  • To the Knowledge of Seller, no event or condition exists that would permit the Licensee to claim any Royalty Deduction against payment of the Relevant Royalty Payments to Seller other than Royalty Deductions pursuant to Section 6.5.1(e) of the License Agreement in respect of the Relevant Products (or the Net Sales thereof).

Related to Royalty Deduction

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Gross Profits means the gross profits calculated under section 4;

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Royalty Fee “Royalty Fee” means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Net Sales means [***].

  • Net Sales Price means the gross sales price to retailers of all Licensed Products sold under this Agreement or, with respect to Licensed Products that are not sold directly or indirectly to retailers, other ultimate consumers (as in the case of accommodation sales by Licensee to its employees or sales by Licensee in its own shops), less trade discounts, merchandise returns, sales tax (if separately identified and charged) and markdowns and/or chargebacks which, in accordance with generally accepted accounting principles, would normally be treated as deductions from gross sales, and which, in any event, do not include any chargebacks or the like for advertising, fixture or retail shop costs or contributions. Notwithstanding the foregoing, Licensor hereby waives its right to (i) receive royalties hereunder for, or (ii) include within the calculation of Net Sales Price for the purpose of calculating the Annual Advertising Obligation as set forth in paragraph 4.6 hereof, sales of units of Licensed Products sold at a discount of [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] or more off the regular wholesale price ("Discounted Units"), provided that such waiver shall only apply to the extent that the aggregate Net Sales Price of Discounted Units for any year does not exceed [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] of the Net Sales Price of all units of Licensed Products other than Discounted Units sold in such year. No other deductions shall be taken. Any merchandise returns shall be credited in the quarter in which the returns are actually made. For purposes of this Agreement, affiliates of Licensee shall mean all persons and business entities, whether corporations, partnerships, joint ventures or otherwise, which now or hereafter control, or are owned or controlled, directly or indirectly by Licensee, or are under common control with Licensee. It is the intention of the parties that royalties will be based on the bona fide wholesale prices at which Licensee sells Licensed Products to independent retailers in arms' length transactions. In the event Licensee shall sell Licensed Products to its affiliates, royalties shall be calculated on the basis of such a bona fide wholesale price irrespective of Licensee's internal accounting treatment of such sale unless such products are sold by its affiliates directly to the end-user consumer, in which case royalties shall be calculated on the basis of the price paid by the end-user consumer, less applicable taxes. Licensee shall identify separately in the statements provided to Licensor pursuant to paragraph 7 hereof, all sales to affiliates. At least once annually and no later than 90 days after the close of Licensee's fiscal year, Licensee shall furnish to Licensor a statement of the Net Sales Price of all Licensed Products sold during the year just ended, which shall be certified by the independent auditor for Licensee as correct and in accordance with the terms of this Agreement.

  • Agreed Deductions means any deductions the Agency Worker has agreed can be made from their pay;

  • Minimum Royalty has the meaning set forth in Section 4.4(c).

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Net Revenue Interest means, with respect to any Property, the interest in and to all Hydrocarbons produced, saved, and sold from or allocated to such Property after giving effect to all royalties, overriding royalties, production payments, carried interests, net profits interests, reversionary interests, and other burdens upon, measured by, or payable out or production therefrom.

  • Sales Costs means all costs, direct and indirect, associated with a foreclosure sale by the City, including but not limited to: county recording fees, title reports or other means of identifying persons with interest in the property, title insurance, service and notification, publication and advertising, posting, sale, and staff salaries, including benefits and overhead.

  • Gross Sales Price with respect to each sale of Shares sold pursuant to this Agreement shall be the gross sales price per share of such Shares.

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

  • Sublicensing Revenue means all amounts (including, without limitation, payments received for the purchase of equity in excess of the fair market value of such equity, license fees, milestone and other time or event based payments and royalties on sales of products, but excluding any research funding payments received and actually used for such purpose) received by a Party under an agreement or license attributable to Collaboration Products or from sales of Collaboration Products to end users less any withholding tax or other tax related reductions.

  • Sublicense Revenue means [***].

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Gross Sales means the sum total of all retail sales of tangible personal property or services as

  • Sublicense Income means any payments that Company receives from a Sublicensee in consideration of the sublicense of the rights granted Company under Section 2.1., including without limitation license fees, royalties, milestone payments, and license maintenance fees, but excluding the following payments: (a) payments made in consideration for the issuance of equity or debt securities of Company at fair market value, and (b) payments specifically committed to the development of Licensed Products.

  • Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Allowable Deductions means the following costs, charges, and expenses incurred or accrued by Payor: