Examples of ROYALTY PAYMENT PERIOD in a sentence
If the Royalty Payment is payable for any period that is less than a Royalty Payment Period, the System Sales for such period will be deemed to be 1/28th of the System Sales for the Royalty Payment Period ending at the end of such period, multiplied by the number of days in such period and if any such Royalty Payment Period begins or ends before or after the Term, as if this Agreement had been in effect for the whole of such period.
Within, but no later than, thirty (30)days following the end of each Royalty Payment Period during the Term, Licensee shall submit to Licensor – or make available within the Licensor’s OnLine account - a full and accurate statement of account including but not limited to invoiced quantities, price, permitted discounts, allowances, Net Sales and the Royalties payable.
If in an audit of Licensee's records it is determined that there is a short fall of five percent (5%) or more in Royalties reported for any Royalty Payment Period, Licensee shall upon request from Disney reimburse Disney for the full out-of-pocket costs of the audit, including the costs of employee auditors calculated at U.S. $100 per hour per person for travel time during normal working hours and actual working time.
If the sell-off period is extended by Disney to a date which is not the last day of the Royalty Payment Period, Licensee's statement and Royalties for such sell-off period shall be due twenty-five (25) days after the last day of the sell-off period.
If in any Royalty Payment Period Licensee has not satisfied the Promotion Commitment, Licensee (i) may carry forward such shortfall into the next succeeding Royalty Payment Period (other than in the case of a shortfall in the final Royalty Payment Period hereunder, in which case no carry forwards shall be permitted), or (ii) shall pay Disney the amount of such shortfall as liquidated damages; provided, however, no shortfall (or fraction thereof) may be carried forward more than twelve months.