Royalty Reduction Payment definition

Royalty Reduction Payment has the meaning provided in Section 2.4;
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Royalty Reduction Payment means $22,000,000, provided that if the Recipient does not pay the Additional Purchase Price ( as defined in the Royalty Purchase Agreement) as a result of failure by the Vendors ( as defined in the Royalty Purchase Agreement) to meet the conditions set out in section 2.1.3 of the Royalty Purchase Agreement or otherwise when it is due and payable thereunder, such amount will, from that time going forward without any retroactive effect, mean $16,500,000;"
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Royalty Reduction Payment means $20,000,000, provided that if the Recipient does not pay the Additional Purchase Price (as defined in the Royalty Purchase Agreement) as a result of failure by the Vendors ( as defined in the Royalty Purchase Agreement) to meet the conditions set out in section 2.1.3 of the Royalty Purchase Agreement or otherwise when it is due and payable thereunder, such amount will, from that time going forward without any retroactive effect, mean $11,000,000;
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Examples of Royalty Reduction Payment in a sentence

  • The Royalty Reduction Payment is in addition to any other amounts due from the Payor to the Recipient.

  • To exercise the Repurchase Option the Payor shall provide Notice to the Recipient and pay the Royalty Reduction Payment.

  • Upon receipt of the Royalty Reduction Payment and on the day that is 45 days after the date the Notice of exercise was delivered to the Recipient, the Repurchase Option shall be deemed to have been exercised.

  • At the Royalty Reduction Closing, the following shall occur: (i) TRC shall deliver to Owner a cashiers’ check or certified funds in the amount of the Royalty Reduction Payment (split to the Owner as provided above), and (ii) Owner shall deliver to TRC a duly executed conveyance substantially in the form attached hereto as Exhibit D of one percent (1.0%) of the Royalty payable on the production of Minerals from the Property.

  • InterMune will make the Royalty Reduction Payment on or before the last business day of the applicable Calendar Quarter.

  • The Payor shall have the option (the "Repurchase Option") to repurchase half of the 3% Royalty (resulting in a 1.5% remaining Royalty) for US$12,000,000 (the "Royalty Reduction Payment").

  • For greater certainty, any royalty payments paid at the rate of 8% or 3.5%, as applicable, shall not be deductible from the Royalty Reduction Payment in Subsection 2.5(1) above.

  • Upon receipt of the Royalty Reduction Notice, InterMune will arrange to pay the Royalty Reduction Payment to Lilly by [*] designated or approved by Lilly.

  • Upon Lilly's receipt of the Royalty Reduction Payment, the royalty percentages described above will be reduced as described herein automatically with no further notice or action required on any party's part.


More Definitions of Royalty Reduction Payment

Royalty Reduction Payment has the meaning set out in Section 4.2(b). “Rules” has the meaning set out in Section 11.2(e).
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Related to Royalty Reduction Payment

  • 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.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

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

  • Termination Payment has the meaning set forth in Section 6.03.

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

  • Deferred Sales Charge Payment Date means October 10, 2013 and the tenth day of each month thereafter through February 10, 2014.

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

  • Termination Payments has the meaning specified in Section 10(a).

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Principal Relocation Payment A payment from any Loan Group to REMIC 1 Regular Interests other than those of their corresponding Loan Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Amount from a Loan Group.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Event Payments has the meaning set forth in Section 6.1(d).

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Production Payments means, collectively, Dollar-Denominated Production Payments and Volumetric Production Payments.

  • Aggregate Payments means, with respect to a Contributing Guarantor as of any date of determination, an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus (2) the aggregate amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this Section 7.2 shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 7.2.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Gross-Up Payment shall have the meaning set forth in Section 6.2 hereof.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Delta Payment means as it is described in this Agreement.

  • Option Payment shall have the meaning set forth in Section 3.4.