Royalty Reserve definition

Royalty Reserve means an amount equal to all accrued Royalties that are then unpaid, whether or not then due and payable by any Borrowing Base Party.

Royalty Reserve means, as of any date of determination, the aggregate of (a) all past due royalty payments owing by a Loan Party as of such date of determination, plus (b) an amount equal to projected royalty payments anticipated to be owing by the Loan Parties in the three months following such date of determination.

Royalty Reserve means, at any time, a reserve equal to the sum of (a) accrued but unpaid royalties due to third parties for the sale of any Inventory subject to any license of intellectual property plus (b) unpaid royalties due to third parties for finished goods Inventory on hand subject to any license of intellectual property.

Examples of Royalty Reserve in a sentence

• The proceeds of $210,700 received in relation to the Royalty Units has been recorded as a Royalty Reserve within Equity.

• Any balance remaining in the Royalty Reserve Annual Account for any Royalty Calculation Year after the Royalty Payment for such Royalty Calculation Year has been paid in full may be removed from the Royalty Reserve Account and applied as WSI determines to be appropriate, provided that, until the Term has ended, such application is in full compliance with all of the applicable terms and conditions of this Agreement (including, without limitation, Section 4.03 hereof).

• The Royalty Reserve Account and the Royalty Reserve Annual Account each constitute “Deposit Accounts” within the meaning of the Uniform Commercial Code as may be in effect in New York from time to time (the “Code”).

• Except to the extent Stonehouse may otherwise agree, funds in the Royalty Reserve Annual Account may only be invested in Permitted Investments.

• Each Deposit Account is subject to the “control” (as set forth in the Code) of Stonehouse for the Term, as such “control” has been agreed to by the WorldSpace Parties, Stonehouse, and the bank with which the Royalty Reserve Account and the Royalty Reserve Annual Account are maintained, in an authenticated record in the form attached hereto as Exhibit A.

More Definitions of Royalty Reserve

Royalty Reserve means an amount equal to all accrued and unpaid royalty obligations owing by Borrower and MCE as set forth on the most recent Royalty Reserve Report, adjusted up or down as of any date of determination by Lender in its sole discretion based on Lender’s findings that such royalty obligations owing by Borrower and/or MCE have increased or decreased since the date of such Royalty Reserve Report.

Royalty Reserve means, on any date, an amount equal to the sum of: (i) all Royalties that are more than 60 days past due and payable by the Borrower on such date, and (ii) all Royalties that would be payable upon the sale or other disposition of Eligible Inventory, assuming (for purposes of calculating the amount of such reserve) that such Eligible Inventory would be sold at its Value.

Royalty Reserve means, at any date of determination, an amount equal to the accrued and unpaid monthly production royalty expense due under royalty agreements with any Person, or, if there is no separate royalty agreement, under any lease or other applicable agreements with such Person.

Royalty Reserve means a reserve established by the Administrative Agent from time to time in its Credit Judgment for the amount of all the Loan Parties’ accrued and unpaid royalties owing to the owners of quarry, mine or pit sites leased or operated by the Loan Parties.

Royalty Reserve means, in respect of Inventory or Accounts arising from products using, or marketed or promoted using, the Xxxxxxxxx Xxxxxx xxxx and subject to the trademark license agreement dated June 2, 2018 between Zander Fields Inc. or Zander Fields LLC and Herban Industries Inc., a reserve in the amount of 15% of the gross price charged (or usually charged) to buyers of such products.

Royalty Reserve means any reserve that the Agent may from time to time establish (in its sole discretion after the occurrence of a Default or an Event of Default) for Inventory subject to license agreements with third parties, in an amount determined by the Agent to be sufficient to make any required royalty payments owing by Borrower with respect to such Inventory.

Royalty Reserve means an amount equal to all accrued Royalties that are then unpaid, whether or not then due and payable byany Borrower.