Service Income definition
Service Income means the gross amount invoiced by or on behalf of an Invoicing Entity (as defined in Section 1.14) for the performance of Licensed Services; provided that:
1.21.1 in any performance of Licensed Services by an Invoicing Entity for its Affiliate, Service Income shall be equal to the fair market value of the Licensed Services performed, assuming an arm’s length transaction made in the ordinary course of business; and
1.21.2 in the event that an Invoicing Entity received non-case consideration for any Licensed Services or in the case of transactions not at arm’s length with a non-Affiliate of Invoicing Entity, Service Income shall be calculated based on the fair market value of such consideration or transaction, assuming an arm’s length transaction made in the ordinary course of business.
Service Income means Net Sales with respect to Licensed Services. Service Income shall not include Attributed Income.
Service Income means all amounts and other consideration received by Predix, or an Affiliate of Predix, for or in connection with the performance of Services; provided that in the event that Predix or an Affiliate of Predix receives non-monetary consideration in connection with any such services or in the case of transactions not at arm's length, Service Income shall be calculated based on the fair market value of such consideration or transaction, assuming an arm's length transaction made in the ordinary course of business.
Examples of Service Income in a sentence
Licensee shall pay Harvard all amounts due with respect to Net Sales, Service Income, and Non- Royalty Sublicense Income for the applicable Calendar Quarter.
If, at any time after such deduction Licensee does collect any of such amounts, such collected amounts shall be included as Net Sales or Service Income in the Calendar Quarter in which they are collected and Licensee shall pay Harvard royalties thereon accordingly.
In addition to the reports under Section 4.5.1, commencing with the receipt of the first Sublicense Income or Service Income, Predix shall provide Ramot with quarterly reports setting forth all Sublicense Income and Service Income received by Predix and its Affiliates.
Each Assignor hereby grants, assigns, transfers, conveys and delivers to Assignee, all of the Assignor's right, title and interest in and to (i) all of such Assignor's Service Income Rights and (ii) the Units.
Predix shall not be required to pay Ramot any amount on the first [********] in cumulative Service Income.
More Definitions of Service Income
Service Income means the total of […***…].
Service Income. , means income from the services related to the operation of the Hotels, excluding Accommodation Income and Lease Income.
Service Income means (i) the gross amount billed by COMPANY and its AFFILIATES and SUBLICENSEES for LICENSED SERVICES, including without limitation the performance of LICENSED PROCESSES, and/or (ii) any payments received by COMPANY and its AFFILIATES and SUBLICENSEES, including without limitation upfront or periodic fees, milestone payments and other payments, in consideration of the provision of LICENSED SERVICES. No deductions shall be made for commissions paid to individuals whether they be with independent sales agencies or regularly employed by COMPANY and on its payroll, or for cost of collections. For the purposes of clause (i), SERVICE INCOME shall occur on the earlier of the date COMPANY receives payment or 60 days after the date of billing for LICENSED SERVICES. If LICENSED SERVICES are performed or provided at a discounted price that is substantially lower than the customary price charged by COMPANY, or distributed for non-cash consideration (whether or not at a discount), SERVICE INCOME shall be calculated based on the non-discounted amount of the LICENSED SERVICES charged to an independent third party during the same REPORTING PERIOD or, in the absence of such sales, on the fair market value of the LICENSED SERVICES. Non-monetary consideration shall not be accepted by COMPANY or its AFFILIATES or SUBLICENSEES for any LICENSED SERVICES without the prior written consent of M.I.T. In the event that non-monetary consideration is received for LICENSED SERVICES, SERVICE INCOME shall be calculated based on the fair market value of such non-monetary consideration (including all elements of such consideration), as determined by the parties in good faith.
Service Income means Net Sales with respect to Licensed Services.
Service Income means (i) the gross amount billed by COMPANY and its AFFILIATES and SUBLICENSEES for LICENSED SERVICES, including without limitation LICENSED PROCESSES, and/or (ii) any payments received by COMPANY, an AFFILIATE or SUBLICENSEE, other than payments received in accordance with clause (i) of this Section, including without limitation upfront or periodic fees, milestone and bonus payments, royalties, profit and/or revenue sharing and other payments, in consideration of the provision of LICENSED SERVICES. For clarification, (a) any payments received by COMPANY or an AFFILIATE or SUBLICENSEE from a CORPORATE PARTNER in consideration of the provision of LICENSED SERVICES to such CORPORATE PARTNER shall be deemed CORPORATE PARTNER INCOME for the purposes of this Agreement, and (b) any payments received by COMPANY or an AFFILIATE from a SUBLICENSEE in consideration of the provision of LICENSED SERVICES to such SUBLICENSEE shall be deemed SERVICE INCOME (and not SUBLICENSEE INCOME) for the purposes of this Agreement. If LICENSED SERVICES are performed or provided at a discounted price that is substantially lower than the customary price charged by COMPANY, or performed or provided for non-cash consideration (whether or not at a discount), SERVICE INCOME shall be calculated on the non-discounted amount of the LICENSED SERVICES or on the fair market value of the LICENSED SERVICES, as appropriate. Non-monetary consideration shall not be accepted by COMPANY, any AFFILIATE, or any SUBLICENSEE for any LICENSED SERVICES without the prior written consent of M.I.T. In the event that non-monetary consideration is received for LICENSED SERVICES, SERVICE INCOME shall be calculated based on the fair market value of such non-monetary consideration (including all elements of such consideration), as determined by the parties in good faith.
Service Income will mean:
(i) the gross amount billed by COMPANY, AFFILIATES, and SUBLICENSEES for the performance of LICENSED PROCESSES, and
(ii) without duplication, any payments received by COMPANY and AFFILIATES , and SUBLICENSEES in consideration of the performance of LICENSED PROCESSES including without limitation upfront or periodic fees, milestone payments, and other payments. For the purpose of Section 1.17 (i), billing will occur on the earlier of the receipt of payment or [**] days after the date of billing. If LICENSED PROCESSES are performed or provided at a discounted price that is substantially lower than the customary price charged by COMPANY, or distributed for non-cash consideration (whether or not at a discount), SERVICE INCOME will be calculated based on the non-discounted amount charged to an independent third party during the same REPORTING PERIOD or, in the absence of such sales, on the fair market value for the performance of LICENSED PROCESSES. No deductions will be made for commissions paid to individuals whether they are with independent sales agencies or regularly employed by COMPANY, AFFILIATES, or SUBLICENSEES and on its payroll, or for cost of collections. Non-monetary consideration will not be accepted by COMPANY, any AFFILIATE, or any SUBLICENSEE for the commercial performance of any LICENSED PROCESS without the prior written consent of ▇▇▇▇▇▇▇▇▇.
Service Income means the total financial consideration received by Licensee as a result of a Service; provided, however, that Service Income shall not include payments received by Licensee from purchasers of Licensed Products that[, on a case-by-case basis,] the parties mutually agree represent reasonable consideration for routine maintenance or repairs to Licensed Products provided by Licensee through a separate maintenance agreement between Licensee and such a purchaser. “Territory” shall mean the World. “Third Party” shall mean any entity other than LightLab and Licensee and their respective Affiliates. “Valid Claim” shall mean either (i) a claim of an issued and unexpired patent included within the Patent Rights that has not been held permanently revoked, unenforceable, or invalid by a decision of an agency or a court of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, and which has not been admitted to be invalid or unenforceable through reissue or disclaimer or otherwise; or (ii) a claim of a pending patent application included within the Patent Rights that was filed with a good faith belief in its patentability and that has not been abandoned or finally rejected without the possibility of appeal or refiling and that has been pending for less than ten (10) years from its priority date. SECTION 3: REPRESENTATIONS 3.