Unexpectedly Low Sales definition

Unexpectedly Low Sales means sales in three consecutive quarters of a number of Products less than [*] of the number forecast under Section 2.4.
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Unexpectedly Low Sales means sales in each of three consecutive quarters of a number of Products that result in an Earned Royalty less than [ * ] of the Minimum Royalty for each such quarter.
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Examples of Unexpectedly Low Sales in a sentence

  • C▇▇▇’▇ obligation to pay Minimum Royalties under this Agreement will resume in the first full calendar year after the cessation of the Interim Period, which occurs at the end of the first quarter in which there are no longer Unexpectedly Low Sales.

  • In the event that Product meets the relevant specifications, but C▇▇▇ has experienced Unexpectedly Low Sales of Product not by reason of any substantial lack of diligence by C▇▇▇ in commercializing Products in accordance with Section 2.4, C▇▇▇ shall pay only a portion of the Minimum Royalty (“Interim Period Payment”) for a time period (“Interim Period”) beginning upon the last day of those [ * ] consecutive calendar quarters of Unexpectedly Low Sales.

  • In the event that Product meets the relevant specifications, but C▇▇▇ has experienced Unexpectedly Low Sales of Product in [*] consecutive calendar quarters not by reason of any substantial lack of diligence by C▇▇▇ in [*] = CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION.

Related to Unexpectedly Low Sales

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Ultimate Net Loss as used herein is defined as the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as hereinafter defined) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • Net Income or Net Loss means, for each Fiscal Year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period, as determined for federal income tax purposes, determined by the Accountants in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), with the following adjustments:

  • Nonrecourse Built-in Gain means with respect to any Contributed Properties or Adjusted Properties that are subject to a mortgage or pledge securing a Nonrecourse Liability, the amount of any taxable gain that would be allocated to the Partners pursuant to Section 6.2(b) if such properties were disposed of in a taxable transaction in full satisfaction of such liabilities and for no other consideration.

  • Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments: