Account Royalty Payment Sample Clauses

Account Royalty Payment. Bank will pay University for each eligible Xxxxx Fargo Bank Account linked to the VCU Card for the purpose of ATM/PIN-based debit functionality and owned by an Eligible University Community Member. The number of University Xxxxx Fargo Bank Accounts, for purposes of the Account Royalty computation, will be determined by Bank, based upon the number of eligible Xxxxx Fargo Bank Accounts which have a linked VCU Card. Bank will use discrete product and customer identification and will only pay University for one linked Xxxxx Fargo Bank Account per Eligible University Community Member. To be considered for payment, the Xxxxx Fargo Bank Accounts must be in good standing, funded and owned by an Eligible University Community Member at the time annual computation is computed. Bank will determine computation in conjunction with University provided total enrollment of Eligible University Community Members for the applicable academic school year (e.g., enrolled students). The annual account royalty payment will be based on the number of eligible Xxxxx Fargo Bank Accounts linked to VCU Cards as a percentage of total student enrollments for the academic school year. Eligible checking accounts linked to a VCU Card held by faculty and staff will be included in the numerator of the percentage calculation but not the denominator. Accordingly, faculty and staff are not included in total student enrollment figure. The annual account royalty payment will be calculated based on the following: Weighted Campus Card Program Percentage of Student Enrollment Linked to a Xxxxx Fargo Bank Account Annual Royalty Payment Based on Linked Xxxxx Fargo Bank Accounts Penetration (% min requirement) Annual Royalty Amount 0%-14.9% $100,000.00 15%-24.9% $150,000.00 25%-39.9% $200,000.00 40%-59.9% $250,000.00 60%-79.9% $300,000.00 80%-100% $500,000.00 Payments described in this Section 5 will be deemed paid upon receipt by the University at the following address: Box 843031, 000 X. Xxxxxxxx St., Richmond, VA 23284-3031
Sample 1
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Account Royalty Payment. Bank will pay the University an annual payment of $11,000 during the initial term of the agreement. Royalty Payment Timeframes The upfront royalty payment to University of $25,000 will be made within 30 days of the date the Agreement is executed. Bank will not have the opportunity to increase the number of its checking accounts through promotion of the program until the new card program is launched and Bank can open Affinity Debit Card Bank Accounts. Accordingly, payments will be made as follows: • The first annual royalty payment will be calculated twelve (12) months from the program launch date (first card issuance). • The annual royalty payment will be due to University within 60 days of the anniversary date of the program launch date (first card issuance). The Agreement execution date is October 10, 2011 and the first Campus Affinity Debit Card is expected to be issued in November 2011, so the upfront royalty payment will be paid in December 2011 and the first royalty payment would be made by December 2012.
Sample 1
Account Royalty Payment. Bank will pay University for each eligible checking account linked to the WolfCard for the purpose of ATM/PIN-based debit functionality and owned by an Eligible University Community Member. The number of University WolfCard Bank Accounts, for purposes of the Account Royalty computation, will be determined by Bank, based upon the number of eligible checking accounts which have a linked WolfCard. Bank will use discrete product and customer identification and will only pay University for one linked WolfCard Bank Account per Eligible University Community Member. To be considered for payment, the WolfCard Bank Accounts must be in good standing, funded and owned by an Eligible University Community Member at the time annual computation is computed. Bank will determine computation of the account royalty payment based on the total student enrollment reported by University for the academic school year as of April of each year of the term of this Agreement. The student enrollment component used in calculating the total number of Eligible University Community Members will likewise be based on total student enrollment number for the academic school year as of April of each year of the term of this Agreement. The annual account royalty payment shall be based on the number of eligible checking accounts linked to WolfCards as a percentage of total student enrollment for the academic school year. Eligible checking accounts linked to a WolfCard held by faculty and staff will be included in the numerator of the percentage calculation but not the denominator. Accordingly, faculty and staff are not included in the total student enrollment calculation. The annual account royalty payment will be calculated based on the following: Percentage of Student Enrollment Linked to a checking account Annual Royalty Payment Based on Linked Accounts 0%-9.9% $15,000 10.0% $15,000 15% $23,000 20.0% $30,000 25.0% $38,000 30.0% $45,000 35.0% $55,000 40.0% $65,000 45.0% $75,000 50.0% $85,000 55.0% $95,000 60.0% $108,000 65.0% $120,000 70.0% $133,000 75.0% $145,000 80.0% $158,000 85.0% $170,000 ' 90.0% $183,000 95.0% $195,000 100% $208,000 Payments described in this Section 4 shall be deemed paid upon receipt by the University at the address indicated herein for receipt of notices pursuant to Section 27. Royalty Payment Timeframes The initial payment to University of $55,000 will be within sixty (60) days of the date the Agreement is executed. Accordingly, payment information is expected as follo...
Sample 1
Account Royalty Payment. Bank will pay District for each eligible checking account linked to the RCCD ID CARD for the purpose of the ATM/PIN-based debit functionality and owned by an Eligible District Community Member. The number of District RCCD ID CARD Bank Accounts, for purpose of the Account Royalty computation, will be determined by Bank, based upon the number of eligible checking accounts which have a linked RCCD ID CARD. Bank will use discrete product and customer identification and will only pay District for one linked RCCD ID CARD Bank Account per Eligible District Community Member. To be considered for payment, the RCCD ID CARD Bank Accounts must be in good standing, funded and owned by an Eligible District Community Member at the time annual computation is computed. Bank will determine computation in conjunction with District provided total enrollment of Eligible District Community Members (e.g., enrolled students). The total number of Eligible District Community Members will represent the total student enrollment number for the academic school year as of April of each year of the term. The annual account royalty payment shall be based on the number of eligible checking accounts linked to RCCD ID CARDs as a percentage of total student enrollments for the academic school year. Eligible checking accounts linked to a RCCD ID CARD held by faculty and staff will be included in the numerator of the percentage calculation but not FINAL November 5, 2012 the denominator. Accordingly, faculty and staff are not included in total student enrollment figure. The annual account royalty payment will be calculated based on the following: Penetration of Student Enrollment Linked to a checking account Annual Royalty Payment Based on Linked Accounts 0% - 24.9% $20,000 25% - 29.9% $25,000 30% - 34.9% $30,000 35% - 39.9% $35,000 40% - 44.9% $40,000 45% - 49.9% $45,000 50% - 54.9% $50,000 55% - 59.9% $55,000 60% - 64.9% $60,000 65% - 69.9% $65,000 70% - 74.9% $70,000 75% - 79.9% $75,000 80% - 84.9% $80,000 85% - 89.9% $85,000 90% - 94.9% $90,000 95% - 99.9% $95,000 100% $100,000 Payments described in this Section 4 shall be deemed paid upon receipt by the District at the address indicated herein for receipt of notices pursuant to Section 29. Royalty Payment Timeframes The initial royalty payment to District of $35,000 will be within sixty (60) days of the date the Agreement is executed. Accordingly, payment information is expected as follows: § The account royalty payment will be calculated ...
Sample 1

Related to Account Royalty Payment

  • Royalty Payments (i) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.

  • Contract Quarterly Sales Reports The Contractor shall submit complete Quarterly Sales Reports to the Department’s Contract Manager within 30 calendar days after the close of each State fiscal quarter (the State’s fiscal quarters close on September 30, December 31, March 31, and June 30). Reports must be submitted in MS Excel using the DMS Quarterly Sales Report Format, which can be accessed at xxxxx://xxx.xxx.xxxxxxxxx.xxx/business_operations/ state_purchasing/vendor_resources/quarterly_sales_report_format. Initiation and submission of the most recent version of the Quarterly Sales Report posted on the DMS website is the responsibility of the Contractor without prompting or notification from the Department’s Contract Manager. If no orders are received during the quarter, the Contractor must email the DMS Contract Manager confirming there was no activity.

  • INVOICE PAYMENT 3.1. The CUSTOMER shall pay all valid invoices submitted by the CONTRACTOR in accordance with the provisions of this Schedule in accordance with the provisions of Clause 5 of this Contract.

  • Invoices; Payment The City will accept invoices no more frequently than once per month. Each invoice shall fully detail the related costs and shall specify the status of the particular task or project as of the date of the invoice with regard to the accepted schedule for that task or project. Payment will be made within forty-five (45) days after receipt of an invoice acceptable to the City, in accordance with the Florida Local Government Prompt Payment Act. If, at any time during the contract, the City shall not approve or accept the Contractor's work product, and agreement cannot be reached between the City and the Contractor to resolve the problem to the City's satisfaction, the City shall negotiate with the Contractor on a payment for the work completed and usable to the City.

  • Royalties 1. Royalties arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State.

  • Royalty Reports After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE shall submit to UNIVERSITY quarterly royalty reports on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report shall cover LICENSEE’s (and each Affiliate’s and Sublicensee’s) most recently completed calendar quarter and shall show:

  • Upfront Payment Upon the execution of this Agreement, the Lessee shall pay to the Lessor the following: (check one) ☐ - First Month’s Rent of: _ Dollars ($ _) ☐ - Last Month’s Rent of: ___ _ Dollars ($ _) ☐ - Security Deposit of: _ _ Dollars ($ _)

  • Billing, Payment, Milestones, and Financial Security 6.1 Billing and Payment Procedures and Final Accounting

  • PAYMENT TERMS/PRE-PAYMENT/QUANTITY DISOUNTS If discounts for accelerated payment, pre-payment, progress payment, or quantity discounts are offered, they must be clearly indicated in the Contractor’s submission prior to contract award. The applicability or acceptance of these terms is at the discretion of the Customer.

  • Milestone Payments In the event that any Sellers believe that any Additional Milestone has been achieved during the Post-Closing Milestone Period, the Sellers’ Representative shall provide notice of such achievement to Purchaser. If Purchaser determines in its sole and reasonable discretion that such Additional Milestone has been achieved during the Post-Closing Milestone Period, then within thirty (30) days of such notice from Sellers’ Representative or, if earlier, within thirty (30) days of Purchaser’s determination that such Additional Milestone has been achieved, Purchaser shall notify Sellers’ Representative of its determination and pay to Sellers the Additional Milestone Payment payable in respect of such Additional Milestone. If Sellers’ Representative delivers such a notice and Purchaser determines, in its sole and reasonable discretion, that the applicable Additional Milestone has not been achieved, then, within thirty (30) days of Sellers’ Representative’s notice Purchaser shall notify Sellers’ Representative of such determination. If Sellers’ Representative believes that Sellers are entitled to payment of all or any portion of an Additional Milestone Payment hereunder which they have not received within thirty (30) days following the achievement of the Additional Milestone for which payment is due, Sellers’ Representative may, not later than twelve (12) months following the achievement of such Additional Milestone, deliver to Purchaser a notice setting forth Sellers’ Representative’s determination that all or a portion of such Additional Milestone Payment is due under this Agreement (the “Post-Closing Assessment Notice”). If Sellers’ Representative does not deliver to Purchaser a Post-Closing Assessment *** Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with the Commission. Notice within such twelve (12) month period, then Sellers shall have been deemed to agree that the Additional Milestone has not been met and no payment with respect to such Additional Milestone is due to Sellers hereunder and Sellers shall have no further rights to such Milestone Payment or any portion thereof. Such Post-Closing Assessment Notice may be delivered before or after the expiration of the Post-Closing Milestone Period without affecting Sellers’ rights to the applicable Milestone Payment, provided that that applicable Additional Milestone was actually achieved prior to the expiration of such Post-Closing Milestone Period. If Purchaser shall object to Sellers’ determination that a Additional Milestone has been achieved as set forth in the Post-Closing Assessment Notice, then Purchaser shall deliver a dispute notice (a “Post-Closing Milestone Dispute Notice”) to Sellers’ Representative within fifteen (15) days following Sellers’ Representative’s delivery of the Post-Closing Assessment Notice. A representative of Purchaser, on the one hand, and the Sellers’ Representative, on the other, shall attempt in good faith to resolve any such objections within fifteen (15) days of the receipt by Sellers of the Post-Closing Milestone Dispute Notice. If no Post-Closing Milestone Dispute Notice is delivered within the fifteen (15) day time period, then Sellers’ determination that the Additional Milestone has been achieved, and that the amount of the Milestone Payment specified in the Post-Closing Milestone Dispute Notice is due hereunder, shall be deemed to be accepted and Purchaser shall pay to Sellers those amounts set forth in the Post-Closing Assessment Notice no later than five (5) days after the expiration of such fifteen (15) day time period.

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