ANNUAL EXCLUSIVITY PAYMENT Sample Clauses

ANNUAL EXCLUSIVITY PAYMENT. 7.1 If by the end of any calendar year of the Term, the Annual Gross Operating Revenues are less than the applicable Annual Minimum for such year, then Manager shall be liable for and pay the corresponding Annual Exclusivity Payment for the exclusive right to provide the Management Services in such year.
Sample 1
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ANNUAL EXCLUSIVITY PAYMENT. Bank will pay University $35,000 annually during the Term of this Agreement for marketing exclusivity rights so long as University upholds the terms set forth in Section 23 below and all banking services provided in connection with this Agreement are exclusive to Bank. Payment Timeframes. Payments described in this Section 4 will be deemed paid upon receipt by the University at the address indicated herein for receipt of notices pursuant to Section 28, and will be paid as follows: • The Initial Signing Bonus will be paid after execution of this Agreement and within sixty (60) days of Bank’s receipt of an invoice from University. • Total enrollment (as of last week of October of the current academic year’s Fall semester) to be provided to Bank by University in October 2022 for first account royalty payment calculation and in subsequent years of term. The first royalty payment based on penetration (see chart above) would be calculated in November 2022 and paid to University within sixty (60) days of receipt of an invoice from University. • The Annual Exclusivity Payment will be paid to University annually in March, starting with March 2022, after Bank’s receipt of an invoice from University. • Payments from Bank to University pursuant to this Agreement will be made according to the following Payment Schedule: Payment Schedule* Initial Signing Bonus $50,000 Within 60 days of signed Agreement Annual Exclusivity Payment $35,000 Paid in March each year of the Term Royalty Payment 1 for 2021-2022 $20,000-$100,000 January 2023 Royalty Payment 2 for 2022-2023 $20,000-$100,000 January 2024 Royalty Payment 3 for 2023-2024 $20,000-$100,000 January 2025 Royalty Payment 4 for 2024-2025 $20,000-$100,000 January 2026 Royalty Payment 5 for 2025-2026 $20,000-$100,000 January 2027 Renewal Options with $50,000 for First Renewal Year Royalty Payment 6 for 2026-2027 $50,000 + $20,000-$100,000 January 2028 Royalty Payment 7 for 2027-2028 $20,000-$100,000 January 2029 Royalty Payment 8 for 2028-2029 $20,000-$100,000 January 2030 * Exact Royalty Payment amounts will be based on penetration (see Weighted Campus Card Program chart above), and all payment timeframes listed in this Payment Schedule are estimated and subject to Bank first receiving an invoice from University.
Sample 1

Related to ANNUAL EXCLUSIVITY PAYMENT

  • Non-Exclusivity The services of the Adviser to the Manager, the Allocated Portion and the Trust are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others and to engage in other activities. It is understood and agreed that the directors, officers, and employees of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors, trustees, or employees of any other firm or corporation.

  • Non-Exclusivity of Services The Manager is free to act for its own account and to provide investment management services to others. The Fund acknowledges that the Manager and its officers and employees, and the Manager's other funds, may at any time have, acquire, increase, decrease or dispose of positions in the same investments which are at the same time being held, acquired or disposed of under this Agreement for the Fund. Neither the Manager nor any of its officers or employees shall have any obligation to effect a transaction under this Agreement simply because such a transaction is effected for his or its own account or for the account of another fund. Fund agrees that the Manager may refrain from providing any advice or services concerning securities of companies for which any officers, directors, partners or employees of the Manager or any of the Manager's affiliates act as financial adviser, investment manager or in any capacity that the Manager deems confidential, unless the Manager determines in its sole discretion that it may appropriately do so. The Fund appreciates that, for good commercial and legal reasons, material nonpublic information which becomes available to affiliates of the Manager through these relationships cannot be passed on to Fund.

  • Royalty Payment For all leased substances that are sold during a particular month, Lessee shall pay royalties to Lessor on or before the end of the next succeeding month. Royalty payments shall be accompanied by a verified statement, in a form approved by Lessor, stating the amount of leased substances sold, the gross proceeds accruing to Lessee, and any other information reasonably required by Lessor to verify production and disposition of the leased substances or leased substances products. Delinquent royalties may be subject to late fees and penalties in accordance with Lessor’s Rules.

  • License Maintenance Fee Beginning and each thereafter, ***** will pay Stanford a yearly license maintenance fee of $ . Yearly maintenance payments are nonrefundable.

  • Milestone Payment Within thirty (30) days following the first Patent Issuance, Eton shall give written notice to Imprimis and shall pay to Imprimis a non-refundable and noncreditable payment of fifty thousand dollars ($50,000).

  • Royalty Rate Licensee shall pay to Licensor three percent (3%) of the first $25 million of Revenues received by Licensee or its Affiliates, and two percent (2%) of all additional Revenues received by Licensee or its Affiliates, subject to reductions pursuant to Sections 4.2.2 and 4.2.3.

  • License Maintenance Fees COMPANY shall pay to M.I.T. the following license maintenance fees on the dates set forth below: [January 1, year] [dollar amount] [January 1, year] [dollar amount] [and each January 1 of every year thereafter] [dollar amount] This annual license maintenance fee is nonrefundable; however, the license maintenance fee may be credited to running royalties subsequently due on NET SALES earned during the same calendar year, if any. License maintenance fees paid in excess of running royalties due in such calendar year shall not be creditable to amounts due for future years.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

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