Continuing Royalty. The term “Continuing Royalty” shall mean the continuing royalty described in subparagraph 5.02(a) hereof.
Continuing Royalty. In addition to the initial fee, during the initial ------------------ term of this Agreement, and for so long thereafter as Franchise Owner realizes Gross Receipts (as defined in Section 5.7), Franchise Owner agrees to pay to Franchisor a continuing monthly royalty fee (the "Continuing Monthly Royalty Fee") in the amount equal to nine percent (9%) of the first $1,000,000 of Gross Receipts during each calendar year, seven percent (7%) of the next $1,000,000 of Gross Receipts during each calendar year, and five percent (5%) of all Gross Receipts in excess of $2,000,000 during each calendar year. The dollar amounts subject to the 9%, 7% and 5% royalty percentage rates ("Dollar Amounts") shall be subject to annual revision as provided herein. On each January 1st, the Dollar Amounts shall be multiplied by a fraction (the "Fraction") determined as follows: The numerator shall be equal to the Consumer Price Index for all Urban Consumers, Medical Care Component ("index"), published for the preceding October by the United States Bureau of Labor Statistics. The denominator shall be the index published for the month one (1) year prior to the month used in calculating the numerator. The Dollar Amounts shall be replaced with the product resulting from multiplying each Dollar Amount by such Fraction rounded down to the nearest One Dollar ($1.00), but not less than the then-existing Dollar Amounts. All royalty payments due Franchisor during the calendar year of the adjustment shall be calculated based on the replacement Dollar Amounts. If the index is changed such that the base year differs for the two months used in determining the Fraction, the index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the index is discontinued or revised during the term of this Agreement, such other governmental index or computation with which it is replaced shall be used to obtain substantially the same result as would be obtained if the index had not been discontinued or revised.
Continuing Royalty. (a) In addition to the Initial Franchise Fee, commencing on the Effective Date of this Agreement, Franchisee shall pay to Franchisor a Continuing Royalty equal to percentages of certain Gross Revenues derived from the Franchised Business during Franchisee’s First and succeeding Anniversary Years, as set forth in the following schedule: SCHEDULE Greater Than To Continuing Royalty 0 $ 1,500,000 6.00% 1,500,000 2,500,000 5.25% 2,500,000 3,500,000 4.50% 3,500,000 5,000,000 3.75% 5,000,000 7,500,000 3.50% 7,500,000 15,000,000 3.35% 15,000,000 20,000,000 2.75% 20,000,000 25,000,000 2.50% 25,000,000 50,000,000 2.25% 50,000,000 l 00,000,000 2.00% 100,000,000 and greater 1.80%
Continuing Royalty. For and in consideration of Franchisor’s execution and performance of this Agreement, Franchisee shall pay in United States Do1lars to Franchisor a Continuing Royalty equal to one percent (1%) of all Franchisee’s monthly Gross Sales as hereinafter defined. Should the annual Continuing Royalty paid to Franchisor by Franchisee under this Agreement in respect of any fiscal year of Franchisee (commencing with Franchisee’s fiscal year beginning October 1, 1987) be less than Three Hundred Thousand Dollars ($300,000.00) (“minimum Continuing Royalty”) in respect of eighty-eight (88) International House of Pancakes Restaurants operated or subfranchised by Franchisee as of December 31, 1987, (“existing units”), Franchisee will lose one (1) year of any extension of the term hereof earned by Franchisee pursuant to
Continuing Royalty. A royalty equal to eight and one-half percent (8-1/2%) of the cash receipts from the sale or license by Bogaxx xx products or services containing the FACTOR 1000 technology, but not including any revenues derived by Bogaxx xxxm installation, maintenance, consulting, hardware sales, or any other revenues not directly or indirectly related to the FACTOR 1000 or CTT technology. BFI shall have the right to audit Bogaxx'x xxxords, with adequate notice, for the purpose of verifying royalty payments. Said royalty shall be due and payable within thirty (30) days after the conclusion of each calendar quarter commencing with the quarter ending December 31, 1995.
Continuing Royalty. Ontro shall pay a continuing royalty in any year in which Ontro generates at least $4 million in annual net after tax operating income, including payment of all royalties due in connection with this Agreement. The amount of such additional royalty shall be the greater of (I) two percent (2%) of the gross sales for all sales up to $30 million in Ontro sales of products utilizing the licensed technology; or (ii) 1.5 cents per unit sold, and, to the event gross sales of products utilizing the licensed technology exceed $30 million, the amount of additional royalty payable with respect to such excess shall be the greater of (I) three percent (3%) of the amount of gross sales in excess of $30 million; or (ii) 1.5 cents per unit sold in excess of the first $30 million in sales.
Continuing Royalty a) Subject to the prepayment of royalty payments described in Section 8(a)(i) above, commencing one year from the Effective Date, the Licensee shall pay to the Licensor the greater of (i) Two Million Dollars (US$2,000,000) 7 annually or (ii) Ten Percent (10%) of the Licensee's gross revenues (as determined pursuant to US General Accepted Accounting Principles) of the Licensee, until such time as the sum of Eighteen Million Dollars (US$18,000,000) in royalty payments have been received by the Licensor from the Licensee; at which time
Continuing Royalty. In return for the on-going rights and privileges granted to the Franchisee hereunder, the Franchisee shall pay to the Franchisor throughout the term of this Agreement a royalty of five percent (5%) of Gross Sales for each Monthly Period, such royalties to be payable in arrears on or before the fifteenth (15th) day of the month immediately following the expiry of the Monthly Period for which payment is being made, including the fifteenth (15th) day of the month following the final Monthly Period of the Term. THE PUPPY ZONE DOG DAY CARE & ADVENTURE CENTRE INC. FRANCHISE AGREEMENT
Continuing Royalty. Notwithstanding the provisions of paragraph 5.02 of the New Franchise Agreement and subject to the provisions of paragraph 2 of this Third Amendment, during the First Anniversary Year and in each Anniversary Year thereafter, Franchisee shall pay to Franchisor a Continuing Royalty equal to [***]% of certain Gross Revenues. Notwithstanding the previous sentence, during any Anniversary Year in which Franchisee achieves Gross Revenues in an amount exceeding $[***], Franchisee shall pay to Franchisor a Continuing Royalty equal to the percentages of certain Gross Revenues in accordance with the following Schedule I: SCHEDULE I Greater Than ($) To ($) Continuing Royalty (%) $[***] $[***] [***]% $[***] $[***] [***]% $[***] and greater [***]% [***] Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. For the avoidance of doubt, the purpose of Schedule I is to provide Franchisee with the benefit of the lower Continuing Royalty fees with respect to specific Anniversary Years where the application of Schedule I results in lower Continuing Royalty fees than the [***]% rate above. Following the end of each Anniversary Year in which Franchisee has achieved certain Gross Revenues in excess of $[***], Franchisee’s actual Continuing Royalty fees due and owing for such Anniversary Year shall be calculated pursuant to Schedule I above and Franchisor shall notify Franchisee of such amount. The actual Continuing Royalty fees paid during the Anniversary Year shall be compared to the actual amount due Franchisor for that Anniversary Year in order to calculate any “true-up” amount due to or from Franchisee and Franchisor. Within thirty (30) days of such notification, the party owing such “true-up” funds shall make full payment to the other party.
Continuing Royalty. Section 5.02 is hereby deleted in its entirety and replaced with the following:
