Guaranteed Minimum Royalty. Commencing as of the third calendar quarter of 2021, if, for any reason, the total Royalty Revlon pays to BrandCo under Section 4.1 for any calendar year is less than the amount of the Guaranteed Minimum Royalty for such year, then within thirty (30) days after the end of such calendar year, Revlon shall pay to BrandCo the shortfall between the amounts actually paid and the Guaranteed Minimum Royalty for the applicable calendar year (the “GMR Payment”). The Parties acknowledge and agree that (a) the Guaranteed Minimum Royalty shall be (i) reduced pro-rata for calendar year 2021 solely to take into account that Revlon’s obligation to pay to BrandCo the GMR Payment commences as of the third calendar quarter of 2021 and (ii) increased by five percent (5%) on an annual basis, commencing on the first day of the third calendar quarter of 2022 and on each anniversary thereafter, and (b) if this Agreement terminates for any reason, the Guaranteed Minimum Royalty for that year shall be reduced pro-rata and the GMR Payment based on the shortfall between the amounts actually paid and the prorated Guaranteed Minimum Royalty shall be due immediately upon such termination.
Guaranteed Minimum Royalty. In consideration of the license granted hereunder and the other covenants and obligations of Licensor hereunder, Licensee shall pay to Licensor the greater of (A) the Sales Royalty provided by Section 9(A) based on Licensee's Net Sales during each Sales Year of the Term, or (B) the Guaranteed Minimum Royalty (which are nonrefundable, recoupable advances against certain Sales Royalties) as follows: The Initial Term Sales Year 1 $* Payable as follows: $* as a nonrefundable, recoupable advance against certain Sales Royalties, on or before the end of the Shareholder Approval Period (defined below) (i.e. 150 days following the Effective Date, or 170 days following the Effective Date if the Extended Review Period (defined below) is in effect per Article 20 below). * Confidential terms omitted and provided separately to the Securities and Exchange Commission. 11 Sales Year 2 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * Sales Year 3 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * Sales Year 4 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * Sales Year 5 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * The Guaranteed Minimum Royalty for the entire Initial Term shall be $*. The Guaranteed Minimum Royalty for each Sales Year during the Initial Term shall be credited only against the Sales Royalty due during the Initial Term. The Renewal Term Sales Year $* Sales Year 6 $* due by * Payable as follows: $* due by * $* due by * $* due by * Sales Year 7 $* * Confidential terms omitted and provided separately to the Securities and Exchange Commission. 12 Payable as follows: $* due by * $* due by * $* due by * $* due by * Sales Year 8 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * The Guaranteed Minimum Royalty for the entire Renewal Term shall be $*. The Guaranteed Minimum Royalty for each Sales Year during the Renewal Term shall be credited only against the Sales Royalty due during the Renewal Term. During the Term, on a quarterly basis, Licensee shall pay to Licensor the greater of an amount equal to the Minimum Guaranteed Royalty or the actual Sales Royalty, as defined below, due on Net Sales for such quarterly period. The Sales Royalty, as defined below, paid for any Sales Year of the Initial Term in excess of the Guaranteed Minimum Royalty due in such Sales Year (hereinafter, "Initial Term Excess Royalty"), shall be credited against the Guaranteed Minimu...
Guaranteed Minimum Royalty. Subject to Licensor’s satisfaction of its obligations under Schedule B, Licensee shall pay Licensor a “Guaranteed Minimum Royalty”, payable in quarterly installments (except as set forth below with respect to CP1), in each contract period as follows: (i) Five Hundred Fifty Thousand Dollars ($550,000) in CP1; (ii) One Million One Hundred Thousand Dollars ($1,100,000) in CP2; and (iii) One Million Six Hundred Fifty Thousand Dollars ($1,650,000) in CP3. The Guaranteed Minimum Royalty due to Licensor in connection with CP1 shall be satisfied by the payment of an advance.
Guaranteed Minimum Royalty. First License Period: Sixty Thousand Dollars ($60,000.00) to be paid as follows: $15,000.00 due upon execution of this Agreement by Licensee; $15,000.00 due on or before April 15,1997; $15,000.00 due on or before July 15,1997; $15,000.00 due on or before October 15, 1997. Second License Period (If Renewed): Seventy - Five Thousand Dollars ($75,000.00) to be paid as follows: $18,750.00 due on or before January 15, 1998; $18,750.00 due on or before April 15, 1998; $18,750.00 due on or before July 15, 1998; $18,750.00 due on or before October 15, 1998.
Guaranteed Minimum Royalty. Licensee agrees upon execution of that agreement to pay Licensor for the ‘’First Term’’ as an advance on royalties the sum of two hundred and fifty thousand dollars ($ 250,000). For the ‘’Extended Terms’’ of that agreement, Licensee agrees to pay Licensor a non-refundable “Guaranteed Minimum Royalty” listed below under “Guarantee”, allocated in quarterly installments. ANNUAL PERIOD GUARANTEE MINIMUM NET SALES 04/18/07 - 12/31/08 $ 250,000 $ 2 500,000 01/01/09 - 12/31/09 $ 250 000 $ 2 500 000 01/01/10 - 12/31/10 $ 500 000 $ 5 000 000 01/0/1/11 - 12/31/11 $ 750 000 $ 7 500 000 01/01/12 - 12/31/12 $ 1 000 000 $ 10 000 000
Guaranteed Minimum Royalty. 8.1 (a) In consideration of both the license granted and the design services to be performed by Licensor hereunder, Licensee shall pay to Licensor a Guaranteed Minimum Royalty for each Annual Period as follows: Guaranteed Minimum Annual Period Royalty ------------- ------- First $ Second $ Third $
Guaranteed Minimum Royalty. In consideration of both the license granted and the services to be performed by Ms. Pxxxx Xxxxxx hereunder, Licensee shall pay to Licensor an annual Guaranteed Minimum Royalty during the initial Term of the Agreement of $ * per Annual Period, with payment of 50% for the first Annual Period due upon execution hereof and the balance of the Guaranteed Minimum Royalties payable as specified below: TOTAL ANNUAL ANNUAL PERIOD ANNUAL MIN. ROYALTY DUE GUARANTEED MIN ROYALTY --------------------------- ----------------------- ---------------------- First: Execution to 1/15/07 $ * upon execution; $ * $ * on 7/15/05 Second: 1/16/07 to 1/15/08 1/16/07 $ * Third: 1/16/08 to 1/15/09 1/16/08 $ * Fourth: 1/16/09 to 1/15/10 1/16/09 $ * Fifth: 1/16/10 to 1/15/11 1/16/10 $ * In the event that the Initial Term of this Agreement is extended for an additional five-year term (January 16, 2011 through January 15, 2016, the "Extended Term") the Guaranteed Minimum Royalty for each Annual Period of the Extended Term shall be $ *. The Guaranteed Minimum Royalty payable to Licensor for each Annual Period in the Extended Term shall be payable upfront on January 16th of the beginning of each Annual Period in the Extended Term. For example, the Guaranteed Minimum Royalty payable for the Annual Period from January 16, 2011 through January 15, 2012 shall be payable $ * on January 16, 2011. Subject to the exception in Article 9(C) below, the Guaranteed Minimum Royalty for each Annual Period shall be credited against the Sales Royalty for only the same Annual Period as provided in Article 9 below.
Guaranteed Minimum Royalty. Licensee agrees that it will pay guaranteed minimum Royalties in the amount of $15 million per year on a pre-tax basis, only until the exclusive license granted in Section 3.1(b) is terminated under Section 5.2(d) in whole or in part.
Guaranteed Minimum Royalty. Licensee shall, during each Annual Period or portion thereof (calculated on a pro rata basis), pay to Licensor the guaranteed minimum royalties (“GMR”) set forth in Exhibit G. GMR payments shall be payable in quarterly installments in advance on the first day of each quarter during each Annual Period during the Term. In no event shall the GMR for any Annual Period be less than * of the Minimum Sales Level for that Annual Period, except that for the Annual Period ending March 31, 2010, the Guaranteed Minimum Royalty shall be * of the Minimum Sales Level.
Guaranteed Minimum Royalty. In consideration of both the license granted and the services to be performed by Licensor hereunder, Licensee shall pay to Licensor an annual Guaranteed Minimum Royalty as follows:
