Common use of Minimum guaranteed Clause in Contracts

Minimum guaranteed. 5.1.1 From the financial year following that during which the first marketing of any NUTRACEUTICAL PRODUCT occurs, and in any event no later than the 2020 financial year, BIOPHYTIS shall pay SATT LUTECH an annual minimum guaranteed amount of [****]. 5.1.2 From the financial year following that during which the first marketing of any MEDICIAL PRODUCT occurs, and in any event no later than the 2026 financial year, BIOPHYTIS shall pay SATT LUTECH an annual minimum guaranteed amount of [****]. 5.1.3 The aforementioned amounts constitute an annual minimum guaranteed in return for the grant of the exclusive rights to the PATENTS as defined in Article 2 of the LICENSE AGREEMENT, which will be deducted from the amount of royalties actually owed by BIOPHYTIS annually pursuant to Article 5.2 below. 5.1.4 The guaranteed minimum thus defined is due each year, in December, for the financial year ending on 31