Common use of MINIMUM GUARANTEES Clause in Contracts

MINIMUM GUARANTEES. 6.6.1. Should M-Net be required to pay any minimum guarantees to * * pursuant to an agreement between * * whether in short form or long form, MultiChoice undertakes and guarantees that it shall pay to M-Net the minimum guarantees payable by M-Net in respect of those 20 countries listed in Schedule 2B hereto but only in respect of a maximum of 10,000 (ten thousand) Subscribers for all such countries taken together. The amount payable by MultiChoice to M-Net pursuant to the guarantee set out in this clause 6.7.1 shall be 10,000 less the actual number of Subscribers in all Schedule 2B countries during the relevant period multiplied by the actual programming cost payable per Subscriber paid by M-Net to * in respect of the countries set out in Schedule 2B for that period. If M-Net removes any country from Schedule 2B in terms of clause 24 or if M-Net appoints a third party distributor under clause 24.6.2, then the number of Subscribers in respect of which MultiChoice guarantees payment under this clause 6.7.1 shall be reduced by 500 in respect of each such removed country. Any amount payable by MultiChoice in accordance with this clause 6.7 will be payable by MultiChoice to M-Net on the last day of the Accounting Period in which such amounts are payable by M-Net to * and will be set out in an invoice which will be submitted by M-Net to MultiChoice conditional on the submission by MultiChoice to M-Net of the information set out in Schedule 4 in accordance with clause 7. 6.6.2. M-Net shall make available, upon reasonable notice by MultiChoice, and MultiChoice shall be entitled to examine and take copies of, all relevant books, records and/or contracts or extracts thereof containing information which may be required for the determination and verification of (i) any minimum guarantees payable by M-Net to * and (ii) the actual programming per Subscriber cost paid by M-Net to * as referred to in clause 6.7.1.