Minimum Performance. The Licensee hereby acknowledges that the grant of this license is a valuable property right and is granted by the Licensor on condition, among others contained in this Agreement, that the Licensee shall meet minimum annual sales quotas of AK Units. All sales made by the Licensee in the Country shall be included in establishing the minimum sales. Said minimum annual sales quotas, and the procedure for establishing said quotas, are contained in Schedule B, annexed hereto and made a part hereof. This Annex should reflect that the sales quotas are cumulative (i.e., overages in Y1 can be applied to Y2). The parties acknowledge that failure of the Licensee to meet cumulative sales quotas (other than failures resulting from Licensor’s inability to fill purchase orders from Licensee) in any calendar year shall be a material breach of this Agreement and the Licensor, at its option, may terminate this Agreement on sixty (60) days written notice pursuant to the provisions of Paragraph Termination For Cause below, provided however, that within said sixty (60) days the Licensee, at its option, may cure the default by purchasing in bulk the number of Units lacking to meet minimum performance hereunder. Any Units purchased to cure such default shall be deemed to have been purchased solely for the calendar year for which the default is cured. The Licensor’s sole remedy for the Licensee’s nonperformance of the provisions of this Paragraph shall be termination of this License Agreement pursuant to the provisions of Paragraph Termination For Cause.
Minimum Performance. 1.1 The Licensee hereby acknowledges that the grant of this License is a valuable property right and is granted by the Licensor on condition, among others contained in the Agreement, that the Licensee shall meet minimum annual sales quotas of AK Units. All sales made by the Licensee in shall be included in establishing the minimum sales. Said minimum annual sales quotas, and the procedure for establishing said quotas, are contained in and made a part hereof. The parties acknowledge that failure of the Licensee to meet sales quotas in any calendar year, shall be a material breach of this Agreement, and the Licensor, at its option, may terminate this Agreement on sixty (60) days written notice, provided however, that within said sixty (60) days the Licensee, at is option, may cure the default by purchasing in bulk the number of Units lacking to meet minimum performance hereunder. Any Units purchased to cure such default shall be deemed to have been purchased solely for the calendar year for which the default is cured. The Licensor’s sole remedy for the Licensee’s nonperformance of the provisions of this paragraph shall be termination of this License Agreement.
Minimum Performance if, after the sixth anniversary of the Initial capitalization of OSIRIS, payments due to CWRU under Article VI fall below fifty thousand dollars ($50,000) per year, the License granted by this Agreement shall be terminated unless OSIRIS pays CWRU the difference between the amount due and fifty thousand dollars ($50,000), unless extended by mutual agreement.
Minimum Performance. If you prepare fewer than 600 federal income tax returns in the Territory in any Tax Season beginning with your fifth Tax Season, we may, in our discretion, terminate this Agreement for cause by written notice to you given between May 1 and September 1 following that Tax Season.
Minimum Performance. Upon execution of this Amendment, OSIRIS shall pay and CWRU shall accept one hundred thousand dollars ($100,000) as royalty payments for the calendar years 2001 and 2002. For each subsequent calendar year during the term of this Agreement, if payments due to CWRU under Article VI are less than fifty thousand dollars ($50,000), OSIRIS shall pay CWRU the difference between the amount due and fifty thousand dollars ($50,000) on, or before, the due date for payments under Article VI (i.e. March 31 following the year payment obligations accrue). In the event OSIRIS defaults on its payment obligation, and fails to cure such default within 30 (thirty) days after receiving a notice of default and demand for payment from CWRU, any and all rights of OSIRIS to Developed Patent Rights under this License Agreement shall be terminated.
Minimum Performance. LICENSEE agrees to a minimum sales performance clause. LICENSEE shall pay to LICENSOR, quarterly in arrears and net 30 days, the following minimum fee during the Term (the “Minimum Fee”), even if LICENSOR has not caused to be manufactured sufficient End Products that quarter to justify the Usage License Fee. This Minimum Fee is non-refundable and if the Usage License Fee totals more than this Minimum Fee in any given quarter then this Minimum Fee is waived for that quarter. Usage License Fees in excess of the Minimum Fee do not accrue for use in subsequent quarters. ___________________________________ 1 [**]this information has been redacted as it contains commercially sensitive information relating to royalties. Quarter Minimum Fee (US$) May 31, 2024 84,000 Aug. 31, 2024 84,000 Nov. 30, 2024 174,000 Feb. 28, 2025 174,000 May 31, 2025 174,000 Aug. 31, 2025 174,000
Minimum Performance. Miami-Dade Exclusive Territory, Franchisee shall increase its existing Market Share within the Miami-Dade- Exclusive Territory over the remainder of the initial term of the Franchise Agreement by no less than [***]% in each Anniversary Year. The parties hereto stipulate that Franchisee’s Market Share is presently [***] within the Miami-Dade Exclusive Territory. Market Share shall be measured as of March 3 of each calendar year (“Measurement Date”) during the term of the Franchise Agreement Franchisee’s next Measurement Date is March 3, 2009. Market Share is defined as the percentage that Franchisee’s total closed dollar volume of residential transactions for properties located in the Exclusive Territory for the twelve-month period immediately preceding the Measurement Date bears to the total closed dollar volume of residential transactions of the Southeast Florida Regional MLS® for properties located in the Exclusive Territory over the twelve month period immediately preceding the Measurement Date (the “Closed Board Volume”). Stated as a mathematical equation: Market Share= Total Franchisee closed dollar volume in the Exclusive Territory Closed Board Volume in the Exclusive Territory Within (90) days after any Measurement Date, Franchisee shall provide Franchisor with such Closed Board Volume information, Franchisee’s Gross Revenues attributable to residential transactions for property located in the Exclusive Territory and any other information that is reasonably necessary to enable Franchisor to determine if Franchisee has [***] 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. achieved the required Market Share. Such information shall be provided on a yearly basis and in such form and at such times as may be directed by Franchisor. If the Southeast Florida Regional MLS® or its successors cease providing such information, or if the geographical area served by the Southeast Florida Regional MLS® or its successors change at any time or the information otherwise becomes unavailable for any reason, Franchisor shall attempt to obtain such information from other sources, or if obtaining such information is impractical, Franchisor shall obtain information which is, in Franchisor’s reasonable business judgment, a substitute for such information, in which case the substitute information shall constitute the Franchisee...
Minimum Performance. The LICENSEE agrees to be subject to minimum sales performance criteria whereby, from the commencement of the payment of the aggregate Usage License Fee as detailed in subsection (c) above, the LICENSEE agrees to pay the LICENSOR ***** (“the Minimum Fee”) for each such quarter, with the commencement of the first calendar quarter being the earlier of: (i) April 1, 2020; or (ii) the date that the LICENSEE commences commercial sales of the End Products. The Minimum Fee shall be increased to ***** per quarter upon the First Foreign Transaction Payment being effected. This Minimum Fee is non-refundable, however, if the aggregate Usage License Fee totals more than this Minimum Fee in any given quarter, then this Minimum Fee is waived for that calendar quarter. The LICENSEE shall be responsible for providing LICENSOR with a calendar quarterly estimate of the Usage License Fee within 15 days following the end of each quarter.3 _________________ 2 Certain information has been redacted: the omitted text sets forth the percentages payable by LICENSEE to LICENSOR. 3 Certain information has been redacted: the omitted text sets forth the quarterly minimum fee.
Minimum Performance. If Licensee is able to sublicense the Licensed Product in accord with the terms outlined in paragraph 2(c), thereby converting the license to an exclusive license, in order to maintain exclusivity, Licensee shall be required to accomplish Minimum Performance requirements. The time at which the Licensee will be required to begin attaining the Minimum Performance requirements will commence when the products have been completed for OTC requirements and stability testing has been completed.. Upon the Minimum Performance Commencement, Licensee shall be required to accomplish a Minimum Performance of at least ** in top-line gross revenue to licensee for the first 12 months after OTC testing is successfully completed. The minimum total top line revenue to licensee for year 2 to maintain an exclusive license is **, Year 3 ** Year 4 **, Year 5 **, Year 6 **, Year 7 and all years beyond Year 7 the minimum top line revenue to Licensee to maintain an exclusive license is **. If Licensee is short of the minimum dollar requirements in any year, Licensee can pay licensor the royalty amount that Licensor would have received if the minimum were met during that 12 month period to retain exclusivity. If minimum top-line revenues are not met, and the minimum royalty is not paid this agreements automatically converts to a non-exclusive license for the Acne category.
Minimum Performance. LICENSEE agrees to a minimum sales performance clause. LICENSEE shall pay a minimum fee of US$16,875 per quarter until the first anniversary of the Effective Date, US$60,000 per quarter until the second anniversary of the Effective Date, US$150,000 per quarter until the third anniversary of the Effective Date and thereafter until the completion of the Renegotiation Period, US$332,500 per quarter (the “Minimum Fee”) to LICENSOR quarterly in arrears and net 30 days, even if LICENSOR has not caused to be manufactured sufficient End Products that quarter to justify the Usage License Fee. This Minimum Fee is non-refundable and the first Minimum Fee shall be payable for the quarter commencing on September 1, 2022 and ending on November 30, 2022. If the Usage License Fee totals more than this Minimum Fee in any given quarter AFTER the first anniversary of the Effective Date, then this Minimum Fee is waived for that quarter. Usage License Fees in excess of the Minimum Fee do not accrue for use in subsequent quarters.
