Minimum Weekly Fees Sample Clauses

Minimum Weekly Fees. The parties are entering into this Agreement with the understanding and agreement that Licensee will generate sufficient Gross Revenues from the Business for the first Operating Year of the Initial Term to enable Licensee to pay a Minimum Annual Fee during the first Operating Year equal to Three Hundred Thousand Dollars ($300,000.00) and, further, Licensee will generate sufficient Gross Revenues from the Business for the second Operating Year of the Initial Term to enable Licensee to pay a Minimum Annual Fee during the second Operating Year equal to Five Hundred Thousand Dollars ($500,000.00). Beginning with the third Operating Year of the Term and each Operating Year thereafter, the foregoing Five Hundred Thousand Dollars ($500,000.00) Minimum Annual Fee will be adjusted as provided in Section 5(c) below. The Annual Minimum Fee will be paid in fifty-two (52) equal installments over the applicable Operating Year (the “Minimum Weekly Fee”). The Minimum Weekly Fee for any partial week during the Term shall be calculated as provided in Section 1(n) above. If the total Gross Revenues from the Business for any week during any Operating Year are not sufficient to generate a weekly Concession Fee which equals or exceeds the Minimum Weekly Fee for such week, then Licensee will pay, in addition to the Concession Fee for that week, a Weekly Adjustment for such week. Such Weekly Adjustment will be deducted from Gross Revenues and retained by UCDP prior to paying Licensee’s Share to Licensee for any week that the Concession Fee does not equal or exceed Minimum Weekly Fee. Excepting only as specifically provided otherwise herein with regards to the abatement of the Minimum Weekly Fees for the first sixty (60) days of the Initial Operating Year, the Minimum Weekly Fees shall not be subject to any reduction, whether by virtue of any Deferred Concession Fee or for any other reductions or payments due hereunder; provided, however, in determining whether any Weekly Adjustment is due, the weekly Deferred Concession Fee shall not be deducted from the weekly Concession Fee prior to calculating the Weekly Adjustment, if any, {For example, if Gross Revenues are $8,000.00 for one week of the first Operating Year, the Concession Fee for that week would be $2,400.00 (30% of $8,000.00), the Minimum Weekly Fee for that week would be $600,00 ($3,000.00 - $2,400.00), the Deferred Concession Fee for that week would be $800.00 (10% of $8,000.00), then UCDP would deduct the foregoing Defe...