Additional Royalty definition
Examples of Additional Royalty in a sentence
All unrecouped Minimum Royalty and unrecouped Additional Royalty shall be recoupable against the Termination Fee.
This Additional Royalty obligation shall not count towards the HET minimum royalty obligation specified in Section 3.2 of the 1999 License Agreement, and shall be in addition to any other royalty obligations specified in the 1999 License Agreement.
During the Term and for two (2) years from the date of each Royalty payment hereunder, DMG agrees to keep complete and accurate records of monies received by DMG reasonably necessary to calculate and verify the Royalty and Additional Royalty payments made to TufAmerica under this Section 4.
Unless or until Licensee’s obligation to pay the Additional Royalty and Licensee Provider Royalty is fully satisfied or has terminated, then, on or before January 30th of each calendar year, Licensee shall provide NetRatings with written statements of Licensee’s Revenue in the form annexed hereto as Schedule D.
Licensee’s obligation to pay the Additional Royalty on a yearly basis during the Term of this Agreement will terminate when the total amount of Additional Royalty fees paid by Licensee to NetRatings pursuant to this Section 3.1(ii) reaches one million U.S. dollars ($1,000,000), after which time the payments required under this Section 3.1(ii) shall be deemed to be paid in full, and no further royalty fees will be due under this Section 3.1(ii).
From that date forward, no Additional Royalty payments will be due.
Simultaneously with the making of any of the Additional Royalty payments which may be required under Section 3.1(ii) of this Agreement, Licensee shall provide NetRatings with a written statement in the form attached as Exhibit C hereto indicating the basis for the calculation of such Additional Royalty payments.
In the event that an inspection of books and records pursuant to Section 4.1 reveals an underpayment by Licensee of Additional Royalty payments under this Agreement, Licensee shall immediately pay NetRatings the difference between the amounts actually paid and the amounts required to be paid under this Agreement, plus interest calculated at the rate of One Percent (1%) per month.
With respect to the acceleration of Licensee’s payment obligations hereunder, the total payment obligations due shall be deemed to be the one-million U.S. dollars ($1,000,000) Initial Royalty minus all actual payments of the Initial Royalty made by Licensee to NetRatings under this Agreement as of the Termination Date, plus all Additional Royalty payments due as of the Termination Date.
In the event that the cumulative payable Additional Royalty payments do not equal the remaining [*] by January 15, 2003, HET shall pay to SMSI a lump-sum equal to the difference between the [*] and cumulative total Additional Royalty payments made payable by that date and upon payment of such a lump-sum, the Additional Royalty payments shall cease.