Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Sales and the Purchase Amount, as set forth in the chart below, and calculated as follows: (a) with respect to a Purchase Amount pursuant to Section 2.2(a) only, the percentage set forth in the applicable row of column 1, or (b) with respect to a Purchase Amount pursuant to both Section 2.2(a) and Section 2.2(b), the sum of (i) the percentage set forth in the applicable row of column 1, plus (ii) the percentage set forth in the applicable row of column 2: Royalty Tiers based on Annual Net Sales 1. If the Purchase Amount is Pursuant to Section 2.2(a) Only 2. If the Purchase Amount is Pursuant to Section 2.2 (b), Add to Column 1:
Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Revenues and the Investment Amount, as set forth in the chart below, and calculated as follows: (a) if only the First Investment Amount is funded pursuant to S ection 2.1(a), the percentage set forth in the applicable row of column 1, or (b) if the Second
Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Revenues, as set forth in the chart below: Payment Tiers based on Annual Net RevenuesApplicable Tiered Percentage
Examples of Applicable Tiered Percentage in a sentence
Revenue Financing AgreementIn April 2020, we entered into a Revenue Interest Financing Agreement with HCR whereby HCR will receive payments from us ata tiered percentage, or the Applicable Tiered Percentage, of future net revenues of MYCAPSSA and any of our other future products, including worldwide net product sales and upfront payments, and milestones, collectively, the Revenue Interests.
The Applicable Tiered Percentage will initially be 12.25% on annual net revenues up to $125 million, 4.00% on annual net revenues of between$125 million and $250 million and 1.00% on annual net revenues exceeding $250 million and each tier is subject to a step-down in the future if a certain target based on cumulative U.S. net sales of MYCAPSSA is met.
More Definitions of Applicable Tiered Percentage
Applicable Tiered Percentage means, for purposes of determined Included Product Payment Amount from and after April 1, 2024, the product of 7.000% and the Annual Net Revenues of Included Products.
Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Revenues, as set forth below:
Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Sales and the measurement date as set forth in the chart below: Payment Tiers based on Annual Net Sales Prior to or on December 31, 2026 On or after January 1, 2027 A. Portion of Annual Net Sales less than or equal to $100,000,000 6.012.0% 10.012.0% B. Portion of Annual Net Sales exceeding $100,000,000 and less than or equal to $200,000,000 3.0% 8.0% C. Portion of Annual Net Sales in excess of $200,000,000 0.5% 0.5% provided that if the Company does not receive Marketing Authorization from the FDA for the Gastric Balloon for the treatment of adults with obesity prior to or on June 30, 2025, the Applicable Tiered Percentage on the portion of Annual Net Sales less than or equal to $100,000,000 will increase to 12.0% beginning on July 1, 2025, and remain at 12.0% until the Company receives such Marketing Authorization from the FDA, at which time the Applicable Tiered Percentage on the portion of Annual Net Sales less than or equal to $100,000,000 would revert commencing the next Calendar Year to the scheduled Applicable Tiered Percentage at such time based on the chart above. By way of example, if such Marketing Authorization is received from the FDA at any time in 2025 after June 30, 2025, then the Applicable Tiered Percentage shall revert from 12% to 6% starting January 1, 2026, and if such Marketing Authorization is received from the FDA at any time in 2026, then the Applicable Tiered Percentage shall revert from 12% to 10% starting January 1, 2027.
Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Revenues and the Investment Amount, as set forth in the chart below, and calculated as follows: (a) if either only the Initial Investment Amount is funded pursuant to Section 2.1(a), or both the Initial Investment Amount and the Second Investment Amounts are funded by the Investors pursuant to Section 2.1(a) and Section 2.1(b), respectively, the percentage set forth in the applicable row of column 1, or (b) if the Third Investment Amount is also funded by the Investors pursuant to Section 2.1(c), the percentage set forth in the applicable row of column 2: Payment Tiers based on Annual Net Revenues 1. Only the Initial Investment Amount is funded pursuant to Section 2.1(a) or if the Initial Investment Amount and Second Investment Amounts are funded pursuant to Sections 2.1(a) and (b) 2. If the Third Investment Amount is also funded pursuant to Section 2.1(c)
Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Sales and the measurement date as set forth in the chart below: Payment Tiers based on Annual Net Sales Prior to or on December 31, 2026 On or after January 1, 2027
Applicable Tiered Percentage means for each Calendar Quarter, the percentage as set forth in the chart below: DateApplicable Tiered Percentage
Applicable Tiered Percentage means the percentage based on the applicable portion of Annual Net Revenues and the Investment Amount, as set forth in the chart below, and calculated as follows: (a) if only the First Investment Amount and Second Investment Amount are funded pursuant to Section 2.1(a) and Section 2.1(b), the percentage set forth in the applicable row of column 1, (b) if the Third Investment Amount is also funded pursuant to Section 2.1(c), the percentage set forth in the applicable row of column 2, and (c) if the Fourth Investment Amount is also funded pursuant to Section 2.1(d), the percentage set forth in the applicable row of column 3: