Client Net Revenue definition

Client Net Revenue has the meaning given in Schedule 3;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Client Net Revenue means, for each client of the Company (including Investment Advisory Clients) that is party to a Contract that is in effect and to which the Company or any of its Subsidiaries is bound as of the date hereof, the amount set forth next to the name of such client on Exhibit D (it being understood that any amount set forth under the heading “Advisory” shall relate to the Investment Advisory Contract(s) with the applicable client and any amounts set forth under “Technology” and “Prof Svcs” shall relate to any other Contract with the applicable client).

Client Net Revenue means (1) the aggregate each month of the Client's revenue received from its sublicensing arrangements in respect of the Software as calculated in accordance with paragraph (A) below less up to 25% of that aggregate amount to cover the irrecoverable out-of-pocket costs of communications, hosting, hardware, development and other technology related services required in connection with the Cantor Casino System and (2) any upfront payments received from sublicensees after deduction of the items listed in paragraph (B) below.

Examples of Client Net Revenue in a sentence

Modification to Schedule 3 (No Invoice): Section 3a) of Schedule 3 is deleted and replaced with the following: Within thirty (30) days of the end of each Revenue Period ("Payment Date"), IWG shall deliver a Statement ("Statement") in the form set out in Annex 1 detailing the amount of Gross Revenue for that Revenue Period, the calculation of the payment of Gross Revenue and the Client Net Revenue, along with payment of the Client Net Revenue due to Client as shown on the Statement.
Within [***] after receipt of the Statement, the Client shall calculate whether the amount of Client Net Revenue paid to the Client for such Revenue Period is (a) correct or (b) incorrect, in which case the Client shall serve written demand on IWG explaining the error and demanding any excess due (the "Excess").
Within ten (10) Working Days after receipt of the Statement the Client shall calculate whether the amount of the Client Net Revenue paid to the Client for such Revenue Period is (a) correct, in which case the Client shall submit an invoice to IWG for the Client Net Revenue specified in the Statement; or (b) incorrect, in which case the Client may serve a written demand on IWG explaining the error and demanding any excess due (the “Excess”).
Modification to Schedule 3 (No Invoice): Section 3a) of Schedule 3 is deleted and replaced with the following: Within [***] of the end of each Revenue Period ("Payment Date"), IWG shall deliver a Statement ("Statement") in the form set out in Annex 1 detailing the amount of Gross Revenue for that Revenue Period, the calculation of the payment of Gross Revenue and the Client Net Revenue, along with payment of the Client Net Revenue due to Client as shown on the Statement.
Within ten (10) Working Days after receipt of the Statement, the Client shall calculate whether the amount of Client Net Revenue paid to the Client for such Revenue Period is (a) correct or (b) incorrect, in which case the Client shall serve written demand on IWG explaining the error and demanding any excess due (the "Excess").