IoT Revenue definition
IoT Revenue means all revenue generated from the sale of (a) any of the Products set forth on Schedule 9.1(f), and designed and manufactured for, or otherwise used in, the “Internet of Things”, plus (b) multi-chip modules (“MCM”) or system-in-packages (“SiP”) that contain NMI’s Wi-Fi or Bluetooth Intellectual Property and are designed and manufactured for use in the “Internet of Things,” and, in the case of each of clauses (a) and (b), any successor products or derivatives thereof that are based on, use or incorporate NMI Intellectual Property. Notwithstanding the foregoing, IoT Revenue will not include (i) any revenue realized from the sale of (x) standalone microcontrollers, reference designs, or any other Parent or Parent Affiliate products that incorporate, include, or otherwise integrate NMI firmware or other software, or (y) any MCM or SiP containing Wi-Fi or Bluetooth technology and/or products that are not based on, use or incorporate NMI Intellectual Property; (ii) any revenue realized from the sale of products for use in handset or tablet devices, “mobility” products or other products or technologies of a similar nature; or (iii) revenue realized from the sale of Parent and Parent Affiliate products that are not specifically marketed for, or intended specifically for use in, the “Internet of Things.”
Examples of IoT Revenue in a sentence
NMI shall prepare, in a manner consistent with GAAP, and deliver to Parent, at Closing, the First Earnout Period Pre-Closing Revenue Statement, which shall set forth a true and correct schedule setting forth, in reasonable detail, by product, the First Earnout Period Pre-Closing IoT Revenue and the First Earnout Period Pre-Closing Broadcast Revenue.