NET SERVICE definition
NET SERVICE. REVENUES" SHALL mean NET REVENUES derived from the sale or performance of LICENSED SERVICES.
NET SERVICE means recognised service less any period of unpaid leave in excess of 10 days, subject to sub-clause 30.14 - Sick Leave Without Pay.
NET SERVICE. REVENUES" shall mean actual revenues received for the performance of LICENSED SERVICE less sales and/or use taxes imposed upon and with specific reference to the LICENSED SERVICE, trade discounts allowed, refunds and rebates. If a LICENSED SERVICE is offered in combination with another service or services, NET SERVICE REVENUES for purposes of determining royalties on the LICENSED SERVICE shall be calculated by multiplying the NET SERVICE REVENUES [as defined above, but applied to the combination services], by the fraction A/(A+B), where A is the invoice price of the LICENSED SERVICE and B is the invoice price of the other service or services in the combination if sold separately.
Examples of NET SERVICE in a sentence
Royalty Reports shall disclose the amount of LICENSED PRODUCT(S) and LICENSED SERVICE(S) sold, the total NET SALES and NET SERVICE REVENUES of such LICENSED PRODUCT(S) and LICENSED SERVICE(S), and the running royalties due to JHU as a result of NET SALES and NET SERVICE REVENUES by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) thereof.
Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement.
Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company, AFFILIATED COMPANIES and SUBLICENSEE(S), based on NET SALES and NET SERVICE REVENUES for the term of this Agreement.
All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU, but shall be deducted from gross sales revenues and fees and gross service revenues and fees in the calculation of NET SALES and NET SERVICE REVENUES to the extent such taxes have been included in gross sales revenues and fees and gross service revenues and fees.
Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES , based on NET SALES and NET SERVICE REVENUES for the term of this Agreement.
More Definitions of NET SERVICE
NET SERVICE. REVENUES” shall mean ***.
NET SERVICE. REVENUES” shall mean the total invoiced service revenues for the performance of LICENSED SERVICE sold by Company, less the following sums actually paid or credited by Company as shall be detailed in Company’s reports made pursuant to Paragraph 5.1 of this AGREEMENT:
(a) trade, quantity or cash discounts allowed in amounts customary in the trade;
(b) outbound transportation charges prepaid or allowed on the cost of shipping to customers that are included as a separate line item, if any; and
(c) credits or allowances, if given or made for LICENSED SERVICES, price adjustments, returns, rejections, recalls or destructions (voluntarily made by or requested or made by an appropriate government agency, subdivision or department) of LICENSED SERVICES previously delivered. LICENSED SERVICES used for non-revenue producing activity such as promotional items or field trials to support future sales shall not be considered to be NET SALES.
NET SERVICE. REVENUES” shall mean gross service revenues and fees billed by Company, AFFILIATED COMPANY(IES) and/or SUBLICENSEE(S) for the performance of LICENSED SERVICE(S) less (i) the direct costs associated with providing such services any discounts, rebates, returns and charge backs actually taken and (ii) import, export, excise, sales, value added and use taxes, custom duties invoiced to and/or paid by the purchaser of such LICENSED SERVICE(S). In the event that Company, AFFILIATED COMPANY(IES) and/or SUBLICENSEE(S) sells a LICENSED SERVICE in combination with other services, active ingredients or components which are not LICENSED PRODUCTS or LICENSED SERVICES (“Other Items”), the NET SERVICE REVENUES for purposes of royalty payments on the combination shall be calculated as follows:
(a) If all LICENSED SERVICES and Other Items contained in the combination are available separately in the relevant country of sale, the NET SERVICE REVENUES for purposes of royalty payments will be calculated by multiplying the NET SERVICE REVENUES of the combination by the fraction A/A+B, where A is the average of separately available price of all LICENSED SERVICES in the combination, and B is the average of separately available price for all Other Items in the combination in each case in the relevant country of sale.
(b) If the combination includes Other Items which are not sold separately in the relevant country of sale (but all LICENSED SERVICES contained in the combination are available separately in the relevant country of sale), the NET SERVICE REVENUES for purposes of royalty payments will be calculated by multiplying the NET SERVICE REVENUES of the combination by A/C, where A is as defined above and C is the invoiced price of the combination.
(c) If the LICENSED SERVICES contained in the combination are not sold separately in the relevant country of sale, the NET SERVICE REVENUES for such combination shall be NET SERVICE REVENUES of such combination as defined in the first sentence of this Paragraph 1.12. However, the parties agree to negotiate a reduction in the royalty rate to reflect the fair value that the LICENSED SERVICES attributed to the overall product sold, but in no event shall the royalty rates be reduced by greater than fifty [***]. [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. For clarity, NET SER...
NET SERVICE. REVENUES" shall mean gross service revenues and fees billed by Company, AFFILIATED COMPANY and SUBLICENSEE(S) for the performance of LICENSED SERVICE(S) less sales and/or use taxes imposed upon and with specific reference to the LICENSED SERVICE(S). In the event that Company, AFFILIATED COMPANY or SUBLICENSEE(S) sells a LICENSED SERVICE(S) in combination with other services or substances or as part of a kit, the NET SERVICE REVENUES for purposes of royalty payments shall be based on the sales revenues and fees received in proportion to that received from the licensed product.
NET SERVICE. REVENUES" shall mean actual ▇▇▇▇▇▇▇▇ for the performance of services by CCT, AFFILIATED COMPANY or CCT's sublicensees, to an unaffiliated third party for the LICENSED SERVICE, less trade discounts allowed, refunds, rebates shipping costs and insurance actually paid by the seller and sales or other use taxes imposed upon and with specific reference to the LICENSED SERVICE.
NET SERVICE. REVENUES", subject to Paragraph 4.12, below, shall mean actual gross revenues received by Company or AFFILIATED COMPANIES for the performance by them of LICENSED SERVICE less sales and/or use taxes less sales and/or use taxes imposed upon and with specific reference to the LICENSED SERVICE, and discounts or rebates accrued, incurred or paid to Federal Medicaid or State Medicare or other payors and amounts exactly repaid or credited by reason of rejection of services (due to recalls, dating or other reasons).
NET SERVICE. REVENUES" shall mean gross service revenues and fees billed by COMPANY, AFFILIATED COMPANY, SUBLICENSEE(S) and/or DEVELOPED PRODUCT LICENSEE(S) for or in connection with the performance of LICENSED SERVICE(S) and/or DEVELOPED PRODUCT(S) less reasonable and appropriate (and, in each every case, actually paid or applied) trade discounts allowed, refunds, returns and recalls, duties and sales and/or use taxes imposed upon and directly related to the sale of or fee the LICENSED SERVICE(S) and/or DEVELOPED PRODUCT(S). In the event that COMPANY, AFFILIATED COMPANY, SUBLICENSEE(S) and/or DEVELOPED PRODUCT LICENSEE(S) sells a LICENSED SERVICE(S) and/or DEVELOPED PRODUCT(S) in combination with Other Items or as part of a kit that contains Other Items, the NET SERVICE REVENUES for purposes of royalty payments shall mean the amount billed by COMPANY, AFFILIATED COMPANY, SUBLICENSEE(S) and/or DEVELOPED PRODUCT LICENSEE(S) on sales of the combination process, service or product less the deductions set forth above, multiplied by a proration factor determined as follows:
(a) If all LICENSED SERVICE(S) and/or DEVELOPED PRODUCT(S) and Other Items were sold separately during the same or immediately preceding year, the proration factor shall be determined by the formula [A / (A+B)], where A is the aggregate gross sales price of all LICENSED SERVICE(S) and/or DEVELOPED PRODUCT(S) components during such period when sold separately from the Other