Net Shipments definition

Net Shipments for the purposes of clause 10 shall mean the gross number of Shipments during the relevant Quarter of the relevant Karaoke Product by Catalogue Number and Relevant Format in relation to which royalties are payable under this Agreement, less the number of Returns thereof during that Quarter. In calculating the gross number of Shipments and the Returns for this purpose, no account shall be taken of Karaoke Products which are deletions (clause 11).

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Net Shipments for the purposes of clause 11 shall mean the gross number of Shipments during the relevant Quarter of the relevant Product by Catalogue Number and Format in relation to which royalties are payable under this Agreement, less the number of Returns thereof during that Quarter. In calculating the gross number of Shipments and the Returns for this purpose, no account shall be taken of Product which are deletions (clause 12) or which are exports (clause 9).

Net Shipments for the purposes of clause 17 shall mean the gross number of Shipments during the relevant Quarter of the relevant Disc by Catalogue Number and Format in relation to which royalties are payable under this Agreement, less the number of Returns thereof during that Quarter. In calculating the gross number of Shipments for this purpose, no account shall be taken of Discs which are Deletions (clause 18) or which are exports (clause 13).

Examples of Net Shipments in a sentence

Concurrent with Licensee's delivery of the above-described monthly report, Licensee shall provide Licensor with a listing of all of Licensee's accounts and customers showing the completed Net Shipments of Licensed Items achieved by Licensee for each account and/or each customer for the previous shipment month.
On or before the 20th day of the third month following the end of Licensee's fiscal year, Licensee shall render to Licensor a written statement, certified by a certified public accountant, showing gross shipments, Net Shipments, royalties due and royalties paid for Licensee's preceding fiscal year, and for any Contract Year which ended within said fiscal year.
In the event that Licensee has understated Net Shipments in excess of 2% or underpaid royalties in excess of 2% of the amount due for any Contract Year, Licensee shall forthwith and upon written demand also pay all costs, fees and expenses incurred by Licensor in conducting such audit, including, without limitation, reasonable travel expenses.
On or before the last day of April, July, October and January during the Term, LICENSEE shall deliver to LICENSOR a written statement, in a format specified by LICENSOR from time to time, setting forth the gross and Net Shipments of LICENSEE, including any allowances and deductions, royalty rate(s), and Earned Royalty relative thereto, for the preceding calendar quarter, together with a check or wire transfer payable to LICENSOR in the amount due pursuant to Paragraph 5.
In the event actual royalties paid monthly are less than the quarterly minimums set forth above, Licensee will be responsible for the difference between actual royalties paid on Net Shipments and the cumulative Minimum Royalties due.

More Definitions of Net Shipments

Net Shipments means the invoice price charged by Licensee for Licensed Items sold and shipped by Licensee, less refunds, credits and allowances actually made or allowed to customers for returned Licensed Items. In the event that Licensee sells to a related party of Licensee, the pricing structure for said sale shall be uniform for all licensees at a reasonable discounted price, excluding at least royalties, advertising, sales commission and discounts. Sales to Hang Ten retail stores shall not be included in Net Shipments for purposes of calculating royalties.

Net Shipments is defined in Article G.P. 1) for that Contract Year for institutional advertising and promotion of the Licensed Items. (Institutional advertising and promotion shall include trade and/or consumer media such as newspapers, magazines, television and/or radio, but does not include catalogues and brochures.) Concurrently with the rendition of the annual report required by Article G.P. 4, Licensee shall submit a report certified as accurate by Licensee's Chief Financial Officer evidencing the performance of its financial obligation during the preceding Contract Year for such institutional advertising and promotion. If said annual report shows that less than the required amount was spent, the difference between the amount actually spent and the amount to be spent must be remitted to Licensor within thirty (30) days for use in the Hang Ten Advertising and Promotion Program Pool.

Net Shipments means the aggregate total of the gross dollar amount invoiced its purchasers by LICENSEE for all the Licensed Product sold under the Trademarks reduced by the amount of shipping costs, taxes, insurance, any customary trade allowances and, subject to the provisions of Paragraph 8f., returns actually credited. No deduction shall be made for commissions nor for any costs incurred in the manufacture, sale, distribution or exploitation of the Licensed Product.

Net Shipments. As used herein, the term "Net Shipments" shall mean the invoice price charged by LICENSEE for Licensed Products sold and shipped by LICENSEE less trade discounts afforded to and actually taken by customers as payment for Licensed Products. If LICENSEE sells the Licensed Products to a related marketing organization or any individual or company in whole or in part controlled or owned by LICENSEE, the invoice price used to determine Net Shipments hereunder shall be the invoice price at which the Licensed Products are resold by such related entity to an unrelated customer in an arm's length transaction.

Net Shipments means 11111111111111 111111111111111111 11111111111111 11111111111111 11111111111 11111111111 1111111111111 11111111111111 1111111111111 111111111111 111111111111111 11111111111111 11111111111111 1111111111111 111111111111 111111111111 11111111111111 1111111111111111 111111111111 1111111111111 1111111111111 1111111111 111111111111111111111 111111111111 11111111111 111111111111 11111111111 11111111111 11111111111111 111111111111111 1111111111 11111111111111 ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ 11111111111111111111111 11111111111111111111111111111111111111 1111111111111111111111111111111111 111111111111111 1111111111111111111111 11111111111 1111111111111111111111111111 11111111111111111111111111111111111111 11111111111111111111111111111111111111111 11111111111111111111111111 LICENSEE shall reconcile the actual credits and discounts given to customers against (hose estimated on a monthly basis and, for the purpose of royalty calculations hereunder, shall report quarterly only the actual amount of such credits and discounts given during the period. Under no circumstances shall LICENSEE be permitted to withhold payment of any sums due LICENSOR in anticipation of, or as a reserve against, anticipated “▇▇▇▇ down” refunds or allowances. 1111111111111 11111111111111111111111111111111111111 111111111111111111111111111111 111111111111111111111111111111111111111 111111111111111111111111111111 111111111111111111111 111111111111111111111111111 1111111111111111111111111111111111 11111111111111111111111111111111111 11111111111111111111111111111111111 11111111111111111111111 1111111111111111111111111

Net Shipments means [***] LICENSEE shall reconcile the actual credits and discounts given to customers against (hose estimated on a monthly basis and, for the purpose of royalty calculations hereunder, shall report quarterly only the actual amount of such credits and discounts given during the period. Under no circumstances shall LICENSEE be permitted to withhold payment of any sums due LICENSOR in anticipation of, or as a reserve against, anticipated “▇▇▇▇ down” refunds or allowances. [***]

Net Shipments means the invoice price charged by LICENSEE for Licensed Products sold and shipped by LICENSEE less trade discounts afforded to and actually taken by customers as payment for Licensed Products. If LICENSEE sells the Licensed Products to a related marketing organization or any individual or company in whole or in part controlled or owned by LICENSEE, the invoice price used to determine Net Shipments hereunder shall be the invoice price at which the Licensed Products are resold by such related entity to an unrelated customer in an arm's length transaction.