Payment Base definition
Examples of Payment Base in a sentence
For the avoidance of doubt, if the sum of the Parties’ respective Party Product Economics Amounts exceeds the Net Payment Base for any Applicable Month, each Party’s Party Product Economics Amount will be adjusted such that the Collaboration Payment due to Coinbase will reflect Coinbase’s pro rata share of the Net Payment Base based on each Party’s Party Product Percentage.
By way of example only, if the Net Payment Base equals [*], and Coinbase and Circle each have Party Product Economics Amounts of [*] and [*] respectively, the Collaboration Payment due to Coinbase for such day will include a Party Product Economics Amount adjusted to [*], and Circle shall be entitled to retain its Party Product Economics Amount as adjusted to [*].
For the avoidance of doubt, if the Gross Payment Base for any Applicable Stablecoin in any Applicable Month is not sufficient to fund the full Issuer Retention for such Applicable Month, the shortfall with respect to the Issuer Retention shall not accrue, and the Issuer Party shall not be entitled to carry forward to the next Applicable Month such shortfall nor add such shortfall for such Applicable Month to the Issuer Retention for the next Applicable Month.
For the avoidance of doubt, if the sum of the Parties’ respective Party Product Economics Amounts exceeds the Net Royalty Payment Base for any Applicable Month, each Party’s Party Product Economics amount will be adjusted such that the Royalty due to Coinbase will reflect Coinbase’s pro rata share of the Net Royalty Payment Base based on each Party’s Party Product Percentage.
Any payments to such Ecosystem Participant will reduce the Payment Base in calculating the Residual Payment Base for the relevant Applicable Stablecoin in the priority mutually agreed in writing by the Parties.
By way of example only, if the Net Royalty Payment Base equals [*], and Coinbase and Circle each have Party Product Economics Amounts of [*] and [*], respectively, the Royalty payment due to Coinbase for such day will include a Party Product Economics Amount adjusted to [*] [*] divided by [*], the sum of [*] and [*], equals approximately [*]), and Circle’s Daily Party Product Economics Amount for such day would be equal to [*] [*] divided by [*] equals approximately [*]).
For the avoidance of doubt, if the Gross Royalty Payment Base for any Licensed Stablecoin in any Applicable Month is not sufficient to fund the full Retention for such Applicable Month, the shortfall with respect to the Retention shall not accrue, and Circle shall not be entitled to carry forward to the next Applicable Month such shortfall nor add such shortfall for such Applicable Month to the Retention for the next Applicable Month.
Each Party’s “Daily Party Product Economics Amount” for a given Licensed Stablecoin and for a given day is calculated by multiplying the Daily Payment Base for such Licensed Stablecoin by such Party’s Party Product Percentage for such Licensed Stablecoin for that day.
The “Daily Party Product Economics Amount” for a given Applicable Stablecoin and for a given day is calculated by multiplying the Daily Payment Base for such Applicable Stablecoin by such Party’s Party Product Percentage for such Applicable Stablecoin for that day.
Any payments to such Ecosystem Participant will reduce the Royalty Payment Base in calculating the Residual Royalty Payment Base for the relevant Licensed Stablecoin in the priority mutually agreed in writing by the Parties.