Percentage Royalty definition

Percentage Royalty shall have the meaning set forth in Section 7.1 hereof.

Percentage Royalty means, in respect of each Contract Year, the amount equal to four percent (4%) of the Net Sales Price, and, in case the Net Sales Price in a Contract Year exceeds one and billion US Dollars, three point five percent (3.5%) of the excess part of Net Sales Price.

Percentage Royalty means an amount equal to four percent (4%) of Adjusted Gross Sales collected per Year on a per Restaurant basis.

Examples of Percentage Royalty in a sentence

• In consideration of the rights and licenses granted under this Agreement, Licensee shall pay to Licensor for each Contract Year the greater of the Minimum Royalty set opposite the column of such Contract Year in Exhibit A to this Agreement or the Percentage Royalty accrued for such Contract Year.

• In the event that the total amount of Percentage Royalty accrued for a particular Contract Year exceeds the amount of Minimum Royalty for such Contract Year, such excess amount shall be paid within forty-five (45) days following the end of such Contract Year.

• For the purpose of the computation of the royalty hereunder in respect of each Contract Year, the Net Sales Price shall be converted into US Dollars using the spot rate for the purchase of US Dollars with Korean won quoted at 11:00 A.M. on the last business day of the Contract Year, and the Percentage Royalty for the Contract Year shall accrue on the Korean won amount of the Net Sales Price.

• Minimum Royalty and Percentage Royalty shall be payable in accordance with Sections 6.2 and 6.3 below.

• Such royalty statement shall set forth the quantity of each item of the Licensed Products manufactured and sold during a given Contract Year, the Net Sales Price of the Licensed Products sold during the Contract Year, together with the Percentage Royalty, if any, payable to Licensor for the Contract Year and each sum of deductions and returns of Licensed Products.

More Definitions of Percentage Royalty

Percentage Royalty shall have the definition given that term in Paragraph 5.3.

Percentage Royalty means a royalty equal to fifteen percent of Net Sale of Licensed Devises during each Contract Year by Licensee.

Percentage Royalty means the following percentage, dependent on the period in which such purchases are made. Percentage Royalty June 1, 2000 to December 31, 2002 10 January 1, 2002 to December 31, 2003 12 January 1, 2003 to December 31, 2004 14 January 1, 2004 to December 31, 2005 16

Percentage Royalty shall have the definition given that term in PARAGRAPH 4.2. 1.8 "TERRITORY" shall mean the United States of America, Canada and Bermuda. 1.9 "TRADEMARK" means "American Rag CIE" including the correspondent U.S. trademark registration numbers and trademark applications listed in EXHIBIT A attached hereto and incorporated herein, and any Canada and Bermuda common law trademark rights or future registrations, if any, in each case exclusively licensed by SUBLICENSOR, as well as the right to utilize derivations of "American Rag CIE" under the Master License. 2 <PAGE> 2. GRANT OF SUBLICENSE 2.1

Percentage Royalty means the following percentage, dependent on the period in which such purchases are made.

Percentage Royalty shall have the definition given that term in PARAGRAPH 4.2.

Percentage Royalty shall have the meaning assigned to it in Section 6(a).