Ramp Transaction definition
Ramp Transaction means those orders where the count of Subscriptions increases from year to year during a Subscription term.
Examples of Ramp Transaction in a sentence
The selling Party will invoice the purchasing Party for each transaction on or about the start date of the license and, in the event of multi-year licenses, annually (in equal installments) in advance at the beginning of each year of the license unless the Subscription is a Ramp Transaction.
For clarity, a Ramp Transaction with an order value of $1,000,000, $2,000,000 and $3,000,000 in each of the three contract years will be billed for $1,000,000, $2,000,000 and $3,000,000 in each of the three respective years.
If an Order provides for a Ramp Transaction, the selling Party will invoice only the portion of the Order that reflects the Subscriptions that are active in the applicable annual period.