Examples of Royalty Percentage in a sentence
To compute the Net Smelter Return Royalty, the Grantor shall multiply the Net Revenue (shown as positive balance on the Royalty Account) by the Royalty Percentage in each case for the immediately preceding calendar quarter.
If the Parties cannot timely reach agreement on an alternate solution, the External Royalty Percentage will be reduced by [*] basis points (beginning in the calendar month in which Bank sends the notice referenced above) for a maximum of [*] calendar months or until the Bank Profits Percentage equals or exceeds [*]% on a rolling three-month basis.
If the Bank Profits Percentage does not equal or exceed [*]% after the [*] calendar month, the External Royalty Percentage will be further reduced by up to [*] basis points until the end of the calendar month in which the Bank Profits Percentage again equals or exceeds [*]% on a rolling three-month basis.
If the External Royalty Percentage is reduced at any time in accordance with this Section 9.01(b), then the excess of (i) the External Royalty Payment that would have been payable to Costco had such adjustment to the External Royalty Percentage not been made, minus (ii) the External Royalty Payment actually paid to Costco and reflecting such adjustment will constitute a “Royalty Recovery Amount.” Costco shall be eligible for payment from Bank of such Royalty Recovery Amount in accordance with Section 9.03.
The Company may extinguish 50% of the Royalty Percentage by paying $750,000 to Grenville during the period from November 12, 2017 to November 17, 2017 (the “Initial Repurchase Right”).