Continuing Royalty. For and in consideration of Franchisor’s execution and performance of this Agreement, Franchisee shall pay in United States Do1lars to Franchisor a Continuing Royalty equal to one percent (1%) of all Franchisee’s monthly Gross Sales as hereinafter defined. Should the annual Continuing Royalty paid to Franchisor by Franchisee under this Agreement in respect of any fiscal year of Franchisee (commencing with Franchisee’s fiscal year beginning October 1, 1987) be less than Three Hundred Thousand Dollars ($300,000.00) (“minimum Continuing Royalty”) in respect of eighty-eight (88) International House of Pancakes Restaurants operated or subfranchised by Franchisee as of December 31, 1987, (“existing units”), Franchisee will lose one (1) year of any extension of the term hereof earned by Franchisee pursuant to
Continuing Royalty. (a) In addition to the Initial Franchise Fee, commencing on the Effective Date of this Agreement, Franchisee shall pay to Franchisor a Continuing Royalty equal to percentages of certain Gross Revenues derived from the Franchised Business during Franchisee’s First and succeeding Anniversary Years, as set forth in the following schedule: SCHEDULE Greater Than To Continuing Royalty 0 $ 1,500,000 6.00% 1,500,000 2,500,000 5.25% 2,500,000 3,500,000 4.50% 3,500,000 5,000,000 3.75% 5,000,000 7,500,000 3.50% 7,500,000 15,000,000 3.35% 15,000,000 20,000,000 2.75% 20,000,000 25,000,000 2.50% 25,000,000 50,000,000 2.25% 50,000,000 l 00,000,000 2.00% 100,000,000 and greater 1.80%
Continuing Royalty. Section 5.02 is hereby deleted in its entirety and replaced with the following:
Continuing Royalty. In addition to the initial fee, during the initial ------------------ term of this Agreement, and for so long thereafter as Franchise Owner realizes Gross Receipts (as defined in Section 5.7), Franchise Owner agrees to pay to Franchisor a continuing monthly royalty fee (the "Continuing Monthly Royalty Fee") in the amount equal to nine percent (9%) of the first $1,000,000 of Gross Receipts during each calendar year, seven percent (7%) of the next $1,000,000 of Gross Receipts during each calendar year, and five percent (5%) of all Gross Receipts in excess of $2,000,000 during each calendar year. The dollar amounts subject to the 9%, 7% and 5% royalty percentage rates ("Dollar Amounts") shall be subject to annual revision as provided herein. On each January 1st, the Dollar Amounts shall be multiplied by a fraction (the "Fraction") determined as follows: The numerator shall be equal to the Consumer Price Index for all Urban Consumers, Medical Care Component ("index"), published for the preceding October by the United States Bureau of Labor Statistics. The denominator shall be the index published for the month one (1) year prior to the month used in calculating the numerator. The Dollar Amounts shall be replaced with the product resulting from multiplying each Dollar Amount by such Fraction rounded down to the nearest One Dollar ($1.00), but not less than the then-existing Dollar Amounts. All royalty payments due Franchisor during the calendar year of the adjustment shall be calculated based on the replacement Dollar Amounts. If the index is changed such that the base year differs for the two months used in determining the Fraction, the index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the index is discontinued or revised during the term of this Agreement, such other governmental index or computation with which it is replaced shall be used to obtain substantially the same result as would be obtained if the index had not been discontinued or revised.
Continuing Royalty. The term “Continuing Royalty” shall mean the continuing royalty described in subparagraph 5.02(a) hereof.
Continuing Royalty. A royalty equal to eight and one-half percent (8 1/2%) of the cash receipts from the sale or license by Xxxxxx of products or services containing the FACTOR 1000 technology, but not including any revenues derived by Xxxxxx from installation, maintenance, consulting hardware sales, or any other revenues not directly or indirectly related to the FACTOR 1000 or CTT technology. BFI shall have the right to audit Xxxxxx'x records, with adequate notice, for the purpose of verifying royalty payments. Said royalty shall be due and payable within thirty (30) days after the conclusion of each calendar quarter commencing with the quarter ending December 31, 1995.
Continuing Royalty. For the rights and privileges granted under this license, Licensee will pay to Licensor a continuing royalty of U.S. $240,000 (currently based on a USD/Euro 1.35 conversion rate), to be paid over Years 2-5 of the Agreement, at the beginning of each calendar quarter. In addition, Licensee shall pay as additional continuing royalty of three percent (3%) of the invoice price (less duties, taxes and shipping) of systems incorporating Licensor’s Cyclone equipment which are sold by Licensee to third parties (the “Equipment Royalty”), with the Equipment Royalty amount to be added as an additional, non-taxable, non-dutiable item to each system invoice. The Equipment Royalty shall be paid by Licensee to Licensor within 60 days of Licensee’s receipt of the third parties’ payment of the systems invoices. 3.3 Grant of Shares in Licensee’s Company. As an additional, one-time Royalty payment, Licensor shall transfer to Licensee 400,000 shares of Licensee’s restricted common stock (STW Resources Holding Corp - OTC “STWS”). 3.4 Royalties, fees, cost. All Royalties fees, cost and other monetary expressions in this agreement are all stated not including VAT or other taxes or import taxes and duties, are exclusive of cost for travel and lodging for personnel and are EXWORKS according to Incoterms 2010 for goods. All monetary amounts in these agreement are in US$, based on US$/Euro exchange rate of 1.35 (1.35 US$/1 Euro) and will be adjusted to actual exchange rate every calendar year per July 1st based on the Euro 3-months average exchange rate. 3.5
Continuing Royalty. As a continuing royalty, You agree to pay to CLF 5% of Your weekly Gross Receipts (which is defined below). This royalty is based on Your Gross Receipts for the week ending Sunday, which You agree to pay on or before the following Friday. CLF shall, at a future date, collect Your royalty payments by automatic funds transfer. You agree to participate in the automatic funds transfer program. Your obligation to pay this Continuing Royalty is Your acknowledged compensation to CLF for the use of the CLF Trademarks and System in the operation of Your Business, and for the on-going support and services furnished by CLF.
Continuing Royalty. Franchisee shall pay to Company each month during the Term, an amount equal to 5% of its Gross Sales during the preceding month (the “Continuing Royalty”). Franchisee shall cause its Continuing Royalty for each month to be actually received by Company on or before the 10th day of the following month; provided, however, that Franchisee at its election may alternatively adopt a periodic payment cycle that matches Company's fiscal accounting cycle (presently thirteen (13) four (4) week fiscal periods per fiscal year). In that event, Franchisee shall notify Company of such election in writing and thereafter cause its Continuing Royalty for each four (4) week fiscal period (“fiscal period”) to be actually received by Company on or before the 10th day following the end of the fiscal period.
Continuing Royalty. All fees under Section 5.1 of this License Schedule shall be treated as non-refundable, prepaid royalties for purposes of calculating continuing royalties (“Continuing Royalty”). Except as provided in the preceding sentence, Licensee shall pay Licensor, during the years, 2004, 2005 and 2006, Continuing Royalty as follows:”
