Examples of Minimum Quarterly Payment in a sentence
The Minimum Quarterly Payment to be paid by the CBOT in respect of WGE is (A) for each OYP during the Initial Term, [**] and (B) for each OYP during a Renewal Term, the greater of (x) the Minimum Quarterly Payment during the Initial Term and (y) such amount to be agreed upon by LIFFE and the CBOT, which amount shall be approximately commensurate to [**] of the Hosting Fees payable by the CBOT with respect to WCE during the OYP immediately prior to the commencement of the applicable Renewal Term.
Depomed shall have the right to draw upon the Letter of Credit, up to the Maximum Stated Value, in the event that there is a shortfall in the Minimum Quarterly Payment made to Depomed by Collegium pursuant to Section 7.3(a) hereof, solely to the extent of such quarterly shortfall as determined in good faith by Depomed (a “Quarterly Shortfall”), provided that Collegium does not pay the amount of such Quarterly Shortfall to Depomed within forty-five (45) days after the last day of such calendar quarter.
Such reduction in the first Minimum Quarterly Amount, if any, shall be applied to all other provisions in this Agreement applicable to the first Minimum Quarterly Payment, including for purposes of determining whether there was any Quarterly Shortfall with respect to such calendar quarter pursuant to Section 7.7(a)(i).
No change in the amount of the Minimum Quarterly Payment for the 4th Quarter 2002.
For the first quarter that the Quarterly License Fee is less than Seven Thousand Five Hundred Dollars ($7,500), the Minimum Quarterly Payment shall be Seven Thousand Five Hundred Dollars ($7,500).