Qualified Revenue means, on any date, except as provided below, the sum of (a) all League Pledged Revenue Receipts for the period of four consecutive fiscal quarters of the Borrower for which financial statements have been (or were required to be) delivered pursuant to Section 5.02(c), (b) all Local Pledged Revenue Receipts for the period of four consecutive fiscal quarters of the Borrower for which financial statements have been (or were required to be) delivered pursuant to Section 5.02(c) and (c) the amount of cash deposits made by Parent and its Affiliates (other than the Borrower or any Subsidiary of the Borrower) into the Collection Account during the period of four consecutive fiscal quarters of the Borrower for which financial statements have been (or were required to be) delivered pursuant to Section 5.02(c) (the amounts set forth in clauses (b) and (c) above, collectively, “Supplemental Revenue”); provided however that if the aggregate amount of Supplemental Revenue exceeds an amount equal to 25% of the aggregate amount of Qualified Revenue for any two consecutive four fiscal quarter periods, then for each subsequent four fiscal quarter period until such time as the aggregate amount of Supplemental Revenue does not exceed an amount equal to 25% of the aggregate amount of Qualified Revenue for such four fiscal quarter period, the amount of Supplemental Revenue included in the determination of Qualified Revenue for each four fiscal quarter period shall be reduced to an amount such that it does not exceed an amount equal to 25% of Qualified Revenue for such period. Notwithstanding the foregoing, for purposes of determining Qualified Revenue for the period ended March 31, 2017, such amount shall equal the amount set forth in the previous sentence of this definition of “Qualified Revenue” for the three consecutive fiscal quarters ended March 31, 2017 multiplied by 4/3.
Qualified Revenue means actual gross revenue attributable to ATI’s Customer Agreements, as determined by GAAP, (i) excluding any revenue derived from the Company, (ii) prior to any taxes and (iii) after any credits, discounts or disputed amounts. In addition, to be considered Qualified Revenue, revenue generated from an ATI Customer Agreement must return a Gross Profit of at least fifteen percent (15%), subject to adjustment by the mutual written consent of Singer and the Company. For purposes of this Agreement, Gross Profit is net revenue calculated pursuant to GAAP, net of all direct costs including but not limited to commissions.
Qualified Revenue means, for any Contract Year, an amount equal to (i) the Purchase Price of Products ordered for shipment in such Contract Year by Distributor, plus (ii) any amounts paid by Distributor to Diamond in such Contract Year for Registration Costs and Support Costs, plus (iii) any other amounts paid or advanced by Distributor to Diamond in such Contact Year for research and development or other services not contemplated by this Agreement, as adjusted for (iv) all other adjustments to Minimum Qualified Revenue expressly as provided in this Agreement.
Examples of Qualified Revenue in a sentence
The Purchase Price will be increased by up to an additional $500,000 as follows: Within 60 days after the end of each of the first eight full fiscal quarters after the Closing (the “Transaction Quarters”), the Company will pay to the Seller in cash an amount (provided that it is a positive number) equal to 10% multiplied by Qualified Revenue for the most recent Transaction Quarter minus Qualified Revenue for the prior Transaction Quarter which had the highest Qualified Revenue.
Prior to the receipt by the Borrower of any Expansion Revenues in respect of any Expansion, the Borrower shall furnish to the Agent, on behalf of each Lender, an officer’s certificate executed by a Financial Officer setting forth reasonably detailed projections (after giving pro forma effect to such Expansion) of Qualified Revenue for the then current fiscal year (collectively, “Expansion Projections”).
Should Product remain undistributed beyond the date permitted by regulation or other government agency requirement, Diamond will accept redelivery to it at Distributor's shipping costs, with Distributor to receive credit for same at the price paid to Diamond up to a maximum cumulative credit of 1 % of the aggregate Purchase Prices of the products ordered for shipment within a Contract Year, to be included in the calculation of the Qualified Revenue Requirement in Section 1.04 (ii).
It is furthermore recognized by the parties hereto that parties will make good faith efforts to hereafter negotiate fair and equitable agreements as between them for the sale of bulk antigens to other vaccine companies which sales should be included in the Qualified Revenue requirements as set forth in Section 1.04(ii).
During the term of this Agreement Distributor shall cause the Qualified Revenues for each Contract Year to equal or exceed the following amounts (the "Minimum Qualified Revenue").
More Definitions of Qualified Revenue
Qualified Revenue means the license fee revenue received by VERITAS (net of any discounts) for Solutions Provider’s purchases of Qualified Product from source(s) authorized by VERITAS under Solutions Provider’s LSA or DSA, as applicable.
Qualified Revenue means, without duplication, (1) revenue of the Company (and not, for the avoidance of doubt, the Purchaser) generated directly from the sale of the Company’s products and services (including the sale of such products and services into the Purchaser’s existing customer base), which revenue is properly booked by the Company in accordance with GAAP applied on a basis consistent with the Company’s historical accounting practices and methodology (including treatment of installation fees) (but solely to the extent such practices and methodology are consistent with GAAP) and is calculated net of any write-offs, discounts or rebates and excluding revenue associated with any notes or accounts receivable that are past due more than 90 days or are otherwise subject to contest, claim, defense or right of setoff; (2) Commuter Revenue generated following the Closing from an exclusive customer of the Company (i.e., a customer of the Company that is using a product or service of the Company and not a commuter customer of the Purchaser, in each case determined at the time of sale); and (3) Commuter Revenue generated following the Closing from a new or renewed commuter customer of the Purchaser (i.e., a commuter customer of the Purchaser that became or renewed as a customer of the Purchaser following the Closing), if such new or renewed customer is Company-Sourced;. For purposes of clause (3) above, a customer will be deemed to be “Company-Sourced” if such customer (a) is reflected in the Purchaser’s customer relationship management software program (e.g., Salesforce) as having been first introduced to the Purchaser by a Continuing Employee or (b) is a customer of both the Purchaser and the Company prior to the Closing and a Continuing Employee, individually or together with other Continuing Employees, makes a material contribution to or provides material assistance with the renewal of such customer.
Qualified Revenue means all Net Sales Revenue derived by Purchaser from:
Qualified Revenue means, on any date, except as provided below, the sum of (a) all League Pledged Revenue Receipts for the period of four consecutive fiscal quarters of the Borrower for which financial statements have been (or were required to be) delivered pursuant to Section 5.02(c), (b) all Local Pledged Revenue Receipts for the period of four consecutive fiscal quarters of the Borrower for which financial statements have been (or were required to be) delivered pursuant to Section 5.02(c) and
Qualified Revenue means the cumulative total State revenue directly or indirectly generated as a result of the Project. A failure of Applicant to provide the information to the State required by this Section 6.5 shall result in a revocation of Applicant’s Eligibility Certificate.
Qualified Revenue for the three consecutive fiscal quarters ended March 31, 2017 multiplied by 4/3.
Qualified Revenue means service revenue, net of returns and refunds, received by the Company from each Qualified Engagement. “Qualified Engagement” means an engagement by the Company by a Qualified Customer. “Qualified Customer” means a customer: (1) that is referred to the Company for the Company’s Services by the Referrer, (2) with respect to which the Referrer notifies the Company of such referral in writing within the 90-day period immediately preceding the engagement of the Company by the Qualified Customer, (3) that is not a current or former customer of the Company, and (4) with respect to which the Company is not obligated to pay a referral fee, commission, or other compensation to anyone other than the Referrer. Referral Fees will be payable in arrears by the tenth day of the month following receipt by the Company of Qualified Revenue. However, if the Company pays Referral Fees to the Referrer with respect to Qualified Revenue that is refunded to the Qualified Customer after Referral Fees are paid, then the Referrer shall refund to the Company the amounts paid as Referral Fees in respect of the refunded Qualified Revenue. At the Company’s election, the Company may deduct such Referral Fees from the next payment of Referral Fees to the Referral under this Agreement.