Adjustment of Minimum Annual Fee Sample Clauses

Adjustment of Minimum Annual Fee. Commencing on the third Operating Year of the Initial Term and for each Operating Year thereafter during the Term, the Minimum Annual Fee of Five Hundred Thousand Dollars ($500,000.00) (the “Base Amount”) will be subject to annual increases, but not decreases, as provided herein. The measure for such adjusted increases will be the Department of Labor, Bureau of Labor Statistics Consumer Price Index for all Urban Consumers (CPI-U) - U.S. City Average (the “Index”). The term “Base Index” will mean the Index for the calendar month occurring thirty (30) days prior to the month in which the commencement date of the Initial Term occurs, as such date is determined under Section 2(a) above (the “Base Month”), and the term “Adjusted Index” shall mean the Index for the calendar month occurring thirty (30) days prior to the applicable anniversary of such commencement date of the Initial Term as determined under Section 2(a) above for which the adjustment is being calculated (the “Month of Adjustment”). The procedure for making the adjustment to the Minimum Annual Fee will be to increase the Base Amount by a percentage, such percentage to be equal to the percentage increase, if any, in the Adjusted Index over the Base Index. Such increase, as so determined, shall be added to the then existing Minimum Annual Fee and such adjusted Minimum Annual Fee shall be the Minimum Annual Fee used for the ensuing Operating Year. Should publication of the Index be discontinued, then UCDP shall adopt a substitute procedure which reasonably reflects and monitors consumer prices and/or shall substitute any official index published by the Bureau of Labor Statistics or by such successor or similar governmental agency as may then be in existence and shall be, most nearly equivalent thereto as reasonably determined by UCDP. Notwithstanding anything herein to the contrary, no reduction in any amount due shall occur based on an adjustment pursuant to this Section 5(c).
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Related to Adjustment of Minimum Annual Fee

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.