Annual Yearly Value Clause Samples

Annual Yearly Value. (a) Client agrees to purchase from Patheon, each Year during the Term of this Agreement, Services costing, in total, the lesser of (i) [**] Euros, per Year; or (ii) the price to be paid for [**] batches during such Year if less than [**] Euros (the “Binding Yearly Value” or “BYV”). Client’s purchases from Patheon during 2015 prior to execution of this Agreement (and/or prior to the Effective Date of the Agreement) shall not count towards the Binding Yearly Value purchase commitment for the first Year during the Term with the exception of the cGMP batches scheduled for manufacture during May / June 2015 (which shall count towards the Binding Yearly Value purchase commitment for the first Year during the Term). Purchases for additional services from Patheon to Client or an Affiliate of Client, pursuant to a change of scope agreement, shall also count towards the Binding Yearly Value provided that any such purchases occur subsequent to execution of this Agreement. (b) Patheon agrees to accept purchase orders from Client up to the maximum of [**] batches of Product per Year. Patheon agrees to make commercially reasonable efforts to accept purchase orders received from Client for volumes of Product in excess of [**] batches of Product per Year, provided however, that the parties acknowledge that manufacturing dates in respect of such purchase orders must be mutually agreed upon by the parties and subject to the provisions below of this Section 3(b).
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Related to Annual Yearly Value

  • Vacation Earnings for Partial Years ‌ (a) During the first partial year of service a new employee will earn vacation at the rate of one and one-quarter days for each month for which they earn 10 days' pay. (b) During the first and subsequent vacation years an employee will earn one-twelfth of the annual entitlement for each month in which the employee has received at least 10 days' pay at straight-time rates. Where an employee has taken more vacation than earned, the unearned portion taken shall be charged against future earned credits or recovered upon termination whichever occurs first.

  • Annual Base Rent Section 5.1 Effective as of the Effective Date, the first sentence of Section 5.1 of the Lease shall be deemed modified and restated in its entirety as follows: "During the Initial Term Tenant agrees to pay to Landlord annual base rent for the Premises (the "ANNUAL BASE RENT") at the rate of Three Million Eight Hundred Thousand and 00/100 Dollars ($3,800,000.00) per annum (the "INITIAL ANNUAL BASE RENT AMOUNT"). Notwithstanding the foregoing, provided that Tenant is not then in default under this Lease beyond any applicable period set forth in this Lease within which the default may be cured, Tenant shall be entitled to an aggregate credit of $1,000,000 to be applied in twelve (12) equal monthly installments of $83,333.33 against the monthly installments of Annual Base Rent due hereunder for the second through thirteenth calendar months of the Initial Term (the "FREE RENT PERIOD"); it being further agreed, however, that if Tenant is in default under this Lease beyond any applicable cure period, then (a) any credit not given Tenant during the period of such default shall only be suspended and shall be given to Tenant, and carried forward if not capable of immediately being used in its entirety until capable of being so used in its entirety, upon any subsequent cure by Tenant of such default and any other then existing default(s) by Tenant under this Lease, and (b) Tenant shall further be entitled to all monthly installments of such credit otherwise to be applied, pursuant to the terms hereof, after such subsequent cure(s). Notwithstanding anything to the contrary in this Lease, if there shall be Net Distributable Cash for the Free Rent Period, but calculated for this purpose only without reference to any additional rent payable pursuant to this sentence, then Tenant shall pay an amount (such amount, the "FREE RENT MAKE-UP") equal to the lesser of (1) the amount of the $1,000,000 credit set forth above actually applied against Annual Base Rent as provided above, whether such application against Annual Base Rent was made during the Free Rent Period or subsequent thereto (i.e., if any portion of such credit is so applied after the Free Rent Period pursuant to either or both of the preceding clauses (a) and (b)) or (2)

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • 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.

  • Annual Fixed Rent Tenant covenants and agrees to pay the Annual Fixed Rent in Section 1.1 to Landlord in advance in equal monthly installments commencing on the Term Commencement Date (if not the first day of a month) and thereafter on the first day of each calendar month during the Term. All payments shall be due without billing or demand and without deduction, setoff or counterclaim, except as expressly set forth in this Lease. Tenant shall make payment for any portion of a month at the beginning or end of the Term. All payments shall be payable to Landlord at Landlord’s address, as specified in Section 1.1, or to such other entities at such other places as Landlord may from time to time designate. Without limiting the foregoing, except as expressly set forth in this Lease, Tenant’s obligation so to pay Rent (as hereinafter defined) shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence; and, except as expressly set forth in this Lease, Tenant waives all rights now or hereafter existing to terminate or cancel this Lease or quit or surrender the Premises or any part thereof, or to assert any defense in the nature of constructive eviction to any action seeking to recover Rent. The foregoing notwithstanding, if Landlord fails for any reason within Landlord’s control to provide any service to be supplied by Landlord under the Lease which is necessary for Tenant’s reasonable use of the Premises (such as HVAC, elevator service, electricity, water, or structural repairs), and Tenant is unable to use the Premises on account of such failure, Tenant shall be entitled to a proportional abatement of Annual Fixed Rent and Additional Charges for Operating Expenses and Taxes based on the portion of the Premises which cannot be used by Tenant. This abatement shall begin on the fourth (4th) consecutive Business Day from Tenant’s written notice to Landlord of the failure. The abatement shall end when the services are restored sufficiently to permit use of the Premises.