APPLICATION OF EARNED ROYALTIES. The Earned Royalties to be paid under Article 6 shall be applied against the Minimum Royalties due under this Article 7, and Licensee shall pay by each due date specified in this Article 7 the sum of: (i) the Minimum Royalties as specified above; plus (ii) the excess, if any, of the Earned Royalties (per Article 6) over the Minimum Royalties for the then current quarter payable by such due date (such sum hereinafter referred to as the "Royalty Payment"). CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. ASTERICKS DENOTE SUCH OMMISSIONS.
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Sources: Trademark License Agreement (Newtech Corp), Trademark License Agreement (Newtech Corp)