Minimum Annual Payment Clause Samples
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Minimum Annual Payment. Payments by Licensee to PalmSource under the following Sections of this Exhibit D shall be subject to a Minimum Annual Payment during each Contract Year: Section II(A)(1)(a) (Licensee Products) and Section II(B)(1) (PS Product Software); Section II(B)(2) (PS Desktop Software); Section II(B)(5) (PS Q Browser Software); Section II(A)(2) (PS MultiMail Pro/SE Software) and Section II(B)(3) (Stand-alone PS MultiMail Pro/SE Software); Section II(A)(3) (PS Bluetooth Software) and Section II(B)(4) (PS Bluetooth Software), other than payment under Section II(B)(4)(a)(i); Section II(E) (PS Source Code); and Section III (Maintenance and Support Fees). The Minimum Annual Payment shall be forty million dollars ($40,000,000) for the first Contract Year, thirty-seven million, five-hundred thousand dollars ($37,500,000) for the second Contract Year, thirty-nine million dollars ($39,000,000) for the third Contract Year, forty-one million dollars ($41,000,000) for the fourth Contract Year, and forty-two million, five-hundred thousand dollars ($42,500,000) for the fifth Contract Year. If the amounts paid by Licensee to PalmSource under such enumerated Sections of this Exhibit D are less than the applicable Minimum Annual Payment during any Contract Year, then Licensee shall make a non-refundable payment to PalmSource within forty-five (45) days of the end of such Contract Year in an amount equal to the shortfall (i.e., the applicable Minimum Annual Payment less the amounts actually paid under this Agreement during such Contract Year).
Minimum Annual Payment. Commencing on the earlier of (i) December 31, 2029 or (ii) the year following the year in which NTIFA files a Certificate of Completion for the Anchor Project (both as defined in the EDA), the Anchor Property shall be subject to a minimum annual ad valorem payment (whether classified, in whole or in part, as a tax payment or an in lieu of payment) obligation in the amount of not less than the amount calculated by multiplying $290,000,000.00 (or, if individual components are not assessed, $263,000,000.00 for the arena component of the Anchor Project or $27,000,000.00 for the parking garage component of the Anchor Project, individually) by an assessment ratio of 12%, then increasing the resulting product by 1.5% for every 12 month period that has passed since NTIFA issued a Certificate of Completion for the Anchor Project, and then multiplying that resulting product by the annual ad valorem tax levy millage rate in effect within TIF 5 for that tax year (“Minimum Annual Payment”), which shall continue in effect for each year thereafter through the duration of Increment District No. 5 (“Minimum Annual Payment Period”).
Minimum Annual Payment. 13 Organic Transaction ..........................................................13
Minimum Annual Payment. For purposes of this Note, the term "Payment ---------------------- Year" shall mean a twelve-month (12-month) period beginning on the first day of the calendar month following the calendar month of this Note and ending on the last day of the twelfth (12th) calendar month thereafter, and each twelve month period thereafter. If coal shipments from the Properties during any Payment Year do not yield an aggregate sum of Monthly Payments equal to or greater than One Million Dollars ($1,000,000.00), Maker shall pay to the Shareholder, within sixty (60) days after the end of such Payment Year, a payment equal to the difference (a "Deficiency Payment") between One Million Dollars ($1,000,000.00) and the aggregate Monthly Payments that were actually paid and attributable to such Payment Year.
Minimum Annual Payment. On the fifth Business Day of each Calendar Year ---------------------- (the "Payment Date") during the term of this Agreement, commencing in 2003, Interneuron shall make to ▇▇▇▇▇▇ an annual non-refundable payment, as set forth below, for such Calendar Year (the "Minimum Annual Payment"); provided, however, that, Interneuron may credit the Minimum Annual Payment against any other payments payable to ▇▇▇▇▇▇ for that Calendar Year. The Minimum Annual Payments shall be as follows:
(1) $[*] per Calendar Year until expiration of United States Patent No. 5,284,835;
(2) an additional $[*] per Calendar Year if the Japanese patent application included in the Patent Assets is pending (and has not been abandoned), which amount shall increase to $[*] per Calendar Year if the Japanese patent application under the Patent Assets has issued as a patent in Japan; and *Confidential Treatment Requested.
(3) in the event Interneuron exercises its Exclusive Option under Section 2.2 hereof and a patent under the Patent Assets has issued in Europe, an additional $[*] per Calendar Year. For example, if: (A) as of the 2003 Payment Date, Interneuron has exercised its Exclusive Option and the patent under the Patent Assets has issued in Europe, the patent application under the Patent Assets for Japan is pending but has not issued as a patent in Japan, the Minimum Annual Payment shall be $[*]; however, if Interneuron is obligated to make for the Calendar Year ending on December 31, 2003 a payment or payments to ▇▇▇▇▇▇ under this Agreement aggregating at least $[*], the Minimum Annual Payment shall be credited against any such payments; and
Minimum Annual Payment. If applicable, within ten (10) days following each of the first, second and third anniversaries of the date hereof, WRT shall make a minimum annual payment to M▇▇▇▇▇▇▇ in an amount equal to $50,000, less the aggregate amounts paid or payable to M▇▇▇▇▇▇▇ under Sections 4(a) and 4(b) for the twelve month period ending on the applicable anniversary date.
Minimum Annual Payment. Payments by Licensee to PSI under the following Sections of this Exhibit D shall apply towards the minimum annual payment specified in this paragraph (the “Minimum Annual Payment”) during each Contract Year: Section II(A)(1)(a) (PS Product Software; Royalties on Net Revenue) and Section II(B)(1) (Royalty for Stand-alone Products; PS OS Software); Section II(B)(2) (Royalty for Stand-alone Products; Stand-alone PS Desktop Software); Section II(B)(5) (Royalty for Stand-alone Products; Stand-alone PS Q Browser Software); Section II(A)(2) (PS MultiMail Pro/SE Software) and Section II(B)(3) (Royalty for Stand-alone Products; Stand-alone PS MultiMail Pro/SE Software); Section II(A)(3) (PS Bluetooth Software) and Section II(B)(4) (Royalty for Stand-alone Products; Stand-alone PS [**] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Bluetooth Software), other than payment under Section II(B)(4)(a)(i); and Section III (Maintenance and Support Fees).
Minimum Annual Payment. The Minimum Annual Payment is nil for the calendar year in which the first contract year date begins. For each subsequent calendar year, prior to age 71 of the Annuitant (or the Annuitant's spouse or common-law partner, if elected at issue), the Minimum Annual Payment as per subsection 146.3(1) of the Income Tax Act (Canada) shall not be less than the Account Value of the Contract at the beginning of the calendar year divided by the number that is the difference between 90 and
(a) the number that is, or would be, the age in whole years of the Annuitant at the beginning of the year, or
(b) where the Annuitant so elects at issuance of this Contract, the number that is, or would be, the age in whole years of the Annuitant's spouse or common-law partner at the beginning of the year. After age 71 of the Annuitant (or ▇▇▇▇▇▇▇▇▇'s spouse or common-law partner if elected at issue) the Minimum Annual Payment shall not be less than the Account Value of the Contract at the beginning of the calendar year multiplied by the applicable factor prescribed by the Income Tax Act (Canada).
Minimum Annual Payment. No later than November 30 of each Calendar Year commencing in 2009, Licensee shall pay to Licensor a non-refundable minimum annual payment of $46,000 less any amounts previously paid pursuant to Section 5.3 or 5.4 during such Calendar Year. Each such payment shall be credited against royalties and the Buy-Out Payment, if any, for that Calendar Year.
12. The following shall be added to Article 5:
Minimum Annual Payment. No later than November 30 of each Calendar Year commencing in 2009 and continuing through 2011, Licensee shall pay to Licensor a non-refundable minimum annual payment of $40,000 less any amounts previously paid pursuant to Section 5.3 or 5.4 during such Calendar Year. No later than November 30 of each Calendar Year commencing in 2012, Licensee shall pay to Licensor a non-refundable minimum annual payment of $46,000 less any amounts previously paid pursuant to Section 5.3 or 5.4 during such Calendar Year. Each such payment shall be credited against royalties and the Buy Out Payment, if any, for that Calendar Year. Notwithstanding anything to the contrary set forth above, until such time, from and after January 1, 2012, as Licensee shall raise equity financing of at least $2 million in new cash, payment of all amounts payable pursuant to this Section 5.6 may be deferred by Licensee.