MINIMUM ANNUAL REVENUE REQUIREMENT. Each Minimum Annual Revenue Requirement shall consist of four (4) payments of eighty thousand dollars ($80,000) each. Each quarterly payment shall be referred to as a "Quarterly Payment". Each such Quarterly Payment shall be due on the last day of each Quarter ("Preferred Status Quarter") and is payable within forty-five (45) days after the end of each Preferred Status Quarter. Royalties accrued in each Preferred Status Quarter as provided in the
Appears in 2 contracts
Sources: Technology Product Development Agreement (Immersion Corp), Technology Product Development Agreement (Immersion Corp)