Minimum Floor Sample Clauses

A Minimum Floor clause sets a baseline or lowest acceptable value for a particular variable or payment in a contract, ensuring that it does not fall below a specified amount. For example, in a loan agreement, this clause might guarantee that the interest rate charged will never drop below a certain percentage, regardless of market fluctuations. The core function of this clause is to protect one party—typically the lender or service provider—from receiving less than a predetermined minimum, thereby providing financial certainty and mitigating the risk of unfavorable market changes.
Minimum Floor. Notwithstanding the formula set forth above, no MSUs will be eligible for vesting if “C” equals less than 50% of “B”.
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Minimum Floor. In no event will the Net Sales of a given Licensed Product in a country used to calculate (a) Royalties due and payable by Sarepta to Arrowhead under Section 8.4 (Royalties) in a given Calendar Quarter for such Licensed Product in such country be reduced to less than [***]% of the Net Sales of such Licensed Product in such country in such Calendar Quarter as a result of the aggregate reductions permitted pursuant to Section ‎8.5.1 (Reduction for No Valid Claim), Section ‎‎‎‎8.5.2 (Reduction for Generic Competition), Section 8.5.3 (Third Party Payments), [***].
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Minimum Floor. In no event will the royalty rate pursuant to Section 7.6 be reduced in any given Calendar Quarter to less than [***] percent ([***]%) on Net Sales of such Licensed Product (“Cumulative Reductions Floor”).
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Minimum Floor. In no event will the Supply Transfer Price or, if applicable, the royalties payable to C▇▇▇▇▇ under Section 8.4.2 be reduced in any given Calendar Quarter by more than [*] percent ([*]%) of the amount that otherwise would have been due and payable to C▇▇▇▇▇ in such Calendar Quarter but for the reductions set forth in Sections 8.6.2, 8.6.3 and 8.6.4, and in no event will the Supply Transfer Price (whether during or after the Royalty Term) be reduced to below the Manufacturing Price. Licensee may not carry over any reductions that are not applied against the royalties payable to C▇▇▇▇▇ as a result of the foregoing floor.
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Minimum Floor. In no event will the Supply Transfer Price or, if applicable, the royalties payable to CymaBay under Section 8.4.3, be reduced for any particular amount owed by more than [***] of the amount that otherwise would have been due and payable to CymaBay but for the reductions set forth in Sections 8.5.2 and 8.5.3, and further, in no event will the Supply Transfer Price (whether during or after the Royalty Term) be reduced to the amount that is less than [***]. Kaken may not carry forward any reductions or credits that are not applied against the amounts payable to ▇▇▇▇▇▇▇ hereunder as a result of the foregoing floor.
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Minimum Floor. Notwithstanding any provision to the contrary set forth in the foregoing Section 6.4.5(a), Section 6.4.5(c) and Section 6.4.5(d), the operation of Section 6.4.5(a), Section 6.4.5(c) or Section 6.4.5(d), individually or in combination (but without taking into account any reductions pursuant to Section 6.4.5(b) or Section 13.8, as applicable) shall not result in the amount of royalties payable to Arrowhead hereunder with respect to Net Sales of a given Licensed Product in a given country in a given Calendar Quarter being reduced by more than [***] of the amount of royalties that would otherwise be payable pursuant to Section 6.4.2 or Section 6.4.3, as applicable, with respect to Net Sales of such Licensed Product in such country for such Calendar Quarter [***].
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Minimum Floor. Notwithstanding any provision to the contrary set forth in the foregoing Sections ‎8.6(d)(i), ‎8.6(d)(ii) and ‎8.6(d)(iii) with respect to any Licensed Product in any Calendar Quarter, the operation of Sections ‎8.6(d)(i), ‎8.6(d)(ii) and ‎8.6(d)(iii) above, individually or in combination, shall not reduce the royalty payments owed pursuant to Section ‎8.6(a) or Section ‎8.6(b), as applicable, to an amount less than [***] percent ([***]%) of the royalty payments that would otherwise have been due under Section ‎8.6(a) or Section ‎8.6(b), as applicable, with respect to Net Sales of such Licensed Product in the applicable country(ies) during such Calendar Quarter. Takeda shall have the right to carry forward on a country-by-country basis over the [***] any amounts that it was not able to credit on account of the royalty floor set forth in this Section ‎8.6(d)(iv) towards any royalty payments owed in each such Calendar Quarter.
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Minimum Floor. In no event will any reductions under Section 2.09(b)(i), Section 2.09(b)(ii) and Section 2.09(b)(iii) for any Product in any given Calendar Quarter during the Royalty Term reduce (x) the royalty rate during such period to an amount that is less than the applicable royalty rate floor set forth in the table included in Section 2.09(a), or (y) the Royalty Payments due by Purchaser by more than [***] of the amount that otherwise would have been due and payable to Seller in such Calendar Quarter for such Product but for the reductions set forth in Section 2.09(b)(i), Section 2.09(b)(ii) and Section 2.09(b)(iii).
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Related to Minimum Floor

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5. The Minimum Monthly Rent shall be increased as set forth in Section 1.5 and/or elsewhere in this Lease. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, and before the Commencement Date, Tenant shall pay to Landlord the aggregate of the first month’s Minimum Monthly Rent, the first month’s Monthly Impound Payment (see Section 4.4), and the Security Deposit (see Section 5).

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Minimum Balance ▇▇▇▇▇▇▇▇ agrees to maintain a minimum balance of funds in the Settlement Account as Processor may specify to Merchant in writing from time to time.

  • Royalty Floor Notwithstanding the foregoing, during any Calendar Quarter in the Royalty Term for a Licensed Product in a particular region in the Territory, the operation of Section 9.3(c), individually or in combination shall not reduce the final royalty rate to [***].

  • 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.