Common use of Minimum Guarantee Payment Clause in Contracts

Minimum Guarantee Payment. Licensee shall pay to Licensor a non-refundable, non-recoupable sum of ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (100,000 USD) as a Minimum Royalty (hereinafter referred to as “the MG Payment”). The MG Payment shall be paid within fourteen (14) business days from the last day of every three months in four equal installments payable, including starting from the Commercial Service of the Game. In case Licensee’s applicable royalty payment to Licensor exceeds the MG payment prior to the Licensee completes the installments of the MG payment, Licensee shall be responsible to pay the royalty payments as stated in Article 5.3.