Common use of Minimum Monthly Payments Clause in Contracts

Minimum Monthly Payments. The Minimum Monthly Payments are certain minimum payments that Customer is required to make to Accuray each month regardless of the amount of revenue that Customer has generated in such month. The amount of Customer's Minimum Monthly Payment is dependent upon the amount of Customer's Down Payment. Customer agrees that the minimum monthly payment amount set forth in Section D.2.2 (Minimum Monthly Payments) above which corresponds to the value of Customer's Down Payment shall constitute the amount of Customer's Minimum Monthly Payment under this Agreement. 2.1.2.1. Starting with the first (1st) month following the Commencement Date (as defined below), in the event that the Revenue Share payment (as defined below) to be made by Customer to Accuray is not equal to or greater than the amount of Customer's Minimum Monthly Payment, Customer shall make a payment to Accuray in the amount of Customer's Minimum Monthly Payment, notwithstanding the actual amount of any fees collected by Customer with respect to such month. The Minimum Monthly Payments will be due on the third (3rd) business day of each month and shall continue for the Term of this Agreement. For the avoidance of doubt, and by way of example, if the Commencement Date is on any day of the month of May, the Minimum Monthly Payment shall commence on the third (3rd) business day of June.