Common use of Minimum Royalties Clause in Contracts

Minimum Royalties. Beginning on the third (3rd) anniversary of the Effective Date, Licensee shall pay CSMC a minimum royalty of $10,000 per year (“Minimum Royalty”). Each annual payment of the Minimum Royalty shall be credited against Royalties payable such that no Royalties shall be payable unless the Royalties for such annual period exceed $10,000; provided, that excess amounts paid in respect of the Minimum Royalty may not be carried over to the following calendar year.

Minimum Royalties. Beginning on the third (3rd) anniversary of the Effective Date, Licensee shall pay CSMC a minimum royalty of $10,000 per year (“Minimum Royalty”). Each annual payment of the Minimum Royalty shall be credited against Royalties payable such that no Royalties shall be payable unless the Royalties for such annual period exceed $10,000; ’, provided, that excess amounts paid in respect of the Minimum Royalty may not be carried over to the following calendar year.

Minimum Royalties. Beginning Licensee shall pay to CSMC an annual minimum royalty payment (“Minimum Royalty”) of $10,000 per year beginning on the third (3rd) anniversary of the Effective Date, Licensee shall pay CSMC a minimum royalty Date and on each anniversary of $10,000 per year (“Minimum Royalty”)the Effective Date thereafter. Each annual payment of the Minimum Royalty shall be credited against Royalties payable such that no Royalties shall be payable unless the Royalties for such annual period exceed $10,000; provided, that excess amounts paid in respect of the Minimum Royalty may not be carried over to the following calendar year. Licensee’s failure to pay the Minimum Royalty payment to CSMC shall constitute a material breach of this Agreement by Licensee.