Tentative Formula Price Sample Clauses

The Tentative Formula Price clause establishes a provisional pricing mechanism for goods or services based on a predetermined formula, subject to later adjustment. In practice, this means that the parties agree to use an estimated price calculated from a formula—such as market indices, input costs, or other variables—at the time of contract execution, with the understanding that the final price will be recalculated once all relevant data becomes available. This clause is particularly useful in situations where the final price cannot be determined upfront, providing both parties with a clear method for interim billing and reducing uncertainty until the actual price can be finalized.
Tentative Formula Price. With respect to each Commercial Year, one tentative Formula Price per milligram of Compound (expressed as base) shall be set in Dollars for the NOVACEA Territory (the “Tentative Formula Price”). In October of each Commercial Year, NOVACEA will notify ▇▇▇▇▇▇ ▇▇▇▇▇ in writing of the initial Tentative Formula Price for the following Commercial Year for the NOVACEA Territory. In November of each Commercial Year, NOVACEA will notify ▇▇▇▇▇▇ ▇▇▇▇▇ of the final Tentative Formula Price for the following Commercial Year. Notification of the final Tentative Formula Price will include information reasonably sufficient to enable ▇▇▇▇▇▇ ▇▇▇▇▇ to understand how the final Tentative Formula Price was calculated, including information regarding gross sales, Net Sales, expected price increases and reductions to gross sales in the NOVACEA Territory. The Tentative Formula Price so tentatively set shall be applied to all quantities of Finished Product purchased by NOVACEA from ▇▇▇▇▇▇ ▇▇▇▇▇ during the Commercial Year in question for the NOVACEA Territory. The Tentative Formula Price established pursuant to this Section 5.3.1 shall be calculated on the basis of estimated units of Finished Product to be sold by NOVACEA during the Commercial Year in question in the NOVACEA Territory, and shall be based upon and consistent with the Forecasts delivered pursuant to Section 4.1; and the Final Formula Price established pursuant to Section 5.3.2 below shall be calculated on the basis of Net Sales of Finished Product made by NOVACEA during such Commercial Year.
View Source

Related to Tentative Formula Price

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Performance Adjustment Rate Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest .01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the portfolio, the portfolio's investment performance will be based on the performance of the retail class. The performance period will commence with the first day of the first full month following the retail class's commencement of operations. During the first eleven months of the performance period for the retail class, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

  • Pricing Adjustments a. In the event an adjustment is made to the computation of the net asset value of Fund shares as reported to Insurance Company under paragraph 7, (1) the correction will be handled in a manner consistent with SEC guidelines and the Investment Company Act of 1940, as amended and (2) the Funds or Transfer Agent shall notify Insurance Company as soon as practicable after discovering the need for any such adjustment. Notification may be made in the following manner: