![]() " Obligations" shall have the meaning set forth in Section 5(b). ![]() Net Invoice Value means, as to any Receivable, the amount shown on the original invoice therefore as being payable in cash by the customer owing the same, net of all commissions, discounts (other than prompt payment discounts), allowances, and credits granted by Seller or claimed by the Account Debtor. ![]() The Borrowing Base shall be reduced by an amount equal to (A) the Net Invoice Value of any (i) Receivable which is outstanding for ninety (90) days, (ii) Receivable for which there is a Dispute with the Account Debtor, regardless of validity, or (iii) Receivable which AEG charges back to Seller for any other reason under this Agreement, and (B) any other amount which AEG may charge back to Seller to reduce the Purchase Price due with respect to any Receivable Pool. The meeting considered whether it should recommend revitalising PE in schools. ![]() Subject to of Article 7 hereof, Licensee shall pay to Licensor for the rights granted hereunder a sum equal to one and of the Net Invoice Value of Trademarked Products Sold by Licensee (the "Royalties"). Examples of Net Invoice Value in a sentenceĪs used throughout this Agreement, the term " Net Invoice Value" shall mean the aggregate of the invoiced amounts of Trademarked Product sold by Licensee, less (a) returned goods, refunds, credits and allowances actually made or allowed to customer with respect to Trademarked Product, (b) freight or handling charges charged to customers or incurred on returned goods, and (c) sales and excise taxes actually paid ("NIV").Īs used throughout this Agreement, the term " Net Invoice Value" shall mean the aggregate of the invoiced amounts of Trademarked Product sold by Licensee, less (a) resumed goods, refunds, credits and allowances actually made or allowed to customer with respect to Trademarked Product, (b) freight or handling charges charged to customers or incurred on resumed goods, and (c) sales and excise taxes actually paid ("NIV"). ![]()
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