The calculation for Travel ticket budget (for Employee, spouse) is based on round trip business—class to home country operated by an A rated airline operator. The total amount of AED 38,000 will be added and paid with the monthly gross salary in even amounts divided over 12 months, each year of the duration of the contract. The total annual amount will be reviewed yearly, with the tendency for increment, based on UAE official inflation corrections. The travel budget can be spend for travelling, as discussed between both parties, at the preference of the Employee.
Foreign Currency Transactions. A fund that invests in securities denominated in foreign currencies may enter into forward foreign currency exchange contracts. A forward foreign currency exchange contract, which involves an obligation to purchase or sell a specific currency at a future date at a price set at the time of the contract, reduces a funds exposure to changes in the value of the currency it will deliver and increases its exposure to changes in the value of the currency it will receive for the duration of the contract. Certain foreign currency transactions may also be settled in cash rather than the actual delivery of the relevant currency. A contract to sell a foreign currency would limit any potential gain that might be realized if the value of the hedged currency increases. Suitable hedging transactions may not be available in all circumstances, may not be successful, and may eliminate any chance for the fund to benefit from favorable fluctuations in relevant foreign currencies.
2.10.The Concessionaire is obliged to pay to the Union, by making a deposit in FNAC, the annual installment of the Fixed Contribution and the Variable Contribution, according to the values, percentages and conditions stated below. 2.11.The payment of the first installment of the Fixed Contribution will take place at the end of the 12th month of the contract from the Date of Efficacy of the Contract, and subsequent installments paid every 12 (twelve) months. 2.12.The Civil Aviation Secretary of the Presidency of Republic will indicate the procedure to be observed to the effectiveness of the payment of the Fixed ad Variable Contributions. 2.13.The Fixed Contribution corresponds to the annual amount of R$ 180.045.300,00 (a hundred and eighty millions, forty five thousands and three hundred reais), as a result of the offer given in the Auction object of the present Concession. 2.13.1.The annual amount of the Fixed Contribution corresponds to ratio of the value of the Fixed Contribution by the duration of the contract. 2.14.The payment of the Variable Contribution will take place in the moment of the presentation of the Financial Statements stated in item 220.127.116.11. 2.15.The Variable Contribution corresponds to the annual amount in R$ (reais) as a result of the application of the rate of 2% (two per cent) on top of the total Gross Revenue of the Concessionaire and its additional wholly owner subsidiaries.
We determined that the transaction price of the 2016 BMS and Pfizer Agreement was $12.3 million as of June 30, 2018 which includes routine updates for estimated costs that BMS and Pfizer will incur in developing Andexxa in Japan and are eligible to be billed to us. In determining the transaction price, we evaluated all the payments to be received during the duration of the contract. As of June 30, 2018, the transaction price includes, $15.0 million of upfront payment, $5.0 million for acceptance of the Japan New Drug Application (“JNDA”) in Japan, as management expects it to be probable of achievement, $3.1 million of estimated variable consideration for cost-sharing payments from BMS and Pfizer for agreed upon research and development services for clinical trials outside of Japan, and $0.2 million for the estimated costs of Andexxa clinical supplies to BMS and Pfizer for Andexxa Phase 4 expansion clinical trial in Japan. Our transaction price is reduced by $11.0 million for estimated payments to be made to BMS and Pfizer for costs they will incur in developing Andexxa in Japan. Regulatory approval milestones were fully constrained and therefore are not included in the transaction price, as the receipts of such milestones are outside of our control. In determining whether to constrain other milestones, we considered numerous factors, including whether receipt of the milestones is within our control, contingent upon success in future clinical trials and/or the licensee’s efforts. Any consideration related to sales-based milestones (including royalties) will be recognized when the related sales occur as they were determined to relate predominantly to the license granted to BMS and Pfizer and therefore have also been excluded from the transaction price. We will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur.
We determined that the transaction price of the 2014 Bayer and Janssen Agreement was $25.0 million as of June 30, 2018. In order to determine the transaction price, we evaluated all the payments to be received during the duration of the contract. As of June 30, 2018, the transaction price includes, $10.0 million of upfront payment, $13.0 million in milestones that have already been achieved and a $2.0 million milestone that we deem probable of achievement following the Committee for Medicinal Products for Human Use positive trend vote and subsequent discussions with the EMA during the six months ended June 30, 2018. There is no further consideration eligible to be included in the transaction price.
14.1DURATION OF THE CONTRACT. The Contract comes into force on the date that it is signed by the both (2) Parties. The Contract shall remain in force until the last purchase order has expired or the cancellation of this last, current purchase order, unless expressly otherwise agreed by the Parties.
or expropriate the land, in accordance with the applicable regulations, if the occupation is long-lasting or makes it henceforth impossible to resume the original use of the land.The rights are acquired and recorded by the Government in the latter’s name but the Contractor is entitled to free use thereof for the Petroleum Operations for the entire duration of the Contract.The costs, expenses and indemnities resulting from the expropriation procedure will be borne by the Contractor.