Common use of Accounting for Payments Clause in Contracts

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half percent (1.5%) per month or the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment. 4.5.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 6 contracts

Samples: Standard Exclusive License Agreement (ViewRay, Inc.), Standard Exclusive License Agreement (ViewRay, Inc.), Standard Exclusive License Agreement (ViewRay, Inc.)

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Accounting for Payments. 4.5.1 4.4.1 Amounts owing to UFRF under Sections 2.2 and 4.3 4.2 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any All amounts owing to UFRF pursuant to this agreement which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half percent (1.5%a) [...***...] per month or (b) the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14.4.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.4.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation — Value of Foreign Currencies on the day preceding the payment. 4.5.3 4.4.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.4.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 4 contracts

Samples: Standard Exclusive License Agreement (Myriant Corp), Standard Exclusive License Agreement (Myriant Corp), Standard Exclusive License Agreement (Myriant Corp)

Accounting for Payments. 4.5.1 4.4.1 Amounts owing to UFRF under Sections 2.2 and 4.3 4.2 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any All amounts owing to UFRF pursuant to this agreement which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half percent (1.5%a) [...***...] per month or (b) the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.1, 4.4.1. Section 6.2 7.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.4.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following Following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated slated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation — Value of Foreign Currencies on the day preceding the payment. 4.5.3 4.4.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4.2 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of or Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.4.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be he made without deduction for taxes, assessments, assessments or other charges of any kind which may be he imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 2 contracts

Samples: Standard Exclusive License Agreement (Myriant Corp), Standard Exclusive License Agreement (Myriant Corp)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half [***] percent (1.5[***]%) per month or the maximum amount allowed under applicable law[***]. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect [***] overdue payments due from this Section 4.5.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment. 4.5.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 2 contracts

Samples: Standard Exclusive License Agreement, Standard Exclusive License Agreement (Viewray Inc)

Accounting for Payments. 4.5.1 Amounts owing to UFRF Licensor under Sections 2.2 and Section 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties minimum royalties paid is exceeded, with such amounts due and received by UFRF Licensor on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation - Value of any Foreign Currencies on the day preceding the payment due date. 4.5.2 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF Licensor shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) % per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF Licensor of any attorney, collection agency, or other out-of-pocket UFRF Licensor expenses required to collect overdue payments due from under this Section 4.5.1, Section 6.2 4 or any other applicable section Section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.5.3 Except as otherwise directed, all amounts owing to UFRF Licensor under this Agreement shall be paid in U.S. dollars to UFRF Licensor at the following address: University of Florida USF Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 AttentionFoundation Attn: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment3000 Xxxxxxxx Xxxx, Xxxxx 000 Xxxxx, Xxxxxxx 00000. 4.5.3 4.5.4 A certified full accounting statement showing how any amounts payable to UFRF Licensor under Section 4.3 4 have been calculated shall be submitted to UFRF Licensor on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF Licensor pursuant to this Agreement. Such For earned royalties, such accounting shall be on a per-per- country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C – Licensor Royalty Report of this Agreement. In For earned royalties, in the event no payment is owed to UFRF Licensor because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRFLicensor. 4.5.4 UFRF 4.5.5 Licensor is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF Licensor by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF Licensor pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 2 contracts

Samples: Standard Exclusive License Agreement (Alzamend Neuro, Inc.), Standard Exclusive License Agreement (Alzamend Neuro, Inc.)

Accounting for Payments. 4.5.1 (i) Amounts owing to UFRF the University under Sections 2.2 and 4.3 this Section 3 shall be paid on a quarterly basis after commencing with the amount calendar quarter in which the first commercial sale of Minimum Royalties paid any Licensed Product is exceededmade, with such amounts due and received by UFRF payable to the University on or before the thirtieth forty-fifth (45th) day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF the University shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) % per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee The Company shall also be responsible for repayment to UFRF the University of any attorney, collection agency, or other out-of-pocket UFRF University expenses required to collect overdue payments due from this Section 4.5.1Section, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 (ii) Except as otherwise directed, all amounts owing to UFRF the University under this Agreement shall be paid in U.S. dollars to UFRF the University at the following address: Lxx X. Xxxxxxx, Director Office of Technology Transfer Cxxxxxxxx University of Florida Research Foundation600 Xxxxx 00xx Xxxxxx Xxxxx 0000 Xxxxx, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager XX 00000 (iii) All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation — Value of Foreign Currencies on the last day preceding of the paymentrelevant calendar quarter. 4.5.3 (iv) A certified full accounting statement showing how any amounts payable to UFRF the University under this Section 4.3 have been calculated calculated, including a description of any offsets or credits deducted therefrom, shall be submitted to UFRF the University on the date of each such payment. In addition Such accounting statements shall also contain the total number of Licensed Products transferred by the Company, by each Affiliate, and by each sublicense, with country-by-country breakdowns, during the relevant calendar quarter; the revenue due to being certifiedthe Company for each of the aforementioned transfers; and the number of Licensed Products distributed during the relevant calendar quarter by the Company, such by each Affiliate, and by each sublicense free of charge or at a discount per Section 3.2(iii). Such accounting statements shall contain a written representation signed by an executive officer of Licensee the Company that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF the University pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF (v) The University is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF the University by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF the University pursuant to this Agreement. All The Company may withhold the appropriate tax from any payment to be made to the University under this Agreement provided that such taxes, assessments, withholding is required by applicable law and the Company submits the amounts withheld to the applicable tax authorities. In such event the Company will furnish the University with proof of payment of such tax together with official or other charges appropriate evidence issued by the applicable governmental authority. (vi) During the term of this Agreement, and for a period of three years thereafter, the Company shall be assumed by Licenseekeep complete and accurate records in sufficient detail to permit the University to confirm the accuracy of all payments and reports due hereunder. [***] Certain information in this document has been omitted and filed separately with The University shall have the Securities and Exchange Commission. Confidential treatment has been requested with respect right to cause an independent, certified public accountant reasonably acceptable to the omitted portionsCompany and subject to terms of a confidentiality agreement to audit such records to confirm royalty payments for the preceding three years. Such audits may be exercised during normal business hours no more than once in any 12-month period upon at least 30 days’ prior written notice to the Company. The University shall bear the full cost of such audit unless such audit discloses an underpayment by more than 5% of the amount due under this Agreement. In such case, the Company shall bear the full cost of such audit.

Appears in 2 contracts

Samples: Exclusive License and Development Agreement (SafeStitch Medical, Inc.), Exclusive License and Development Agreement (Cellular Technical Services Co Inc)

Accounting for Payments. 4.5.1 4.4.1 Amounts owing to UFRF FSURF under Sections 2.2 4.1 and 4.3 4.2 shall be paid on a quarterly basis after the amount of Minimum Royalties minimum royalties paid is exceeded, with such amounts due and received by UFRF FSURF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF FSURF shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) per month or the maximum amount allowed under applicable law[***]. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF FSURF of any attorney, collection agency, or other out-of-pocket UFRF FSURF expenses required to collect overdue payments due from this Section 4.5.1Section, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.4.2 Except as otherwise directed, all amounts owing to UFRF FSURF under this Agreement shall be paid in U.S. dollars to UFRF FSURF at the following address: President Florida State University of Florida Research Foundation, Inc. 000 Xxxxxxx Attn: Xxxx PO Box 115500 GainesvilleX. Xxxxxxxxx 0000 Xxxx Xxxxxx, Florida 32611-5500 Attention: Business Manager Suite 351 Tallahassee, FL 32310 All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation - Value of Foreign Currencies on the day preceding the paymentpayment due date. 4.5.3 4.4.3 A certified full accounting statement showing how any amounts payable to UFRF FSURF under Section 4.3 have been calculated shall be submitted to UFRF FSURF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF FSURF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C D – FSURF Royalty Report of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF 4.4.4 FSURF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF FSURF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF FSURF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 2 contracts

Samples: Standard Exclusive License Agreement (Spotlight Innovation Inc.), Standard Exclusive License Agreement (Spotlight Innovation Inc.)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any 4.7.1 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF under this Section 4, Section 2, Section 7 or any other section of this Agreement shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) [...***...] per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14, Section 6.2 4, Section 7 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 Except as otherwise directed, all 4.7.2 All amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 GainesvilleXX Xxx 000000 Xxxxxxxxxxx, Florida 32611Xxxxxxx 00000-5500 0000 Attention: Business Manager All royalties monies owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation — Value of Foreign Currencies on the day preceding the paymentpayment due date. 4.5.3 4.7.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C C—UFRF Royalty Report of this Agreement. . 4.7.4 In the event no payment is owed to UFRF because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.7.5 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 2 contracts

Samples: Standard Exclusive License Agreement (Myriant Corp), Standard Exclusive License Agreement (Myriant Corp)

Accounting for Payments. 4.5.1 4.4.1 Amounts owing to UFRF under Sections 2.2 and 4.3 4.2 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any All amounts owing to UFRF pursuant to this agreement which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half percent (1.5%a) [...***...] per month or (b) the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14.4.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.4.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager Manager 4.4.3 All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation — Value of Foreign Currencies on the day preceding the payment. 4.5.3 . A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In in the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.4.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 2 contracts

Samples: Standard Exclusive License Agreement (Myriant Corp), Standard Exclusive License Agreement (Myriant Corp)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any 4.6.1 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF under this Section 4, Section 7, Section 2 or any other section of this Agreement shall accrue interest until paid from the due date at the rate of equal to the lesser of (i) one and one-half percent (1.5%) per month or (ii) the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14, Section 6.2 7, Section 2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.6.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties monies owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation-Value of Foreign Currencies on the day preceding the payment. 4.5.3 payment due date. A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4.2 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such Such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C — UFRF Royalty Report of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 . UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 2 contracts

Samples: Standard Exclusive License Agreement (Applied Genetic Technologies Corp), Standard Exclusive License Agreement (Applied Genetic Technologies Corp)

Accounting for Payments. 4.5.1 4.6.1 Amounts owing to UFRF Licensor under Sections 2.2 and Section 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties minimum royalties paid is exceeded, with such amounts due and received by UFRF Licensor on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation - Value of any Foreign Currencies on the day preceding the payment due date. 4.6.2 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF Licensor shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) % per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF Licensor of any attorney, collection agency, or other out-of-pocket UFRF Licensor expenses required to collect overdue payments due from under this Section 4.5.1, Section 6.2 4 or any other applicable section Section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.6.3 Except as otherwise directed, all amounts owing to UFRF Licensor under this Agreement shall be paid in U.S. dollars to UFRF Licensor at the following address: University of Florida USF Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 AttentionFoundation Attn: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment0000 Xxxxxxxx Xxxx, Xxxxx 000 Xxxxx, Xxxxxxx 00000. 4.5.3 4.6.4 A certified full accounting statement showing how any amounts payable to UFRF Licensor under Section 4.3 4 have been calculated shall be submitted to UFRF Licensor on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF Licensor pursuant to this Agreement. Such For earned royalties, such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C - Licensor Royalty Report of this Agreement. In For earned royalties, in the event no payment is owed to UFRF Licensor because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRFLicensor. 4.5.4 UFRF 4.6.5 Licensor is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF Licensor by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF Licensor pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Gratitude Health, Inc.)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any 4.6.1 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF under this Section 4, Section 2, Section 7 or any other section of this Agreement shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) [...***...] per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14, Section 6.2 2, Section 7 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 Except as otherwise directed, all 4.6.2 All amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties monies owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation — Value of Foreign Currencies on the day preceding the paymentpayment due date. 4.5.3 4.6.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C C–UFRF Royalty Report of this Agreement. . 4.6.4 In the event no payment is owed to UFRF because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.6.5 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Myriant Corp)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the 4.8.1 Any amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF under this Section 4, Section 2, Section 7 or any other section of this Agreement shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) [*] per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14, Section 6.2 2, Section 7 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.8.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties monies owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation - Value of Foreign Currencies on the day preceding the paymentpayment due date. 4.5.3 4.8.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4.4 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C — UFRF Royalty Report of this Agreement. . 4.8.4 In the event no payment is owed to UFRF because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.8.5 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Sun BioPharma, Inc.)

Accounting for Payments. 4.5.1 4.4.1 Amounts owing to UFRF FSURF under Sections 2.2 4.1 and 4.3 4.2 shall be paid on a quarterly basis after the amount of Minimum Royalties minimum royalties paid is exceeded, with such amounts due and received by UFRF FSURF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF FSURF shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) per month or the maximum amount allowed under applicable law[***]. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF FSURF of any attorney, collection agency, or other out-of-pocket UFRF FSURF expenses required to collect overdue payments due from this Section 4.5.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.4.2 Except as otherwise directed, all amounts owing to UFRF FSURF under this Agreement shall be paid in U.S. dollars to UFRF FSURF at the following address: PresidentFlorida State University of Florida Research Foundation, Inc. 000 Xxxxxxx Inc.Attn: Xxxx PO Box 115500 GainesvilleX. Xxxxxxxxx 0000 Xxxx Xxxxxx, Florida 32611-5500 Attention: Business Manager Suite 351Tallahassee, FL 32310 All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation - Value of Foreign Currencies on the day preceding the paymentpayment due date. 4.5.3 4.4.3 A certified full accounting statement showing how any amounts payable to UFRF FSURF under Section 4.3 have been calculated shall be submitted to UFRF FSURF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF FSURF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C D – FSURF Royalty Report of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF 4.4.4 FSURF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF FSURF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF FSURF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Spotlight Innovation, Inc.)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any 4.6.1 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF under this Section 4, Section 7, Section 2 or any other section of this Agreement shall accrue interest until paid from the due date at the rate of equal to the lesser of (i) one and one-half percent (1.5%) per month or (ii) the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14, Section 6.2 7, Section 2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.6.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties monies owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation Value of Foreign Currencies on the day preceding the payment. 4.5.3 payment due date. A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4.2 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such Such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in In Appendix C - UFRF Royalty Report of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 . UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. DOUBLE ASTERISKS [**] DENOTE OMISSIONS. taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceededbasis, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. . 4.5.2 The balance of any amounts which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half percent (1.5%) per month or the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14.5.2, Section 6.2 or any other applicable section of this Agreement. [***] * Certain information in this document exhibit has been omitted and will be filed separately with the Securities and Exchange Commission. Commission pursuant to a Confidential treatment has been requested with respect to the omitted portionsTreatment Request. 4.5.2 4.5.3 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager address provided in Section 15.1. All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment. 4.5.3 4.5.4 A certified full accounting statement showing how any amounts payable to UFRF under Section Sections 2.2 and 4.3 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name per-Product basis and shall be summarized on the form shown in Appendix C of this Agreement. UFRF shall maintain the confidentiality of such information. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all 4.5.5 All payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (AxoGen, Inc.)

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Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any 4.9.1 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF under this Section 4, Section 7, Section 2, or any other section of this agreement shall accrue interest until paid at the rate of the lesser three quarters of one and one-half percent interest (1.50.75%) per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14, Section 6.2 7, Section 2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.9.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 200 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties monies owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation - Value of Foreign Currencies on the day preceding the paymentpayment due date. [ REDACTED ] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.” [ REDACTED ] = Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.” 4.5.3 4.9.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4.4 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C C—UFRF Royalty Report of this Agreement. . 4.9.4 In the event no payment is owed to UFRF because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.9.5 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (XORTX Therapeutics Inc.)

Accounting for Payments. 4.5.1 Amounts owing to UFRF Licensor under Sections 2.2 and Section 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties minimum royalties paid is exceeded, with such amounts due and received by UFRF Licensor on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation - Value of any Foreign Currencies on the day preceding the payment due date. 4.5.2 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF Licensor shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) % per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF Licensor of any attorney, collection agency, or other out-of-pocket UFRF Licensor expenses required to collect overdue payments due from under this Section 4.5.1, Section 6.2 4 or any other applicable section Section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.5.3 Except as otherwise directed, all amounts owing to UFRF Licensor under this Agreement shall be paid in U.S. dollars to UFRF Licensor at the following address: University of Florida USF Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 AttentionFoundation Attn: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment3000 Xxxxxxxx Xxxx, Xxxxx 000 Xxxxx, Xxxxxxx 00000. 4.5.3 4.5.4 A certified full accounting statement showing how any amounts payable to UFRF Licensor under Section 4.3 4 have been calculated shall be submitted to UFRF Licensor on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF Licensor pursuant to this Agreement. Such For earned royalties, such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C – Licensor Royalty Report of this Agreement. In For earned royalties, in the event no payment is owed to UFRF Licensor because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRFLicensor. 4.5.4 UFRF 4.5.5 Licensor is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF Licensor by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF Licensor pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Alzamend Neuro, Inc.)

Accounting for Payments. 4.5.1 Amounts owing to UFRF Licensor under Sections 2.2 and Section 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties minimum royalties paid is exceeded, with such amounts due and received by UFRF Licensor on or before [*]. All royalties owing with respect to [*] stated in currencies other than U.S. dollars shall be converted at the thirtieth rate shown in the Federal Reserve Noon Valuation - Value of Foreign Currencies on the day following preceding the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any payment due date. 4.5.2 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF Licensor shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) per month or the maximum amount allowed under applicable law[*]. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF Licensor of any attorney, collection agency, or other out-of-pocket UFRF Licensor expenses required to collect overdue payments due from under this Section 4.5.1, Section 6.2 4 or any other applicable section Section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.5.3 Except as otherwise directed, all amounts owing to UFRF Licensor under this Agreement shall be paid in U.S. dollars to UFRF Licensor at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment.[*] 4.5.3 4.5.4 A certified full accounting statement showing how any amounts payable to UFRF Licensor under Section 4.3 4 have been calculated shall be submitted to UFRF Licensor on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF Licensor pursuant to this Agreement. Such For earned royalties, such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C C-Licensor Royalty Report of this Agreement. In For earned royalties, in the event no payment is owed to UFRF Licensor because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRFLicensor. 4.5.4 UFRF 4.5.5 Licensor is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF Licensor by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF Licensor pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Molekule Group, Inc.)

Accounting for Payments. 4.5.1 4.4.1 Amounts owing to UFRF under Sections 2.2 and 4.3 4.2 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half percent (1.5%) per month or the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee CTI shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14.4.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.4.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation - Value of Foreign Currencies on the day preceding the payment. 4.5.3 4.4.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4.2 have been calculated shall be submitted to UFRF on the date of each such royalty payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.4.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF a corporation by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portionsU.S. government.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Critical Therapeutics Inc)

Accounting for Payments. 4.5.1 Amounts owing to UFRF Licensor under Sections 2.2 and Section 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties minimum royalties paid is exceeded, with such amounts due and received by UFRF Licensor on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation - Value of any Foreign Currencies on the day preceding the payment due date. 4.5.2 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF Licensor shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) % per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF Licensor of any attorney, collection agency, or other out-of-pocket UFRF Licensor expenses required to collect overdue payments due from under this Section 4.5.1, Section 6.2 4 or any other applicable section Section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.5.3 Except as otherwise directed, all amounts owing to UFRF Licensor under this Agreement shall be paid in U.S. dollars to UFRF Licensor at the following address: University of Florida USF Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 AttentionFoundation Attn: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment.3000 Xxxxxxxx Xxxx, Xxxxx 000 Xxxxx, Xxxxxxx 00000 4.5.3 4.5.4 A certified full accounting statement showing how any amounts payable to UFRF Licensor under Section 4.3 4 have been calculated shall be submitted to UFRF Licensor on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF Licensor pursuant to this Agreement. Such For earned royalties, such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C – Licensor Royalty Report of this Agreement. In For earned royalties, in the event no payment is owed to UFRF Licensor because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRFLicensor. 4.5.4 UFRF 4.5.5 Licensor is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF Licensor by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF Licensor pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Alzamend Neuro, Inc.)

Accounting for Payments. 4.5.1 Amounts owing to UFRF Licensor under Sections 2.2 and Section 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties ofminimum royalties paid is exceeded, with such amounts due and received by UFRF Licensor on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation - Value of any Foreign Currencies on the day preceding the payment due date. 4.5.2 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF Licensor shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) % per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF Licensor of any attorney, collection agency, or other out-of-pocket UFRF Licensor expenses required to collect overdue payments due from under this Section 4.5.1, Section 6.2 4 or any other applicable section Section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 4.5.3 Except as otherwise directed, all amounts owing to UFRF Licensor under this Agreement shall be paid in U.S. dollars to UFRF Licensor at the following address: University of Florida USF Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 AttentionFoundation Attn: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment3000 Xxxxxxxx Xxxx, Xxxxx 000 Xxxxx, Xxxxxxx 00000. 4.5.3 4.5.4 A certified full accounting statement showing how any amounts payable to UFRF Licensor under Section 4.3 4 have been calculated shall be submitted to UFRF Licensor on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF Licensor pursuant to this Agreement. Such For earned royalties, such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C – Licensor Royalty Report of this Agreement. In For earned royalties, in the event no payment is owed to UFRF Licensor because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRFLicensor. 4.5.4 UFRF 4.5.5 Licensor is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF Licensor by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF Licensor pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Alzamend Neuro, Inc.)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any 4.6.1 Any amounts which remain unpaid more than thirty (30) days after the date they are due to UFRF under this Section 4, Section 2, Section 7 or any other section of this Agreement shall accrue interest until paid from the due date at the rate of the lesser of one and one-half percent (1.5%) [...***...] per month or the maximum amount allowed under applicable lawmonth. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.14, Section 6.2 2, Section 7 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 Except as otherwise directed, all 4.6.2 All amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties monies owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation — Value of Foreign Currencies on the day preceding the paymentpayment due date. 4.5.3 4.6.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 4 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C C—UFRF Royalty Report of this Agreement. . 4.6.4 In the event no payment is owed to UFRF because the amount of Minimum Royalties minimum royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 4.6.5 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Myriant Corp)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts which remain unpaid more than thirty (30) days after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half percent (1.5%) per month or the maximum amount allowed under applicable law. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect overdue payments due from this Section 4.5.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 219 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Valuation - Value of Foreign Currencies on the day preceding the payment. 4.5.3 A certified full accounting statement showing how any amounts payable to UFRF under Section Sections 2.2 and 4.3 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF is Licensors are exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF Licensors pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Applied Genetic Technologies Corp)

Accounting for Payments. 4.5.1 Amounts owing to UFRF under Sections 2.2 and 4.3 shall be paid on a quarterly basis after the amount of Minimum Royalties paid is exceeded, with such amounts due and received by UFRF on or before the thirtieth day [***] following the end of the calendar quarter ending on March 31, June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts which remain unpaid more than thirty (30) days [***] after they are due to UFRF shall accrue interest until paid at the rate of the lesser of one and one-half [***] percent (1.5[***]%) per month or the maximum amount allowed under applicable law[***]. However, in no event shall this interest provision be construed as a grant of permission for any payment delays. Licensee shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF expenses required to collect [***] overdue payments due from this Section 4.5.1, Section 6.2 or any other applicable section of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 4.5.2 Except as otherwise directed, all amounts owing to UFRF under this Agreement shall be paid in U.S. dollars to UFRF at the following address: University of Florida Research Foundation, Inc. 000 Xxxxxxx Xxxx PO Box 115500 Gainesville, Florida 32611-5500 Attention: Business Manager All royalties owing with respect to Net Sales stated in currencies other than U.S. dollars shall be converted at the rate shown in the Federal Reserve Noon Valuation—Value of Foreign Currencies on the day preceding the payment[***]. 4.5.3 A certified full accounting statement showing how any amounts payable to UFRF under Section 4.3 have been calculated shall be submitted to UFRF on the date of each such payment. In addition to being certified, such accounting statements shall contain a written representation signed by an executive officer of Licensee that states that the statements are true, accurate, and fairly represent all amounts payable to UFRF pursuant to this Agreement. Such accounting shall be on a per-country and product line, model or trade name basis and shall be summarized [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. on the form shown in Appendix C of this Agreement. In the event no payment is owed to UFRF because the amount of Minimum Royalties paid has not been exceeded or otherwise, an accounting demonstrating that fact shall be supplied to UFRF. 4.5.4 UFRF is exempt from paying income taxes under U.S. law. Therefore, all payments due under this Agreement shall be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on UFRF by any government outside of the United States or any political subdivision of such government with respect to any amounts payable to UFRF pursuant to this Agreement. All such taxes, assessments, or other charges shall be assumed by Licensee. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: Standard Exclusive License Agreement (Viewray Inc)

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