Common use of Advances and Royalties Clause in Contracts

Advances and Royalties. 9.1 If an Advance and/or Royalties are set out as payable in the Term Sheet Clause 9 shall apply. 9.2 The Licensee shall pay to DACS the Advance, if applicable, within 30 days from the date of invoice, unless agreed otherwise with DACS in writing. 9.3 Subject to recouping the Advance from Royalties, the Licensee shall, following recoupment, pay to DACS the Royalties as set out below. 9.4 Within 28 days of the end of each Royalty Period (and within 28 days after the date of termination or expiry of this Agreement) and as long as the Licensee or any of its Associates receive any monies or other benefits arising from the exploitation of the Licence, the Licensee shall provide a statement to DACS setting out: (a) the number of copies of the Licensed Product sold during the relevant Royalty Period and the price of the same; (b) if applicable, the number of copies of the Licensed Products printed or manufactured during the Royalty Period but not yet sold or distributed; (c) the number of copies of the Licensed Product given away for publicity or review purposes; (d) if applicable, the number of copies lost through damage or theft, destroyed, pulped or remaindered or for any other reason for which the Licensee considers no Royalty to be due; and (e) any other particulars as DACS may reasonably require. 9.5 Upon receipt of the Royalty Statement, DACS shall issue an invoice for any sums set out as due, and the Licensee shall make payment of the same within ten days of receipt of such invoice. 9.6 The Royalties shall be based on the number of Licensed Products sold. The Licensee may not make any further deductions whatsoever, including provisions against uncollected or uncollectible amounts, costs, overhead, etc, from the Royalties due to DACS. However, The Licensee shall be entitled to give away no more than ten copies of the Licensed Product for the purposes of publicity and review, and no Royalty shall be payable on such copies given away. 9.7 The Licensee shall not give any more than ten Licensed Products away as Premiums without DACS’ prior written approval.

Advances and Royalties. 9.1 10.1 If an Advance and/or Royalties are set out as payable in the Term Sheet Clause 9 10 shall apply. 9.2 10.2 The Licensee shall pay to DACS the Advance, if applicable, within 30 days from the date of invoice, unless agreed otherwise with DACS in writing. 9.3 10.3 Subject to recouping the Advance from Royalties, the Licensee shall, following recoupment, pay to DACS the Royalties as set out below. 9.4 10.4 Within 28 days of the end of each Royalty Period (and within 28 days after the date of termination or expiry of this Agreement) and as long as the Licensee or any of its Associates receive any monies or other benefits arising from the exploitation of the Licence, the Licensee shall provide a statement to DACS setting out: (a) the number of copies of the Licensed Product sold during the relevant Royalty Period and the price of the same; (b) if applicable, the number of copies of the Licensed Products printed or manufactured during the Royalty Period but not yet sold or distributed; (c) the number of copies of the Licensed Product given away for publicity or review purposes; (d) if applicable, the number of copies lost through damage or theft, destroyed, pulped or remaindered or for any other reason for which the Licensee considers no Royalty to be due; and (e) any other particulars as DACS may reasonably require. 9.5 10.5 Upon receipt of the Royalty Statement, DACS shall issue an invoice for any sums set out as due, and the Licensee shall make payment of the same within ten days of receipt of such invoice. 9.6 10.6 The Royalties shall be based on the number of Licensed Products sold. The Licensee may not make any further deductions whatsoever, including provisions against uncollected or uncollectible amounts, costs, overhead, etc, from the Royalties due to DACS. However, The Licensee shall be entitled to give away no more than ten copies of the Licensed Product for the purposes of publicity and review, and no Royalty shall be payable on such copies given away. 9.7 10.7 The Licensee shall not give any more than ten Licensed Products away as Premiums without DACS’ prior written approval.