Common use of After First Commercial Sale Clause in Contracts

After First Commercial Sale. Following the First Commercial Sale, Company shall pay Hospital a non-refundable minimum annual royalty in the amount of [***] per year within sixty (60) days after each annual anniversary of the Effective Date. The annual minimum royalty shall be credited against royalties subsequently due on Net Sales made during the same calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other year.

After First Commercial Sale. Following the First Commercial Sale, Company shall pay Hospital a non-refundable minimum annual royalty in the amount of fifty thousand dollars ($50,000) per year within [***] per year within sixty (60) days after each annual anniversary of the Effective Date. The annual minimum royalty shall be credited against royalties subsequently due on Net Sales made during the same calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other year.

After First Commercial Sale. Following Commencing on the first anniversary following the First Commercial Sale, Company shall pay Hospital a non-refundable minimum annual royalty in the amount of fifty thousand dollars ($50,000) per year for each Patent Family covering the Product or Process being Sold, within [***] per year within sixty (60) days after each annual anniversary of the Effective Date. The annual minimum royalty shall be credited against royalties subsequently due on Net Sales made during the same calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other year.

After First Commercial Sale. Following the First Commercial Sale, Company shall pay Hospital a non-refundable annual minimum annual royalty in the amount of [***] ]U.S. dollars ($[***]) per year within sixty (60) [***] days after each annual anniversary of the Effective Date. The annual minimum royalty Annual Minimum Royalty shall not be creditable against earned royalties for the first [***] years following First Commercial Sale, but shall be credited against royalties subsequently due made on Net Sales made during the same following calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other yearyear and for each year thereafter.

After First Commercial Sale. Following the First Commercial Sale, Company shall pay Hospital a non-refundable minimum annual royalty in the amount of [***] per year within sixty (60) days [***] after each annual anniversary of the Effective DateDate occurring after the First Commercial Sale. The annual minimum royalty shall be credited in full against royalties subsequently due on Net Sales made during the same calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other year.

After First Commercial Sale. Following the First Commercial SaleSale of any Product, Company shall pay Hospital a non-refundable minimum annual royalty in the amount of [***] per year within sixty (60) [***] days after each annual anniversary of the Effective Date. The annual minimum royalty shall be credited against royalties subsequently due on Net Sales made during the same calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other year.

After First Commercial Sale. Following the First Commercial Sale, Company shall pay Hospital a non-refundable minimum annual royalty in the amount of [***] Five Thousand Dollars ($5,000) per year within sixty (60) days after each annual anniversary of the Effective Date. The annual minimum royalty shall be credited against royalties subsequently due on Net Sales made during the same calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other year.

After First Commercial Sale. Following the First Commercial Sale, Company shall pay Hospital a non-refundable minimum annual royalty in the amount of [***] Fifty Thousand U.S. dollars ($50,000) per year within sixty (60) days after each annual anniversary of the Effective Date. The annual minimum royalty shall be credited against royalties subsequently due on Net Sales made during the same calendar year, if any, but shall not be credited against royalties due on Net Sales made in any other year.