Common use of Annual License Maintenance Fee Clause in Contracts

Annual License Maintenance Fee. Licensee shall pay an Annual License Maintenance Fee to University in the amount indicated in the Schedule below based on the type of Licensed Product(s) being developed or commercialized by Licensee (or any Affiliate or Sublicensee). If Licensee (or any Affiliate or Sublicensee) is developing or commercializing one or more Clinically-Approved Products and one or more Other Products, only the higher fee shall be due. Until such time as Licensee (together with Affiliates and Sublicensees) has incurred costs as described in Section 1.4(ii), the Licensed Product shall be deemed to be an Other Product for purposes of determining fees payable under this Section 3.5. Annual License Maintenance Fee Schedule Years Date Due Clinically- Approved Product Other Product 3rd complete calendar year following the Effective Date through the 5th complete calendar year following the Effective Date 6th complete calendar year following the Effective Date and each calendar year thereafter Each March 15th beginning on March 15, 20 and continuing through March 15, 20 Each March 15th beginning on March 15, 20 and continuing throughout the term of this Agreement $15,000 $5,000 $30,000 $10,000 The aforementioned Annual License Maintenance Fees shall be paid to University on the dates set forth in the above table. Subsequent to the first commercial sale of a Licensed Product, the aforementioned Annual License Maintenance Fees owed to University after such first commercial sale of Licensed Product shall be creditable towards payments owed to University pursuant to Section 3.4 (Earned Royalty), Section 3.6(i) (Sublicensing Revenue), and Section 3.6(ii) (Sublicensing Royalty Revenue) in any given year.

Annual License Maintenance Fee. Licensee shall pay an Annual License Maintenance Fee to University in the amount indicated in the Schedule below based on the type of Licensed Product(s) being developed or commercialized by Licensee (or any Affiliate or Sublicensee). If Licensee (or any Affiliate or Sublicensee) is developing or commercializing one or more Clinically-Approved Products and one or more Other Products and one or more Service Products, only the higher fee shall be due. Until such time as Licensee (together with Affiliates and Sublicensees) has incurred costs as described in Section 1.4(ii), the Licensed Product shall be deemed to be an Other Product for purposes of determining fees payable under this Section 3.53.8. Annual License Maintenance Fee Schedule Years Date Due Clinically- Approved Product Other Product and Service Product 3rd complete calendar year following the Effective Date through the 5th complete calendar year following the Effective Date 6th complete calendar year following the Effective Date and each calendar year thereafter Each March 15th beginning on March 15, 20 and continuing through March 15, 20 Each March 15th beginning on March 15, 20 and continuing throughout the term of this Agreement $15,000 $5,000 $30,000 $10,000 The aforementioned Annual License Maintenance Fees shall be paid to University on the dates set forth in the above table. Subsequent to the first commercial sale of a Licensed Product, the aforementioned Annual License Maintenance Fees owed to University after such first commercial sale of Licensed Product shall be creditable towards payments owed to University pursuant to Section 3.4 3.7 (Earned Royalty), ) and Section 3.6(i) 3.9 (Sublicensing Revenue), and Section 3.6(ii) (Sublicensing Royalty RevenueFees) in any given year.

Annual License Maintenance Fee. Licensee shall pay an Annual License Maintenance Fee to University in the amount indicated in the Schedule below based on the type of Licensed Product(s) being developed or commercialized by Licensee (or any Affiliate or Sublicensee). If Licensee (or any Affiliate or Sublicensee) is developing or commercializing one or more Clinically-Approved Products and one or more Other ProductsProducts and one or more Licensed Services, only the higher fee shall be due. Until such time as Licensee (together with Affiliates and Sublicensees) has incurred costs as described in Section 1.4(ii), the Licensed Product shall be deemed to be an Other Product for purposes of determining fees payable under this Section 3.53.8. Annual License Maintenance Fee Schedule Years Date Due Clinically- Approved Product Other Product and Licensed Service 3rd complete calendar year following the Effective Date through the 5th complete calendar year following the Effective Date 6th complete calendar year following the Effective Date and each calendar year thereafter Each March 15th beginning on March 15, 20 and continuing through March 15, 20 Each March 15th beginning on March 15, 20 and continuing throughout the term of this Agreement $15,000 $5,000 $30,000 $10,000 The aforementioned Annual License Maintenance Fees shall be paid to University on the dates set forth in the above table. Subsequent to the first commercial sale of a Licensed Product, the aforementioned Annual License Maintenance Fees owed to University after such first commercial sale of Licensed Product shall be creditable towards payments owed to University pursuant to Section 3.4 3.7 (Earned Royalty), ) and Section 3.6(i) 3.9 (Sublicensing Revenue), and Section 3.6(ii) (Sublicensing Royalty RevenueFees) in any given year.