Annual Minimum Royalty. (a) Subject to Section 3.3(b), if Acorda’s annual Earned Royalties payment for the Royalty-Bearing Product to Foundation pursuant to Section 3.2 after the first full calendar year anniversary following the date of Regulatory Approval for the Royalty-Bearing Product, or in any calendar year thereafter, is less than [**] (the “Minimum Royalty”), Acorda shall make or cause to be made a payment to Foundation within sixty (60) days after the end of such applicable calendar year equal to the difference between the Minimum Royalty and the total Earned Royalties payment to Foundation for all Royalty-Bearing Products for that calendar year, together with the applicable report in accordance with Article 4.
Annual Minimum Royalty. In the event that the Royalties paid in any full calendar year after the first commercial sale of a Licensed Product do not reach the minimum amount set out below for such year, then within […***…] days after the end of such full calendar year LICENSEE shall pay an additional amount for the period ending December 31 of such year, so that the total amount paid to BCM under Section 4.4 and this Section 4.5 for such year shall reach such minimum amount:
Annual Minimum Royalty. Licensee shall pay to BP twenty percent (20%) of the annual minimum royalty due from BP to KGSI under Section 4(a) of the KGSI Agreement.
Annual Minimum Royalty. For the first four (4) calendar quarter period (“Year of Sales”) beginning 180 days after the First Commercial Sale of a Drug Product for use with the Device by Transave, its Affiliates and/or Sublicensees, and for each successive Year of Sales thereafter during the Royalty Term, at the time of its last payment of royalties for the last calendar quarter in such Year of Sales under Section 9.2 above, Transave shall pay PARI the difference, if any, between the royalties actually paid in such Year of Sales and the Annual Minimum Royalty (the “Minimum Royalty Payment”). [***]
Annual Minimum Royalty. Upon commencement of Veoneer serial production for the first Licensed Product (including, as modified to meet Customer expectations), Veoneer commits that the total royalties paid to Velodyne during each calendar year through December 31, 2024 (prorated for the calendar years where production for a Program is commenced or ended) will achieve a minimum of [*] in the aggregate (the “AMR”)). Notwithstanding the foregoing, the parties agree there will be no AMR [*], and the AMR [*] shall be equal to the royalties actually achieved during such calendar year based on Veoneer sales of Licensed Products to Customers. Starting in [*], Veoneer shall provide an annual calendar year report to Velodyne by [*], confirming the actual amount of royalties paid to Velodyne during the reporting calendar year) (the “Annual Royalty Payment Report”). For calendar years 2021 and later, if the actual royalties paid during a calendar year do not meet the AMR, the Parties will meet to discuss in good faith the reasons why such AMR was not achieved and whether an adjustment to the AMR is warranted. Such meeting will occur no later than [*] after Veoneer issues its Annual Royalty Payment Report and if Velodyne does not request such meeting within the [*], the requirement for such meeting will be waived and the Agreement shall continue with the AMR automatically adjusted for the subject calendar year to an amount equal to the actual royalties achieved during such calendar year (for clarity, this shall not affect, increase or reduce any subsequent calendar years’ AMR). If the Parties are unable to close the discussion [*] after the date of the initial meeting (by either agreeing no change to the Agreement is warranted, or by agreeing to mutually agreeable adjustments to this Agreement), then: (i) the minimum royalty shall be equal to [*]; and (ii) Velodyne shall have the option to terminate this Agreement, without penalty, exercisable only [*]. Veoneer may prior to such termination [*] and such termination right shall no longer be exercisable for such calendar year. The option to terminate shall be subject to the termination rules set forth in this Agreement.
Annual Minimum Royalty. Licensee will pay Licensor the difference between the amount of the total Running Royalty plus Sublicensing Royalties and the Annual Minimum Royalty in the event that the Running Royalty due under Paragraph B plus the Sublicensing Royalties due under Paragraph F together do not equal or exceed the Annual Minimum Royalty set out in the table below. Accounting Period Annual Minimum Royalty 1 Zero U.S. Dollars ($0.00) 2 Zero U.S. Dollars ($0.00) 3 Zero U.S. Dollars ($0.00) 4 Twenty Thousand U.S. Dollars (US$20,000) 5 Twenty Thousand U.S. Dollars (US$20,000) 6 and each Accounting Seventy Thousand U.S. Dollars (US$70,000) Period thereafter [***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. A percentage of the Annual Minimum Royalty paid by Licensee under this Agreement will be attributed to the Annual Minimum Royalty for the PLA-1669 License.
Annual Minimum Royalty. Commencing with the calendar year in which Xtent Stents first receive a XX-Xxxx, FDA or MHLW approval and for each calendar year thereafter so long as this Agreement remains in force and effect, Xtent shall [*] provided that in the first year after such approval, the Minimum Annual Royalty will be prorated for the number of months during which such approval is effective. In the event that in any calendar year the royalties paid for such year are [*] then Occam shall provide written notice to Xtent of the shortfall. Xtent may pay Occam the amount of the shortfall within forty (40) days after such notice; if Xtent does not pay the amount of the shortfall, then Occam may terminate this Agreement and the licenses granted hereunder upon twenty (20) days' additional written notice to Xtent.
Annual Minimum Royalty. Beginning with the first full calendar year of sales of Licensed Product in the United States and for two years thereafter, Licensee will pay Licensor an Annual Minimum Royalty payment of $100,000 against which any Royalty on Net Sales paid in the same calendar year for sales in the United States will be credited. Subject to Section 10.3, beginning with the first full year of sales of Licensed Product outside of the United States (“Non U.S.”) and for two years thereafter, Licensee will pay Licensor an Annual Minimum Royalty payment of $100,000 against which any Royalty on Net Sales paid in the same calendar year for sales outside the United States will be credited. The Annual Minimum Royalty for a given year will be due at the time payments are due for the calendar quarter ending on December 31. The Annual Minimum Royalty due on sales made in the United States will be paid to Foundation and Annual Minimum Royalty due on sales made outside of the United States will be paid to Xxxxxx and Xxxxxxxx.
Annual Minimum Royalty. In consideration of the right and license granted by Licensor to Licensee hereunder, during the Initial Term of this Agreement Licensee shall pay to Licensor an annual minimum royalty, which shall be non-refundable in whole or in part in the event of the early termination of the Contract Term (the “Annual Minimum Royalty”), in the following amounts:
Annual Minimum Royalty. The Company shall pay to Licensor an annual ---------------------- minimum royalty of ten thousand dollars ($10,000) for each one year term, or prorated portion thereof, this License Agreement is in effect (the "Annual Minimum Royalty"). The Annual Minimum Royalty shall be payable to the Licensor within sixty (60) days after December 31 of each year. The Product Royalties or Sublicensee Royalties for a given year under the provisions of Section 4.1 and 4.2 above shall be fully creditable against the Annual Minimum Royalty due for that year.
