ANNUAL ROYALTIES AND PAYMENTS Sample Clauses

ANNUAL ROYALTIES AND PAYMENTS. In consideration of the license granted hereunder, the Licensee shall pay to the University subject to Section 5.6 below: (a) a royalty of [**************] percent ([***]%) of Net Revenue; For greater clarification, on sales between Licensee, and/or its Affiliates, sub-licensees or agents for resale purposes, the royalty shall be paid only on the resale value by such Affiliate, sublicense, or agent. Such royalties shall become due and payable on each Royalty Due Date, and shall be calculated with respect to Net Revenue for the calendar quarter immediately preceding the month in which the applicable Royalty Due Date occurs; and (b) in addition to such annual royalties in subsection (a) hereof, [**** ***********] percent ([***]%) of: (i) initial up-front fees, or other consideration (including equity or other participation), or in-kind or non-monetary contribution, if any, receivable by Licensee upon its execution of or pursuant to the terms of any sub-license agreement related to the use of the Technology, Materials, Licensed Products or Licensed Processes; and (ii) any payments or other consideration (including equity or other participation), or in-kind or non-monetary contribution receivable by Licensee upon the successful achievement of milestones set forth in, and pursuant to the terms of, any sublicense agreement related to the use of the Technology, Materials, Licensed Products or Licensed Processes. The Licensee shall be entitled to deduct from any of the foregoing consideration received that portion which is a reimbursement of its direct, out-of-pocket costs for research projects funded on behalf of the sub-licensee relating to the Licensee's Improvements after the effective date of the sub-license agreement. Any payments under this subsection (b) shall be following receipt by the Licensee of the fees, consideration, or in-kind or non-monetary contribution, provided Licensee has exercised commercially reasonable efforts to collect such amount or entitlement owing. Notwithstanding anything herein to the contrary, the University acknowledges and agrees, that it is not entitled to any compensation, royalty or payment whatsoever in connection with any payments or other consideration (including equity or other participation), with respect to third party equity investments in the Licensee which are not directly attributable to the sub-licensing of any of the Technology, Materials, Licensed Products or Licensed Processes.
Sample 1
AutoNDA by SimpleDocs
ANNUAL ROYALTIES AND PAYMENTS. In consideration of the license granted hereunder, the Licensee shall pay to the University: (a) Annual royalties of 3 % of the Gross Revenue. Subject to section 5.4 (b), such royalties shall become due and payable on each Royalty Due Date, and shall be calculated with respect to the Gross Revenue of the Licensee and/or Sublicensee for the calendar quarter immediately preceding the month in which the applicable Royalty Due Date occurs. When discounts are afforded as a result of concurrent sales of other products and Licensed Products, Gross Revenue will be calculated on the basis of the normal price of Licensed Products as established by independent sales of the Licensed Products. (b) No Annual Royalty shall accrue or be due or payable in respect of Gross Revenue attributable to the period prior to April 1, 2006
Sample 1

Related to ANNUAL ROYALTIES AND PAYMENTS

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • License Fees and Royalties Consistent with the applicable U.S. DOT Common Rules, the Recipient agrees that license fees and royalties for patents, patent applications, and inventions produced with federal assistance provided through the Underlying Agreement are program income, and must be used in compliance with federal applicable requirements.

  • Minimum Royalties If royalties paid to Licensor do not reach the minimum royalty amounts stated in Section 3.3 of the Patent & Technology License Agreement for the specified periods, Licensee will pay Licensor on or before the Quarterly Payment Deadline for the last Contract Quarter in the stated period an additional amount equal to the difference between the stated minimum royalty amount and the actual royalties paid to Licensor.

  • Xxxxxxxx and Payments Xxxxxxxx and payments shall be sent to the addresses set out in Appendix F hereto.

  • Earned Royalties In partial consideration of the License and subject to Sections 3.7 and 3.8, Company will pay to Penn: (i) a graduated royalty as set forth in the table below based upon worldwide annual Net Sales made by Company and its Affiliates (but not sublicensees) of any Designated Compound Sold for use in the Field of Use while covered in the country of Sale of expected use by a Valid Claim of the Assigned BMS Patents that is licensed to Company under the License (but no other Licensed Product): <$500 million [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$500 million but <$750 million [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$750 million but <$1 billion [CONFIDENTIAL TREATMENT REQUESTED] /*/% >$1 billion [CONFIDENTIAL TREATMENT REQUESTED] /*/% [CONFIDENTIAL TREATMENT REQUESTED] /*/ PATENT LICENSE AGREEMENT (ii) a royalty of [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of Net Sales made by Company and its Affiliates (but not sublicensees) for all Licensed Products that qualify as “Licensed Products” hereunder based on clause (b) of that definition and Sold while covered in the country of Sale of expected use by a Valid Claim of the Penn Existing Patents or Penn New Patents; provided that, notwithstanding any credits provided for in Section 3.7 but subject in all events to Section 3.8, royalties payable by Company for such Net Sales for such Licensed Products shall not be less than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%). Only one royalty shall be due hereunder on the Sale of the same unit of Licensed Product. If a royalty accrues to a Sale of a Licensed Product under both clause (i) and (ii) above, then the higher rate of clause (i) shall apply. Only one royalty shall be due hereunder on the Sale of a Licensed Product even if the manufacture, use, sale, offer for sale or importation of such Licensed Product infringes more than one Valid Claim of the Penn Patent Rights.

  • Minimum Payments (a) Where the employee is under 45 years of age, the employer shall pay the employee Less than 1 year Nil 1 year and less than 2 years 4 weeks pay 2 years and less than 3 years 7 weeks pay 3 years and less than 4 years 10 weeks pay 4 years and less than 5 years 12 weeks pay 5 years and less than 6 years 14 weeks pay 6 years and over 16 weeks pay. (b) Where the employee is 45 years of age or over, the employer shall pay the employee in accordance with the following scale: Less than 1 year Nil 1 year and less than 2 years 5 weeks pay 2 years and less than 3 years 8.75 weeks pay 3 years and less than 4 years 12.5 weeks pay 4 years and less than 5 years 15 weeks pay 5 years and less than 6 years 17.5 weeks pay 6 years and over 20 weeks pay

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Milestone Fees Licensee will pay Milestone Fees indicated in Section 3.1(b) of the Patent & Technology License Agreement by the Quarterly Payment Deadline for the Contract Quarter in which the milestone events set forth in Section 3.1(b) of the Patent & Technology License Agreement are achieved.

  • Royalty Reports and Payments After the first sale of a Product on which royalties are payable by a Party hereunder, such Party shall make quarterly written reports to the other Party within sixty (60) days after the end of each calendar quarter, stating in each such report, separately the number, description, and aggregate Net Sales, by territory, of each such Product sold during the calendar quarter upon which a royalty is payable under Section 6.3 or Section 6.4 above, as applicable. Concurrently with the making of such reports, such Party shall pay to the other Party royalties due at the rates specified in Section 6.3 or Section 6.4 above, as applicable.

  • Quarterly Payments The quarterly payment cannot be increased in cases of target over-achievement. The payments are given on cumulative outputs, in arrears, and therefore the maximum payment available will be given by the end of the Contract if the agreed (target) number of outputs is reached or exceeded.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!