Annual Royalty. GROWER also shall pay an Annual Royalty for each variety of Licensed Product at the applicable per cwt rates stated above with respect to each category of the Territory in which the seed was grown. Specialty varieties (see attached Exhibit A & B) are subject to a higher rate. The Annual Royalty must be paid on all sales of Licensed Product seed from the crop year of this Agreement, whether sold within the term of this Agreement or thereafter, and are due within thirty (30) days of each respective sale or transfer date. All Licensed Products sold or otherwise transferred by GROWER shall be presumed to have been sold as seed (unless otherwise demonstrated to PVMI’s satisfaction). This Agreement is subject to all of the terms and conditions stated herein, including those on the following pages 2 through 6, to which GROWER and PVMI expressly agree. GROWER acknowledges and agrees that any additional or modified terms inserted by GROWER are not part of the contract between PVMI and GROWER unless expressly agreed by PVMI in writing. PVMI GROWER:
Annual Royalty. GROWER also shall pay an Annual Royalty for each variety of Licensed Product at the applicable per cwt rates stated above with respect to each category of the Territory in which the seed was grown. Specialty varieties (see attached Exhibit A & B) are subject to a higher rate. The Annual Royalty must be paid on all sales of Licensed Product seed from the crop year of this Agreement, whether sold within the term of this Agreement or thereafter, and are due within thirty (30) days of each respective sale or transfer date. All Licensed Products sold or otherwise transferred by GROWER shall be presumed to have been sold as seed. If GROWER demonstrates to PVMI's satisfaction that Licensed Product seed is not being sold by GROWER as seed but instead to non- seed/commercial markets, GROWER shall also pay PVMI an Annual Royalty on 10% of the total cwt sold to non- seed/commercial markets at the applicable per cwt rates stated above with respect to each category of the Territory in which the seed was grown. This Agreement is subject to all of the terms and conditions stated herein, including the Additional Terms and Conditions on the following pages, to which GROWER and PVMI expressly agree. GROWER acknowledges and agrees that any additional or modified terms inserted by GROWER are not part of the contract between PVMI and GROWER unless expressly agreed to by PVMI in writing. POTATO VARIETY MANAGEMENT INSTITUTE, INC. GROWER:
Annual Royalty. GROWER also shall pay an Annual Royalty for each variety of Licensed Product at the applicable per cwt rates stated above with respect to each category of the Territory in which the seed was grown. Specialty varieties (see attached Exhibit A & B) are subject to a higher rate. The Annual Royalty must be paid on all sales of Licensed Product seed from the crop year of this Agreement, whether sold within the term of this Agreement or thereafter, and are due within thirty (30) days of each respective sale or transfer date. All Licensed Products sold or otherwise transferred by GROWER shall be presumed to have been sold as seed (unless otherwise demonstrated to PVMI’s satisfaction).
Annual Royalty. GROWER also shall pay an Annual Royalty for each variety of Licensed Product at the applicable per cwt rates stated above with respect to each category of the Territory in which the seed was grown. Specialty varieties (see attached Exhibit A & B) are subject to a higher rate. The Annual Royalty must be paid on all sales of Licensed Product seed from the crop year of this Agreement, whether sold within the term of this Agreement or thereafter, and are due within thirty (30) days of each respective sale or transfer date. All Licensed Products sold or otherwise transferred by GROWER shall be presumed to have been sold as seed (unless otherwise demonstrated to PVMI’s satisfaction). PVMI GROWER: ___________________________________ By: Name: Title: Date: By: Name: Title: Date:
Annual Royalty. 11.1 Each of the Parties shall pay the STATE an annual royalty on the value of its Percentage Interest of the Available Crude Oil and Available Natural Gas produced from each Exploitation Concession at the following rates:
(a) Exploitation Concession located onshore or offshore at a water depth less than or equal to 200 meters
Annual Royalty. In consideration of the license of FCE Technology granted herein, POSCO Power agrees to pay to FCE an annual royalty of 4.1% of the Net Sales (the “Annual Royalty”) during the Initial Term, subject to the Minimum Annual Royalty (defined below) provision set forth in Section 4.2 below. The Annual Royalty payment shall be paid by POSCO Power as follows:
(i) in cash equal to 2.6% of the Net Sales; and
(ii) in shares of the capital stock (“NewCo Stock”) of NewCo equal to 1.5% of the Net Sales, up to 5% of the total outstanding capital stock of NewCo, in accordance with the valuation procedure set forth below; it being understood and agreed that, if the NewCo Stock received by FCE in the aggregate reaches 5% of the total outstanding capital stock of NewCo, POSCO Power may, at its sole and absolute discretion, choose to pay the amount exceeding 2.6% of the Net Sales in either cash or NewCo Stock, or any combination thereof; it being further understood and agreed that, in the event the initial public offering of the capital stock of NewCo is not completed by POSCO Power within 5 years from the Effective Date, upon a written request by FCE, any Annual Royalty payments for the subsequent years shall be made in cash, in lieu of the NewCo Stock payment.
Annual Royalty. 11.1 Annual royalty rate Each of the Parties shall pay to the State an annual royalty on the value of its Participating Interest in the Net Share of Hydrocarbons Production according to the following basis: CRUDE OIL · For Crude Oil from an Exploitation Concession with a water depth less than or equal to 200 metres: the production of the first 300,000 tons originating from each Exploitation Concession is exempted from the annual royalty payment; all production exceeding 300,000 tons originating from each Exploitation Concession is subject to an annual royalty charge of 10%. · For Crude Oil from an Exploitation Concession with a water depth greater than 200 meters: the production of the first 500,000 tons originating from each Exploitation Concession is exempted from the royalty payment; all production exceeding 500,000 tons originating from each Exploitation Concession is subject to an annual royalty charge of 7%. NATURAL GAS · For Natural Gas from an Exploitation Concession with a water depth less than or equal to 200 metres: the production of the first 300 million m3 originating from each Exploitation Concession is exempted from the annual royalty payment; all production exceeding 300 millions m3 originating from each Exploitation Concession is subject to an annual royalty charge of 5%. · For Natural Gas from an Exploitation Concession with a water depth greater than 200 metres: the production of the first 500 million m3 originating from each Exploitation Concession is exempted from the royalty payment; all production exceeding 500 million m3 originating from each Exploitation Concession is subject to an annual royalty charge of 3.5%.
11.2 Methods of payment of the annual royalty The STATE reserves the right to be paid in kind or in cash. Any decision by the STATE to modify its choice of payment method must be communicated to each of the Parties in writing at least six (6) calendar months prior to the effective date of such a change.
11.2.1 The Crude Oil and/or Natural Gas prices which shall be used to determine the amount of the advances of the annual royalty as specified in Article 11.2.2 below, if payable in cash, shall be based on the Market Price applicable during the calendar month to which such advances relate as defined in Article 6 herein.
11.2.2 If the STATE elects to be paid in cash, then on or before 31 July and 31 January of each calendar year, each of the Parties shall pay the STATE advances on the annual royalty for that amount of Net Hydr...
Annual Royalty. Beginning on the first anniversary of the Effective Date and each anniversary thereafter, Licensee will pay Stanford a yearly license annual royalty of $10,000.
Annual Royalty. In addition to the annual sublicense fee required under Section 3 above, Sublicensee agrees to pay WCIA as “earned royalties” an annual royalty on the sale or transfer of potatoes as seed by or on behalf of the Sublicensee. The royalty will be calculated at the applicable rates from the above table, expressed per CWT (hundred weight) of seed, which are based on the Territory where the seed is grown. If the seed is sold, transferred after the termination of this Agreement, the royalties must still be paid.
Annual Royalty a. The annual Royalty paid to Lessor will be based on the Net Revenues generated during the calendar year by the Lessee as follows:
