Binder Royalty Term Sample Clauses

Binder Royalty Term. Subject to the penultimate sentence of this Section 6.6.4(b), royalties payable under this Section 6.6.4 shall be paid by Celgene on a Binder Program Product-by-Binder Program Product and country-by-country basis from the date of First Commercial Sale of each Binder Program Product in a country with respect to which royalty payments are due, until the last to expire of any Valid E3 Ligase Claim of any Vividion Patents, Celgene License Collaboration Patents or Joint Patents Covering such Binder Program Product in such country(each such term with respect to a Binder Program Product and a country, a “Binder Royalty Term”). Notwithstanding anything to the contrary contained herein, [***]. As used herein, “Valid E3 Ligase Claim” shall mean (i) a claim, as in existence as of the end of the Research Term, Covering the [***] the E3 Ligase Binder Ligand of any issued, unexpired patent that has not been revoked or held unenforceable or invalid by a decision of a court or governmental agency of competent jurisdiction from which no appeal can be taken, or with respect to which an appeal is not taken within the time allowed for appeal, and that has not been disclaimed or admitted to be invalid or unenforceable through reissue, disclaimer or otherwise, or (ii) a claim, as in existence as of the end of the Research Term, Covering the [***] the E3 Ligase Binder Ligand, of any patent application filed by a Person in good faith that has not been cancelled, withdrawn or abandoned, nor been pending for more than [***] years from the earliest filing date to which such patent application or claim is entitled.***
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Related to Binder Royalty Term

  • Royalty Term On a country-by-country and Licensed Product-by-Licensed Product basis, royalty payments in the Territory shall commence upon the first commercial sale of such Licensed Product, whether such sale is to a Public Purchaser, Governmental Authority or private entity or person and whether such sale is made under an EUA or Key Approval, in such country in the Territory and will terminate upon the later of: (a) the expiration, invalidation or abandonment date of the last Valid Claim of the Patents in the country of sale or manufacture of such Licensed Product in the Territory or (b) expiration of regulatory exclusivity of such Licensed Product in such country of sale in the Territory (the “Royalty Term”).

  • License Term The license term shall commence upon the License Effective Date, provided, however, that where an acceptance or trial period applies to the Product, the License Term shall be extended by the time period for testing, acceptance or trial.

  • Minimum Royalty At the beginning of each calendar year during the term of this Agreement, beginning January 1, 2016, Company shall pay to Medical School a minimum royalty of {***}. If the actual royalty payments to Medical School in any calendar year are less than the minimum royalty payment required for that year, Company shall have the right to pay Medical School the difference between the actual royalty payment and the minimum royalty payment in full satisfaction of its obligations under this Section, provided such minimum payment is made to Medical School within sixty (60) days after the conclusion of the calendar year. Waiver of any minimum royalty payment by Medical School shall not be construed as a waiver of any subsequent minimum royalty payment. If Company fails to make any minimum royalty payment within the sixty-day period, such failure shall constitute a material breach of its obligations under this Agreement, and Medical School shall have the right to terminate this Agreement in accordance with Section 8.3.

  • Earned Royalty In addition to the annual license maintenance fee, ***** will pay Stanford earned royalties (Y%) on Net Sales as follows:

  • Royalty Payment For all leased substances that are sold during a particular month, Lessee shall pay royalties to Lessor on or before the end of the next succeeding month. Royalty payments shall be accompanied by a verified statement, in a form approved by Lessor, stating the amount of leased substances sold, the gross proceeds accruing to Lessee, and any other information reasonably required by Lessor to verify production and disposition of the leased substances or leased substances products. Delinquent royalties may be subject to late fees and penalties in accordance with Lessor’s Rules.