COMPENSATION AND AUDIT. A. In consideration for the license granted hereunder, Licensee agrees to pay to Licensor the royalty payments recited in Exhibit A based on Licensee’s Net Sales of Licensed Products (less accessories or other components or products used in combination with the Licensed Products). B. Only one royalty will be paid hereunder for each Licensed Product whether such Licensed Product is covered by more than one (1) claim of a licensed patent, by the claims of more than one (1) of the licensed patents, or by the claims of patent of more than one country. C. The royalty owed Licensor will be calculated on an annual calendar basis and will be payable as indicated in Exhibit A. D. Licensor will have the right, upon reasonable notice and reasonable request at Licensor’s sole expense, to inspect Licensee’s relevant books and records and all other documents and material in Licensee’s possession or control with respect to ascertaining the royalty payments due.
Appears in 10 contracts
Samples: Technology License Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Mri Interventions, Inc.), System and Lead Development and Transfer Agreement (Mri Interventions, Inc.)
