Copy of Sublicenses and Sublicense Royalty Reports. Licensee shall submit to University a copy of each Sublicense, any subsequent amendments and all copies of Sublicensee’s royalty reports. PAYMENT, RECORDS, AND AUDIT Licensee’s Payment Obligation The Licensee shall pay all amounts under Section 7 and 10 of the Business Terms by the dates indicated therein. Licensee shall pay such amounts by wire transfer, check (payable to the “Regents of the University of Minnesota” and sent to: Regents of the University of Minnesota, NW 5960, XX Xxx 0000, Xxxxxxxxxxx, XX 00000-0000; reference agreement number on check), or any other method of payment specified by University. Licensee Responsible for Non-U.S. Taxes Licensee shall pay all non-U.S. taxes related to payments made to University under this Agreement. Interest on Late Payments All amounts due under this Agreement will bear compound interest at 12% per annum on the entire unpaid balance computed from the due date until the amount is paid. Royalty Payments/Sales Reports Within sixty (60) days after the last day of the fourth calendar quarter beginning in the calendar year in which Licensee, Sublicensee or Affiliate first sells a Licensed Product, Licensee shall provide to the University a written report (even if there are no sales) and earned royalty payment under Section 10.4 of the Business Terms in a form acceptable to the University. No Refund All amounts paid to the University (and, if applicable, all equity transferred to University under Section 10.1 of the Business Terms) are non-refundable.
Copy of Sublicenses and Sublicense Royalty Reports. Licensee shall submit to University within [***] of the effective date of a Sublicense a copy of such Sublicense in accordance with the terms of Section 3.1 of the General Terms, any subsequent amendments of the Sublicense and all copies of Sublicensee’s royalty reports. OTC Agreement Number: [***] OTC Case Number: [***]
Copy of Sublicenses and Sublicense Royalty Reports. Licensee shall submit to University a copy of each Sublicense, any subsequent amendments and all copies of Sublicensee’s royalty reports. Sharing of Sublicensing Consideration. Licensee shall pay to University a portion of Sublicense Consideration received from Sublicensee as provided in Section 10.6 of the Business Terms. PAYMENT, RECORDS, AND AUDIT Licensee’s Payment Obligation The Licensee shall pay all amounts under Section 7 and 10 of the Business Terms by the dates indicated therein. Licensee shall pay such amounts by wire transfer, check (payable to the “Regents of the University of Minnesota” and sent to: Regents of the University of Minnesota, NW 5960, XX Xxx 0000, Xxxxxxxxxxx, XX 00000-0000; reference agreement number on check), or any other method of payment specified by University. Licensee Responsible for Non-U.S. Taxes Licensee shall pay all non-U.S. taxes related to payments made to University under this Agreement. Interest on Late Payments All amounts due under this Agreement will bear compound interest at 12% per annum on the entire unpaid balance computed from the due date until the amount is paid. Security for Reimbursement of Patent-Related Expenses The University reserves the right to require that Licensee provide and maintain a reasonable advance deposit with the University or some other form of security to ensure payment of Patent-Related Expenses.
Copy of Sublicenses and Sublicense Royalty Reports. Licensee shall submit to University a copy of each Sublicense, any subsequent amendments and all copies of Sublicensee’s royalty reports.
