Common use of Creditable Payments Clause in Contracts

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: (A) if Medicenna pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna will not need to pay Stanford any earned royalty payment for that year. Medicenna will not be able to offset the remaining $7 against a future year’s earned royalties.

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: (A) if Medicenna Licensee pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.10 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Licensee will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna Licensee pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.10 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Licensee will not need to pay Stanford any earned royalty payment for that year. Medicenna Licensee will not be able to offset the remaining $7 against a future year’s earned royalties.

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: (A) if Medicenna FAB pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.5 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna FAB will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna If FAB pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.5 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna FAB will not need to pay Stanford any earned royalty payment for that year. Medicenna FAB will not be able to offset the remaining $7 against a future year’s earned royalties.

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: (A) if Medicenna Annexon pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.10 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Annexon will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna Annexon pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.10 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Annexon will not need to pay Stanford any earned royalty payment for that year. Medicenna Annexon will not be able to offset the remaining $7 against a future year’s earned royalties.

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: (A) if Medicenna Company pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.6 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Company will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna Company pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.6 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Company will not need to pay Stanford any earned royalty payment for that year. Medicenna Company will not be able to offset the remaining $7 against a future year’s earned royalties.

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. year.‌ For example: (A) if Medicenna Company pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 0 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Company will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna Company pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 6.3 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Company will not need to pay Stanford any earned royalty payment for that year. Medicenna Company will not be able to offset the remaining $7 against a future year’s earned royalties.

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: (A) if Medicenna Company pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.10 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Company will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna Company pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 7.10 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna Company will not need to pay Stanford any earned royalty payment for that year. Medicenna Company will not be able to offset the remaining $7 against a future year’s earned royalties.

Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: (A) if Medicenna pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna will only need to pay Stanford an additional $5 for that year’s earned royalties. (B) if Medicenna pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna will not need to pay Stanford any earned royalty payment for that year. Medicenna will not be able to offset the remaining $7 against a future year’s earned royalties.. S10-200, S10-200B AND S14-174 : GWK