EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 Licensee shall also pay to The Regents an earned royalty on Net Sales as follows: (1) *** of the Net Sales of Type I Therapeutic Licensed Products; (ii) *** of the Net Sales of Type II Therapeutic Licensed Products; (iii) *** of the Net Sales of Diagnostic Licensed Product; and (iv) and *** of the Net Sales of any other Licensed Products and (v) *** of the Net Sales of a Licensed Product that is not covered by Regents Patent Rights but is identified from use of, covered by, utilizes or is developed from use of Regents’ Technology Rights.
7.2 Licensee shall pay to The Regents a minimum annual royalty of *** for the life of Regents’ Patent Rights, beginning with the year of the first commercial sale of any Licensed Product, but no later than December 2011. For the first year of commercial sales, Licensee’s obligation to pay the minimum annual royalty will be pro-rated for the number of months remaining in that calendar year when commercial sales commence and will be due the following March 31, to allow for crediting of the pro-rated year’s earned royalties. For subsequent years, the minimum annual royalty will be paid to The Regents by March 31 of each year and will be credited against the earned royalty due for the calendar year in which the minimum payment was made.
7.3 Licensee shall, however, be entitled to reduce the earned royalty provided for in Paragraph 7.1 in the event that it becomes necessary (either by order or judgment of any court or otherwise) for Licensee to license patent rights owned by third parties to make, have made, use or sell Licensed Product. Such reduction shall be equal to *** of any payment made to such third party under such license against up to *** of the amounts payable to The Regents under Paragraph 7.1 above on a going forward basis. Credits with respect to this Paragraph shall be available to Licensee with respect to the full royalty payable pursuant to Paragraph 7.1 and no such credit shall be available with respect to any Combination Product.
7.4 Royalties payable under this Article will be payable only once with respect to a particular Licensed Product or Licensed Method and will be paid only once regardless of the number of patents, or patent applications in Regents Patent Rights covering such Licensed Product or Licensed Method. In the event any Licensed Product qualifies as more than one type of Licensed Product under this Agreement, only the highest earned royalty percentage amongst the relevant types of License...
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 The Licensee shall also pay to The Regents AN EARNED ROYALTY as follows: [ * ] of the first [ * ] Dollars ($[ * ]) of cumulative Net Sales of Licensed Products or Licensed Methods; [ * ] thereafter until cumulative Net Sales reaches [ * ] Dollars ($[ * ]); and [ * ] of the cumulative Net Sales of Licensed Products and Licensed Methods in excess of [ * ] Dollars ($[ * ]).
7.2 The Licensee shall pay to The Regents a MINIMUM ANNUAL ROYALTY of [ *] Dollars ($[ * ]) beginning with the year of the first commercial sale of Licensed Product; [ * ] dollar ($[ * ]) in the second year of first commercial sale and [ * ] Dollars ($[ * ]) per year for the life of Regents Patent Rights. For the first year of commercial sales, the Licensee's obligation to pay the minimum annual royalty will be pro-rated for the number of months remaining in that calendar year when commercial sales commence and will be due the following February 28, to [ * ]Confidential Treatment Requested
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 Licensee shall pay to The Regents an earned royalty of one percent (1%) of the Net Sales of Licensed Technology by Licensee or any Affiliate or Joint Venture.
7.2 In the event it becomes necessary for Licensee to license any patent or other intellectual property rights owned or controlled by a third party in order for Licensee to make, have made, use or sell, have sold, offer to sell or import Licensed Technology or to otherwise exercise Licensee's rights under this Agreement ("Third Party Intellectual Property"), then Licensee shall be entitled to deduct fifty percent (50%) of any payment due to such third party under such license with respect to such Third Party Intellectual Property from the Royalties payable to The Regents under Paragraph 7.1 above and the Revenue Share Payments payable to The Regents under Article 6 (Payments on Sublicenses), provided, however, that in no event shall the total amount of such deduction by Licensee exceed fifty percent (50%) of the total amounts due to the Regents under Paragraph 7.1 and Article 6 (Payments on Sublicenses). Any such deduction shall be made by Licensee in the calendar quarter as to which payments are due to The Regents corresponding to the calendar quarter in which payments are due to the third party with respect to such Third Party Intellectual Property.
7.3 Licensee shall pay to The Regents a minimum annual royalty of five thousand dollars ($5,000) for the life of Regents' Patent Rights, beginning with the year in which the first Final Sale occurs. The minimum annual royalty will be paid to The Regents by February 28 of each year following the year in which the first Final Sale occurs, and will be credited against the earned royalty due for the calendar year in which the minimum payment was made.
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 Unless provided to the contrary in Section 7.2 and 7.3, Licensee shall pay to The Regents a royalty on worldwide Net Sales according to the following schedule for therapeutic applications only: [*] on sales of less than [*] [*] on sales greater than [*], but less than [*] [*] on sales greater than [*], but less than [*] [*] on sales greater than [*], but less than [*] [*] on sales greater than [*], but less than [*] [*] on sales greater than [*], but less than [*] [*] on sales greater than [*]. Unless provided to the contrary in Sections 7.2, Licensee shall pay to The Regents a royalty of on worldwide Net Sales according to the following schedule for diagnostic applications only: - [*] on sales of Licensed Product in which the Licensed Method is supplemented by monoclonal antibodies which are not included in The Regents Patent Rights; - [*] on sales of Licensed Product in which the monoclonal antibodies of Licensed Method are utilized without modification or supplementation by Licensee;
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 The Licensee will also pay to The Regents an earned royalty of (i) [***] of the Net Sales of Licensed Product or Licensed Method by the Licensee or any Affiliate or Joint Venture; and (ii) [***] of any Service Income of the Licensee, any Affiliate or Joint Venture (“Royalty”).
7.1.1 In the event that any Licensed Product or Licensed Service falls under more than one of categories (i) or (ii) described in Article 7.1, only the higher royalty rate applicable shall apply.
7.1.2 No more than one royalty shall be paid to The Regents with respect to each unit of Licensed Product, Licensed Service, or Licensed Method.
7.2 The Licensee will also pay to The Regents a minimum annual royalty of fifteen thousand dollars ($15,000) for the life of Patent Rights, beginning on the second anniversary of the Effective Date. After the first payment of the minimum annual royalty, the minimum annual royalty will be paid to The Regents by February 28 of each year and will be credited against the Earned Royalty due for the calendar year in which the minimum payment was made.
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 9.1 The Licensee will also pay to The Regents an earned royalty on the Net Sales of each Licensed Product, Licensed Method or Licensed Service by the Licensee or any Affiliate or Joint Venture as provided for in Paragraphs 9.2 and 9.3 below (“Royalty”).
9.2 For each Licensed Product, Licensed Method or Licensed Service covered by a patent application or patent included in Patent Rights as of the Effective Date of the Agreement, the royalty rate for that Licensed Product, Licensed Method or Licensed Service shall be as follows:
9.2.1 For a Licensed Product, Licensed Method or Licensed Service where a First Commercial Sale occurs within three (3) years after the Effective Date, two and one-half percent (2.5%) of Net Sales;
9.2.2 For a Licensed Product, Licensed Method or Licensed Service where a First Commercial Sale occurs between three (3) and six (6) years after the Effective Date, four percent (4%) of Net Sales; or
9.2.3 For a Licensed Product, Licensed Method or Licensed Service where a First Commercial Sale occurs beyond six (6) years after the Effective Date, five percent (5%) of Net Sales.
9.3 For Licensed Products, Licensed Method or Licensed Service covered by a patent application or patent included in Patent Rights by amendment after the Effective Date of the Agreement, the royalty rate shall be as follows:
9.3.1 For a Licensed Product, Licensed Method or Licensed Service where a First Commercial Sale occurs within three (3) years after the effective date of the amendment under which the patent application or patent is included in Patent Rights, two and one-half percent (2.5%) of Net Sales;
9.3.2 For a Licensed Product, Licensed Method or Licensed Service where a First Commercial Sale occurs between three (3) and six (6) years after the effective date of the amendment under which the patent application or patent is included in Patent Rights, four percent (4%) of Net Sales; or
9.3.3 For a Licensed Product, Licensed Method or Licensed Service where a First Commercial Sale occurs beyond six (6) years after the effective date of the amendment under which the patent application or patent is included in Patent Rights, five percent (5%) of Net Sales.
9.4 In the event that the Licensee, an Affiliate or Joint Venture uses the Licensed Products or practices the Licensed Method internally as a research tool (but excluding Licensee’s research and development efforts to develop Licensed Products, Licensed Methods and Licensed Services), then the Licensee will ...
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 The Licensee or Sublicensee will also pay to The Regents the following earned royalties (“Earned Royalties”): [***]% of Net Sales of PRPS-2 Products [***]% of Net Sales of the first two Licensed R&D Products
7.2 The Licensee will also pay to The Regents a minimum annual royalty of [***] dollars ($[***]) for the life of Patent Rights, [***] during the term of this Agreement. The minimum annual royalty will be paid to The Regents within [***] of the anniversary of the Effective Date and will be credited against the Earned Royalty due for the calendar year in which the minimum payment was made.
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 The Licensee shall also pay to The Regents an EARNED ROYALTY of one and one half percent (1.5%) of the Net Sales of Licensed Products.
7.2 The Licensee shall pay to The Regents a MINIMUM ANNUAL ROYALTY of Ten Thousand Dollars ($10,000) due on August 31, 1999, and Fifteen Thousand Dollars ($15,000) on February 28, 2000 and each year thereafter for the life of Regents' Patent Rights. For the first year of commercial sales, the Licensee's obligation to pay the minimum annual royalty will be pro-rated for the number of months remaining in that calendar year when commercial sales commence and will be due the following February 28, to allow for crediting of the pro-rated year's earned
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 As partial consideration for the rights granted by The Regents under this Agreement, Licensee will pay to The Regents an earned royalty of [****] of Net Sales.
7.2 Licensee will pay to The Regents minimum annual royalties as follows: · [****] in 2013; · [****] in 2014; · [****] in 2015; · [****] beginning in 2016 and continuing in each subsequent year for the life of this Agreement. The minimum annual royalties shall be paid to The Regents by May 31 of each calendar year and will be credited against the earned royalty due for the calendar year in which the minimum annual royalty payment was due. The minimum annual royalties are non-refundable and non-cancelable once due.
EARNED ROYALTIES AND MINIMUM ANNUAL ROYALTIES. 7.1 Licensee shall also pay to The Regents an earned royalty on the Net Sales of Licensed Product or Licensed Method as follows:
7.2 In the event that any Licensed Product qualifies as more than one type of Licensed Product under this Agreement, only the highest earned royalty percentage amongst the relevant types of Licensed Product shall apply.
7.4 Licensee shall pay to The Regents a minimum annual royalty for the life of Regents’ Patent Rights beginning in the year of the first commercial sale of Licensed Product or Licensed Method but no later than the calendar year 2004. Minimum annual royalties shall be as follows:
7.4.2 7.4.3 *** 7.4.4 ***
