Earned Royalty. In consideration of its license to the Know-How under this Agreement, Synergy shall pay to Hand a royalty of 5% of the Net Sales Price of each Licensed Product sold, transferred or otherwise disposed of by or for Synergy in the Territory during Term pursuant to Section 2.1, not including Sublicensing Royalty (“Earned Royalty”), and 5% of all amounts received by Synergy from any sublicenses granted pursuant to Section 2.2 (“Sublicensing Royalty; the Earned Royalty and Sublicensing Royalty shall be collectively the “Royalties”).
Appears in 4 contracts
Samples: Intellectual Property License Agreement (Synergy CHC Corp.), Intellectual Property License Agreement (Synergy CHC Corp.), Intellectual Property License Agreement (Synergy CHC Corp.)
