Failure to Pay Royalties. Should LICENSEE fail in its payment to UKRF of royalties due in accordance with the terms of this Agreement, UKRF shall have the right to serve notice upon LICENSEE by certified mail at an address designated in Article 12 hereof, of its intention to terminate this Agreement within ninety (90) days after receipt of said notice of termination unless LICENSEE shall pay UKRF within the ninety (90) day period. If such ninety (90) day period expires and if the amount of royalties due is not paid by LICENSEE, the rights, privileges and license granted hereunder shall terminate upon the end of such ninety (90) day period.
Failure to Pay Royalties. Should LICENSEE fail in its payment to BURF ------------------------ of royalties which are due in accordance with the terms of this Agreement, BURF shall serve notice upon LICENSEE by certified mail at an address designated in Article 11 hereof, of its intention to terminate this Agreement within ninety (90) days after receipt of said notice of termination unless LICENSEE shall pay BURF within this ninety (90) day period. If LICENSEE has not paid all royalties which are due and payable within such ninety (90) day period, the rights, privileges and license granted hereunder shall terminate at the end of the ninety (90) day period. If the amount of royalties due is contested by LICENSEE, the rights, privileges and license granted hereunder shall terminate ninety (90) days after the resolution of such dispute, but only if the amount due still remains unpaid at the end of such ninety (90) day period. In the event that royalties are due after the resolution of such dispute the amount due shall accrue interest at the average prime rate per annum compounded annually from the date such amount was due until the amount is paid in full.
Failure to Pay Royalties. If Licensee fails to pay Licensor any royalties due and payable under this Agreement, then Licensor may terminate this Agreement upon ninety (90) days prior written notice unless Licensee pays Licensor within the ninety (90) day period all such uncontested royalties and interest due and payable. Upon the expiration of the ninety (90) day period, if Licensee has not paid all such royalties and interest due and payable, the rights, privileges and licenses granted to Licensee under this Agreement will immediately terminate.
Failure to Pay Royalties. Should Immunivest fail in its payment to Institution of royalties due in accordance with the terms of this Agreement, Institution shall have the right to serve notice upon Immunivest by certified mail at the address designated in Article II hereof, of its intention to terminate this Agreement within thirty (30) days after receipt of said notice of termination unless Immunivest shall pay to Institution, within the thirty (30) day period, if Immunivest shall not have paid all such royalties due and payable, the rights, privileges and license granted hereunder shall thereupon immediately terminate.
Failure to Pay Royalties. Sublicensor has the option to terminate this Agreement as provided in Section 3.3.
Failure to Pay Royalties. In the event of termination of this Agreement by NetSpeak pursuant to Section 10.2(a) due to a breach by Motorola of Section 1 or 7 (failure to pay royalties) through a failure to substantially perform material obligations thereunder: (i) the disputed amount of such royalties shall be placed into the custody of a mutually acceptable escrow agent pending resolution of the disputed royalty amount; (ii) the amount of royalties Motorola must pay to NetSpeak (which royalty rates are determined based on product volumes) shall increase to the next highest rate (if any) until such time as Motorola's sales of RF Products, NetSpeak Products or Derivative Works reach the next highest volume break where Motorola would otherwise be entitled to a lower rate (if any) (for purposes of clarity, if applicable, Section 7.3 shall continue to apply); and (iii) if such breach is intentional, Motorola shall pay NetSpeak * million as liquidated damages for such breach (without duplication of any amount paid pursuant to Section 10.3.1.2); provided that if Motorola cures such breach within twelve months of the date of termination, NetSpeak shall refund to Motorola a pro-rated amount of the * million payment (based on the number of months as to which such breach remained uncured) and the termination shall be deemed rescinded (and the parties shall be returned to the status quo prior to such termination).
Failure to Pay Royalties. Should LICENSEE fail in its payment to XXXXX of royalties due in accordance with the terms of this Agreement, XXXXX shall have the right, subject to LICENSEE's right hereunder to dispute any amounts due, to serve notice upon LICENSEE by certified mail at an address designated in Article 11 hereof, of its intention to terminate this Agreement within ninety (90) days after receipt of said notice of termination unless LICENSEE shall pay XXXXX within the ninety (90) day period, and if the amount of royalties due is uncontested by LICENSEE, the rights, privileges and license granted hereunder shall terminate upon the end of such ninety (90) day period if such amount remains unpaid. Upon the receipt by XXXXX of a royalty payment from LICENSEE, XXXXX shall have a period of sixty (60) days to send a notice to LICENSEE of its intention to dispute the amount due regarding such payment. Upon receipt by LICENSEE of a notice pursuant to the first sentence of this Section, LICENSEE shall, during the ninety (90) day period referred to therein have a right to send a notice to XXXXX of its dispute of XXXXX'x claim. In either case, upon receipt of such notice, the parties hereto will work expeditiously and in good faith in an attempt to resolve such disputes within a period of ninety (90) days after the date of such notice, failing which such disputes shall be submitted for determination to a national accounting firm mutually decided upon by both parties; the determination of the accounting firm shall be made within forty-five (45) days, shall be final and binding on the parties hereto and not subject to appeal (the "FINAL DECISION"), and any payment by a party to the other party following the resolution of any dispute in accordance with the foregoing shall be made forthwith upon such a resolution. The cost and expenses of the accounting firm shall be borne equally by the parties hereto. LICENSEE and XXXXX shall each bear their own costs in presenting their respective cases to the accounting firm. In the even that royalties are due after the resolution of such dispute, the amount due shall accrue simple interest at the average prime rate plus two (2) as established in the Wall Street Journal for the period from the date such amount shall have been due until such amount is paid in full.
Failure to Pay Royalties. In the event that LICENSEE fails to meet its obligations under Section 5, LICENSOR may not file a patent infringement suit and is limited to only filing a breach of contract action seeking to collect the unpaid royalties. However, prior to filing any such action, LICENSOR must provide written notice to LICENSEE, followed by a thirty (30) day period during which LICENSEE may cure any breaches, and if such breaches are not cured during that thirty (30) day period, there shall be another thirty (30) day period during which the parties shall negotiate in good faith to resolve their dispute. Any action for breach of this Settlement and License Agreement will be submitted to the American Arbitration Association and the decision of a single arbitrator shall be deemed binding on both Parties. In any such action, the parties agree that time is of the essence and agree that the discovery period shall not be longer than 60 days. The parties also agree to jointly ask the arbitrator to issue his/her decision within 150 days from initiation of the action. If the arbitrator decides to hold a hearing/trial in any such action, such hearing/trial shall be held in Dallas, Texas or Phoenix, Arizona. The arbitrator shall have experience with patent license disputes.
Failure to Pay Royalties. Should Influence fail to make one or more of the royalty payments to TTI as set forth in Section 5.4 above, TTI or Influence shall have the option of terminating this Agreement after providing the other party with thirty (30) day prior written notice of intent to terminate this Agreement. Should TTI elect to terminate this Agreement due to failure of Influence to make one or more of the royalty payments, Influence shall be afforded this thirty (30) day period in which to remedy the failure. If Influence fails to remedy the failure within 30 days, TTI may elect to terminate the Agreement. Should either party elect to terminate the Agreement, all rights granted to Influence under this Agreement shall terminate and immediately revert to, and vest in, TTI, and absolutely no interest whatsoever in any of such rights, in whole or in part, shall thereafter remain in Influence or any of its subcontractors, sublicensees, agents, employees or shareholders, or any person or entity in any way affiliated with or related to Influence. Furthermore, should either party elect to terminate this Agreement, Influence shall cease any manufacture or sale or license of any products which incorporate or are based on the Technology and shall return immediately to TTI and Titan the Operating Prototype and any and all samples, specifications, data sheets, drawings, designs, photographs, or other electronic records or writings in any language and any other documents or materials furnished by TTI or Titan to Influence or otherwise obtained from TTI or Titan under this Agreement or as a result of any relationships, situations or opportunities created by this Agreement, including any and all translations, copies or reproduction thereof and any and all similar materials in any way, in whole or in part, based thereon, generated thereby, derived therefrom or relating thereto, as well as any and all similar materials which in any way contain, reflect or relate to any and all TTI Confidential Information obtained by Influence as a result of this Agreement or any relationships, situations or opportunities created thereby and any and translations, copies and reproductions of such materials. Both Influence and TTI agree that should either party elect to terminate this Agreement, Influence is under no contractual obligation to make further royalty payments, including the minimum royalty payments specified in Section 5.4 (b).
Failure to Pay Royalties. (i) If Producer at any times fails to make any Royalty payment when due (time being ofthe essence of this Agreement) Licensor may send Producer written notice to correct such failure or breach. Producer shall either correct such breach within 5 days ofreceipt of notice, or if Producer disagrees with Licensor's allegations, Producer shall send Licensor written notice thereof within 5 days of receipt ofnotice and either party shall immediately submit the dispute to the courts of applicable law as provided in Section 6.03 herein.
