Common use of Guidance Note for clause 4 Clause in Contracts

Guidance Note for clause 4. This clause sets out the Licensee's obligation to pay the Fees specified in Schedule 3. This clause also sets out the applicable payment terms (including requirements for invoicing and late payments), and the reporting requirements (which may be relevant if for example the Fees are based on sales or revenue). The parties should seek further commercial advice on appropriate fee structures for their transaction. Fees and payment