Initial Canada Royalty Sample Clauses
Initial Canada Royalty. The Parties acknowledge and agree that the following consideration (collectively, the "Initial Canada Royalty") has been paid under the Original License Agreement:
3.1.1. Upon execution of the Original License Agreement, Valens paid to SoRSE a royalty of ;
3.1.2. Valens has issued to SoRSE:
3.1.2.1. a warrant to purchase which shall vest and be exercisable upon Health Canada's approval allowing CT beverages to be offered for sale, at an exercise price of ; and
3.1.2.2. a warrant to purchase , which shall vest and be exercisable upon the execution of a partnership between Valens and a spirits company for cannabis beverages, at an exercisable price of ; and
3.1.2.3. a warrant to purchase which have vested and is exercisable since the first anniversary of the Original License Agreement at an exercise price of per Valens Share of issuance.
Initial Canada Royalty. The Parties acknowledge and agree that the following consideration (collectively, the "Initial Canada Royalty") has been paid under the Original License Agreement:
3.1.1. Upon execution of the Original License Agreement, V▇▇▇▇▇ paid to SoRSE a royalty of **********;
3.1.2. V▇▇▇▇▇ has issued to SoRSE:
3.1.2.1. a warrant to purchase ********** which shall vest and be exercisable upon Health Canada's approval allowing CT beverages to be offered for sale, at an exercise price of **********; and
3.1.2.2. a warrant to purchase ********** which shall vest and be exercisable upon the execution of a partnership between Valens and a spirits company for cannabis beverages, at an exercisable price of **********; and
3.1.2.3. a warrant to purchase ********** which have vested and is exercisable since the first anniversary of the Original License Agreement at an exercise price of ********** per Valens Share ********** of issuance.