License Fee-Royalties Sample Clauses
The License Fee-Royalties clause defines the financial obligations of the licensee to pay the licensor for the right to use certain intellectual property, such as patents, trademarks, or copyrighted materials. Typically, this clause outlines how royalties are calculated—whether as a percentage of sales, a fixed fee per unit, or a lump sum—and specifies the payment schedule and reporting requirements. Its core practical function is to ensure that the licensor is fairly compensated for the use of their intellectual property, while providing clear terms to prevent disputes over payment.
License Fee-Royalties. In addition to the Development Milestone Fee, and in consideration of the license rights granted to SciSparc as set forth under section 6 herein, SciSparc shall pay to Polyrizon the following royalties (the “Royalties”):
4.4.1. For sales of the Product by SciSparc, SciSparc shall pay Polyrizon an amount equal to 3.25% of the Net Income actually received by SciSparc.
4.4.2. For sales of the Product by a sublicensee of SciSparc, SciSparc shall pay Polyrizon an amount equal to 35% of the income actually received by SciSparc from the sublicensee.
License Fee-Royalties. In addition to the Development Milestone Fee, and in consideration of the license rights granted to Nurexone as set forth under section 6 herein, Nurexone shall pay to Polyrizon the following royalties (the “Royalties”):
4.4.1. For sales of the Product by Nurexone that generate an income of between US$ 50,000 and US$ 2,500,000 Nurexone shall pay Polyrizon an amount equal to 2.25% of the Net Income actually received by Nurexone.
4.4.2. For sales of the Product by Nurexone that generate an income of between US$ 2,500,000 and US$ 10,000,000 Nurexone shall pay Polyrizon an amount equal to 2.75% of the Net Income actually received by Nurexone.
4.4.3. For sales of the Product by Nurexone that generate an income greater than US$ 10,000,000 Nurexone shall pay Polyrizon an amount equal to 3.25% of the Net Income actually received by Nurexone.
4.4.4. For sales of the Product by a sublicensee of Nurexone, Nurexone shall pay Polyrizon an amount equal to 35% of the income actually received by Nurexone from the sublicensee.
License Fee-Royalties. 4.1 At the signing of this Agreement, the UBC Parties will pay Bionovo a one-time, non-refundable fee of US$150,000 at the signing of this agreement. Bionovo acknowledges that it received [*] of that payment before signing this Agreement, in consideration of its ongoing negotiation with the UBC Parties.
4.2 Upon the completion of the phase II trial, UBC will pay Bionovo an amount to be discussed at that time in US$ in order to complete the additional specific requirements for CMC by Taiwan DOH. The schedule for the payment of the amount US$ will be determined by a mutually agreed upon timeline. In the event Bionovo did not secure additional funding for the complete required CMC and ADMET, as required by US FDA, UBC will have the option to negotiate with Bionovo the independent completion the above mentioned CMC and ADMET work. The terms of exercising this option will be mutually agreed upon based on expense and scientific evaluation of the process by both parties.
4.3 UBC will pay to Bionovo a royalty fee (the "Royalty Fee") in the amount of [*] of total monetary consideration received by UBC for -------- * This information has been omitted and is subject to a request for confidential treatment with the Securities and Exchange Commission. Pharmaceuticals sold ("Net Sales"). However, if no patent(s) is granted in the territory to one of the Pharmaceuticals, the Royalty Fee for the said Pharmaceutical shall be [*] after five years from the time the product was launched.
4.4 Bionovo and its representatives (including auditors) will have the right to examine UBC's books and record at any reasonable time on reasonable notice for the purpose of verifying Net Sales. All expenses arising from the examination of UBC's accounts will be borne by Bionovo. However, if Net Sales reported to Bionovo are more than [*] less than Net Sales determined by independent auditors engaged by Bionovo, UBC will pay 100% of the expenses of the examination of UBC' accounts. All information and documents examined will be kept strictly confidential.
4.5 UBC will pay the Royalty Fee to Bionovo quarterly, within [45 calendar] days after the end of each calendar quarter.
4.6 All payments and transfers made by UBC to Bionovo will be subject to the relevant withholding taxes prescribed by R.O.C. law.
4.7 UBC will pay pursuant to Article 3, within 30 calendar days of the date of any reimbursement request, Bionovo's expenses related to (i) quarterly site visit of each of the clinical trials, (...
License Fee-Royalties. As additional consideration for the rights granted to the Distributor under this Agreement, (a) Distributor shall make a payment to Company of (i) US$ * on the Effective Date, (ii) US$ * within thirty (30) days following the completion of the efficacy and safety analysis of the European Phase III clinical trial of the Product in general surgery patients, (iii) US$ * within thirty (30) days of Regulatory Approval of the Product in the United States or the European Union, (iv) US$ * within thirty (30) days of Regulatory Approval of the Product in the Territory; and (b) Distributor shall pay Company a * royalty on Net Sales of the Product in the Territory. Distributor’s obligations under Section 7.1(b) shall continue for the longer of (a) ten (10) years from the First Commercial Sale of the Product in the Territory or (b) the expiration of the last to expire of the patents utilized by or in the Product in the Territory. * Certain information in this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
License Fee-Royalties