License Fees and Royalty. 2.1 Licensee will pay to Licensor the License/Development Fees set forth in the Specific License Terms.
2.2 When applicable, Licensee will pay to Licensor the Royalties at the rate and on the schedules specified in the Specific License Terms, or any addendums or amendments. Royalties shall be due quarterly on the 15th day following the end of each fiscal quarter, for sales made in the previous three-month period. All Royalties shall be paid in immediately available U.S. funds.
2.3 If Licensor does not receive from Licensee the full amounts due on or before the day upon which such amounts are due and payable, such outstanding amounts will thereafter bear interest until payment at the maximum rate permissible by applicable law, but in no event to exceed 18% per annum. If the Licensee is more than 90 days delinquent in paying royalties, then this Agreement may be terminated by the Licensor. Amounts received by Licensor will first be credited against any unpaid interest and accrual of such interest will be in addition to and without limitation of any and all additional rights or remedies that Licensor may have under this Agreement or at law or in equity. Licensee agrees to pay all reasonable expenses in connection with the collection of any late payment.
License Fees and Royalty. 2.1 Licensee will pay to Licensor the Development Fees and License Fees set forth in the Specific License Terms.
2.2 Licensee will pay to Licensor the Royalties as the rate specified in the Specific License Terms, or any addendums or amendments, within 20 days after the first day of each calendar Quarter hereafter during the Term of this Agreement. All Royalties shall be paid in U.S. funds. Minimum Annual Royalties, as set forth in the Specific License Terms, shall also be calculated on a quarterly basis, and any difference between actual Royalties earned and the Minimum Annual Royalties due (pro-rated quarterly) shall be paid within 20 days of the end of the calendar Quarter.
2.3 If Licensor does not receive from Licensee the full amounts due on or before the day upon which such amounts are due and payable, such outstanding amounts will thereafter bear interest until payment at the maximum rate permissible by applicable law, but in no event to exceed 16% per annum. Amounts received by Licensor will first be credited against any unpaid interest and accrual of such interest will be in addition to and without limitation of any and all additional rights or remedies that Licensor may have under this Agreement or at law or in equity. Licensee agrees to pay all reasonable expenses in connection with the collection of any late payment.
License Fees and Royalty. 00 LICENSEE shall, as a license fee, pay to LICENSOR the sum [***] [***] Confidential Treatment Requested [***]
License Fees and Royalty. The grant of this LICENSE for accounting purposes will be valued at Fifty Eight Thousand Dollars ($58,000) and include a ROYALTY. The consideration to the LICENSOR by the Company shall be the right to purchase Fifty Eight Thousand Dollars ($58,000) of Common Stock at $.0677 per share, which is the Book Value Per Share of the Common Stock as of December 31, 2000. The LICENSOR must purchase 856,721 shares of restricted common stock within 10 business days of this agreement or execute a promissory note in the amount of Fifty Eight Thousand Dollars ($58,000), due in Ninety (90) days with interest at Seven (7%) per annum.
License Fees and Royalty. 2.1 Licensee will pay to Licensor the License and Development Fees set forth in the Specific License Terms.
2.2 Licensee will pay to Licensor the Royalties at the rate and on the schedules specified in the Specific License Terms, or any Addendums or Amendments. Royalties shall be due quarterly on the 15th day following the end of each fiscal quarter, for sales made in the previous three-month period. All Royalties shall be paid in immediately available U.S. funds.
2.3 If Royalties paid to Licensor in any given fiscal quarter are less than 10% of the total royalty Sales Quota required for that entire year to maintain exclusivity, as will be attached hereto in Addendum or Amendment, Licensor may require Licensee to pay the royalty Sales Quota on a quarterly basis (calculated by the total Sales Quota for that year, divided by 4, and multiplied by the highest applicable Royalty rate).
2.4 If Licensor does not receive from Licensee the full amounts due on or before the day upon which such amounts are due and payable, such outstanding amounts will thereafter bear interest until payment at the maximum rate permissible by applicable law, but in no event to exceed 18% per annum. Amounts received by Licensor will first be credited against any unpaid interest and accrual of such interest will be in addition to and without limitation of any and all additional rights or remedies that Licensor may have under this Agreement or at law or in equity. Licensee agrees to pay all reasonable expenses in connection with the collection of any late payment. Until such time that the Licensee has provided two (2) years of Phase II Royalties to Licensor, or Licensee has over US$1,000,000 in verifiable assets, whichever is sooner, Guarantors will guarantee all payments to Licensor under this Agreement. Such timeframe shall not limit Guarantors’ liability for failure to protect Licensor’s IP due to their negligence or misconduct.
License Fees and Royalty. LICENSEE shall, on the EFFECTIVE DATE, by cash or by note, subject to approval by the LICENSOR, due not later than June 30, 2000, as a one time only LICENSE FEE, pay to LICENSOR, Fifty Thousand Dollars ($50,000), which shall be non-refundable and credited against the ROYALTY called for under Section 4.01.
License Fees and Royalty. LICENSEE, for and in consideration of, and as a condition of granting this license, hereby agrees to pay LICENSOR the fees and royalties set forth in Schedule A, which is attached hereto and made a part hereof by reference.
License Fees and Royalty. 2.1 Licensee will pay to Licensor the License/Development Fees set forth in the Specific License Terms.
2.2 Licensee will pay to Licensor the Royalties at the rate and on the schedules specified in the Specific License Terms, or any addendums or amendments. Royalties shall be due quarterly on the 15th day following the end of each fiscal quarter, for sales made in the previous three-month period. All Royalties shall be paid in immediately available U.S. funds.
2.3 If Royalties paid to Licensor in any given fiscal quarter are less than 10% of the total royalty Sales Quota required for that entire year to maintain exclusivity, Licensor may require Licensee to pay the royalty Sales Quota on a quarterly basis (calculated by the total Sales Quota for that year, divided by 4, and multiplied by the highest applicable Royalty rate. With respect to Sales Quotas in years 1 and 2 combined, that figure would be divided by 8.)
2.4 If Licensor does not receive from Licensee the full amounts due on or before the day upon which such amounts are due and payable, such outstanding amounts will thereafter bear interest until payment at the maximum rate permissible by applicable law, but in no event to exceed 18% per annum. Amounts received by Licensor will first be credited against any unpaid interest and accrual of such interest will be in addition to and without limitation of any and all additional rights or remedies that Licensor may have under this Agreement or at law or in equity. Licensee agrees to pay all reasonable expenses in connection with the collection of any late payment.
License Fees and Royalty. Snap-on shall, as a license fee, pay to IGT, as defined below, the sum of $500,000 as a one time only fully paid-up license fee. No further payments or royalties of any kind shall be due to IGT after the above described license fee has been paid in full as set forth below.
License Fees and Royalty
