Common use of License Maintenance Fees Clause in Contracts

License Maintenance Fees. COMPANY shall pay to M.I.T. the following license maintenance fees on the dates set forth below: This annual license maintenance fee is nonrefundable; however, the license maintenance fee may be credited to running royalties subsequently due on NET SALES earned during the same calendar year, if any. License maintenance fees paid in excess of running royalties due in such calendar year shall not be creditable to amounts due for future years.

License Maintenance Fees. COMPANY shall pay to M.I.T. the following license maintenance fees on the dates set forth below: January 1, 2003 $25,000 January 1, 2004 $50,000 and each January 1 of every year thereafter $50,000 This annual license maintenance fee is nonrefundable; however, the license maintenance fee may be credited to running royalties subsequently due on NET SALES earned during the same calendar year, if any. License maintenance fees paid in excess of running royalties due in such calendar year shall not be creditable to amounts due for future years.

License Maintenance Fees. COMPANY LICENSEE shall pay to M.I.T. LICENSOR the following license maintenance fees on the dates set forth below: This annual license maintenance fee is nonrefundable; however, the license maintenance fee running royalties due on NET SALES paid during the previous 12-month period, if any, may be credited to running royalties subsequently due on NET SALES earned during the same calendar year, if anylicense maintenance fee. License maintenance fees paid in excess of running royalties due in such calendar year 12-month period shall not be creditable to amounts due for future years.