License Royalties Sample Clauses
The License Royalties clause defines the financial terms under which the licensee must pay the licensor for the right to use certain intellectual property. Typically, this clause specifies the royalty rate, the calculation method (such as a percentage of sales or a fixed fee per unit), and the payment schedule. It may also outline reporting requirements and audit rights to ensure accurate payments. The core function of this clause is to ensure the licensor is fairly compensated for the use of their intellectual property, while providing clear guidelines for both parties to avoid disputes over payments.
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License Royalties. 9.01 The license granted in Paragraph 8.01 shall be royalty-bearing, based on the following two-tier royalty structure, with the exact royalties to be negotiated for each generation of LAD commercialized by or on behalf of Grace at the time the relevant Cedars-Sinai LAD Technology is available for use. A lower royalty shall be paid for the use of Cedars-Sinai know-how only (that is, if no patents are included in the licensed Cedars-Sinai LAD Technology). A higher royalty would be paid in the event the commercial LAD is covered by one or more Licensed Patents. No double royalty would be paid. It is acknowledged by the parties that the presence or absence of patent coverage for the relevant Cedars-Sinai LAD Technology may vary by country and that the appropriate royalty from the two-tier structure will be determined on a country-by-country basis.
9.02 The Cedars-Sinai LAD Technology is available for use insofar as it covers the Cedars-Sinai First Generation LAD, which has been patient-tested and which is now ready for use in conducting clinical trials and proceeding to obtain regulatory approvals for the First Generation LAD. The Cedars-Sinai First Generation LAD comprises [*]. The royalty rate for the Cedars-Sinai First Generation LAD shall be [*] of the Net Sales Price for each LAD sold by Grace or a Grace sublicensee into the chain of distribution.
9.03 Subject to the royalty credit of Paragraph 9.06, the earned royalty of Paragraph 9.01 shall be payable by Grace to Cedars-Sinai based on the cumulative Annual Net Sales of LADs for each Annual Royalty Period. All royalties due Cedars-Sinai by Grace under this Agreement shall be payable in U.S. dollars, with the rate of exchange for any non-U.S. currencies received for any sales being the exchange rate specified in the American edition of the Wall Street Journal. U.S.-dollar equivalence shall be calculated on a quarterly basis, using the average of the exchange rate on the first and last business day of the quarter for each of the currencies in which sales of LAD(s) were made during the quarter.
9.04 The earned royalties of Paragraph 9.01 shall be payable only once for any LAD.
9.05 All patent expenses paid by Grace pursuant to Article XII would serve as a credit against future royalties owed to Cedars-Sinai under the license granted in Article VIII.
(a) An accounting of the calculation of the earned royalties by Grace shall accompany each royalty payment, and such an accounting shall be delivered to Cedars...
License Royalties. 6.1 At S3's discretion, S3 may license Intellon's patent claims that are necessary to implement chipsets complying with the HomePlug 1.X Specifications **********. In addition, S3 may license Intellon's Technology embodied in the Chipset that is licensable at no additional cost to Intellon for a specific field of use **********. Nothing in this Agreement will limit S3 from developing, licensing or manufacturing its own chipsets.
License Royalties. 1. In consideration of the rights and license granted to IOMED to the ELAN IONTOPHORETIC PATENT RIGHTS by virtue of this Agreement, IOMED shall pay to ELAN, the sum of (****) United States Dollars (****) in cash by wire transfer due upon execution of this Agreement and payable within two business days of the EFFECTIVE DATE.
License Royalties. 5.2.1 In consideration of the rights and licence granted to Acorda to the Elan Patent Rights by virtue of the SCI Agreement, Acorda has paid to Elan $5,000,000 (five million United States Dollars); and
5.2.2 In consideration of the rights and licence granted to MS R & D to the Elan Patent Rights by virtue of the MS Agreement, MS R & D has paid to Elan $15,000,000 (fifteen million United States Dollars) – receipt of each of which is hereby acknowledged by Elan.
License Royalties. 3.1 In partial consideration for the license granted by STANFORD to RIGEL under Section 2.1, RIGEL agrees to pay to STANFORD the following:
(a) An initial, nonrefundable license issue royalty of [ * ], which amount shall be paid within thirty (30) days after the Effective Date.
(b) A royalty payment equal to [ * ] on each of the first three (3) anniversaries of the Effective Date. After the third (3rd) anniversary of the Effective Date, the sublicense shall be considered perpetual and fully paid-up.
License Royalties. 1. In consideration of the rights and license granted to IOMED to the DDS IONTOPHORETIC PATENT RIGHTS by virtue of this Agreement, IOMED shall pay to DDS, the sum of **** United States Dollars **** in cash by wire transfer due upon execution of this Agreement and payable within two business days of the EFFECTIVE DATE.
License Royalties. 3.1 In partial consideration for the license granted by STANFORD to RIGEL under Section 2.1, RIGEL agrees to pay to STANFORD the following:
(a) An initial, nonrefundable license issue royalty of [ * ], which amount shall be paid within thirty (30) days after the Effective Date.
(b) A royalty payment equal to [ * ] on each of the first three (3) anniversaries of the Effective Date. After the third (3rd) anniversary of the Effective Date, the sublicense shall be considered perpetual and fully paid-up.
3.2 If RIGEL grants to Cell Genesys a sublicense under the Licensed Biological Materials to use and sell products in the field of human and/or animal gene therapy, RIGEL shall pay to STANFORD during the term of such sublicense a sublicense fee as follows: Upon signing of the sublicense $ [ * ] On each of the first three (3) anniversaries of the effective date of such sublicense $ [ * ] On the 4th, 5th and 6th anniversaries of the effective date of such sublicense $ [ * ] After the sixth (6th) anniversary of the effective date of such sublicense, the sublicense shall be considered perpetual and fully paid-up.
License Royalties. 7.1.1 In consideration of the license of the ELAN PATENTS granted to GEMINI under this Agreement, GEMINI shall pay to ELAN
(i) the sum of $7,500,000 due upon execution of this Agreement and payable within 2 business days of the EFFECTIVE DATE; and
(ii) a license royalty fee of [omitted] of NET INCOME until the aggregate of such royalty fee equals [omitted].
7.1.2 Payment of the license fee royalty pursuant to Clause 7.1.1
License Royalties. In consideration for Licensor’s granting of the license granted under Section 2.1, Licensee shall pay Licensor a perpetual license royalty as follows:
(a) 5% of the per barrel spot price of West Texas Intermediate (averaged over the quarter) for each barrel of oil produced post-processing using the Technology in the Territory by Licensee; and
(b) 5% of the per barrel spot price of West Texas Intermediate (averaged over the quarter) for each barrel of oil produced post-processing using the Technology in the Territory by Sublicensee.
License Royalties. Synageva shall pay to UGARF a running royalty of [*] of [*].