Minimum Annual Royalties. Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.
Minimum Annual Royalties. The minimum annual royalties pursuant to Paragraph 3.2 are: [**] year: [**] dollars ($[**]). [**] year: [**] dollars ($[**]). [**] year and each year thereafter until Launch Year: Fifty thousand dollars ($50,000). Launch Year and each year thereafter: One hundred thousand dollars ($100,000).
Minimum Annual Royalties. The minimum annual royalties payable under Paragraph 3.2 are: [***]
Minimum Annual Royalties. A minimum annual royalty of *** dollars ($***) is due Caltech beginning on the *** anniversary of the Effective Date of this Agreement and each anniversary date thereafter during the term of the License Agreement or until Licensee makes the initial Milestone Payment pursuant to Section 5.9, whichever comes first. For clarity, the year in which Licensee reaches the first Milestone payment, Minimum Annual Royalty payments will cease. Any royalties paid under Sections 5.2, 5.3, 5.4 and 5.6 for the *** period preceding the date of payment of the minimum annual royalty shall be creditable against the annual minimum.
Minimum Annual Royalties. In partial consideration for the rights and licenses granted pursuant to Section 2.1 (Grant of Rights),Licensee shall pay to Licensor minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of the Effective Date. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period pursuant to Clause 3.3 below do not exceed ten thousand US dollars ($10,000).
Minimum Annual Royalties. 3.4.1 Company shall pay to Wistar as a non-refundable but creditable advance against royalties during the ensuing year, minimum annual royalties on the following dates in the corresponding amounts (the “Minimum Annual Royalties”): Wistar Reference No. LIC15-35 Wistar/OncoCyte Certain information has been omitted under a request for confidential treatment, and the omitted information has been filed with the Commission. Confidential portions are marked [**].
(i) [**] dollars ($[**]) due on January 1 following the First Commercial Sale of a Licensed Product; and
(ii) [**] dollars ($[**]) due on January 1 of each year of the Term thereafter.
3.4.2 Minimum Annual Royalties shall be available for credit against royalties only during the year in which such Minimum Annual Royalties are paid and shall not be available for credit in any other year.
Minimum Annual Royalties. A minimum annual royalty shall apply following the first Sale of a Licensed Product anywhere in the Licensed Territory. Year 1 = $[***] Year 2-3 = $[***] Year 4-5 = $[***] Year 6+ = $[***] The minimum annual royalty for each calendar year shall be due and payable in advance on or before January 15 of such year and will be credited as advance payment of royalties to accrue during the calendar year following payment. The minimum annual royalty payments will not be refunded in whole or in part.
Minimum Annual Royalties. COMPANY shall pay to LICENSOR minimum annual royalties as set forth in Exhibit B. These minimum annual royalties shall be due, [***] on January 1 following each anniversary of the EFFECTIVE DATE beginning with the first anniversary, and shall be payable within [***] thereafter. For clarity, the first minimum annual royalty payment, for the calendar year 2014, shall be due on January 1, 2015, and payable no later than [***]. Running royalties accrued under Paragraph 3.3 and paid to LICENSOR for a given calendar year shall be credited against the minimum annual royalties due for such calendar year. For example, running royalties accrued under and paid to LICENSOR during calendar year 2015 shall be credited only against the minimum annual royalty payment due and payable no later than [***].
Minimum Annual Royalties. Company will pay minimum annual royalties for the term of this Agreement to be creditable against running royalty payments for the preceding calendar year on a non-cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st following the first full calendar year after the first commercial sale of a Licensed Product and continuing during the term of this Agreement according to the following schedule: Year [***] after first commercial sale [***] Year [***] after first commercial sale [***] Year [***] after first commercial sale and each year after [***]
A3.3.1 If this Agreement is terminated prior to the payment of a minimum annual royalty in any given year the amount due for that minimum annual royalty payment will be prorated on the basis of the number of full quarters that have elapsed prior to termination since the last payment of a minimum annual royalty.
Minimum Annual Royalties. Company will pay minimum annual royalties for the term of this Agreement, to be creditable against running royalty payments for the preceding calendar year on a non- cumulative basis and to be due in full and payable on January 31st of each year beginning on January 31st of
A3.3.1 If this Agreement is terminated prior to the payment of a minimum annual royalty in any given year the amount due for that minimum annual royalty payment will be prorated on the basis of the number of full quarters that have elapsed prior to termination since the last payment of a minimum annual royalty.
