Common use of Minimum Annual Royalties Clause in Contracts

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-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: Calendar Year Minimum Annual Royalty 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 year, then 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 shall 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 the year following the first full calendar year after third anniversary of the first commercial sale of a Licensed Product Effective Date and continuing during the term of this Agreement according to the following schedule: Year [: A3.2.1. $*** on *** ; A3.2.2. $*** on *** ; A3.2.3. $*** on *** ; and A3.2.4. $***] after first commercial sale [on ***] Year [* and each ***] after first commercial sale [***] Year [***] after first commercial sale and each year after [***]* thereafter. A3.3.1 A3.2.5. 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.