Minimum Guaranteed Royalty Payments. If the Royalties owed in any calendar year are less than the Minimum Guaranteed Royalty Payments in any given year, then Resideo shall also pay Licensor the difference between the Minimum Guaranteed Royalty Payments and the Royalties for such calendar year. Such difference payment shall be paid to Licensor in U.S. Dollars within thirty (30) days after the end of each calendar year following the applicable Change of Control, to the extent that such payments are due. Such payments shall be paid in the same manner set forth above for the payment of Royalties.
Appears in 4 contracts
Samples: Trademark License Agreement (Resideo Technologies, Inc.), Trademark License Agreement (Resideo Technologies, Inc.), Trademark License Agreement (Resideo Technologies, Inc.)
