Minimum Royalty Credit Sample Clauses

Minimum Royalty Credit. Notwithstanding anything to the contrary in this Section 6, the parties acknowledge and agree that the Revenue Royalty payments are intended to be in place of - and not in addition to - the Minimum Royalty payments, to the extent that the Revenue Royalty payments exceed the Minimum Royalty payments. Accordingly, (i) InMedica Minimum Royalty payments made in any given calendar year shall be a credit against InMedica Revenue Royalty payments in such calendar year, and InMedica Revenue Royalty payments shall only be paid to the extent that they exceed the InMedica Minimum Royalty payments for such calendar year; and (ii) Chi Lxx Xxximum Royalty payments made in any given calendar year shall be a credit against Chi Lxx Xxxxnue Royalty payments in such calendar year, and Chi Xxx Xxxxnue Royalty payments shall only be paid to the extent that they exceed the Chi Lxx Xxxxmum Royalty payments for such calendar year.
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Minimum Royalty Credit. Irrespective of the number of Licensed Products sold by Licensee, during the term of this Agreement, Licensee shall pay Licensor the minimum parts royalty as provided in Section 8(a). In calculating the parts royalty obligation set forth in Section 8(b), Licensee shall be given a quantity credit for all current and prior payments of minimum base royalty paid to Licensor until such quantities have been fully applied against current sales of the Licensed Products. For instance, in year three of the Agreement, if Licensee has paid minimum base royalties on parts totaling 500, plus 1,000, plus 4,000 or 5,500 parts and Licensee's cumulative sales through the end of year three of the Agreement total 7,000 parts, then Licensee's parts royalty obligation for year three of the Agreement shall apply only to 1,500 parts.
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Related to Minimum Royalty Credit

  • Minimum Royalty At the beginning of each calendar year during the term of this Agreement, beginning January 1, 2016, Company shall pay to Medical School a minimum royalty of {***}. If the actual royalty payments to Medical School in any calendar year are less than the minimum royalty payment required for that year, Company shall have the right to pay Medical School the difference between the actual royalty payment and the minimum royalty payment in full satisfaction of its obligations under this Section, provided such minimum payment is made to Medical School within sixty (60) days after the conclusion of the calendar year. Waiver of any minimum royalty payment by Medical School shall not be construed as a waiver of any subsequent minimum royalty payment. If Company fails to make any minimum royalty payment within the sixty-day period, such failure shall constitute a material breach of its obligations under this Agreement, and Medical School shall have the right to terminate this Agreement in accordance with Section 8.3.

  • Minimum Royalties If royalties paid to Licensor do not reach the minimum royalty amounts stated in Section 3.3 of the Patent & Technology License Agreement for the specified periods, Licensee will pay Licensor on or before the Quarterly Payment Deadline for the last Contract Quarter in the stated period an additional amount equal to the difference between the stated minimum royalty amount and the actual royalties paid to Licensor.

  • Earned Royalty In addition, Alnylam will pay Stanford earned royalties on Net Sales as follows:

  • Earned Royalties Subject to of Article 7 hereof, Licensee shall pay to Licensor for the rights granted hereunder a sum equal to one and [*****] of the Net Invoice Value of Trademarked Products Sold by Licensee (the "Royalties"). The Royalties shall be remitted in accordance with Section 7.4 of this Agreement. 6.2

  • One Royalty No more than one royalty payment shall be due with respect to a sale of a particular Licensed Product. No multiple royalties shall be payable because any Licensed Product, or its manufacture, sale or use is covered by more than one Valid Claim.

  • Royalty Payment In partial consideration of the grant of rights to Schering by ICN under this Agreement, Schering shall pay ICN a royalty in the following amount:

  • 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.

  • Royalty Payments (i) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.

  • Production Royalty The amount of the Royalty shall be determined at the end of each month after the Effective Date. The Royalty shall be determined monthly on the basis such that payments will be determined as of and paid within thirty (30) days after the last day of each month during which Lessee produces any Geothermal Resources. The Royalty rates shall be determined as follows:

  • Minimum Annual Royalty During the TERM of this SUB-LICENSE, ADAPTIMMUNE shall pay to LTC a non-refundable minimum annual royalty (“MINIMUM ANNUAL ROYALTY”) of: (a) *** dollars ($***) for each full or partial calendar year during which there is no APPROVAL OBTAINED for any LICENSED T CELL PRODUCT, and (b) for the first full calendar year following the date that there is APPROVAL OBTAINED and thereafter, a non-refundable MINIMUM ANNUAL ROYALTY that is equal to fifty percent (50%) of ADAPTIMMUNE’s earned running royalties for the sale by ADAPTIMMUNE and its AFFILIATES of such LICENSED T CELL PRODUCTS in the previous calendar year. The MINIMUM ANNUAL ROYALTY will be fully-creditable against running royalties due and payable by ADAPTIMMUNE and its AFFILIATES on account of running royalties under Section 4.3 for the applicable calendar year for which such MINIMUM ANNUAL ROYALTY relates, but shall not be creditable against any MILESTONE PAYMENTS (defined at Section 4.4) made at any time. Any difference between the MINIMUM ANNUAL ROYALTY due for a particular calendar year, and the running royalties due and payable for such calendar year, will be paid along with the royalty payment and royalty report due for the fourth (4th) quarter of each calendar year (e.g. within forty-five (45) days of each December 31) in accordance with Section 4.6. For clarification purposes, MINIMUM ANNUAL ROYALTIES are not refundable in whole or in part.

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