Nature Of Inventergy’s Payment Sample Clauses

Nature Of Inventergy’s Payment. For avoidance of doubt, the Parties stipulate to the following: (a) The amounts represented in Section 4.4 shall be due and payable irrespective of whether any royalties are collected for licensing or assertion of any of the Patents; and (b) The pertinent amounts stated in Section 4.4 up through the point of providing any Notice of Termination represent a walk away position (i.e., limit of liability) for Inventergy, subject to any Royalty Share owed to GTX for royalties actually collected which are attributable to any Substantially Completed Monetization Effort before Termination, and subject to the other provisions of the termination section, below. ● Example - Inventergy elects to terminate on July 5, 2016 and provides Notice of Termination on this date; in this event, Inventergy would be obligated to pay GTX $25,000 as provided above, and to cause the Entity to transfer the Patents back to GTX, but would not owe the other payments referenced above because it terminated on a date before such payments were due; if a licensing deal was signed prior to Termination, the Parties would continue to divide any Net Revenue whenever received for such Substantially Completed Monetization Effort according to the Parties’ respective Revenue Shares.
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Related to Nature Of Inventergy’s Payment

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