Royalty Payments (i) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.
Payment of Royalty Client will pay to Yanbor a royalty which shall be calculated as follows: Term “licensed period” means the period of one year started when the Agreement is signed or renews. The first license period starts on the end day of trial if Agreement is signed and the first payment was received by Xxxxxx. $18,000 shall be paid when the Agreement is signed and renews for the next licensed period and $1,000 shall be paid for each installment of OUReports by Client or Client customers for each instance of database/namespace during licensed period. With each royalty payment, Client will submit to Xxxxxx the written report that sets forth the calculation of the amount of the royalty payment.
Sublicense Fees Licensee will pay Sublicense Fees indicated in Section 3.1(e) of the Patent & Technology License Agreement on or before the Quarterly Payment Deadline for the Contract Quarter.