Obligation to Pay Royalties. A royalty is due Stanford under this Agreement for any activity conducted under the licenses granted. For convenience’s sake, the amount of that royalty is calculated using Net Sales. Nonetheless, if certain Licensed Products are made, used, imported, or offered for sale before the date this Agreement terminates, and those Licensed Products are sold after the termination date, ***** will pay Stanford an earned royalty for its exercise of rights based on the Net Sales of those Licensed Products.
Obligation to Pay Royalties. A royalty is due Stanford under this Agreement for any activity conducted under the licenses granted. For convenience’s sake, the amount of that royalty is calculated using Net Sales. Nonetheless, if certain Licensed Products are made, used, imported, or offered for sale before the date this Agreement terminates or expires, and those Licensed Products are sold after the termination or expiration date, ***** and its sublicensees will pay Stanford an earned royalty for their exercise of rights based on the Net Sales of those Licensed Products. Upon expiration or termination of this agreement, ***** and its sublicensees will provide to Stanford an inventory listing of all Licensed Products on hand that were manufactured prior to the expiration or termination date, and such listing to be certified and signed by an officer of *****. ***** and its sublicensees will be responsible for paying royalties on sales of such Licensed Products in accordance with Section 7.9 of this Agreement.
Obligation to Pay Royalties. If this Agreement is not terminated in accordance with other provisions, Alnylam will be obligated to pay royalties on all Licensed Product that is either sold or produced under the license granted in Article 3, whether or not the Licensed Product is produced before the Effective Date of this Agreement or sold after the Licensed Patent has expired.
Obligation to Pay Royalties. In no event shall more than one. royalty be due hereunder with respect to any unit of Licensed Product even if covered by more than one patent or Valid Claim of any patent included in the Licensed Patents. Except as provided in Section 3.5, there shall be no obligation to pay royalties to MAYO under this Section 3 on sales of Licensed Products between ACORDA and its Affiliates and Sublicensees, but in such instances the obligation to pay royalties shall arise upon the sale by ACORDA or its Affiliates or Sublicensees. Failure to make such royalty payments shall be deemed a Material Breach of this Agreement. Payments due under this Section 3 shall be deemed to accrue when payment is received by ACORDA for Licensed Products.
Obligation to Pay Royalties. If certain Licensed Products are made, used, imported, or offered for sale before the date this Agreement terminates, and those Licensed Products are sold after the termination date, Medicenna will pay Stanford an earned royalty for its exercise of rights based on the Net Sales of those Licensed Products.
Obligation to Pay Royalties. The obligation to pay royalties to PROGENICS under this Section 6 is imposed only once with respect to the same unit of Licensed Product regardless of the number of Licensed Patents pertaining thereto. BMS shall only be entitled to a credit against royalties or a reduction of the royalty rate once with respect to any Licensed Product in any country pursuant to any provision in this Agreement. There shall be no obligation to pay royalties to PROGENICS under this Section 6 on sales of Licensed Products among BMS, its Affiliates and Sub-sublicensees, but in such instances the obligation to pay royalties shall arise upon the sale by BMS, its Affiliates or Sub-sublicensees to Third Parties. Payments due under this Section 6 shall be deemed to accrue when Licensed Products are shipped or billed, whichever event shall first occur. In the instance where BMS, its Affiliates or Sub-sublicensees use the Licensed Product or provide it as part of some other service or product, a royalty shall be due to PROGENICS at the time such Licensed Product is used or provided based on a Net Sales amount equal to the price at which BMS or its Affiliate or Sub-sublicensee sells such Licensed Product to Third Parties in the country in which the Licensed Product was used or provided.
Obligation to Pay Royalties. A royalty is due Company under this Agreement for any activity conducted under the licenses granted. For convenience’s sake, the amount of that royalty is calculated using Net Sales. Nonetheless, if certain Licensed Products are made, used, imported, or offered for sale before the date this Agreement terminates, and those Licensed Products are sold after the termination date, Newco will pay Company an earned royalty for its exercise of rights based on the Net Sales of those Licensed Products.
Obligation to Pay Royalties. In the event that more than one royalty rate under Section 5.2 applies with respect to the Net Sales of any Product, SGI shall pay royalties with respect to such Net Sales at the highest applicable rate. There shall be no obligation to pay royalties to BMS under this Section 5 on sales of Products among SGI, its Affiliates and its sublicensees, but in such instances the obligation to pay royalties shall arise upon the sale by SGI, its Affiliates or its sublicensees to unrelated Third Parties.
Obligation to Pay Royalties. APSA’s obligation to pay royalties to Targacept under this Article 7 is imposed only once with respect to the same unit of Licensed Product regardless of the number of Targacept Patents, APSA Patents or Joint Patents pertaining thereto.
Obligation to Pay Royalties. BMS's obligation to pay royalties to Arris under this Article 6 is imposed only once with respect to the same unit of Collaboration Product regardless of the number of Arris Patent Rights pertaining thereto. There shall be no obligation to pay royalties to Arris under this Article 6 on sales of Collaboration Products among BMS, its Affiliates and Sublicensees so long as such products are then resold to Third Parties, and in such instances the obligation to pay royalties shall arise upon the resale by BMS, its Affiliates or Sublicensees, as applicable, to the Third Parties, including Third Party distributors that are not Sublicensees as defined in this Agreement. The royalty obligation under Section 6.3 with respect to a particular Collaboration Product shall be deemed to accrue when Collaboration Products are shipped or billed, whichever event shall first occur. All royalties obligations of BMS hereunder that accrue during a particular calendar quarter shall be paid by BMS within sixty (60) days after the end of such calendar quarter. For the purpose of calculating royalties, Net Sales shall be determined based on the gross invoiced sales price as reflected in the books and records of BMS, its Affiliates and Sublicensees, as applicable, maintained in accordance with the accounting principles used by the applicable entity consistently applied across all its products and operations, subject to BMS's obligation to remedy any arithmetic, data entry or billing errors in such records that are discovered in the course of an audit conducted hereunder or otherwise. BMS covenants that BMS and its Affiliates shall accurately reflect the actual gross sales price of Collaboration Products sold in the invoiced prices recorded in its books and records. BMS's obligation to pay royalties to Arris under this Article 6 shall extend to any Collaboration Product that is used in, or offered as part of, a commercial service business. In such event, the Parties shall negotiate in good faith and agree on a reasonable mechanism for fairly calculating Net Sales resulting from commercial use.
