Overdue Royalties. All royalties payments not paid within the time period set forth in this Article 7 shall bear interest at a rate of one percent (1%) per month from the due date until paid in full; provided, that, in no event shall such annual rate exceed the maximum interest rate permitted by law in regard to such payments. Such royalty or milestone payment when made shall be accompanied by all interest so accrued.
Appears in 3 contracts
Samples: Collaborative Research and License Agreement, Collaborative Research and License Agreement (Paratek Pharmaceuticals, Inc.), Collaborative Research and License Agreement (Paratek Pharmaceuticals Inc)
Overdue Royalties. All royalties payments not paid within the time period set forth in this Article 7 shall bear interest at a rate of one percent (1%) per month from the due date until paid in full; provided, that, in no event shall such annual rate exceed the maximum interest rate permitted by law in regard to such payments. Such royalty or milestone payment when made shall be accompanied by all interest so accrued. 7.5.7.
Appears in 1 contract
Samples: Collaborative Research and License Agreement (Paratek Pharmaceuticals, Inc.)
