Payment and Royalties. For the rights granted to the PUBLISHER above, the AUTHOR will receive a one-off payment of US$15.00 within two weeks of publication, by PayPal only. In the case of work that is published over more than one edition (i.e. serialized), each appearance will attract a one-off payment of US$15.00 (this will be grouped into a single payment to the AUTHOR). If the WORK appears in the Anthology, the AUTHOR will not receive any further remuneration, with the following exception: if the Anthology makes more than 150 unit sales (excluding author copies), each author will receive royalty payments for all sales following 150 unit sales, on the basis of a percentage of 50% of after-operating cost revenue, where the percentage will be calculated on the basis of word count ratios among contributors, each count being rounded up to the nearest 1000 words. For example, if the story by the AUTHOR was 3565 words, long, it will count as 4000 words. If, after following the same process for each story, the adjusted word count of the Anthology is 105,000 words, then the AUTHOR would receive, in royalty payments, 4/105 of 50% of after-operating cost revenue. Payments would be made by PayPal only, on a quarterly basis. All profits gained by PUBLISHER from the Anthology (which may or may not include the WORK) will be used to pay for running costs of SQ Mag, the production of the Anthology, and contribute to a fund, which is intended to ‘step up’ SQ Mag and its annual Anthology to a semi- pro market in the future. In the case of the WORK being published in the Anthology (if applicable), a print version of the book will be supplied free of charge to the AUTHOR, and a special discounted rate for further print copies will be made available (which will not count toward royalties, but does count to the 150 unit sales for the royalty trigger).
Payment and Royalties. Section 1. As to each MAGNETIC CARD manufactured by or for LICENSEE and sold ---------- or otherwise disposed of by LICENSEE or manufactured, sold or otherwise disposed of by others under license for LICENSEE throughout the world until expiration of the last to expire of the KEEPERED MEDIA PATENTS, LICENSEE shall pay the following royalties to LICENSOR during each ROYALTY YEAR. $0.05 per MAGNETIC CARD for the first 300 million MAGNETIC CARDS $0.03 per MAGNETIC CARD for the next 300 million MAGNETIC CARDS $0.01 per MAGNETIC CARD for each addition MAGNETIC CARD
Section 2. As to each MAGNETIC CARD manufactured, sold or otherwise disposed ---------- of by LICENSEE or manufactured, sold or otherwise disposed of by others under license from LICENSEE throughout the world for a period of five (5) years after expiration of the last to expire of the KEEPERED MEDIA PATENTS, LICENSEE shall pay the following royalties to LICENSOR during each ROYALTY YEAR: $0.02 per MAGNETIC CARD for the first 300 million MAGNETIC CARDS $0.01 per MAGNETIC CARD for the next 300 million MAGNETIC CARDS $0.005 per MAGNETIC CARD for each addition MAGNETIC CARD
Section 3. As to LICENSED PRODUCTS other than MAGNETIC CARDS, the royalty ----------- due until expiration of the last to expire of the KEEPERED MEDIA PATENTS shall be three percent (3%) of net sales, which shall be gross sales less actual discounts, sales commissions, freight, taxes and returns.
Section 4. The minimum royalties to be paid by LICENSEE to LICENSOR for all ----------- LICENSED PRODUCTS to maintain it exclusivity shall be as follows: First Year $ 0 Second ROYALTY YEAR Royalties of at least $875 thousand per quarter Third ROYALTY YEAR Royalties of at least $15 million for the year Fourth ROYALTY YEAR Royalties of at least $24 million for the year Each Subsequent ROYALTY YEAR Royalties of at least $24 million for the year
Section 5. It is understood and agreed that all sums of money referred to in ---------- this Agreement as being payable by LICENSEE to LICENSOR shall be sums payable at a United States Bank to be designated by LICENSOR, in the United States dollars.
Section 6. Within sixty (60) day after March 31, June 30, September 30 and ----------- December 31 of each year, LICENSEE shall submit to LICENSOR an accurate written report, duly certified once a year by LICENSEE's chief financial officer, setting forth for LICENSEE, and for each sublicensee of LICENSEE, the number of MAGNETIC CARDS sold, leased or otherwise t...
Payment and Royalties. Section 4.1 Running Royalties payable by the Licensee to SEL under Sections 3.2 and 3.3 shall be paid to SEL within * days after the end of each semi-annual period during the term of this Agreement, and shall cover Running Royalties accrued during such semi-annual period. Running Royalties for the period from September 1, 2003 to December 31, 2003 shall be paid to SEL within * days after December 31, 2003.
Section 4.2 A royalty report, substantially in the form attached hereto as Exhibit 1 covering the immediately preceding semi-annual period showing the computation of Running Royalties for such semi-annual period shall be submitted by the Licensee to SEL within * days after the end of corresponding semi-annual period. Each royalty report shall set out by model in each country where such model was used, sold or otherwise disposed of by Licensee and all Subsidiaries of the Licensee, whether or not the Subsidiary is a Sublicensed Subsidiary, during the relevant semi-annual period, the name of manufacturer, the name of the Arm’s Length Customer, the quantities, the screen size, if applicable, the Sales Price in original currency, if applicable, the Sales Price in US$, the model name for calculation of the Constructive Sales Price and the Constructive Sales Price, if applicable. The royalty report shall also contain a calculation of the Running Royalties amount due under this Agreement for each model and the total Running Royalty amount due under this Agreement for the reported semi-annual period. The royalty report shall be certified by an authorized officer of the Licensee to be correct to the best knowledge and information of the Licensee. * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
Section 4.3 The Initial License Fee, Running Royalties and any other amount payable to SEL hereunder shall be payable to SEL in US Dollars (US$) without any deduction of any remitting bank commission or fee or otherwise charged by Licensee’s remitting bank, except for the applicable withholding tax set forth in Section 4.4 below, at the following bank account of SEL or any other bank account SEL notifies the Licensee in writing from time to time, and any and all payments that shall be made by the Licensee to SEL under this Agreement shall be deposited to the bank account set forth in this Section by the due date of each payment. All Running Royalties ...
Payment and Royalties a. Licensee shall pay the sum of $5,500,000 (five-million, five-hundred thousand dollars, US currency) to Licensor upon execution of this Agreement as per the terms of this agreement.
b. Payment required in item 5a hereinabove shall be made in the form of real property provided:
i. That such payment is accompanied by the following:
(a) The subject property consists of 750,000 square-meters located in the Dominican Republic which has been reserved for the Pre-Planned Use as that term is defined below; [NOTARY PUBLIC SEAL OF M. CHIRINSKY]
(b) That the subject property be accompanied by a Banco Nacional De La Vivienda which serves as the Government of the Dominican Republic Federal Housing Authority ("DR-FHA") valuation issued by the DR-FHA which appraisal values the property at 250 Xxxxxxxxx Xxxxxxxx xxxos per square-meter or a total appraised value of $187,500,000 (one-hundred and eighty-seven million, five-hundred thousand Dominica Republic pesos) which, on the date this Agreement is executed, is convertible into United States dollars equal to $16.12 per square meter or a total appraisal of $12,090,000 (twelve-million, ninety-thousand, US Currency). The appraisal required by this item 5bi(b) shall be included hereon as Exhibit 1 and made a part hereof.
(c) That the authority issuing the subject appraisal is verified by opinion issued by an independent certified public accountant provided such firm is licensed to practice in the United States and operates under the provisions of United States Generally Accepted Accounting Principals. The independent certified public accountant verification shall be included hereon as Exhibit 2 and made a part hereof.
Payment and Royalties. 3.1 Licensee shall pay a one time payment of seventy thousand euros (70,000 euros) for the setup of SATELINX USA LLC. In the USA and shall finance all operations of SATELINX USA LLC. In the USA for 24 months solely at the expense of the licensee.
3.2 Licensee shall pay to the Licensor no fees. Instead Licensee has agreed to give (50%) percent of the Licensee’s net profits generated from the Licensed product and Licensee’s residual based tracking operation used in its business each Contract year as long as Licensee remains a privately held corporation. For the purpose of joint venture under this License Agreement, the Licensed Product shall be deemed to have been sold when payment is received.
Payment and Royalties. 6.1 Distributor shall pay Owner royalties equal to 75% of Distributor’s Net Revenues (defined below). Distributor shall pay such royalties as set forth herein for each of the Owner’s Works listed in Section 12.
6.2 For purposes of computing Royalties, the term "Net Revenues" means gross revenue realized by Distributor from sales of Owner’s product (excluding sales to
6.3 Distributor shall pay Owner accrued Royalties, based upon its books and records, at the end of month, every sixty (60) days. Each royalty payment to Owner shall be accompanied by a report summarizing all transactions producing revenue from Owner’s Works and which sets forth gross revenue and adjustments for returns, allowances, and refunds.
Payment and Royalties. The license granted in Article 2.1 shall commence upon receipt by Licensor of US$200,000 (the "Initial Payment"), which Initial Payment shall be made within one (1) business day of the Effective Date. Thereafter, Licensee shall pay on an annual basis to Licensor, starting a year after the Initial Payment, a royalty of 5% of net profits in the Territory made by Licensee pursuant to the License Agreement; provided, however, that such royalty payments shall cease to be paid once Licensee has paid an aggregate ofUS$3,000,000.00 to Licensor, inclusive of the Initial Payment.
Payment and Royalties. 4.1 Publisher shall pay to Author the following royalties:
4.1.1 Author shall be paid eight percent (8%, the "Eight Percent Royalty") of the Net Revenue (as hereinafter defined) received by Publisher with respect to sales of the Product. In the event the Program is ever marketed bundled with SuperCard, then the term "cash receipts" shall mean that portion of the cash receipts from the bundled product (the "Bundled Receipts") determined by multiplying the Bundled Receipts by a fraction, the numerator of which is the published wholesale list price of the stand-alone version of the Program, and the denominator of which is the sum of the published wholesale list prices of the stand-alone versions of the Program and SuperCard. In addition,
Payment and Royalties. 4.1. Publisher shall pay to Author, upon execution of this Agreement, the amount of $______ as a nonrefundable advance royalty. Such advance royalty shall apply as a credit against 50 percent of the royalties accruing to Author under Section 4.2 hereof until such advance royalty is credited in full.
4.2. Subject to crediting of Author's advance royalty as provided in Section 4.1 hereof, Publisher shall pay to Author the following royalties:
A. So long as the aggregate number of copies of Products distributed by Publisher is 5,000 or less, Author shall be paid five percent (5%) of the net revenue received by Publisher with respect thereto;
B. When more than 5,000 but no more than 25,000 copies of Products have been distributed by Publisher, Author shall be paid twelve percent (12%) of the net revenue received by Publisher with respect thereto; and
C. When more than 25,000 copies of Products have been distributed by Publisher and thereafter, Author shall receive twenty percent (20%) of the net revenue received by Publisher with respect thereto.
4.3. For purposes of computing royalties, the term "net revenues" means gross revenue realized by Publisher from such sale or use of Products adjusted for returns, allowances and refunds granted by Publisher for Products in accordance with its standard practice.
Payment and Royalties. 3.1 LICENSEE shall pay to LICENSOR at the address set forth in Section 8 hereof or at such other address as LICENSOR designates pursuant to Section 8 hereof, in accordance with the provisions of this Section 3, an initial licensing fee of $150,000, payable upon consummation of this agreement or in three equal installments with the first payment upon consummation of this agreement and each remaining payment by the thirtieth (30th) day thereafter, or as mutually agreed upon but the full amount is to be paid in full no later than June 30, 2005.
3.2 In the event that LICENSEE fails to make the payment due in accordance with this Section 3.1, the license granted hereunder shall be terminable by LICENSOR upon 15 days' written notice to LICENSEE, subject to LICENSEE's right to cure prior to the expiration of the 15-day period.
3.3 LICENSEE shall pay LICENSOR at the address set forth in Section G pursuant to Section 8 hereof, in accordance with the provisions of this Section 3, royalties equal to 7% net sales on Licensed Products sold by LICENSEE or any of its sublicenses (the"Royalty").
3.4 For the purpose of the calculations of Royalties payable pursuant to this Section 3.2, a "sale" shall deemed to have been effected and payable in accordance with the following:
