PAYMENT/ROYALTIES. 6.1 In consideration for the rights granted under Clause 2 the Licensee shall pay to the Licensor a royalty at the Royalty Rate applied to [the Net Invoice Price of each Licensed Product manufactured, used or supplied in the Territory by the Licensee [and its sub-Licensees]].107
PAYMENT/ROYALTIES. 5.1 KSB shall pay to AMERSHAM a royalty on all sales of Licensed Products throughout the Licensed Territory at the rate of * of aggregate Net Sales.
PAYMENT/ROYALTIES. In consideration for the rights granted under Clause 2 the Licensee shall pay to the Licensor a royalty at the Royalty Rate applied to [the Net Invoice Price of each Licensed Product manufactured, used or supplied in the Territory by the Licensee [and its sub-Licensees]].107 All amounts provided to the Licensee under this Licence Agreement shall be made payable by cheque or by bank transfer to an account of the Licensor, designated in writing by the Licensor. The Licensor acknowledges and agrees that any amounts received under this Agreement are gross of any taxes, fees and levies of any nature whatsoever which may be imposed by any authority with jurisdiction over any amounts received by the Licensor under this Licence Agreement. The Licensor shall be solely responsible for the payment of any and all such taxes, fees and levies save for any liability to stamp duty which may arise by virtue of this Licence Agreement which shall be the sole responsibility of the Licensee. In the event of any delay in paying any sum/amount due under this Licence Agreement by the due date, the Licensee shall pay to the Licensor interest (calculated on a daily basis) on the overdue payment from the date such payment was due to the date of actual payment at a rate of [4]% over the base lending rate of [FULL NAME OF BANK] from time to time. At the same time as payment of Royalties falls due, the Licensee shall submit or cause to be submitted to the Licensor a statement in writing recording the calculation of such Royalties payable and in particular the: number of Licensed Products that have been supplied during the previous quarter; number of Licensed Products that have been manufactured during the previous quarter but not yet supplied; Net Invoice Price of each Licensed Product supplied during the previous quarter; and amount of Royalties due and payable and the amount of any tax deductible or due to be deducted from such figure. The Licensee shall keep proper records and books of account showing the quality, description and price of Licensed Products supplied or put into use. Such records and books shall be kept separate from any records and books not relating solely to the Licensed Products and be open at all times to inspection and audit by the Licensor (or its duly authorised agent or representative), who shall be entitled to take copies of or extracts from the same. If such inspection or audit should reveal a discrepancy in the Royalties paid from those payable under this ...
PAYMENT/ROYALTIES
