Payment Terms and Royalty Statements. Synergy shall pay all Royalties (and Minimum Royalties, if applicable) for each calendar quarter within 60 days of the end of such calendar quarter. Synergy shall make all payments in US dollars by wire transfer of immediately available funds to a bank account to be designated in writing by Hand. On or before the due date for all payments to Hand pursuant to this Section 6, Synergy shall provide Hand with a statement (“Payment Statement”) showing: the total Net Sales Price of all Licensed Products sold, transferred or otherwise disposed of by Synergy and the total Sublicensing Revenue accrued in the relevant calendar quarter; the calendar quarter for which the Earned Royalties and the Sublicensing Royalties were calculated; and such other particulars as are reasonably necessary or as may be reasonably requested by Hand for an accurate accounting of the payments made pursuant to this Agreement.
Payment Terms and Royalty Statements. (a) Licensee shall pay all Royalties and any other sums payable under this Agreement for each Quarterly Period within 30 days after the end of that Quarterly Period. Licensee shall make all payments in Japanese Yen by wire transfer of immediately available funds to a bank account to be designated in writing by Licensor.
(b) On or before the due date for all payments to Licensor pursuant to Section 4.1, Licensee shall submit to Licensor a statement (the “Payment Statement”) showing:
(i) the total number of Products manufactured and sold by Licensee in the relevant Quarterly Period;
(ii) the total Sales Price of all Products sold by Licensee in the relevant Quarterly Period;
(iii) the Quarterly Period for which the Royalties were calculated;
(iv) the method used to calculate the Royalties, including an identification of all deductions taken to calculate the Royalties;
(v) the exchange rate used for calculating any Royalties; and
(vi) any other information that is necessary for an accurate accounting of the payments made pursuant to this Agreement.
(c) Interest of 6% per year, calculated on a daily basis from the date the payment was required to be paid to the date of actual payment, will be assessed to any late payment.
Payment Terms and Royalty Statements. (a) Licensee shall pay all Royalties, Minimum Royalties, and any other sums payable under this Agreement for each Quarterly Period within thirty (30) days of the end of such Quarterly Period. Licensee shall make all payments in US dollars by wire transfer of immediately available funds to a bank account to be designated in writing by Licensor. Licensor shall use Licensee’s payments of Royalties and Minimum Royalties solely and fully to pay the royalties owed to the University of Minnesota with respect to the Licensed Products and shall make such payment within five (5) days of receipt of payment from Licensee. If, after notice of breach and a ten (10) day opportunity to cure, Licensor has not cured a breach of the preceding sentence, then Licensee may pay (at its sole option) the University of Minnesota directly for any amounts owed to them and offset such amounts paid against any other amounts due to Licensor hereunder for the remainder of the Term.
(b) If Licensee is prohibited by a Governmental Authority in any country from making any payment due under this Agreement, then within the prescribed period for making the payment, Licensee shall promptly request permission from the Governmental Authority to make the payment and shall make the payment within thirty (30) days after receiving permission. If permission is not received within sixty (60) days after Licensee’s request then Licensee, at the option of Licensor, shall either deposit the payment in the currency of the relevant country in a bank account within that country designated by Licensor or make the payment to an affiliate of Licensor designated by Licensor and having an office in the relevant country or in another country designated by Licensor.
(c) On or before the due date for all payments to Licensor pursuant to Section 4.1, Licensee shall provide Licensor with a statement ("Payment Statement") showing for the relevant Quarterly Period:
(i) the gross amount invoiced by Licensor to any third party for the sale to such third party of Licensed Products;
(ii) the type and amount of all deductions and offsets allocated with respect to such sale of Licensed Products;
(iii) the calculation of Net Sales, including the applicable Royalty rate;
(iv) the exchange rate used for calculating any Royalties; and
(v) such other particulars as are necessary for an accurate accounting of the payments due pursuant to this Agreement.
(d) If payments are not received by Licensor within five (5) Business Days after...
Payment Terms and Royalty Statements. (a) Licensee shall pay all Royalties, Minimum Royalties, and any other sums payable under this Agreement for each Quarterly Period within thirty (30) days of the end of such Quarterly Period. Licensee shall make all payments in US dollars by wire transfer of immediately available funds to a bank account to be designated in writing by Licensor. Licensor shall use Licensee’s payments of Royalties and Minimum Royalties to fully pay the royalties owed to the University of Minnesota with respect to the Licensed Products and shall make such payment within five (5) days of receipt of payment from Licensee. If, after notice of breach and a ten (10) day opportunity to cure, Licensor has not cured a breach of the preceding sentence, then Licensee may pay (at its sole option) the University of Minnesota directly for any amounts owed to them and offset such amounts paid against any other amounts due to Licensor hereunder for the remainder of the Term.”
Payment Terms and Royalty Statements. 3.5.1. All Earned Royalties and any other sums payable under this Agreement {except for the Original Canada Royalty and Additional Territory Royalty) shall be paid in US dollars by wire transfer to a bank account to be designated in writing by SoRSE or Valens within forty-five {45) days of the end of each quarterly period.
3.5.2. Earned Royalty payments to SoRSE shall be accompanied by a statement {"Payment Statement") showing the total Revenue received by Vxxxxx from the sale of all Licensed Products and, in respect of the sales of S6RSE Emulsion under Section 3.3.4 and Section 6.4.1.4, the Gross Profit earned by Vxxxxx from such sales. Earned Royalty payments to Vxxxxx shall be accompanied by a similar payment statement showing the total Revenue received by SoRSE from the sale of all SoRSE Consumer Products and, in respect of the sales of S6RSE Emulsion under Section 6.4.2.4, the Gross Profit earned by SoRSE from such sales. SoRSE-Valens Confidential
3.5.3. Revenues will be reported in the currency of the actual sales, and converted into U.S. Dollars at the end of each calendar quarter. The rate of exchange to be used in computing the amount of currency equivalent in US Dollars for each quarter shall be the average of the daily exchange rate reported by the Bank of Canada (hxxxx://xxx.xxxxxxxxxxxx.xx/xxxxx/exchange/daily-exchange-rates/) for that calendar quarter (for example, the average rate in effect on from October 1 to December 31 will be used to calculate the exchange rate for payments in the fourth calendar quarter.
Payment Terms and Royalty Statements. Licensee shall pay all Royalties, and any other sums payable under this Agreement for each Quarterly Period within 15 Business Days of the end of such Quarterly Period. Licensee shall make all payments in US dollars by wire transfer of immediately available funds to a bank account to be designated in writing by Licensor. On or before the due date for all payments to Licensor, Licensee shall provide Licensor with a statement ("Payment Statement") showing for the relevant Quarterly Period: (1) the type and amount of any deductions and offsets allocated with respect to such sale of Licensed Know-How & Products; (2) the calculation of Gross Revenue, including the applicable Royalty due; (3) such other particulars as are reasonably necessary for an accurate accounting of the payments due pursuant to this Agreement. If payments are not received by Licensor within fifteen (15) Business Days after becoming due, Licensee shall pay to Licensor interest on the overdue payment from the date such payment was due to the date of actual payment at a rate of 1% per month, or if lower, the maximum amount permitted under applicable Law.
Payment Terms and Royalty Statements. 5.4.1 Licensee shall pay all Royalties and any other sums payable under this Agreement within fifteen (15) Business Days of the dates due as described in this Agreement. Licensee shall make all payments in US dollars by wire transfer of immediately available funds to a bank account to be designated in writing by Licensor. For the purpose of converting the local currency in which any royalties or other payments arise into US dollars, the rate of exchange to be applied shall be the rate of exchange in effect on the last Business Day of the due date to which the payment relates as reported in the Wall Street Journal.
5.4.2 On or before the due date for all payments to Licensor pursuant to Section 6.2, Licensee shall provide Licensor with a statement (“Payment Statement”) showing:
5.4.2.1 the time period to which the Royalty payment relates;
5.4.2.2 the exchange rate, if any, used for calculating any Royalties; and
5.4.2.3 such other particulars as are reasonably necessary for an accurate accounting of the payments made pursuant to this Agreement.
5.4.3 If payments are not received by Licensor within fifteen (15) Business Days after becoming due, Licensee shall pay to Licensor interest on the overdue payment from the date such payment was due to the date of actual payment at a rate of one percent (1%) per month, or if lower, the maximum amount permitted under applicable Law.
Payment Terms and Royalty Statements. (a) Licensee shall pay all Royalties (beyond the Minimum Royalties) for each Quarterly Period within thirty (30) Business Days of the end of such Quarterly Period. Licensee shall make all payments in US dollars by wire transfer of immediately available funds to a bank account to be designated in writing by Licensor.
(b) On or before the due date for all payments to Licensor pursuant to Section 6.2, Licensee shall provide Licensor with a statement (“Payment Statement”) showing for the relevant Quarterly Period:
(i) the gross amount invoiced by Licensor or any of its Affiliates to any third party for the sale to such third party of Licensed Products;
(ii) the type and amount of all deductions and offsets allocated with respect to such sale of Licensed Products;
(iii) the calculation of Net Sales, including the applicable Royalty rate;
(iv) the exchange rate used for calculating any Royalties; and
(v) such other particulars as are reasonably necessary for an accurate accounting of the payments due pursuant to this Agreement.
(c) If payments are not received by Licensor within thirty (30 Business Days after becoming due, Licensee shall pay to Licensor interest on the overdue payment from the date such payment was due to the date of actual payment at a rate of two percent (2%) per month, or if lower, the maximum amount permitted under applicable Law.
Payment Terms and Royalty Statements. (a) Licensee shall pay all Royalties and that portion of Sublicense Consideration due Licensor under this Agreement for each Quarterly Period within sixty (60) days of the end of such Quarterly Period. Licensee shall make all payments in USD by wire transfer of immediately available funds to a bank account to be designated in writing by Licensor. For the purpose of converting the local currency in which any Royalties or portion of Sublicense Consideration arise into USD, the rate of exchange to be applied will be the rate of exchange in effect for the last day of the Quarterly Period to which the payment relates as reported in The Wall Street Journal.
(b) On or before the due date for all payments to Licensor pursuant to Section 3.3, Licensee shall provide Licensor with a statement (a "Payment Statement") showing for the relevant Quarterly Period on a Licensed Product-by Licensed Product and country-by-country basis:
(i) the gross amount received by Licensee or any of its Sublicensees for the sale of Licensed Products; and
(ii) the calculation of Net Sales on such sales, including the type and amount of all deductions and offsets allocated with respect to such Licensed Products;
(iii) the calculation of Licensor's portion of any Sublicense Consideration payable to Licensor; and
(iv) the exchange rate used for calculating such payments.
Payment Terms and Royalty Statements
