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.
Appears in 4 contracts
Samples: Intellectual Property License Agreement (Synergy CHC Corp.), Intellectual Property License Agreement (Synergy CHC Corp.), Intellectual Property License Agreement (Synergy CHC Corp.)
