Payments Payment Terms Sample Clauses
The Payments/Payment Terms clause defines the rules and schedule for how and when payments must be made between parties under a contract. It typically outlines the amount due, acceptable payment methods, invoicing procedures, and deadlines for payment, such as requiring payment within 30 days of receiving an invoice. This clause ensures both parties have a clear understanding of their financial obligations, helping to prevent disputes over late or missed payments and providing a framework for managing cash flow.
Payments Payment Terms. (a) Within five (5) business days of execution of this Agreement, D-Link will pay Network-1 an upfront payment of $100,000.
(b) In further consideration for the license granted herein and except as otherwise stated herein, commencing on the Effective Date and provided that the registration of '930 Patent with the U.S. Patent Office is duly maintained by Network-1, with respect to Licensed Products, D-Link will pay to Network-1 a running royalty of 3.25% (the "Royalty Rate") of D-Link's Net Sales for the sale of Licensed Products (except PoE Adapters), and 5% of D-Link's Net Sales from the sale of Po▇ ▇dapters (the "Adapter Royalty Rate"), for all sales that occur ▇▇ or after the Effective Date. Royalties shall be paid monthly no later than twenty (20) days after the first day of each month, based on the preceding month's Net Sales. Royalties shall be submitted with a Monthly Royalty Report, in the form of Exhibit C, showing all Licensed Products sold by D-Link in the immediately preceding month. The Royalty Report will also list any additional products that fall within the scope of Licensed Products and that are to be added to Exhibit B.
(c) Beginning March 31, 2008, D-Link shall be entitled to pay the lower of the Royalty Rate/Adapter Royalty Rate (hereinafter collectively referred to as "Rate") in 5(b) and the royalty rate that may be Network-1's RAND Royalty Rate in effect at that time. If D-Link chooses to accept such RAND Royalty Rate, its royalty payments under this Section 5(d) shall be calculated using the same methodology as the royalty payments in the license agreement that triggered the adjustment described herein and shall apply to all Licensed Products. The Rate can be reduced quarterly throughout the term of this Agreement to reflect the then current RAND Royalty Rate. Network-1 agrees that as of the Effective Date, the Royalty Rate set forth herein is Network-1's initial RAND Royalty Rate. If there is any change to the RAND Royalty Rate after the Effective Date, Network-1 shall provide such changes to D-Link in writing on a quarterly basis. It is understood and agreed that the RAND Royalty Rate may include rates that vary according to units of licensed products shipped and any adjustments to the Rate will be at a rate consistent with similarly situated companies and volumes (units of licensed products sold) under the Network-1 RAND Licensing Program.
(d) D-Link shall submit to Network-I a semi-annual royalty report ("Royalty Report") within ...
Payments Payment Terms. 6 3.1. Prior Sales..................................................6 3.2. 2003-2006 Royalties..........................................7 3.3. Post 2006 Obligations........................................8 3.4.
Payments Payment Terms. 6 3.1. Prior Sales..................................................6 3.2. Covered Infrastructure Units License Fees....................7 3.3. Covered Terminal Unit Royalties..............................7 3.4. New Affiliates/Acquired Businesses...........................7 3.5. Payment; Currency Conversion.................................8 3.6. Taxes........................................................8 3.7. Mutual Acknowledgements......................................9 ARTICLE IV
Payments Payment Terms. 3.1 In consideration of the assignment and transfer of the Ultrasound Patents, Acusphere shall pay to Schering an overall amount of $7,000,000 (seven million USD) to be paid in the following installments: • $ 1,000,000.00 (one million USD) within 15 Business Days of the Effective Date of this Agreement; • $ 3,000,000.00 (three million USD) within 15 Business Days of the first anniversary of the Effective Date of this Agreement; • $ 3,000,000.00 (three million USD) within 15 Business Days of the second anniversary of the Effective Date of this Agreement. All payments are due as listed above without invoice and shall be made to a bank account to be notified by Schering in due time. For any delayed payment Schering has the right to charge computed interest to Acusphere at Prime Rate as quoted on internet page ‘▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/facts/▇▇▇▇▇.▇▇▇?Menu_Sel=primerate’”plus a premium of 3% p.a. computed on the basis of act/360 year, such interest to be due and payable upon tender of the payment.
Payments Payment Terms