Payments to the Licensor Clause Samples

Payments to the Licensor. The Licensee agrees to pay the Licensor the following fees in relation to this License as defined and in accordance with paragraph 13 of the Schedule. The Licensor will receive all payments for inspections services from the clients directly. The Licensee acknowledges and is required to pay the following fees to the Licensee when they are due. There is no requirement for the Licensor to issue an invoice, as payment is required as outlined below.

Payments to the Licensor. The Licensee shall make/ensure payments to the Licensor as per Article 5.

Payments to the Licensor. 4.1 In consideration for the grant of the License hereunder and the use of the License during the Term hereof, Licensee shall pay to Licensor the following: (a) Upon execution of this License Agreement, Licensee shall cause its Transfer Agent to issue to Licensor 25,000 shares of Licensee's Common Stock, no par value. Licensor hereby agrees to take such shares for investment and not with a view to distribution. The certificates representing such shares shall be stamped with a restrictive legend prohibiting transfer of such shares in the absence of an effective registration statement or an opinion of counsel satisfactory to Licensee that registration is not necessary; (b) Within 30 days after the end of each three month period of the first License Year, 20% of Gross Revenues received by Licensee during such License Year resulting from the sale, use and marketing of the Service within the Territory shall be paid by Licensee to Licensor; (c) Within 30 days after the end of each three month period of the second License Year, 10% of Gross Revenues received by Licensee during such License Year resulting from the sale, use and marketing of the Service within the Territory shall be paid by Licensee to Licensor; (d) Within 30 days after the end of each three month period of the third License Year, 5% of the Gross Revenues received by Licensee during such License Year resulting from the sale, use and marketing of the Service within the Territory shall be paid by Licensee to Licensor; (e) Except as set forth below, no additional payments shall be made by Licensee after the third License Year; (f) If Gross Revenues received by Licensee from the sale, use and marketing of the Service within the Territory exceed $1 million in any License Year, Licensee shall cause to be issued to Licensor 50,000 Common Stock Purchase Warrants, which shall have a strike price which is the median price between the closing Bid and Ask on the last day of the License Year in which Licensee exceeds the $1 million in Gross Revenues. These Common Stock Purchase Warrants shall expire five (5) years from the date of exercise of these Warrants; (g) If Gross Revenues received by Licensee from the sale, use and marketing of the Service within the Territory exceed $5 million in total, beginning with the commencement of this License Agreement, Licensee shall cause to be issued to Licensor 100,000 Common Stock Purchase Warrants, which shall have a strike price which is the median price between the clos...

Payments to the Licensor. The Licensee shall pay to the Licensor the Fee for the rights in the Data granted by this Agreement prior to the initial supply of the Data and annually on the anniversary of the Commencement Date for each year that this Agreement is renewed in accordance with clause 2, in the case of a fixed fee or in the case of a variable fee on a monthly basis as set out in the Special Terms.

Payments to the Licensor. The Licensee, which, subject to the obligations contained in Section 5.7, has the exclusive right to sell Licensor Advertising Rights and Premium Seating (and collect and receive all Premium Seating License Fees and Licensor Advertising Revenue) pursuant to Article VIII and XII, shall pay to the Licensor the following amounts (collectively, the “Licensee Serviced Net Revenues”) to the extent the applicable payor thereof does not pay such amount directly to the Licensor: 5.2.1 An amount equal to (a) the Premium Seating License Fees minus (b) the Premium Seating License Expenses. 5.2.2 An amount equal to (a) Licensor Advertising Revenue minus Advertising Expenses. Within twenty (20) days after the last day of each calendar month, the Licensee shall prepare and provide to the Licensor a settlement statement of Licensee Serviced Net Revenues owed by the Licensee to the Licensor pursuant to this Section 5.2, current through Licensee Events through the last day of such calendar month. Licensee Serviced Net Revenues shown in such statement as payable to the Licensee shall be remitted to the Licensee with such statement. If and to the extent the Licensee is required to refund any amount to a Sponsor or a Premium Seating Licensee due to the failure to provide Licensor Advertising Rights or Premium Seating (including due to a Force Majeure Event or NBA Rules), then the Licensor shall bear (whether by direct payment to the applicable party, reimbursement to the Licensee or an offset against amounts otherwise payable to the Licensor hereunder) the amount so refunded (or portion thereof as is determined in good faith by the Licensor and the Licensee based on the fair market value of the Licensor Advertising Rights and/or Premium Seating not so provided to the Sponsor or Premium Seating Licensee, as applicable, if any portion of the amount so refunded also is attributable to other rights not received by the Sponsor or Premium Seating Licensee). The Licensee’s obligations under this Section 5.2 with respect to any earned but unpaid Licensee Serviced Net Revenues during the final Operating Year survive the expiration or earlier termination of this Agreement. The Licensee acknowledges and agrees that the Licensee shall have no right to receive or retain any revenue from any Other Event. The Licensor shall be responsible for paying any taxes associated with Premium Seating License Fees and Licensor Advertising Revenue.

Payments to the Licensor