Post-Termination Royalties Clause Samples
The Post-Termination Royalties clause defines the obligation for one party, typically a licensee, to continue paying royalties to the other party even after the main agreement has ended. In practice, this clause often applies to intellectual property agreements, where royalties may still be owed for products sold or revenues generated using the licensed IP after termination. Its core function is to ensure that the licensor is compensated for ongoing benefits derived from their intellectual property, addressing the issue of continued use or sales that occur after the formal relationship has ended.
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Post-Termination Royalties. 10.8.1 As further consideration for the licenses, assignments and transfers set forth in Section 10.6 and Section10.7, following termination of this Agreement by Lightlake pursuant to Section 10.3 or 10.4 or by Adapt pursuant to Section 10.2, until Adapt has recouped one-hundred percent (100%) (i) of the Development Costs which were incurred by it in Developing the Products in accordance with the Initial Development Plan or any subsequent Development Plan (excluding costs borne by Lightlake in accordance with Section 3.8.1) and such Development Costs were borne by Adapt prior to the effective date of termination, (ii) the upfront payments paid to Lightlake pursuant to Section 5.1, (iii) the Regulatory Milestones paid to Lightlake pursuant to Section 5.2, (iv) the Sales-Based Milestones paid to Lightlake pursuant to Section 5.3, (iv) and any upfront license payments and milestones paid to Third Parties pursuant to Section 5.5, Lightlake shall pay to Adapt a royalty of *** REDACTED ***percent Net Sales of Product. Sections 5.4.2, 5.5, 5.6, 5.7, 5.8, 5.9, 5.12, 5.13.1 and 5.13.2 shall apply to Lightlake with respect to the Net Sales by Lightlake of Products mutatis mutandis, except that all references in the definition of Net Sales to Adapt shall deemed to refer to Lightlake.
10.8.2 In the event of a termination by Adapt pursuant to Section 10.3, Adapt shall continue to pay Lightlake royalties subject to and in accordance with Sections 5.4, and 5.5; provided, however, that each royalty rate contemplated by Sections 5.4.1 and 5.4.2 shall be reduced by *** REDACTED ***% for all royalties owing after the effective date of termination.
Post-Termination Royalties. Upon any Agreement cancellation, expiration or termination, all Earned Royalties due for Net Sales of Licensed Products to the effective date of said cancellation or termination shall accrue and become due and payable on the sixtieth (60th) day thereafter.
Post-Termination Royalties. Except if this Agreement is terminated by Seres pursuant to Section 13.2.3, as further consideration for the licenses, assignments and transfers set forth in Section 13.3.2, following termination of this Agreement, until NHSc has recouped an amount equal to (i) [***] in respect of all Collaboration Products and (ii) [***] in respect of all Collaboration Products, Seres shall pay to NHSc a royalty of [***] of Net Sales of all Collaboration Products in the Territory, excluding those Net Sales in any Decision Country in which NHSc did not retain its rights under Section 4.1. Sections [***] shall apply to Seres with respect to such royalties owing by Seres, mutatis mutandis, except that all references in the definition of Net Sales to NHSc shall deemed to refer to Seres and only to Net Sales in the Territory.
Post-Termination Royalties. Upon any termination of this Agreement pursuant to (i) Section 12.4.1 (Termination for Cause) and *** for the failure of the *** described in the ***, to ***, or (ii) Sections 12.4.1 and *** then, for a period of *** following any such termination, AstraZeneca shall pay POZEN a royalty on Net Sales of Products sold by AstraZeneca, its Affiliates or Sublicensees in an amount equal to *** percent (***%) of the royalty amount calculated according to Section 8.4.1 (Royalty Rate), in accordance with the terms and conditions of Sections 8.4 (Royalties) through 8.7 (Taxes) of this Agreement."
Post-Termination Royalties. The Baichwal Agreement is hereby amended by deleting the second paragraph of Section 5 in its entirety and inserting the following in lieu thereof: "After termination of this Agreement other than for cause, you shall continue to be entitled to receive the incentive compensation contemplated by Section 1 of this Agreement, provided that such compensation shall only be due to you with respect to (i) Net Sales of Material in any jurisdiction in which the Material sold is covered by an unexpired patent issued pursuant to the Application, (ii) royalties actually received by the Company with respect to the sale, license, use, or exploitation by third parties of products based on or incorporating the Material in any jurisdiction in which the Material is covered by an unexpired patent issued pursuant to the Application and (iii) payments made in lieu of such Net Sales or Royalties and actually received by the Company."