RECOUPMENT OF LICENSE FEES AND DEVELOPMENT FEES Sample Clauses

RECOUPMENT OF LICENSE FEES AND DEVELOPMENT FEES. PGE will receive a credit against payment of GLDI's share of the revenue split (as provided in Section 4.3 above) in the amount of the License Fees (both Initial and Long-Term) paid by PGE to GLDI, as provided in Sections 4.1.1 and 4.1.2 above, and such amounts will be recouped by PGE against payment of GLDI's share of the revenue split to the extent that GLDI's share exceeds the $150,000 per month minimum payments owed by PGE for each state for which it exercises license rights under this agreement. Stated alternatively, GLDI's share of the revenue split will not be paid to it, other than the $150,000 per month minimum license fees per state, until those amounts that otherwise would be payable to GLDI exceed the cumulative total of License Fees paid by PGE to GLDI. Thus, following recoupment by PGE of the $1,050,000 paid by it to GLDI as Initial License Fees, the Long-Term License Fees of $150,000 per month per state will constitute a minimum royalty, creditable against GLDI's portion of the long-term revenue split. PGE may at any time convert its credit into purchase of shares of common stock of GLDI at the price set forth in Section 3 above, and any exercise of this right to convert the credit into stock will reduce the total number of shares available for the issuance of warrants as set forth in Section 3 above.
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Related to RECOUPMENT OF LICENSE FEES AND DEVELOPMENT FEES

  • License Fees If so provided in the Prospectus, the Depositor may enter into a Licensing Agreement (the "Agreement") with a licensor (the "Licensor") described in the Prospectus in which the Trust(s), as consideration for the licenses granted by the Licensor for the right to use its trademarks and trade names, intellectual property rights or for the use of databases and research owned by the Licensor, will pay a fee set forth in the Agreement to the applicable Licensor or the Depositor to reimburse the Depositor for payment of the expenses. If the Agreement provides for an annual license fee computed in whole or part by reference to the average daily net asset value of the Trust assets, for purpose of calculating the accrual of estimated expenses such annual fee shall accrue at a daily rate and the Trustee is authorized to compute an estimated license fee payment (i) until the Depositor has informed the Trustee that there will be no further deposits of additional Securities, by reference to an estimate of the average daily net asset value of the Trust assets which the Depositor shall provide the Trustee, (ii) thereafter and during the calendar quarter in which the last business day of the period described in clause (i) occurs, by reference to the net asset value of the Trust assets as of such last business day, and (iii) during each subsequent calendar quarter, by reference to the net asset value of the Trust assets as of the last business day of the preceding calendar quarter. The Trustee shall adjust the net asset value (Trust Fund Evaluation) as of the dates specified in the preceding sentence to account for any variation between accrual of estimated license fee and the license fee payable pursuant to the Agreement, but such adjustment shall not affect calculations made prior thereto and no adjustment shall be made in respect thereof.

  • Sublicense Fees Licensee will pay Sublicense Fees indicated in Section 3.1(e) of the Patent & Technology License Agreement on or before the Quarterly Payment Deadline for the Contract Quarter.

  • Development Fees (a) For the development services described in Section 8 above, IMG will pay VERITAS at the "Annual Rate". The initial Annual Rate shall be one hundred eighty thousand dollars ($180,000) per person-year. Commencing January 1, 2002, the Annual Rate shall be adjusted to equal the product of the then current Annual Rate multiplied by a fraction, the numerator of which is the Consumer Price Index published for the December immediately preceding the January 1 in question and the denominator of which is the Consumer Price Index published for the immediately preceding December; provided, however, that any such increase in the Annual Rate shall not be greater than seven percent (7%) of the immediately preceding Annual Rate.

  • License Maintenance Fees Licensee will pay license fees in the amounts set forth in Sections 3.1(d) of the Patent & Technology License Agreement in accordance with the stated schedule.

  • Creation and Development Fee If the Prospectus related to a Trust specifies a creation and development fee, the Trustee shall, on or immediately after the end of the initial offering period, withdraw from the Capital Account, an amount equal to the unpaid creation and development fee as of such date and credit such amount to a special non-Trust account designated by the Depositor out of which the creation and development fee will be distributed to the Depositor (the "Creation and Development Account"). The creation and development fee is the per unit amount specified in the Prospectus for the Trust.

  • ROYALTIES AND REIMBURSEMENT 6.01 Licensee agrees to pay to PHS a noncreditable, nonrefundable license issue royalty as set forth in Appendix C within thirty (30) days from the date that this Agreement becomes effective.

  • Milestone Payments In addition to the payments set forth in Sections 4.1 through 4.3 above, Company shall pay Hospital milestone payments as follows:

  • License Maintenance Fee Beginning on the first anniversary of the Effective Date, and on each anniversary of the Effective Date thereafter during the term of the Agreement, Company shall pay to Medical School {***}. This annual license maintenance fee is nonrefundable and is not creditable against any other payments due to Medical School under this Agreement.

  • Milestone Fees Licensee will pay Milestone Fees indicated in Section 3.1(b) of the Patent & Technology License Agreement by the Quarterly Payment Deadline for the Contract Quarter in which the milestone events set forth in Section 3.1(b) of the Patent & Technology License Agreement are achieved.

  • Development Fee The fee for the packaging of a Company Property, including negotiating and approving plans and assisting in obtaining zoning and necessary variances and financing for a specific Company Property to be developed or under development, either initially or at a later date.

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