Common use of ROYALTIES AND EXPENSES Clause in Contracts

ROYALTIES AND EXPENSES. The Institution shall distribute Net Revenues to the IC concurrently with distributions it makes under the Institution's patent policy, but in any case not later than April 1 for the preceding calendar year, on the following basis: (a) ______ percent (X%) of the Net Revenues as a royalty to the Institution and (b) ______ percent (X%) of the Net Revenues as a royalty to the IC. All payments to the IC, required under this Agreement, shall be in U.S. dollars and payment options are listed in Appendix A. Any loss of exchange, value, taxes, or other expenses incurred in the transfer or conversion to U.S. dollars shall be paid entirely by the Institution; and Additional royalties may be assessed by the IC on any payment that is more than ninety (90) days overdue at the rate of one percent (1%) per month. This one percent (1%) per month rate may be applied retroactively from the original due date until the date of receipt by the IC of the overdue payment and additional royalties. The payment of any additional royalties shall not prevent the IC from exercising any other rights it may have as a consequence of the lateness of any payment. The Institution shall submit to the IC annual statements of itemized Expenses as defined in Paragraph 2.4 and shall deduct the Expenses as provided for in Paragraph 2.3, except where IC has identified discrepancies in billing by the Institution, in which case, deduction of the contested item(s), as a part of the Expenses as provided for in Paragraph 2.4, shall be delayed pending resolution thereof. In no event shall the IC be obligated to bear any costs for Expenses under this Agreement. Each party shall be solely responsible for calculating and distributing to its respective Inventor(s) of the Patent Rights any share of Net Revenues in accordance with its respective patent policy, royalty policy, or Federal law during the term of this Agreement.

ROYALTIES AND EXPENSES. 6.1 The Institution shall distribute Net Revenues to the IC NIH concurrently with distributions it makes under the Institution's patent policy, but in any case not later than April 1 for the preceding calendar year, on the following basis: (a) ______ percent (X%) of the Net Revenues as a royalty to the Institution and (b) ______ percent (X%) of the Net Revenues as a royalty to the IC. NIH. 6.2 All payments to the ICNIH, required under this Agreement, shall be in U.S. dollars and payment options are listed in Appendix A. A. (a) Any loss of exchange, value, taxes, or other expenses incurred in the transfer or conversion to U.S. dollars shall be paid entirely by the Institution; and and (b) Additional royalties may be assessed by the IC NIH on any payment that is more than ninety (90) days overdue at the rate of one percent (1%) per month. This one percent (1%) per month rate may be applied retroactively from the original due date until the date of receipt by the IC NIH of the overdue payment and additional royalties. The payment of any additional royalties shall not prevent the IC NIH from exercising any other rights it may have as a consequence of the lateness of any payment. . 6.3 The Institution shall submit to the IC NIH annual statements of itemized Expenses as defined in Paragraph 2.4 2.5 and shall deduct the Expenses as provided for in Paragraph 2.32.4, except where IC NIH has identified discrepancies in billing by the Institution, in which case, deduction of the contested item(s), as a part of the Expenses as provided for in Paragraph 2.4, shall be delayed pending resolution thereof. . 6.4 In no event shall the IC NIH be obligated to bear any costs for Expenses under this Agreement. . 6.5 Each party shall be solely responsible for calculating and distributing to its respective Inventor(s) of the Patent Rights any share of Net Revenues in accordance with its respective patent policy, royalty policy, or Federal law during the term of this Agreement.

ROYALTIES AND EXPENSES. The Institution shall distribute Net Revenues to the IC NIH concurrently with distributions it makes under the Institution's patent policy, but in any case not later than April 1 for the preceding calendar year, on the following basis: (a) ______ percent (X%) of the Net Revenues as a royalty to the Institution and (b) ______ percent (X%) of the Net Revenues as a royalty to the ICNIH. All payments to the ICNIH, required under this Agreement, shall be in U.S. dollars and payment options are listed in Appendix A. Any loss of exchange, value, taxes, or other expenses incurred in the transfer or conversion to U.S. dollars shall be paid entirely by the Institution; and Additional royalties may be assessed by the IC NIH on any payment that is more than ninety (90) days overdue at the rate of one percent (1%) per month. This one percent (1%) per month rate may be applied retroactively from the original due date until the date of receipt by the IC NIH of the overdue payment and additional royalties. The payment of any additional royalties shall not prevent the IC NIH from exercising any other rights it may have as a consequence of the lateness of any payment. The Institution shall submit to the IC NIH annual statements of itemized Expenses as defined in Paragraph 2.4 2.5 and shall deduct the Expenses as provided for in Paragraph 2.32.4, except where IC NIH has identified discrepancies in billing by the Institution, in which case, deduction of the contested item(s), as a part of the Expenses as provided for in Paragraph 2.4, shall be delayed pending resolution thereof. In no event shall the IC NIH be obligated to bear any costs for Expenses under this Agreement. Each party shall be solely responsible for calculating and distributing to its respective Inventor(s) of the Patent Rights any share of Net Revenues in accordance with its respective patent policy, royalty policy, or Federal law during the term of this Agreement.