Royalties and Fees. 2.1 Millennium hereby acknowledges that full ownership title to the Products belongs to Abacus.
2.2 Millennium agrees to pay Abacus royalties (herein referred to as "Royalties") and fee payments ("Fees") based on Net Sales Revenues earned by Millennium from sale of the Products on the following basis.
2.2.1. A 10% Royalty of the Net Sales Revenues of CheckMy 2000 Software.
2.2.2. A 10% Royalty of the Net Sales Revenues of CheckMy 2000 Easy Learning Guides.
2.2.3. A 5% Fee based on Net Sales Revenues of Products for the provision of technical support for all Products supplied by Abacus. Net Sales Revenues for the purposed of calculating and determining Royalties and Fees for the duration of this license will be sales revenues received by Millennium from the sale of Products, before distributor discounts, less full provision for credits provided for returned Products and provision for bad debts which remain unrecovered after 12 months.
Royalties and Fees. 3.1 LICENSEE shall pay to LICENSORS jointly and severally, during the term of the license of paragraph 2.1, a total royalty of four percent (4%) of the Net Sales of all Licensed Products sold by LICENSEE and its Affiliates. LICENSEE shall pay to LICENSORS jointly and severally, during the term of the license of paragraph 2.1, a total royalty of twenty percent (20%) of the royalties which LICENSEE and its Affiliates receive from Sublicensees for sublicenses of the Licensed Products or Licensed Processes. No multiple royalties shall be due because the sale or sublicense of any Licensed Product or Licensed Process is described in more than one sentence of this section 3.1. In the event of any such overlap, the sentence which most accurately describes the relevant transaction at issue shall prevail. On Net Sales or sublicenses between LICENSEE and its Affiliates, royalties shall be payable only on the resale or resublicense by such Affiliate.
3.2 As further consideration for the license and other rights granted to LICENSEE hereunder, (a) LICENSEE shall pay to LICENSORS jointly and severally a one-time patent issue fee of One Hundred Thousand Dollars ($100,000) payable in cash or registered stock of the Licensee, (b) LICENSEE shall pay to LICENSORS jointly and severally a one-time milestone payment of Two Hundred and Fifty Thousand Dollars ($250,000) payable in cash or registered stock of the LICENSEE upon successful completion of a Phase III clinical trial for a licensed Products or Licensed Processes, and (c) LICENSEE shall pay to LICENSORS jointly and severally a one-time milestone payment of One Million Dollars ($1,000,000) payable in cash or registered stock of the Licensee upon receiving new drug approval for Licensed Products or Licensed Processes.
Royalties and Fees. As consideration for the intellectual property licensed by STS under this Agreement, the Principal Investigator (on behalf of himself or herself and the Investigative Team) shall pay to STS as a royalty an amount based on the volume of data to be provided by STS in accordance with the Application, computed in accordance with the formula set forth in Exhibit C attached hereto and incorporated herein, within thirty (30) days after receipt of an invoice therefor from STS. In addition, if the Principal Investigator requests support from STS in connection with the intellectual property licensed by STS under this Agreement (see Subsection 7(f)), any such support that STS agrees to provide shall be provided for a fee to be agreed upon in advance. STS shall have no obligation to provide the PUF or otherwise perform any of its obligations under this Agreement until it has received full payment of all monies owed hereunder.
Royalties and Fees. The Customer will pay a Royalty to the Supplier on each End Product, for which Royalties are due, as defined in section 12.2 at the following rates:
Royalties and Fees. 4.1 As partial consideration for the rights granted to Licensee under this Agreement and as a nonrefundable and non-creditable license fee, Licensee shall pay to Salk (a) Thirty Thousand Dollars ($30,000.00) in cash, due upon execution, and (b) [**] Dollars ($[**]) in cash annually thereafter for the Term, beginning on the one-year anniversary date of the Effective Date. The annual fee is non-refundable and not subject to proration.
4.2 Licensee agrees to pay to Salk the sum of five thousand dollars ($5,000) in cash, due upon execution, as payment of a share of the cost of general administration, filing, prosecution and maintenance of the Patent Rights.
4.3 Licensee shall pay to Salk the following royalties:
(i) [**] percent ([**]%) on Net Sales of Licensed Products up to [**] dollars ($[**]), calculated from the Effective Date,
(ii) [**] percent ([**]%) on Net Sales of Licensed Products [**] dollars ($[**]) up to [**] dollars ($[**]), calculated from the Effective Date,
(iii) [**] percent ([**]%) on Net Sales of Licensed Products over [**] dollars ($[**]), calculated from the Effective Date.
4.4 All payments made to Salk under Paragraphs 4.1 and 4.2 of this Agreement shall be made on the dates defined therein. Royalty payments made to Salk under Paragraph 4.3 of this Agreement shall be made quarterly. All payments made to Salk under this Agreement shall be made by wire transfer to the account of Salk at: Send wire to: Bank of America, San Francisco, CA Route No. (ABA#): 0000-0000-0 Swift No.: XXXXXX0X Credit to: The Salk Institute for Biological Studies Account No.: [**] Branch Name: B of A San Diego Commercial Banking Office #1450 Additional Message: Sender’s name, purpose of wire, & Attn: Xxxxxxxxx Xxxxxxx, Patent and License Administrator or any other bank account that may be notified in writing by Salk to Licensee from time to time.
4.5 No royalty payment shall be altered by any tax on royalties which may be imposed on, applied to or withheld from the payment. Licensee shall be responsible for the satisfaction of the taxes so that the payments to Salk are not reduced thereby.
Royalties and Fees. All royalties and fees outlined hereafter become payable as scheduled herein:
Royalties and Fees. In consideration of rights granted by METHODIST to LICENSEE under this Agreement, LICENSEE will pay or issue to METHODIST each the following:
(a) reimbursement of all of METHODIST’s costs incurred before the Effective Date in connection with the filing and prosecution of the Existing Patent Applications. Such fee shall be due on the Effective Date and payable within thirty (30) days after the Effective Date.
(b) a license maintenance fee in the amount of Five Thousand Dollars ($5,000) per year, invoiced by METHODIST to Licensee on or within thirty days after the anniversary of the Effective Date until the first Sales Revenues occur. Such fee shall be due within thirty days after receipt of the invoice. All such amounts are creditable against any royalties that become due under Section 4.1(d).
(c) within five (5) days of the Effective Date, an issuance to METHODIST of a stock certificate evidencing 750,000 shares of common stock of LICENSEE, par value $0.0001, representing [***] of the outstanding founder’s stock of LICENSEE as of the Effective Date (the “Shares”). Under separate agreements, the LICENSEE will issue the equivalent amount of shares to the inventors of the Licensed Patent Rights in proportion to a ration provided by METHODIST. METHODIST acknowledges and agrees that Shares will be restricted securities and will not be registered with the Securities and Exchange Commission or qualified with any state securities authority and that, accordingly, the Shares may not be distributed, sold or otherwise transferred except pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Act”) or pursuant to an available exemption from the registration requirements of the Act. The Shares to be issued pursuant to this Section 4.1(c) were made pursuant to a Stock Issuance Agreement that was attached to this Agreement as Attachment D on the Effective Date and which was duly executed by METHODIST and LICENSEE before the amendment and restatement of this Agreement.
(d) a running royalty on Sales Revenue for Licensed Products and Licensed Services Sold by LICENSEE or any of its Affiliates or on Sublicensing Revenues, determined in accordance with Attachment C; provided that the minimum amount of annual running royalties, beginning with respect to calendar year starting January 1, 2025 and for each calendar year thereafter until this Agreement is terminated shall be Fifty Thousand Dollars ($50,000). If the annual royalties payab...
Royalties and Fees. (The information marked by *** has been omitted by a request for confidential treatment. The omitted portion will be filed separately with the Commission.)
Royalties and Fees. For the rights, privileges and license granted hereunder, Licensee shall pay fees and royalties to UARF in the manner hereinafter provided to the end of the term of the Patent Rights or until this Agreement shall be terminated as hereinafter provided: A License fee of that number of shares of each class of Licensee’s stock as will amount to not less than ___ percent (__%) of the total authorized shares for each class; and such additional number of shares from time-to-time as may be necessary for UARF to maintain at all times at least a ___ percent (__%) ownership stake and share in Licensee. Registration and transfer rights for such shares shall be no less favorable than that afforded other insiders, and shall piggyback on initial or, with respect to additional shares, the next, Licensee registrations. The License fee shall be deemed earned and due immediately upon the execution of this Agreement. Beginning January 1, 201_, Running Royalties equal to _____ percent (__%) of Net Sales of the Licensed Products and Licensed Processes made, used, leased or sold by or for Licensee. Beginning January 1, 201_, Running Royalties equal to _____ percent (__%) of Net Sales of the Licensed Products and Licensed Processes made, used, leased or sold by or for Licensee. Minimum Royalties of ____ Thousand Dollars ($__0,000) for the year 201_ are payable March 31, 201_. Minimum Royalties of ______ Thousand Dollars ($__0,000) for the year 201_ are payable March 31, 201_. Minimum Royalties of ______ Thousand Dollars ($__0,000) for the year 201_ are payable March 31, 201_,and each March 31st thereafter. Licensee may offset Running Royalties earned and paid in any calendar year against the Minimum Royalty payable for that year.
Royalties and Fees. 7.1 Compaq shall pay Altiris license fees of $2,000,000 (US) as follows: $800,000 upon the Effective Date; $200,000 upon delivery and acceptance to Compaq of Code Complete Software for Quick Silver [*] (as described in the Statement of Work); $500,000 upon delivery and acceptance to Compaq of Gold Software for Quick Silver [*]; $250,000 upon delivery and acceptance of Gold Software for Quick Silver [*]. $250,000 upon delivery and acceptance of Gold Software [*] that includes Quick Silver [*].
7.2 [*]
