Royalty Sample Clauses
Royalty. In addition to the Base Supply Price, RELIANT shall pay to PRONOVA for the supply of the API (including any API supplied by a Third Party Manufacturer under Section 5.12(c) or 5.12(d)) for the Product and each Additional Product as a contingent supply price in the form of a royalty fee. The royalty fee shall be as follows: (i) in respect of the license of the Patents hereunder, [***] percent ([***]%) of the Net Sales of the Product until midnight of the day of expiration of the last to expire of the Patents; and (ii) in respect of the license of the Product Know-How hereunder, [***] percent ([***]%) of the Net Sales of the Product during the term of this Agreement. The royalty fees for each Additional Product, based on the Net Sales for each such Additional Product, are set out in Schedule 7.2. The royalty fees for each Additional Product shall be based [***] in respect of the license of Patents applicable thereto and [***] in respect of the license of Product Know-How applicable thereto. The royalty fee for Products and Additional Products shall be payable to PRONOVA on a semi-annual basis, so that the fee for the first six (6) months of each Commercialization Year is payable thirty (30) days after the end of this period, and the fee for the last six (6) [***]: Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. months of each Commercialization Year is payable thirty (30) days after the end of that period. At the same time as payments are made, an external auditor agreeable to both parties shall, at RELIANT’s cost, confirm the Net Sales. PRONOVA shall have the right to appoint an independent internationally recognized audit firm, reasonably acceptable to RELIANT, to audit the books of account of RELIANT in order to determine whether Reliant has properly reported and accounted for any royalty payments due to PRONOVA pursuant to this Section 7.2. Audits may be performed during regular business hours, not more than once in any calendar year during the term and upon reasonable prior notice to RELIANT. The audit fees shall be borne by PRONOVA unless such auditor determines that the amount actually due PRONOVA, in the aggregate, exceeds the greater of (a) USD 50,000 and (b) seven and one-half percent (7.5%) of the amounts paid by RELIANT hereunder, in which case the audit fees shall be borne by RELIANT, and PRONOVA shall be entitled to perform...
Royalty. Beglend shall pay royalties to InNexus equal to 3% of Net Sales Revenue, calculated and payable as follows:
(a) any Royalty payable hereunder shall be calculated on a Product by Product basis for each jurisdiction (each a "Market Area")in which any such Product is sold;
(b) the period for which Beglend is required to pay a Royalty hereunder shall commence upon the first Launch of Product in a particular Market Area, and shall continue for the patent life of any Patents comprising the Licensed Technology or any Joint Patents which may hereafter be filed with respect to such Product or upon which such Product is based in that Market Area (the "Royalty Payment Period");
(c) the first Royalty payment shall be calculated for the broken period commencing from the date of the first Launch of Product to and including the last day of Beglend's fiscal year in which the Launch of Product took place; and any succeeding Royalty payments shall be calculated from the first day until the last day of the corresponding fiscal year; and all Royalty payments shall be payable by cheque, cash, or bank draft, to InNexus' order, and shall be paid within 180 days of the completion of Beglend's fiscal year corresponding to that payment; provided that, notwithstanding the foregoing, Beglend shall pay quarterly installments of the estimated amount of Royalty payments due for each fiscal quarter completed after the date of Launch of Product, which shall be payable within 90 days after the end of each such quarter, and shall, when calculating the amount of Royalty due for that fiscal year in accordance with sub-section 6.5(c), adjust the installment payable for the final quarter in each fiscal year to reflect Beglend's estimate of the actual amount payable, after accounting for each of the prior payments made in that fiscal year; and Beglend shall pay all royalties in the currencies in which the revenues giving rise to such payment obligation are received by Beglend unless otherwise agreed in writing between the parties;
(d) On or before 180 days following the end of each fiscal year of Beglend after the first Launch of Product, Beglend shall deliver to InNexus a statement indicating, in reasonable detail, as of the last day of the immediately preceding fiscal year, the calculation of Net Sales Revenue for each Product sold in each Market Area and the aggregate of the Royalty payable with respect to each such Product and each such Market Area for such year;
(e) Beglcnd will maintain up...
Royalty. In partial consideration for licenses granted herein, Arcadia shall pay to Xxxxxx as follows:
(i) For Transgenic Oil containing GLA and/or DGLA as the sole product, a royalty of the Royalty Rate times Net Sales of Transgenic Oil; subject to any adjustments as provided below, the “GLA and/or DGLA Royalty Rate” shall be determined as follows: [...*...] [...*...] [...*...] [...*...] [...*...] [...*...] [...*...] [...*...] For example, if Arcadia has paid cumulative royalties of [...*...] and has Net Sales of Transgenic Oil in the next quarter of $[...*...], the calculation of royalty is as follows: ([...*...]% x $[...*...] = $[...*...]) + ([...*...]% x $[...*...] = $[...*...]) = $[...*...].
(ii) For Transgenic Oil containing ARA, a royalty equal to the ARA Royalty Rate times non-Xxxxxx Net Sales of ARA Transgenic Oil. Subject to any adjustments as provided below, the “ARA Royalty Rate” shall be determined as follows: Up to [...*...] MM [...*...] % up to [...*...] MM [...*...] % up to [...*...] MM [...*...] % up to [...*...] MM [...*...] % up to [...*...] MM [...*...] % > [...*...] MM [...*...] % Notwithstanding the applicable ARA Royalty Rate stated above, should the concentration of ARA in the ARA Transgenic Oil be other than 40%, the annual volume requirements shall change proportionally. For example, in the event that Arcadia produces an ARA Transgenic Oil that contains a concentration of 20% ARA, the annual volume requirements set forth in the chart above would be doubled, so that, for example, non-Xxxxxx sales of up to [...*...] MM pounds of ARA Transgenic Oil would be subject to an ARA Royalty Rate of [...*...]%. In the event that [...*...] or a successor or assignee to the [...*...] License produces more than [...*...] pounds of [...*...] with a GLA/DGLA and/or ARA content of greater than [...*...] percent ([...*...]%) but less than [...*...] percent ([...*...]%) in a given calendar year, the Royalty Rate beginning on the date [...*...]’s production exceeds the above threshold and continuing during the following twelve-month period, shall be reduced by [...*...] percent [...*...]). If [...*...] produces more than [...*...] of [...*...] with a residual one or more of GLA, DGLA or ARA content of greater than [...*...]%) but not more than [...*...] percent ([...*...]%) in the above example, the calculation of royalty would be as follows: ([...*...]% x $[...*...] = $[...*...]) + ([...*...]% x $[...*...] = $[...*...]) = $[...*...].
(iii) For a combination p...
Royalty. Leasee shall pay to lessor:
(1) A royalty of five percent (5%) of the gross value of uranium bearing ore mined and removed from the said lands. Gross value of uranium ore removed from the leased lands shall be the fair market value of ore of like grade and quality for uranium contained therein prevailing in the area of the leased lands at the time of removal. Determination of uranium content for purposes of determining the gross value on which royalty shall be paid shall be made on a calendar monthly basis using a weighted arithmetic average of uranium content on all lots of ore mined and removed from the leased lands during said calendar month. The mineral content of all ore mined and removed from the leased premises shall be determined by lessee in accordance with standard sampling and analysis procedures. Lessor upon request to lessee and at lessor’s expense shall have the right to have a representative present at the time samples are taken and, at lessor’s request, shall be furnished a portion of all or any samples taken without cost to lessor.
(2) A royalty of one dollar ($1.00) per wet ton (2,000 pounds)on all merchantable sulphur mined, removed, and recovered from the leased lands. If the lessor elects to take its royalty in kind, the royalty shall be five percent (5%) of the merchantable sulphur mined, such sulphur to be good merchantable mine-run sulphur at the mine.
(3) A royalty of five six percent (5%) *(6%) of the quantity or gross value at the mine of all merchantable sodium, calcium carbonate, shortite, potassium, trona and associated mineral salts mined, revolved and recovered from the leased lands; provided, however, that the royalty so paid to lessor shall not be less than twenty-five cents (25) per ton of 2000 pounds. * As per Board Matter Dated April 8, 1999.
(4) A royalty of five percent (5%) of the quantity or gross value at the mine of all merchantable phosphate mined, removed and recovered from the leased lands.
Royalty. 9.1 Cavalier will pay to Gervais an annual royalty equal to three percent (3%) of Net Smelter Returns, subject to Section 9.4.
9.2 After the exercise of the Option, payment of the Royalty will be made quarterly within 30 days after the end of each yearly quarter based upon a year commencing on the 1st day of January and expiring on the 31st day of December in any year in which production occurs. Within 60 days after the end of each year for which the Royalty is payable, the records relating to the calculation of Net Smelter Returns for such year will be audited by Cavalier and any adjustments in the payment of the Royalty will be made forthwith after completion of the audit. All payments of the Royalty for a year will be deemed final and in full satisfaction of all obligations of Cavalier in respect thereof if such payments or calculations thereof are not disputed by Gervais within 60 days after receipt by Gervais of the said audit statement. Cavalier will maintain accurate records relevant to the determination of Net Smelter Returns and Gervais, or its authorized agent, shall be permitted the right to examine such records at all reasonable times.
9.3 The determination of Net Smelter Returns royalty hereunder is based on the premise that production will be developed solely on the Claims except that Cavalier will have the right to commingle ore mined from the Claims with ore mined and produced from other properties provided Cavalier will adopt and employ reasonable practices and procedures for weighing, sampling and assaying, in order to determine the amounts of products derived from, or attributable to commingled ore mined and produced from the Claims. Cavalier will maintain accurate records of the results of such sampling, weighing and analysis with respect to any commingled ore mined and produced from the Claims. Gervais or its authorized agents will be permitted the right to examine at all reasonable times such records pertaining to comingling of ore or to the calculation of Net Smelter Returns.
9.4 Cavalier shall have the right at any time to purchase one-half of the Royalty by paying to Gervais the sum of $1,000,000 per Royalty percentage point.
Royalty. (a) Upon the Commencement of Commercial Production, the Optionee shall pay to the Optionor the NSR Royalty, being equal to 2% of Net Smelter Returns, on the terms and conditions as set out in this paragraph and in Schedule "B" hereto.
(b) Installments of the NSR Royalty payable shall be paid by the Optionee to the Optionor immediately upon the receipt by the Optionee of the payment from the smelter, refinery or other place of treatment of the proceeds of sale of the minerals, ore, concentrates or other product from the Property.
(c) Within 120 days after the end of each fiscal year, commencing with the year in which Commencement of Commercial Production occurs, the accounts of the Optionee relating to operations on the Property and the statement of operations, which shall include the statement of calculation of NSR Royalty for the year last completed, shall be audited by the auditors of the Optionee at its expense. The Optionor shall have 45 days after receipt of such statements to question the accuracy thereof in writing and, failing such objection, the statements shall be deemed to be correct and unimpeachable thereafter.
(d) If such audited financial statements disclose any overpayment of NSR Royalty by the Optionee during the fiscal year, the amount of the overpayment shall be deducted from future installments of NSR Royalty payable.
(e) If such audited financial statements disclose any underpayment of NSR Royalty by the Optionee during the year, the amount thereof shall be paid to the Optionor forthwith after determination thereof.
(f) The Optionee agrees to maintain for each mining operation on the Property, up-to-date and complete records relating to the production and sale of minerals, ore, bullion and other product from the Property, including accounts, records, statements and returns relating to treatment and smelting arrangements of such product, and the Optionor or its agents shall have the right at all reasonable times, including for a period of 12 months following the expiration or termination of this Agreement, to inspect such records, statements and returns and make copies thereof at its own expense for the purpose of verifying the amount of NSR Royalty payments to be made by the Optionee to the Optionor pursuant hereto. The Optionor shall have the right to have such accounts audited by independent auditors at its own expense once each fiscal year.
(g) The Optionee can acquire up to one percent, (1% or one-half of the total 2% ) of the NSR ...
Royalty. The license granted herein shall be royalty-free.
Royalty. 3.1 In consideration of the Assignment of Paragraph 2.1 of Article II, Assignee shall pay Assignor, royalties as set forth in Paragraph 3.2 of this Article III.
3.2 ASSIGNEE agrees to pay ASSIGNOR an accrued royalty in the amount of five percent (5%) of the Gross Selling Price for each product manufactured, distributed, sold, etc. that is covered by/under, or becomes covered by a Letters of Patent, derived or accomplished by the Patent Application set forth in Paragraph 1.1 of Article I. To the extent ASSIGNEE grants a license to a third party under Assignor Patent Rights and receives royalties or other remuneration therefor, then ASSIGNEE agrees to pay ASSIGNOR five percent (5%) of such royalties and/or license fees.
3.3 No royalty shall be paid twice on the same Assigned Product and any customer or ASSIGNEE or its Licensees is entitled to resale or export the Assigned Product anywhere in the world without the payment of additional royalties.
3.4 Royalties will accrue on each product manufactured, distributed, or sold that is covered by/under a Patent Pending Application. Royalties will not be paid or disbursed until such time as the actual Patent has issued. In the event that a Patent Application is; a) abandoned, b) allowed no claims, c) rejected, or d) determined to be without the ability to file arguments that would result in Valid Claims, then no royalty would be paid, and all royalties accrued would revert to ASSIGNEE. In the event a Patent Application results in an issuance of a United States Letter of Patents, then all accrued royalties will be dispersed in accordance with Paragraphs 6.1 and 6.2 of Article VI.
3.5 Minimum Annual Royalties are as follows: Upon and from the date of Patent Issuance - Year One - 0 Year Two - 0 Year Three - $ 10,000.00 Year Four - $ 25,000.00 Year Five - $ 40,000.00 Year Six - $ 60,000.00 Year Seven - $ 75,000.00 Every Year Thereafter Until the Expiration of the Letters of Patent - $100,000.00
Royalty. 8.1 In consideration of the rights granted under clause 2, the Licensee shall pay to the Licensor royalties, on each twelve month time period, first calculated from the date of execution of this Agreement, and calculated on a scale as follows:
(a) 8% of the first $50,000,000.00 of Gross Revenue, or any part thereof,
(b) 3% of the second $50,000,000.00 of Gross Revenue, or any part thereof
(c) 1% of any and all Gross Revenue over $100,000,000.00. 8% will be the licensee fee on the first $50,000,000.00 of Gross Revenue providing that Clenergen never charges anyone else a lesser percentage, and if so, then the 8% will revert to the lowest of any percentage Clenergen charges for a license fee.
8.2 Royalties payable under this agreement shall be paid in US Dollars within 30 days of the end of each successive Quarterly Period.
8.3 At the same time as payment of royalties falls due, the Licensee shall submit or cause to be submitted to the Licensor a statement in writing recording the calculation of such royalties payable and due.
8.4 The Licensee shall keep proper records and books of account and be open at all times to inspection and audit by the Licensor (or its duly authorised agent or representative), who shall be entitled to take copies of or extracts from the same. If such inspection or audit should reveal a discrepancy in the royalties paid from those payable under this agreement, the Licensee shall immediately make up the shortfall and reimburse the Licensor in respect of any professional charges incurred for such audit or inspection.
8.5 The provisions of this clause 8 shall remain in effect notwithstanding termination or expiry of this agreement until the settlement of all subsisting claims by the Licensor.