Royalty and Other Payments. Except as set forth on Schedule 7.24, no Obligor, nor any of its Subsidiaries, is obligated to pay any royalty, milestone payment, deferred payment or any other contingent payment.
Royalty and Other Payments. Except as set forth on Schedule 7.26 and commissions or other sales based compensation to its employees or agents, no Obligor is obligated to pay any material royalty, milestone payment, deferred payment or any other contingent payment in respect of any Product.
Royalty and Other Payments. Except as set forth on Schedule 6.27 to the Disclosure Letter, as of the Effective Date, no Loan Party nor any of their respective Subsidiaries is obligated to pay any royalty, milestone payment, deferred payment or any other contingent payment in respect of any Product.
Royalty and Other Payments. 67 7.24 Non-Competes .......................................................................................................67 7.25
Royalty and Other Payments. As of the Closing Date, except as set forth on Schedule 6.30, neither the Borrower, nor any of its Subsidiaries, is obligated to pay any royalty, milestone payment, deferred payment or any other contingent payment in respect of any Key Product (except pursuant to the Royalty Financing).
Royalty and Other Payments. 4.1 As partial consideration to UNIVERSITIES for the licenses and other rights granted to BDS under this Agreement, BDS shall issue to each UNIVERSITY two percent (2%) of the outstanding common shares of BDS as of this date. The number of shares of stock which shall be issued hereunder to each UNIVERSITY is seventy three (73). Attached is a copy of BDS's Certificate of Incorporation and By-Laws. BDS shall issue to UNIVERSITIES additional shares of common stock at such time or times as may be necessary to assure that each UNIVERSITY's shares of stock in BDS will, without further contribution of capital by a UNIVERSITY, continue to comprise two percent (2%) of the outstanding common stock of BDS on a fully diluted basis until the valuation of BDS exceeds Five Million Dollars ($5,000,000). However, this antidilution right shall not apply in respect of dilution resulting from options or other compensatory stock issuances of an aggregate amount not to exceed 15% (post issuance and fully diluted) of the outstanding shares (or share equivalents) of BDS common stock. After such anti-dilution protection lapses, UNIVERSITIES shall possess a preemptive right to maintain their stock ownership percentage by the purchase of additional equity at the price therefor paid by such outside investors.
Royalty and Other Payments. As consideration for the rights granted to Company herein, Company or its Affiliate shall make the payments to Licensor set forth in this Section 3.1:
(a) Company or its Affiliate shall pay Licensor either (i) in the event that Company or its Affiliate sells a Product, a royalty of [***] percent ([***]%) based on the Net Sales of all Products sold by Company or its Affiliate anywhere in the world during the Royalty Term (the “Base Rate”), or (ii) in the event that Company or its Affiliate grants any Third Party a sublicense to market, distribute, or otherwise commercialize a Product, the greater of (A) [***]percent ([***]%) of all royalty payments, on a Product-by-Product and country-by-country basis, Company or its Affiliate receives from such sublicensees based on the sales of all Products sold by such sublicensees anywhere in the world during the Royalty Term, and (B) a royalty of [***] percent ([***]%) based on Net Sales of all Products sold anywhere in the world by such sublicensees during the Royalty Term, provided, to the extent such sublicense is granted by Company after Product is launched for commercial sale in a particular country, the applicable rate for the royalty based on Net Sales of all Products sold in such country by such sublicensee shall be [***] percent ([***]%). Commencing following the payment to Arena of aggregate royalty payments under this Section 3.1(a) equal to, in the aggregate, [***] U.S. dollars ($[***]), the royalty rate for Products sold by Company and its Affiliates for end use in the People’s Republic of China will be [***] percent ([***]%); the Base Rate will continue to apply with respect to all Products sold by Company and its Affiliates for end use in the rest of the world. No royalty shall accrue under this Section 3.1(a) on sales among Company, its Affiliates, and their respective sublicensees unless Company, its Affiliate, or their sublicensee is the end, user of the Product.
(b) In the event that Company or its Affiliate grants any Third Party a sublicense to market, distribute or otherwise commercialize a Product, in addition to any payments due under Section 3.1(a), Company or its Affiliate shall pay Licensor [***] percent ([***]%) of all consideration, such as but not limited to license fees, development and commercialization milestone consideration, received by Company or its Affiliates in connection with the licensing or sublicensing during the Royalty Term.
(c) In the event that Company or its Affiliate sel...
Royalty and Other Payments. Except as set forth on Schedule 3.29, no Loan Party, or any of its Subsidiaries, is obligated to pay any royalty, milestone payment, deferred payment or any other contingent payment in respect of any Product.
Royalty and Other Payments. Except as set forth on Schedule 6.26, no Credit Party and none of its Subsidiaries is obligated to pay any royalty, milestone payment, deferred payment or any other contingent payment in respect of any Product.
Royalty and Other Payments. Royalties shown to have accrued by each royalty report provided for under Article 7 of this Agreement shall be due and payable on the date such royalty report is due. Payment of royalties in whole or in part may be made in advance of such due date.
