Royalty and Payment. 7.1 In consideration of the license granted in ARTICLE II, LICENSEE shall remit to LICENSOR a nonrefundable license fee in the amount of Twenty Thousand Dollars ($20,000.00), which shall be paid upon the execution of this AGREEMENT by LICENSEE.
Royalty and Payment. Unless indicated otherwise in the Order Form, Licensee will pay the Royalty to Mintel within thirty (30) days of receipt of Mintel’s invoice. For each year of a multiple year Term and for each Renewal Term, Mintel will invoice the Royalty year by year. Mintel may issue any invoice in electronic or print format. A fee for late payments will be assessed equal to the lesser of one and one half percent (1.5%) per month and the maximum rate permitted by law. Unless expressly provided, the Royalty excludes any sales, use, excise, or other applicable taxes, and Licensee will pay or reimburse Mintel for any such taxes (excluding any applicable taxes based on Mintel’s income) for which either Party may become or be held responsible.
Royalty and Payment. 3.1 Subject to Clause 3.2, the Licensee shall pay to BTI a royalty of US Dollars [***] of revenue on a quarterly basis, based on the sales and distribution of the Territory Licensed Products (excluding those manufactured and supplied to BTI) in the Territory as invoiced to the Licensee for the duration of the Term, in accordance to Clause 3 below (“Royalty Payment”). For the avoidance of doubt, the aforesaid Territory Licensed Products must be manufactured based on the existing BTI Patents.
Royalty and Payment. 4.1 In consideration for this License Agreement and the licenses granted under Article 2 of this License Agreement, FFI shall pay to DIVERSA for each Product sold and/or distributed by FFI or any Affiliate or sublicensee of FFI during the term of this License Agreement, a [*****] royalty of [*****] for such Product.
Royalty and Payment. 5.1 In consideration of the grant hereunder, Licensee shall pay Licensor royalties in U.S. dollars at a rate of five percent (5%) of the Net Sales for all Licensed Products sold and collected under the Licensed Marks. Licensee further agrees to utilize commercially reasonable efforts to increase sales of the Licensed Products during each year of the Term. If any sales of Licensed Products are made in currencies aside from the U.S. dollar, then Royalty payments for those sales shall still be made in U.S. Dollars and shall be based on the equivalent amount in local currency calculated on the basis of the exchange rate or rates actually paid by Licensee less reasonable and customary bank fees and related exchange charges actually incurred by Licensee with respect to non-U.S currencies, as certified by Licensee’s independent auditing firm or other third party reasonably acceptable to Licensor.
Royalty and Payment. 7.1 For purposes of Article VII, the term ROYALTY-BASE PRODUCTS shall include ROYALTY-BASE SERVICES and ROYALTY-BASE PROCESSES.
Royalty and Payment. 7.1 In consideration of the license granted in ARTICLE II, LICENSEE shall remit to LICENSOR a nonrefundable license fee in the amount of [****] upon the execution of this Agreement by LICENSEE. This license fee shall be remitted to LICENSOR within thirty (30) days after the LICENSE COMMENCEMENT DATE.
Royalty and Payment. 4.1 We will issue you a Recipient Created Tax Invoice for the Royalty.
Royalty and Payment. Licensee shall pay to Licensor the fixed amount of fifty thousand dollars ($50,000.00) within seven (7) days of the execution of this Agreement by all parties as full payment in advance for the rights and licenses granted herein during the first twelve (12) months of the Term. Thereafter, on each anniversary of the Effective Date (beginning on September 28, 2019 and each September 28th thereafter during the Term), Licensee shall pay an up-front, annual, fixed license fee of fifty thousand dollars ($50,000.00) as payment in advance for following twelve ( 12) months of the Term. For the avoidance of doubt, it is understood that once a Party provides notice of non-renewal as set forth in Section 5.1 above, no additional payments will be required after the date of such notice. In the event of any delay or failure of payment under this Agreement, Licensor shall give written notice to Licensee, and Licensee shall have seven (7) days after receipt of such notice to cure such payment delay. If payment is not made within the cure period, the Term (and all licenses and rights granted herein) shall terminate automatically thirty (30) days after the receipt of such notice, subject to the provisions of Section 7 above.
Royalty and Payment. 3.1 Royalty As agreed by both parties in Exhibit B. 3.2 Initial Payment 1) Licensee has made an initial escrow balance(“Escrow”) of US$ xx as an advance payment. 2) The Parties agree that, during the Terms of this Agreement, the Parties will review the sales report of such licensed products have been sold. If the Parties agree that such licensed products will be initiated to purchase again, such initiated quantity of such licensed products shall not exceed to the quantity of xx pieces. If Licensor requests Licensee to initiate any production more than xx pcs, Licensee reserves the right to charge any extra escrow balance for the sufficient funds. 3.2 Report Within ten(10) days after the conclusion of each Calendar Month commencing with the first Calendar Month in which Net Sales are generated, Licensee shall deliver to Licensor a report stating the relevant sales information including sales volume, sales amount, tax withholding amount and total amount payable to Licensor, etc.
