Royalty Calculations. 24 4.02 Supply of Licensed Products and/or 4.03 Combination Products ............................................ 24
Royalty Calculations. The royalties and allocation of Net Sales set forth in Subsection 4.01.01 above shall be in lieu of the royalties set forth in Section 3.05 hereof with respect to Net Sales of Licensed Products or Combination Products for the United States. Net Sales for the United States subject to royalty calculations pursuant to Subsection 4.01.01 shall also not be used in computing total annual Net Sales of Licensed Products and Combination Products pursuant to Section 3.
Royalty Calculations. Royalties shall not be due with respect to Licensed Products for which the purchase price has been refunded within [****] of delivery. In the event that only part of the purchase price is refunded, the royalty shall be applied in proportion to the amount of the purchase price not refunded.
Royalty Calculations. (a) For purposes of this Agreement, “Net Sales” of Licensed Products with respect to a particular period means the amounts that Lombard collects against invoices to Third Parties for sales of Licensed Products listed on Exhibit A and Licensed Products covered by the Jervis Patent, less sales discounts, deductions, transactions costs or adjustments. Without limitation of the foregoing, Net Sales shall include all transfers of Licensed Products to Third Parties that Lombard records as a sale pursuant to generally accepted accounting principles consistently applied. The sales that are denominated in currencies other than U.S. Dollars shall be converted into U.S. Dollars based on the daily exchange rates listed in the Wall Street Journal for the last day of the Half Year period in which such sales occurred, or on such other basis to which the parties may hereafter mutually agree in writing.
Royalty Calculations. Royalties, if any, are paid against revenue recorded by the party licensing to the end-user for a calendar royalty payment quarter Payment will be made by the last day of the first calendar month following the close of the royalty payment quarter. All payments will be made in U.S. Dollars. Payments based on foreign revenue will be converted to U.S. dollars on a monthly basis at the rate of exchange published by Reuters Financial Service on approximately the same day each month.
Royalty Calculations. Licensee will calculate and report Royalties for each Product as follows:
Royalty Calculations. Royalties, if any, are paid against revenue recorded by Buyer for a royalty payment quarter. Payment will be made [*] following the royalty payment quarter. In the U.S., a royalty payment quarter ends on the last business day of the calendar quarter. Outside of the U.S., a royalty payment quarter is defined according to Buyer's current administrative practices. Royalties will be paid less adjustments and refunds due to Buyer. Buyer will provide a statement summarizing the royalty calculation with each payment. All payments will be made in U.S. dollars. Payments based on foreign revenue will be converted to U.S. dollars on a monthly basis at the rate of exchange published by Reuters Financial Service on approximately the same day each month. Terms for payment of any non-royalty payments will be specified in the relevant SOW or WA. [*]=Confidential Treatment Requested--Edited Copies Form Title: Licensed & Developed Works Agreement 3 of 8 Form Release: 8/98 Revision: 11/98 4 LICENSED & DEVELOPED WORKS AGREEMENT [*] [*]
Royalty Calculations. Royalty payments due pursuant to Sections 8.4(a) and 8.4(b) shall be calculated ***. Therefore, *** The example below is for illustrative purposes only. Example: ***
Royalty Calculations. In determining the royalties payable under clause 6.1, the following provisions will apply:
(a) the royalty percentage to be used for the first Reporting Period of each calendar year will be the royalty percentage that applied at the end of the previous calendar year. If at any time during any calendar year the total Net Sales Value generated by Derma Sciences equals an amount that would mean a higher royalty percentage would be payable by Derma Sciences, Derma Sciences will at the end of the Reporting Period in which such event occurred:
(i) use the higher royalty percentage when calculating the royalties payable to Comvita for such Reporting Period; and [*] Redacted pursuant to a request for confidential treatment submitted to the SEC.
(ii) pay, within 30 days following the end of that Reporting Period, an additional amount equal to the difference between the royalties that would have been paid by Derma Sciences for any previous Reporting Periods in that same calendar year had the higher royalty percentage applied, and the royalties that were actually paid by Derma Sciences for such Reporting Periods;
(b) if at the end of a calendar year, the royalty percentage used for calculating royalties during the first three Reporting Periods of that calendar year is determined to have been higher than the royalty percentage that should have been used by Derma Sciences (“Lower Royalty”), then Derma Sciences:
(i) will use the Lower Royalty for determining the royalties payable to Comvita for the final Reporting Period of that calendar year; and
(ii) may deduct from such royalties so determined an amount equal to the difference between the royalties actually paid by Derma Sciences to Comvita for the first three Reporting Periods of that calendar year, and the royalties that would have been paid by Derma Sciences for such Reporting Periods had the Lower Royalty applied;
(c) only one royalty will be payable on any Licensed Product that is both a Gel Sheet Product and a Honey Gel Product under clauses 6.1(b) and (c). If a Licensed Product is both a Gel Sheet Product and a Honey Gel Product, the additional royalty to the royalty specified in the table in clause 6.1(a) will be [*]% of the Net Sales Value;
(d) for the avoidance of doubt, the royalties payable for Licensed Products that are Honey Gel Products or Gel Sheet Products under clauses 6.1(b) or (c) are in addition to those payable under clauses 6.1(a) and (d); and
(e) for the avoidance of doubt, Derma Sciences wil...
Royalty Calculations. Royalties shall be payable hereunder only on Products, the manufacture, use, sale or importation of which in or into a specified country is covered by a Valid Claim. Royalties shall be determined on a [********] basis.
