Common use of Royalty Due Dates Clause in Contracts

Royalty Due Dates. Commencing with the first Date of Launch of the Licensed Product in a first country of the NOVACEA Territory until the end of the Royalty Term in each country, all Patent and Know-How royalty payments accrued as of the end of each Commercial Half Year, as herein provided shall be paid by NOVACEA to XXXXXX XXXXX, within sixty (60) days after the end of each Commercial Half Year (i.e., payment is due on or about the last day of each February and August following the Date of Launch). In the event NOVACEA fails to pay any amount within sixty (60) days after the end of each Commercial Half Year, XXXXXX XXXXX may charge a monthly late payment fee equal to one percent (1.0%).

Royalty Due Dates. Commencing with the first Date of Launch of the Licensed Product in a first country of the NOVACEA Territory until the end of the Territory, Trademark Royalty Term in each country, all Patent and Know-How royalty payments accrued as of the end of each Commercial Half Year, as herein provided provided, shall be paid by NOVACEA to XXXXXX XXXXX, XXXXX within sixty (60) days after the end of each Commercial Half Year (i.e., payment is due on or about the last day of each February and August following the first Date of Launch). In the event NOVACEA fails to pay any amount accrued Trademark Royalty within sixty (60) days after the end of each Commercial Half Year, XXXXXX XXXXX may charge a monthly late payment fee equal to one [*] percent (1.0[*]%).