Common use of Royalty Fees Clause in Contracts

Royalty Fees. 3.1 For the rights, privileges and license granted hereunder, LICENSEE shall pay royalty fees to AUBURN in the manner hereinafter provided to the end of the term of the PATENT RIGHTS or until this Agreement shall be terminated: LICENSEE shall pay License Fees due on the first day of the First LICENSE YEAR and every LICENSE YEAR thereafter equal to $10,000 for the first active patent selected in Appendix A, plus $5,000 for each additional active patent selected in Appendix A, as represented by the formula: License Fee = $10,000 + (NP – 1) x $5,000 provided that the value of NP for a given LICENSE YEAR will be determined on the first day of said LICENSE YEAR. Further, if a patent under the PATENT RIGHTS expires in a given LICENSE YEAR, then the License Fee due for the given LICENSE YEAR for the given patent may be prorated based on the number of days remaining before said patent expiration. 3.2 All payments due hereunder shall be paid in full, without deduction of wire transfer fees, taxes or other fees which may be imposed by any government and which shall be paid by LICENSEE. 3.3 All payments due hereunder shall be paid in United States dollars and sent to AUBURN according to Article 12. If such payments are not received by AUBURN when due, LICENSEE shall pay to AUBURN interest charges at a rate of ten percent (10%) per year. Such interest shall be calculated from the date payment was due until actually received by AUBURN.

Royalty Fees. 3.1 For the rights, privileges and license granted hereunder, LICENSEE shall pay royalty fees to AUBURN in the manner hereinafter provided to the end of the term of the PATENT RIGHTS or until this Agreement shall be terminated: LICENSEE shall pay License Fees due on the first day of the First LICENSE YEAR and every LICENSE YEAR thereafter equal to $10,000 8,000 for the first active patent selected in Appendix A, plus $5,000 4,000 for each additional active patent selected in Appendix A, as represented by the formula: License Fee = $10,000 8,000 + (NP – 1) x $5,000 4,000 provided that the value of NP for a given LICENSE YEAR will be determined on the first day of said LICENSE YEAR. Further, if a patent under the PATENT RIGHTS expires in a given LICENSE YEAR, then the License Fee due for the given LICENSE YEAR for the given patent may be prorated based on the number of days remaining before said patent expiration. 3.2 All payments due hereunder shall be paid in full, without deduction of wire transfer fees, taxes or other fees which may be imposed by any government and which shall be paid by LICENSEE. 3.3 All payments due hereunder shall be paid in United States dollars and sent to AUBURN according to Article 12. If such payments are not received by AUBURN when due, LICENSEE shall pay to AUBURN interest charges at a rate of ten percent (10%) per year. Such interest shall be calculated from the date payment was due until actually received by AUBURN.

Royalty Fees. 3.1 For the rights, privileges and license granted hereunder, LICENSEE shall pay royalty fees to AUBURN in the manner hereinafter provided to the end of the term of the PATENT RIGHTS or until this Agreement shall be terminated: LICENSEE shall pay License Fees of $5,000 due on the first day of the First LICENSE YEAR and every LICENSE YEAR thereafter equal to $10,000 for the first active patent selected in Appendix A, plus $5,000 for each additional active patent selected in Appendix A, as represented by the formula: License Fee = $10,000 + (NP – 1) x $5,000 provided that the value of NP for a given LICENSE YEAR will be determined on the first day of said every LICENSE YEARYEAR thereafter. Further, if a the patent under the PATENT RIGHTS expires in a given LICENSE YEAR, then the License Fee due for the given LICENSE YEAR for the given patent may be prorated based on the number of days remaining before said patent expiration. 3.2 All payments due hereunder shall be paid in full, without deduction of wire transfer fees, taxes or other fees which may be imposed by any government and which shall be paid by LICENSEE. 3.3 All payments due hereunder shall be paid in United States dollars and sent to AUBURN according to Article 12. If such payments are not received by AUBURN when due, LICENSEE shall pay to AUBURN interest charges at a rate of ten percent (10%) per year. Such interest shall be calculated from the date payment was due until actually received by AUBURN.

Royalty Fees. 3.1 For the rights, privileges and license granted hereunder, LICENSEE shall pay royalty fees to AUBURN in the manner hereinafter provided to the end of the term of the PATENT RIGHTS or until this Agreement shall be terminated: LICENSEE shall pay License Fees due on the first day of the First LICENSE YEAR and every LICENSE YEAR thereafter equal to $10,000 7,500 for the first active patent selected in Appendix A, plus $5,000 for each additional active patent selected in Appendix A, as represented by the formula: License Fee = $10,000 7,500 + (NP – 1) x $5,000 provided that the value of NP for a given LICENSE YEAR will be determined on the first day of said LICENSE YEAR. Further, if a patent under the PATENT RIGHTS expires in a given LICENSE YEAR, then the License Fee due for the given LICENSE YEAR for the given patent may be prorated based on the number of days remaining before said patent expiration. 3.2 All payments due hereunder shall be paid in full, without deduction of wire transfer fees, taxes or other fees which may be imposed by any government and which shall be paid by LICENSEE. 3.3 All payments due hereunder shall be paid in United States dollars and sent to AUBURN according to Article 12. If such payments are not received by AUBURN when due, LICENSEE shall pay to AUBURN interest charges at a rate of ten percent (10%) per year. Such interest shall be calculated from the date payment was due until actually received by AUBURN.