Royalty Payments Due Sample Clauses
The 'Royalty Payments Due' clause defines the obligation of one party to pay royalties to another, typically based on sales or usage of licensed intellectual property. It specifies the timing, calculation method, and frequency of royalty payments, such as monthly or quarterly remittances based on net sales figures. This clause ensures that the licensor receives appropriate compensation for the use of their intellectual property and provides clear expectations for payment, thereby reducing the risk of disputes over financial obligations.
POPULAR SAMPLE Copied 3 times
Royalty Payments Due. All royalties due Argent hereunder shall be paid quarterly, and shall be due no later than forty-five (45) days following the close of each such quarter. Any payment not received on the date due shall accrue interest at a rate of one and one-half percent (1.5%) per month, or the maximum rate allowed by law, whichever is less. In the event that the actual royalty payments made by TEAMM are less than the minimum royalty due for any Product in any given twelve-month period for which such minimum payment is due, TEAMM shall pay the difference between the minimum royalty payment and actual royalty payment made no later than forty-five (45) days following the close of the last quarter of the twelve-month period for which such minimum payment was due.
Royalty Payments Due. Licensee and its Sublicensees shall pay to ▇▇▇▇▇ royalty payments on the Net Sales of the Licensed Product in the amounts set forth below (“Royalty Payments”):
(i) With respect to Net Sales of the Licensed Product during the period in which the Licensed Product is covered by a Valid Claim, Licensee shall pay ▇▇▇▇▇ a royalty of three percent (3.0%) of such Net Sales. Royalty Payments shall be due for sale of the Licensed Product under this Section 3.3(a) if there is a Valid Claim in either the country in which the Licensed Product is sold or in the country in which the Licensed Product is Manufactured. In any event, only one (1) Royalty Payment shall be due under this Section 3.3(a) for the Licensed Product sold even if more than one Valid Claim covers the Licensed Product. Royalty Payments shall not be subject to any offsets or credits for royalties or payments made to Third Parties by Licensee for Third Parties’ technologies which are utilized or incorporated into or otherwise required to be paid regarding the Licensed Product. ▇▇▇▇▇ shall be solely responsible for any payments owed to UIRF and ▇▇▇▇ due to the rights granted to Licensee pursuant to Section 2.1.
Royalty Payments Due. Licensee shall pay to ▇▇▇▇▇ royalty payments on annual Net Sales of each Licensed Product by Licensee and Sublicensees in the amounts set forth below (“Royalty Payments”):
(i) With respect to Net Sales of the Licensed Product made in a particular country during the period in which the Licensed Product is covered by a Valid Patent Claim in such country, the Licensee shall pay ▇▇▇▇▇ a royalty of [*********************] percent ([***]%) of such Net Sales.
(ii) With respect to Net Sales of the Licensed Product made in a particular country during the period in which the Licensed Product is covered by a Valid Claim but is not covered by a Valid Patent Claim in such country, the Licensee shall pay ▇▇▇▇▇
(1) a royalty of {****************] percent ([***]%) of such Net Sales made prior to the fifth anniversary of the Effective Date and
(2) (A) a royalty of [*******************] percent ([***]%) of such Net Sales made on or after the fifth anniversary of the Effective Date plus, (B) in the event (but only in the event) the Licensed Product should come to be covered by a Valid Patent Claim in the country on or after the fifth anniversary of the Effective Date but prior to the tenth anniversary of the Effective Date, an additional royalty equal to the difference between (x) the royalty that would have been payable under Section 3.4(a)(i) with respect to Net Sales of the Licensed Product in the country if such Licensed Product had been covered by a Valid Patent Claim in the country beginning on the fifth anniversary of the Effective Date and continuing until the date the Licensed Product came actually to be covered by a Valid Patent Claim in the country and (y) the royalty actually paid with respect to Net Sales of the Licensed Product in the country during the period beginning on the fifth anniversary of the Effective Date and continuing until the date the Licensed Product came actually to be covered by a Valid Patent Claim in the country. Amounts payable pursuant to clause (2)(B) of this Section 3.4(a)(ii) shall be paid by Licensee to ▇▇▇▇▇ within sixty (60) days following the end of the Royalty Quarter during which ▇▇▇▇▇ gives notice to Licensee that the Licensed Product has come to be covered by a Valid Patent Claim in the country.
(iii) With respect to Net Sales of the Licensed Product made in a particular country during the period in which the Licensed Product is not covered by a Valid Claim in such country, the Licensee shall pay ▇▇▇▇▇ a royalty of [************...
Royalty Payments Due. Royalty payments by FLEX shall be
Royalty Payments Due. All royalties due Acheron hereunder shall be paid quarterly, and shall be due no later than forty-five (45) days following the close of each such quarter.
Royalty Payments Due. All royalties due ▇▇▇▇ Pharmaceuticals hereunder shall be paid quarterly, and shall be due no later than forty-five (45) days following the close of each such quarter.