Royalty Rate and Royalty Basis Sample Clauses

Royalty Rate and Royalty Basis. The Proponent will pay to the Minister a royalty of [insert percent] % of annual Gross Business Revenues during the Royalty Period.
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Royalty Rate and Royalty Basis. The royalties shall be based on gross corporate business revenues (“the Gross Business Revenues”) reported in the Proponent’s audited financial statements. No royalties derived from R&D Collaborative Revenues or Milestone Payments shall be payable. R&D Collaborative Revenues or Milestone Payments consist of nonrefundable R&D funding under collaborative agreements with the Proponent’s strategic partners. This funding generally compensates the Proponent for nonclinical and clinical expenses related to the collaborative development program for certain product candidates of the Proponent’s R&D program and is recognized form time to time, as revenue when R&D activities are performed. Such revenues are not derived from commercialization of resulting products or their derivatives (either by the Proponent or other parties) and they shall not be subject to royalties under this Agreement. In the event that the Proponent is not declared to be in default under this agreement and if the Proponent fails, through no fault of his own, to attain the tasks set forth in the Statement of Work (Schedule 2) that are described but are not limited to those set forth below, and the Project fails, as solely assessed by the Minister, no royalties shall be payable. Determination of failure or success: Factors that will be used to determine failure or success of the project would include (but are not limited to) the Proponent’s drug candidate MX-2401 passing through all phases of clinical trials, receiving regulatory approval from Health Canada and the US FDA, and its manufacturing proving to be commercially feasible. The Minister will establish the factors as appropriate, upon due consideration of all relevant information and the Minister will use these factors in the determination of failure or success. The royalty rate shall be 1.75 per cent of the Gross Business Revenue. Once the Cumulative Royalties of $20.264 million have accrued, the royalty rate shall be 1.2 per cent of the Gross Business Revenues
Sample 1

Related to Royalty Rate and Royalty Basis

  • Royalty Rate Licensee shall pay to Licensor three percent (3%) of the first $25 million of Revenues received by Licensee or its Affiliates, and two percent (2%) of all additional Revenues received by Licensee or its Affiliates, subject to reductions pursuant to Sections 4.2.2 and 4.2.3.

  • Royalty Rates On a Licensed Product-by-Licensed Product and country-by-country basis, during the Royalty Term, Imugene shall pay to Precision a royalty equal to the percentages of aggregate annual global Net Sales of such Licensed Product, as set forth below (the “Royalty”), calculated by multiplying the applicable royalty rate percentage by the corresponding portion of aggregate global Net Sales for such Licensed Product in such Calendar Year. For purposes of determining whether the Net Sales thresholds in the table below have been achieved for a Licensed Product, all Net Sales of such Licensed Product shall be aggregated globally for all sales made by Imugene or any of its Affiliates or its or their Sublicensees of such Licensed Product, in any and all preparations, formulations, dosages, packaging or methods of administration thereof. Annual Net Sales of the Applicable Licensed Product Royalty Rate Aggregate annual global Net Sales of an Existing Product less than [***] [***] Aggregate annual global Net Sales of an Existing Product equal to or greater than [***] but less than [***] [***] Aggregate annual global Net Sales of an Existing Product equal to or greater than [***] [***] Aggregate annual global Net Sales of an Additional Product less than [***] [***] Aggregate annual global Net Sales of an Additional Product equal to or greater than [***] but less than [***] [***] Aggregate annual global Net Sales of an Additional Product equal to or greater than [***] [***]

  • Running Royalties Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. No multiple royalties shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A.

  • Know-How Royalty Notwithstanding the provisions of Section 5.4.1(a), in countries where the sale of Product by Merck or its Related Parties would not infringe a Valid Patent Claim, Merck shall pay royalty rates that shall be set at [***] of the applicable royalty rate determined according to Section 5.4.1(a). Such royalties shall be calculated after first calculating royalties under Section 5.4.1(a).

  • Earned Royalties Subject to of Article 7 hereof, Licensee shall pay to Licensor for the rights granted hereunder a sum equal to one and [*****] of the Net Invoice Value of Trademarked Products Sold by Licensee (the "Royalties"). The Royalties shall be remitted in accordance with Section 7.4 of this Agreement. 6.2

  • Earned Royalty In addition to the annual license maintenance fee, ***** will pay Stanford earned royalties (Y%) on Net Sales as follows:

  • Royalty Payments (i) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.

  • Royalty Payment For all leased substances that are sold during a particular month, Lessee shall pay royalties to Lessor on or before the end of the next succeeding month. Royalty payments shall be accompanied by a verified statement, in a form approved by Lessor, stating the amount of leased substances sold, the gross proceeds accruing to Lessee, and any other information reasonably required by Lessor to verify production and disposition of the leased substances or leased substances products. Delinquent royalties may be subject to late fees and penalties in accordance with Lessor’s Rules.

  • Royalty Fee The Licensee agrees to pay AmericaTowne a monthly fee equal to 7.5% of its Gross Retail Sales (the "Royalty Fee").

  • Net Sales The term “

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