ROYALTY RIGHT Sample Clauses
A Royalty Right clause establishes the entitlement of a party, typically an inventor, author, or licensor, to receive ongoing payments based on the use, sale, or licensing of intellectual property such as patents, copyrights, or trademarks. This clause details how royalties are calculated—often as a percentage of revenue or a fixed amount per unit sold—and specifies the frequency and method of payment. Its core practical function is to ensure that the rights holder is fairly compensated for the continued exploitation of their intellectual property, thereby incentivizing innovation and clarifying financial obligations between parties.
ROYALTY RIGHT. Sale of Royalty Right 1 Section 2.2 Payment Procedures 1 Section 2.3 Notice of First Sale Date 3 Section 2.4 Information Rights 3 Section 2.5 Audit Rights 4 Section 2.6 Transferability of Royalty Right 4 Section 2.7 Allocation of Purchase Price 5 Section 2.8 No Partnership or Joint Venture 5
ROYALTY RIGHT. Section 2.1 Sale of Royalty Right 1 Section 2.2 Payment Procedures 1 Section 2.3 Notice of {FOR USE ONLY IN SECOND CLOSING DATE AGREEMENT:First Sale Date}{FOR USE ONLY IN FIRST CLOSING DATE AGREEMENT:ARYMO ER™ Approval} 2 Section 2.4 Information Rights 2 Section 2.5 Audit Rights 2 Section 2.6 Transferability of Royalty Right 3 Section 2.7 Allocation of Purchase Price 3 Section 2.8 No Partnership or Joint Venture 3 Section 3.1 Mergers 4 Section 4.1 Confidentiality 4 Section 5.1 Survival of Certain Provisions 5 Section 6.1 Notices 5
Section 7.1 Successors and Assigns 6
ROYALTY RIGHT. Buyer hereby covenants and agrees to waive all rights and entitlement to the 2.0% NSR on the Property previously granted by Seller to Buyer under the Second Tower Purchase Agreement and in connection with the Talbot Option Agreement.
ROYALTY RIGHT