Running Royalties. As additional consideration for the license and other rights granted under this Agreement, during the Royalty Term, Licensee shall pay to Mount Sinai the annual percentage of Net Sales on a Licensed Product-by-Licensed Product basis as follows: Worldwide Net Sales for the Applicable Calendar Year in the Territory Running Royalty Percentage For Net Sales of a Licensed Product [***]% For the avoidance of doubt, the running royalty in Section 4.1 above is payable on an annual worldwide Net Sales basis, cumulative for each Calendar Year, within thirty (30) days of December 31st of each Calendar Year. If a Licensed Product is sold, combined or bundled as a single product with one or more other products licensed to Licensee by Mount Sinai (in this Agreement or any other agreement) and invoiced as one product, then the running royalty payable across all such licenses shall be the highest applicable royalty percentage and not the aggregate of each license running royalty added together.
Appears in 7 contracts
Samples: Exclusive License Agreement (Heart Test Laboratories, Inc.), Non Exclusive License Agreement (Heart Test Laboratories, Inc.), Exclusive License Agreement (Heart Test Laboratories, Inc.)
