Common use of Sublicense Income Clause in Contracts

Sublicense Income. Company shall pay University the following percentages of all Sublicense Income: (a) {***} for Sublicense Agreements that are executed by Company from January 1, 2007 through December 31, 2007; (b) {***} for Sublicense Agreements that are executed by Company from January 1, 2008 through December 31, 2008; and (c) {***} for Sublicense Agreements that are executed by Company from and after January 1, 2009. Sublicense Income is due within sixty (60) days after Company receives the relevant payment from the Sublicensee. If Sublicense Income is payable by Company for any one Sublicense Agreement under more than one of the Companion UMass License Agreements and the license agreements assigned to Company pursuant to Section 2.4 (“Assigned License Agreements”), Company shall pay the highest rate of Sublicense Income among the Companion UMass License Agreements and the Assigned License Agreements. That one payment satisfies the payment requirements for the applicable Sublicense Agreement under each of the Companion UMass License Agreements and Assigned License Agreements.