Sublicense Payments. Within thirty (30) days of receipt by COMPANY, COMPANY shall pay LICENSOR the percentage as specified in APPENDIX E on any non -royalty based fees or payments paid to COMPANY by any Sublicensee (“Sublicense Percentage”) as consideration for any sublicenses grant under this Agreement, including but not limited to any initial licensing fees, milestone fees, maintenance fees, but specifically excluding (a) royalties on the sale or distribution of Licensed Product, (b) consideration received for purchase of equity in COMPANY up to the fair market value of such equity (the Sublicense Percentage being due solely on “premium equity payments”, as defined below) (c) payments for research and development services regarding Licensed Product and (d) reimbursement of patent prosecution costs regarding the Licensed Patents. For purposes of this Agreement, premium equity payments shall mean the positive difference, if any, between the per share amount paid for equity in COMPANY by a Sublicensee and the per share fair market value of said equity, multiplied by the number of shares purchased by such Sublicense. The per share fair market value of COMPANY’ s equity shall be the per share amount paid by an investor to COMPANY in the most recent round of financing within the twelve (12) month period immediately preceding an equity purchase by a Sublicensee. If no round of financing occurred in the immediately preceding twelve (12) month period, the per share fair market value of COMPANY’s equity shall be agreed upon by the parties. In the event that COMPANY and LICENSOR cannot agree on a per share price within thirty (30) days of COMPANY’ s receipt of such premium equity payments, said price shall be determined by a mutually agreeable qualified appraiser. In the event COMPANY owes LICENSOR a portion of such premium equity payment, COMPANY shall have the option of remitting payment to LICENSOR in the form of equity in COMPANY, with the per share market value of such equity determined as set forth in this Section 3.3. In the event that a portion or all of the premium equity payments are required to be reimbursed to Sublicensee under the terms of the sublicense agreement, then LICENSOR’s pro rata share of such reimbursable premium equity payment shall be credited against any running royalties earned in the particular calendar year to which the reimbursable premium equity payment relate.
Sublicense Payments. In consideration of rights granted by UNIVERSITY to LICENSEE under this Agreement, LICENSEE further agrees to pay UNIVERSITY the following after the execution of a sublicense hereunder:
a. Within thirty (30) days from LICENSEE’s receipt, LICENSEE shall pay to UNIVERSITY an additional royalty of twenty percent (20%) of all revenue received from any SUBLICENSEE. Such revenue shall include, but not be limited to, all option fees, license issue fees (up-front payments), license maintenance fees, equity, and all royalty payments. Such revenue shall not include research funding provided to LICENSEE by SUBLICENSEE.
Sublicense Payments. All Sublicense Revenues shall be reported to TSRI by Licensee in accordance with Section 6.3. Any non-cash item of Sublicense Revenues received by Licensee from a Sublicensee or other third party shall be valued at its fair market value as of the date of receipt, as determined in good faith by Licensee. Licensee shall pay to TSRI a non-creditable, non-refundable percentage of these Sublicense Revenues according to the following schedule (“Sublicense Payments”):
Sublicense Payments. Krele will pay to Lipocine payments equal to [* * * ]%) of any pre-commercialization or commercialization consideration (e.g., upfront license fees, milestone payments, license maintenance fees, royalties, etc.) received by Krele from a sublicensee, including any such pre-commercialization consideration received as a result of NDA (or equivalent) approval or Product launch.
Sublicense Payments. (a) In addition to royalties due pursuant to (P)4.3.A on Net Sales by Sublicensees, PIONEER shall pay to MAXYGEN [*******] of any and all Sublicense Payments collected by PIONEER pursuant to this Agreement from any Agent or Sublicensee.
(b) If PIONEER or its Affiliates wishes to grant a third party a sublicense under the MAXYGEN's interest in the MAXYGEN Intellectual Property or Joint Intellectual Property, or rights under the MAXYGEN's interest in the MAXYGEN Intellectual Property or Joint Intellectual Property with regard to a PIONEER Licensed Product, in exchange for any consideration in a form other than cash or a cash equivalent (e.g., a license under other intellectual property owned or Controlled by PIONEER), then PIONEER shall notify MAXYGEN and the fair market value of the non-cash consideration received by PIONEER and its Affiliates for such rights or product, as the case may be, shall be agreed by PIONEER and MAXYGEN, or if the parties are unable to agree on such fair market value, either party may submit such matter to arbitration pursuant to Section 13 below, in order to determine the fair market value of such consideration.
Sublicense Payments. MAXYGEN shall pay to PIONEER [*******] of any and all Sublicense Payments collected by MAXYGEN pursuant to this Agreement from any Sublicensee for the use of Shuffled Genes or [*******].
Sublicense Payments. All Sublicense Revenues shall be reported and Sublicense Payments (defined below) paid to TSRI by Licensee within [***] days of Licensee’s receipt of such Sublicense Revenues. Licensee’s reports to TSRI regarding Sublicense Revenues shall contain an explanation and calculation of the amount of Sublicense Payments due to TSRI pursuant to the schedule below. Licensee’s obligation to pay Sublicense Payments to TSRI shall continue on a country by country and Product by Product basis for as long as Royalties are due to TSRI pursuant to Section 4.4. Licensee shall pay to TSRI a non-creditable, non-refundable percentage of Sublicense Revenues according to the following schedule (“Sublicense Payments”): [***] years [***] [***] years [***] [***] years [***]
Sublicense Payments. Each Party shall be responsible for any Third Party license fees, milestones, royalties or other payments owed with respect to the Product or uses or methods of Manufacture thereof (or of its components), on intellectual property that is licensed by such Party prior to or as of the Effective Date. For the avoidance of doubt, such sublicense payments shall not be included in any calculation of Development Costs.
Sublicense Payments. Licensee agrees to pay to University percent ( %) of all cash and non-cash considerations derived from Sublicenses granted by Licensee to and in Patent Rights, excluding earned royalties pursuant to paragraph 8.4, loans, equity investments, and research and development support. Licensee agrees to pay to University the earned royalty rate of paragraph 8.4 as applied to Sublicensee’s Net Sales Revenue for Licensed Product. Sublicense payments are due and payable within thirty (30) days of the end of each calendar quarter in which such consideration is received by Licensee.
8.5.1. In the event that sublicensing occurs prior to Milestone Payments, Milestones shall remain payable, however no Sublicense Payment shall be payable pursuant to this Section 8.5 for any portion of payments received from Sublicensees that are in fulfillment of a Licensee milestone paid to University pursuant to Section 8.6 hereof.
8.5.2. In the event that the Patent Rights are sublicensed as a "bundle" with other technologies, the value attributable to the Patent Rights will be a commercially reasonable value as determined by Licensee, providing that (a) proper documentation supporting that valuation is provided by Licensee to University, and
Sublicense Payments. In the event of any sublicense to a Third Party under Section 3.3 above in any country of the MN Territory in which MN is entitled to a lump sum and/or milestone payments and a royalty based on net sales of Licensed Product by the sublicensee under the sublicense agreements, then in lieu of royalty payments on Net Sales as set forth in Exhibit 4.3 in such country, MN shall pay KR (i) [**] of royalty payments received by MN based on net sales of Licensed Product by MN’s sublicensee and (ii) [**] of lump sum and/or milestone payments received by MN from MN’s sublicensee (other than payments made by MN’s sublicensee (x) to reimburse MN for MN’s research and development expenditures, calculated in accordance with GAAP, or (y) as equity investments in MN). The provisions of Article 5 and Article 6 will apply where appropriate with respect to the amounts payable under this Section 4.8.
