Annual Minimum Royalty definition

Annual Minimum Royalty means the applicable amount set forth in Section 0.
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Annual Minimum Royalty shall have the meaning set forth in Section 4.3;
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Annual Minimum Royalty shall be determined by the following table.
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Examples of Annual Minimum Royalty in a sentence

  • The Annual Minimum Royalty shall be credited against the Royalties payable in a Year.

  • If this Agreement is terminated after the end of the Annual Minimum Royalty Term by either Party, (i) Inverness shall have a non-exclusive license under the Licensed Know-How to make, have made, use and sell Products in the Territory for use in the Field; (ii) all royalties due under Section 4.2 shall continue to be due and payable with respect to each Test Sold from and after the date of such termination, and (iii) the annual minimum royalties under Section 4.3 shall no longer be paid.

  • Should Inverness default in its payment of the Annual Minimum Royalty and fail to cure such default, then BioCurex may terminate this Agreement for cause in accordance with Section 0.

  • Royalties paid to third parties as provided for above shall constitute a deduction from GROSS RECEIPTS for determining Earned Royalties hereunder and shall be included when determining whether the Annual Minimum Royalty provided for in this Agreement has been paid in a given year.

  • The Annual Minimum Royalty will be credited against the total Royalties due and owed for the calendar year in which the Annual Minimum royalty was paid.

  • To exercise its Option pursuant to Section 2.4 above, CI shall pay MPI a license fee for each individual MPI Technology Package added hereunder that approximates [*] for the first year (subject to the credit applied under Section 3.7 above), after which time the Annual Minimum Royalty of Section 3.2 would apply.

  • The Annual Minimum Royalty shall be credited against the Royalties due in the forthcoming 12 months.

  • During the Royalty Term, Transave shall pay to PARI an Annual Minimum Royalty in US dollars in accordance with Section 9.3 below; provided, however, that, in the event Transave has permanently discontinued to Exploit the Drug Product for CF in accordance with Section 7.1(a), then the Annual Minimum Royalty shall no longer be applicable for the Drug Product for CF but the obligation to pay Annual Minimum Royalties for the Drug Product for Bronchiectasis shall remain in effect.

  • Should Inverness terminate this Agreement without cause after the First Commercial Sale and before the end of the Annual Minimum Royalty Term, then Inverness shall pay BioCurex upon such termination a termination fee equivalent to the higher value of (a) the royalties generated during the 12 months prior to the termination or (b) the sum of * (the "Termination Fee").

  • CI may terminate its obligations to pay to MPI any Annual Minimum Royalty payments and royalties under any particular MPI Technology Package by notifying MPI in writing of such intent before the next Annual Minimum Royalty payment is due pursuant to Section 3.2, and concurrently terminating all activities described under Sections 2.1, 2.2 and 2.3 above, with respect to such MPI Technology Package.


More Definitions of Annual Minimum Royalty

Annual Minimum Royalty means the minimum dollar remuneration to be paid by THEROX to WSU in a given year that this Agreement is in force, not based upon NET SALES.
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Annual Minimum Royalty. The calendar year minimum royalty payable by FRANCHISEE to FRANCHISOR, which is the sum of $10,000 beginning in the 3rd full calendar year after the effective date of this Agreement. Buyer A Buyer or proposed Buyer of all or any part or interest in FRANCHISEE’S Business, FRANCHISEE’S rights under this Agreement, or the FRANCHISEE Transferee Entity The area described in subsection 2.3 in which FRANCHISEE may locate FRANCHISEE’S Office. FRANCHISEE’S Business The business operated by FRANCHISEE pursuant to this Agreement. FRANCHISEE’S Obligations The obligations set forth in this Agreement and any other agreement between FRANCHISEE and FRANCHISOR and in the Manual as it may be changed from time to time by the FRANCHISOR. Franchise Agreement
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Annual Minimum Royalty. [ * ] until first commercial sales of Licensed Product(s) and/or Licensed Process(es) occurs, payable quarterly in accordance with section 6.01; [ * ] of Licensed Product(s) and/or Licensed Process(es), payable quarterly in accordance with section 6.01. The Annual Minimum Royalty will be credited against any Earned Royalties that are payable for each reporting period.
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