Initial Royalty Period definition

Initial Royalty Period has the meaning set forth in Section 5.1(a).
Sample 1Sample 2
Initial Royalty Period means the period commencing upon the First Commercial Sale and ending at the [*] to occur of: (a) the expiration of the last-to-expire Patent in the Territory within the Corixa Intellectual Property Rights that claims the Product or its manufacture, formulation or use, and (b) the end of the calendar year in which the [*] anniversary of the First Commercial Sale occurs.
Sample 1
Initial Royalty Period shall have the meaning defined in Section 5.12(a)(i) of the Agreement.
Sample 1

Examples of Initial Royalty Period in a sentence

  • During the Initial Royalty Period, Royalties due hereunder shall be paid quarterly within forty-five (45) days of the end of each calendar quarter.

  • Then, if there is a First Commercial Sale of a Product in Germany, the Initial Royalty Period will end [***] months after such First Commercial Sale in Germany, and thereafter Purchaser will pay royalties at the applicable Post-Initial Period Royalty Rate on Net Sales for any and all Products in Germany in addition to the United States.

  • After the Initial Royalty Period, during the remainder of the Royalty Term Purchaser shall pay Seller a royalty on annual Net Sales of Products within forty-five (45) days of the end of each calendar year as follows: For example, after the Initial Royalty Period if Purchaser achieves annual Net Sales of Products of $300 million, Purchaser shall pay Seller a royalty as follows: 10% x $250 million = $25 million; 15% x $50 million= $7.5 million; for a total of $32.5 million.

  • For each Collaboration Product, SPRI shall pay XOMA a royalty of [*] of Net Sales of such Collaboration Product during the Initial Royalty Period.

  • Subject to the terms and conditions hereof, until the expiration of the Initial Royalty Period, Freedom shall pay to Moller, on or prior to 45 days after the end of each calendar quarter, a royalty payment in an amount equal to 5% of the Net Revenues received during such calendar quarter for Products sold or leased by Freedom or its Affiliates to parties other than Freedom, Moller or any of their Affiliates.

  • During the Initial Royalty Period, Evolus will be obligated to pay the Initial Royalty to Medytox.

  • Following the Initial Royalty Period, Purchaser shall pay to the Royalty Recipients the following royalties on the Annual Net Sales of Products, equal to the following percentages of such Net Sales (the “Post-Initial Period Royalty Rates”): Annual Net Sales of Products For purposes of this Agreement, “Annual Net Sales of Products” means [***].

  • Commencing upon the expiration of the Initial Royalty Period, and lasting for [*].

  • After the Initial Royalty Period with respect to a particular Collaboration Product has ended, and for a period of time of up to [*] thereafter, a [*] royalty of [*] will apply in each country where the royalty referred to in the immediately preceding sentence has been paid, provided that (a) the full period during which a royalty shall be payable in such country shall not exceed [*], and (b) [*].

  • For five years following expiration of the Initial Royalty Period, Freedom shall continue to make such royalty payments in connection with such grant of sublicenses but the royalty payments shall be reduced to equal 10% of the Net Sublicense Fees received.


More Definitions of Initial Royalty Period

Initial Royalty Period means the period during which the making, use or sale of Products is covered by one or more claims under an unexpired U.S. patent deemed to be Moller Intellectual Property for purposes of this Agreement, which claims have not been held invalid or unenforceable by a court having competent jurisdiction for which any time for appeal has expired.
Sample 1
Initial Royalty Period means, for each Collaboration Product the period commencing with the First Commercial Sale thereof and continuing on a country-by-country basis until [*].
Sample 1
Initial Royalty Period means the period starting on December 16, 2020 and ending on September 16, 2022.
Sample 1
Initial Royalty Period means the period beginning on [*].
Sample 1

Related to Initial Royalty Period

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Royalty Term means, on a country-by-country basis, the period commencing on the First Commercial Sale of a Licensed Product in a country and ending on the latest of (a) ** thereafter, (b) expiration of the last-to-expire Valid Claim of a Licensed Patent that Covers the composition of matter of the Licensed Product in the country in which it is sold, or (c) the expiration of all Regulatory Exclusivity Rights with respect to such Licensed Product in the country in which it is sold.

  • Minimum Royalty has the meaning set forth in Section 4.4(c).

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Penalty Period has the meaning set forth in Section 6.3.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • Exclusivity Period shall have the meaning set forth in Section 6.11.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

  • License Period means the period beginning from the Commencement Date and ending on the Termination Date.

  • Sales Milestone Payment shall have the meaning set forth in Section 8.4.

  • Commercial Sale means the sale of Product (as indicated by shipment of Product) to an unaffiliated third-party of the Licensee, or of its sublicensee or distribution partner, such as a wholesaler, managed care organization, hospital or pharmacy and shall exclude (i) any transfer of Product by Licensee to its sublicensee, distribution partner or Affiliate and (ii) any distribution of Product for use in research, development, pre-clinical and clinical trials.

  • License Term means the duration of a License as specified in the Order.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Royalty Fee “Royalty Fee” means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Research Period means the research period as described in the Commissioned Research Plan. In accordance with the provisions of this Agreement, in the event that the Agreement ended prior to the completion date of the research originally set, the date the Agreement ends shall be read as the research period.

  • License Fee means the amount payable by the licensee to DMRC as per rates offered by the Selected Bidder for utilization of licensed space and accepted by DMRC to be paid by the Licensee along with other charges and any kind of Central or State Taxes, local levies, statutory dues, etc. that may be payable by the licensee as per prevalent law.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Minimum Term means the minimum initial period of service for each Service as shown on the Service Agreement and Order Schedule, such period to start on the date on which the relevant Service is first made available to you for use. For the avoidance of doubt, unless otherwise agreed the minimum term will be 12 months from your contract commencement date or other such date as may be notified to you in accordance with paragraph 19.2.

  • Milestone Payment has the meaning set forth in Section 4.2.

  • License year means the period of time for which a

  • Supply Period means the period commencing on the Supply Period Start Date and terminating on the Termination Date.