Initial Royalty Rate definition

Initial Royalty Rate shall have the meaning set forth in Section ‎5.2(a).
Initial Royalty Rate. With respect to sales of Product inside the Territory but outside the United States, Allergan shall pay Ista a royalty of [*] of Net Sales of Product, subject to adjustment as set forth in this Section 6.1, less the cost of Product for sale outside the United States purchased by Allergan from Ista pursuant to the Supply Agreement. The credit for cost of Product purchased by Allergan from Ista pursuant to this Section 6.1(a) shall be applied in the calendar quarter in which such purchases were made. To the extent any such credits exceed the royalty due for such quarter, such excess shall be carried forward to successive calendar quarters until fully utilized
Initial Royalty Rate. The Company shall pay Axxxxx a royalty of five percent (5%) on Net Sales of products covered by the Patents, with that royalty rate continuing until a cumulative total of one million dollars ($1,000,000) in royalties has been paid to Axxxxx. Reduced Royalty Rate After $1,000,000:Following royalty payments totaling one million dollars ($1,000,000), the Company shall continue to pay royalties to “Axxxxx” at the reduced rate of two percent (2%) on Net Sales of products covered by the Patents, conditioned upon the grant by the United States Patent and Trademark Office (USPTO) of at least one patent on the Invention. The payment of royalties at this reduced rate shall continue until the total cumulative royalties paid to “Axxxxx” reaches ten million dollars ($10,000,000), after which no further royalty payments will be due.

Examples of Initial Royalty Rate in a sentence

  • In no event shall the cumulative effect of the two reductions set forth in this Subsection 3.3(b) result in a royalty rate of less than *** percent (***%) of the Initial Royalty Rate for any Licensed Product.

  • In the event that, for any Triangle fiscal quarter, the Direct Manufacturing Cost exceeds *** percent (***%) of Net Sales of Licensed Products, the Initial Royalty Rate shall be reduced by *** percent (***%) of the amount by which the Direct Manufacturing Cost exceeds *** percent (***%) but does not exceed *** percent (***%) of Net Sales of Licensed Products.

  • Attitudes are shaped by experience of the product, the opinions of friends, direct dealings with the retail store, and the advertising and other representations of the company.

  • The Corporation shall not, without the prior written consent of the Trustee, amend the Royalty Agreement so as to increase the Initial Royalty Rate (as described therein) or amend Section 2.2 and 7.2(c) thereof.

  • On the later of the expiration of (i) *** after commercial introduction of a Licensed Product in a given country and (ii) the last to expire of any Valid Claim covering such Licensed Product in such country, the Initial Royalty Rate applicable to Net Sales of such Licensed Product in such country shall be reduced by *** percent (***%).


More Definitions of Initial Royalty Rate

Initial Royalty Rate is defined in Section 6.3.1.1.

Related to Initial Royalty Rate

  • Royalty Rate means the percentage defined in Exhibit B.

  • 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 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.

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

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

  • 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.

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

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

  • Milestone Payments means payments made in connection with any Permitted Acquisition or other acquisition (including any license or the acquisition of any license) of any rights in respect of any drug or other pharmaceutical product (and any related property or assets) to sellers (or licensors) of the assets or Equity Interests acquired (or licensed) therein based on the achievement of specified revenue, profit or other performance targets (financial or otherwise).

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

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

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

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

  • License Fees means all non-refundable fees payable by Licensee to OT with respect to the granting of Software Licenses; “License Model” means the description of the conditions, limitations and restrictions associated with the Software License which govern the use of the Software, as set out in the applicable License Model Schedule;

  • 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.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Milestone means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • 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.

  • Net Sales means [***].

  • Sublicensing Revenue means all amounts (including, without limitation, payments received for the purchase of equity in excess of the fair market value of such equity, license fees, milestone and other time or event based payments and royalties on sales of products, but excluding any research funding payments received and actually used for such purpose) received by a Party under an agreement or license attributable to Collaboration Products or from sales of Collaboration Products to end users less any withholding tax or other tax related reductions.

  • 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.

  • Compounded Daily XXXXX means the rate of return of a daily compound interest investment (with the daily Sterling overnight reference rate as reference rate for the calculation of interest) and will be calculated by the Interest Determination Agent as at the Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 being rounded upwards: where:

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Daily Compounded XXXXX means, for any day, XXXXX with interest accruing on a compounded daily basis, with the methodology and conventions for this rate (which will include compounding in arrears with a lookback) being established by the Administrative Agent in accordance with the methodology and conventions for this rate selected or recommended by the Relevant Governmental Body for determining compounded XXXXX for business loans; provided that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may (in consultation with the Borrower) establish another convention in its reasonable discretion; and provided that if the administrator has not provided or published XXXXX and a Benchmark Replacement Date with respect to XXXXX has not occurred, then, in respect of any day for which XXXXX is required, references to XXXXX will be deemed to be references to the last provided or published XXXXX. Any change in Daily Compounded SOFR due to a change in XXXXX shall be effective from and including the effective date of such change in XXXXX without notice to the Borrower.