License Maintenance Fee definition
Examples of License Maintenance Fee in a sentence
The Annual License Maintenance Fee will be credited against royalties in the current fiscal year.
Thereafter, beginning on [####] and each year thereafter, Licensee shall pay Elkurt an annual License Maintenance Fee of [####].
Beginning on [####], and every year thereafter said annual License Maintenance Fee shall be [####].
Beginning on January 1, 2028, and every year thereafter said annual License Maintenance Fee shall be Four thousand dollars ($4,000).
Licensee shall pay an Annual License Maintenance Fee to University in the amount indicated in the Schedule below based on the type of Licensed Product(s) being developed or commercialized by Licensee (or any Affiliate or Sublicensee).
In addition, beginning on January 1, 2022 and each year thereafter, Licensee shall pay Elkurt an annual License Maintenance Fee of three thousand dollars ($3,000).
Licensee shall pay Elkurt an Initial License Maintenance Fee within 15 days of achieving the funding provided in Section 4.1. Said Initial License Maintenance Fee shall be sixty-seven thousand dollars ($67,000) if paid by October 15, 2021, but if not paid by October 15, 2021, then said Initial License Maintenance Fee shall increased by the interest rate set forth in Section 5.3 for each month after October 15, 2021.
Beginning on the anniversary date which is [####] from the Effective Date, and every year thereafter said annual License Maintenance Fee shall be [####].
The License Maintenance Fee is not due on any anniversary of this Agreement if on that date Licensee is commercially selling Licensed Product and paying an earned royalty to UIRF on the sales of that Licensed Product.
Each License Maintenance Fee will be treated as a minimum annual royalty payment and will be credited against Earned Royalties due for the calendar year in which payment of the License Maintenance Fee is made.