Minimum Annual Royalties definition

Minimum Annual Royalties. The minimum annual royalties pursuant to Paragraph 3.2 are: 1st year: ten thousand dollars ($10,000). 2nd year: ten thousand dollars ($10,000). 3rd year: twenty five thousand dollars ($25,000). 4th year: twenty five thousand dollars ($25,000). 5th year, etc.: fifty thousand dollars (50,000).

Minimum Annual Royalties has the meaning set forth in Section 5.2.

Minimum Annual Royalties means the minimum amount of Royalties per annum as set forth in Section 3.5.

Examples of Minimum Annual Royalties in a sentence

• A credit against litigation expenses, however, may not reduce the royalties due in any one year to less than the Minimum Annual Royalties set forth in Paragraph 8.3. Any recovery made by Licensee, through court judgment or settlement, first must be applied to reimburse University for royalties withheld as a credit against litigation expenses and then to reimburse Licensee for its litigation expense.

• Signature page follows] elopme EXHIBIT A EXHIBIT B EXHIBIT C EXHIBIT D Upfront License Fee Minimum Annual Royalties on 3rd anniversary of the license agreement, increasing by every year until a sum of (offset by Royalties received from Net Sales) Royalties Royalties from Net Sales of Products sold by the Company and its Affiliates Sublicense receipts - Ramot’s share in revenues from a Sublicensee, other than revenue received on account of sales of Products by the Sublicensee.

• Beginning on the second anniversary of the EFFECTIVE DATE (“Year 2,” and each subsequent year, “Year 3,” “Year 4,” “Year 5,” etc.), Minimum Annual Royalties are due for each such calendar year on each following January 31.

• The purpose of the allocated funds is to improve the training and professional development of HCPs in order to meet the specific requirements prioritized by the Committee.

• Minimum Annual Royalties paid in excess of running royalties shall be creditable to amounts due for future years.

More Definitions of Minimum Annual Royalties

Minimum Annual Royalties. The minimum annual royalties pursuant to Paragraph 3.2 are: 1st year: [***] 2nd year: [***] 3rd year: [***] 4th year: [***] 5th year, etc.: [***]

Minimum Annual Royalties means the minimum annual royalties set forth on Exhibit C attached hereto (based on the applicable Contract Year), payable in accordance with Section 3.3.

Minimum Annual Royalties. The minimum annual royalties pursuant to Paragraph 3.3 of the License Agreement are [**] and shall be credited against running royalties due in that year. If royalties paid to JHU pursuant to Paragraph 3.4 of the License Agreement do not equal or exceed [**] in any applicable calendar year, Company shall pay the difference to JHU within the 45 day time period after the end of such year. In the event Company fails to pay JHU the minimum annual royalty as required for a year, the license granted hereunder shall become a nonexclusive license so long as Company pays JHU a minimum annual royalty of [**] in that calendar year and thereafter.

Minimum Annual Royalties means the minimum amount of Royalties per annum as set forth in Section 3.5. 1.12 “Net Sales Price” shall mean the [***] of Licensed Activities by Licensee and/or its Affiliates and/or Sublicensees less the following items: a) charges for taxes, including without limitation VAT; and b) discounts and deductions customary in the trade and compliant with U.S. generally accepted accounting principles, consistently applied. 1.13 “Non-Licensed Activity” shall mean any activity that is not covered by at least one issued claim of the Patents in the applicable country of manufacturing, marketing, use, sale, or offer for sale. For purposes of clarity, any activity includes to develop, make, have made, import, have imported, use, sell, have sold, offer for sale products, practice any method, process or procedure and otherwise exploit the Patents in the Field of Use. 1.14 “Patents” shall mean: (i) the [***] patents and patent applications as listed in Annex A; (ii) continuations, continuations-in-parts, divisionals, reissues, reexaminations, and foreign counterparts of the patents set forth in Annex A; and (iii) any U.S. or foreign patents or patent applications claiming priority from any of the patents or patent applications set forth in (i) or (ii) or from which any of the patents or patent applications set forth in (i) or (ii) claim priority. 1.15 “Patent Challenge” shall mean any judicial or administrative proceeding in which a Patent’s validity or enforceability is challenged. 1.16 “Preferred Stock” means non-participating series D preferred stock in the Licensee, where the value of each share is $7.4767. 1.17 “Signing Fee” shall mean the non-creditable, non-refundable, one-time access fee payable on the Effective Date of this Agreement by Licensee to KeyGene. 1.18 “Sublicensees” shall mean any entity who enters into an agreement with Licensee or its Affiliates pursuant to Article 5 of this Agreement. 2 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 1.19 “Sublicense Revenues” shall mean the total amount of [***] received by Licensee and/or its Affiliates, [***], from Sublicensees in consideration for a grant by Licensee of a sublicense under the Patents pursuant to Article 5 of this Agreement, other than (i) [***], and (ii) payments in the form of [***] to the extent [***]. 1.20 “Territory” shall mean [***]...

Minimum Annual Royalties. The minimum annual royalty pursuant to Paragraph 3.2 is [***]. If Company, an AFFILATED COMPANY or SUBLICENSEE has [***]. Running royalties paid to JHU during the one year period preceding an anniversary shall be credited against the minimum annual royalties due on that anniversary date.

Minimum Annual Royalties means the minimum performance requirements set forth in Article IV, which Rofin acknowledges are reasonable.

Minimum Annual Royalties has the meaning set forth in Section 5.