Examples of Minimum Annual Royalty Payment in a sentence
This ANNUAL MAINTENANCE FEE shall be due on each anniversary of the EFFECTIVE DATE during the term of this AGREEMENT and shall be fully creditable towards any Minimum Annual Royalty Payment owed as specified in Section 3.01(d).
The Minimum Annual Royalty shall be fully creditable against Licensed Product Royalties due for any 12 month period beginning upon the date required for such Minimum Annual Royalty Payment.
Lessee shall pay (i) to Ramaco, in advance, an advance minimum annual royalty in the amount of One Hundred Thousand and 00/ 100 Dollars ($100,000.00) per year (the “Initial Minimum Annual Royalty Payment”), with the first Initial Minimum Annual Royalty Payment being due on or before the earlier of (a) May 20, 2016, or (b) the twentieth (20th) day of the calendar month following the month in which Lessee receives the proceeds from third-party equity offerings of the stock of Ramaco Resources, Inc.
Lessee shall pay (i) to Ramaco, in advance, an advance minimum annual royalty in the amount of One Hundred Thousand and 00/100 Dollars ($100,000.00) per year (the “Initial Minimum Annual Royalty Payment”), with the first Initial Minimum Annual Royalty Payment being due on or before the earlier of (a) July 20, 2016, or (b) the twentieth (20th) day of the calendar month following the month in which Lessee receives the proceed s from third-party equity offerings of the stock of Ramaco Resources, Inc.
If Lupa Bio elects not to pay the Minimum Annual Royalty Payment for such Licensed Product, the licenses granted under 4.1 by Glycosyn to Lupa Bio for such Licensed Product will immediately become non-exclusive.
In no event shall the Minimum Annual Royalty Payment in any year exceed the Cap, regardless of the value of the Per-Patent Minimum Royalties or the number of NSC Patents or whether the surcharge of Section 4.7(c) applies.
If SLC elects under Section 2.4 above not to include a patent as an NSC Patent, then such patent shall not be counted as an NSC Patent for purposes of determining the Minimum Annual Royalty Payment due for the calendar year in which SLC has elected not include such patent pursuant to Section 2.4 above.
The license for the Territory --------------------------------------- granted by Licensor to Licensee under this Agreement shall be exclusive unless and until the Minimum Annual Royalty Payment (defined below) is not paid or not paid within the time set forth in this Agreement.
The Minimum Annual Royalty Payment shall include an additional per-patent surcharge (subject to the Cap) equal to the applicable Per-Patent Minimum Royalty for each NSC Patent that, as of the date the Minimum Annual Royalty Payment is due, has both: (i) been issued in the United States for more than eighteen (18) months, and (ii) not been the subject of a Royalty Bearing Offering by SLC occurring during the then-current calendar year.
During each year of the Term of this Agreement, Licensee agrees to pay a minimum annual royalty (the "Minimum Annual Royalty Payment") to Licensor as set forth below: PERIOD MINIMUM ANNUAL ROYALTY PAYMENT TO ------- MAINTAIN EXCLUSIVE LICENSE ---------------------------------- (a) Prior to December 31, Earned royalty payment only.