Net Sublicensing Income definition

Net Sublicensing Income means cash income (or any other consideration received in lieu of a cash payment, including, without limitation, securities, materials and equipment) received from a Sublicensee in consideration of the grant to such Sublicensee of a [***] 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.
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Net Sublicensing Income means gross cash revenues (or the fair market value of any other consideration received in lieu of a cash payment, including, without limitation, securities, materials and equipment) received by Sponsor or its Affiliates from a Sublicensee in consideration of the grant to such Sublicensee of a sublicense under any of the Licensed Subject Matter, but excluding earned royalties and any other share of net sales (including revenue sharing and profit payments). Net Sublicensing Income shall include without limitation any license signing fee, license maintenance fee, minimum royalty payments (but only to the extent not credited against royalties due on Sublicensee’s sales of Royalty Products) or milestone payment, and any consideration received for an investment in equity (and conditional equity, such as warrants, convertible debt) of Sponsor to the extent such consideration exceeds the fair market value of such equity or other conditional equity. Not included in the definition of Net Sublicensing Income is income received by Sponsor or its Affiliates: (a) as bona fide loans; (b) from equity investments (and conditional equity, such as warrants, convertible debt) in Sponsor at market value; (c) as reimbursements for actual documented patent prosecution costs and patent maintenance expenses; (d) as payment or reimbursement for research and development and/or other services conducted by or for Sponsor, including costs of materials, equipment, manufacturing services or clinical testing, e.g., provided on the basis of full‑time equivalent (“FTE”) efforts of personnel at or below commercially reasonable and standard FTE rates (“FTE Reimbursements”) and/or the reimbursement of out-of-pocket expenses; and (e) income to Sponsor from a Sublicensee for commercial manufacturing of goods if such goods are intended for resale to third parties and the revenue derived from sales of such goods will be treated as Net Sales and subject to an earned royalty due to Buck. In addition, Sponsor shall have the right to deduct from Net Sublicensing Income withholding taxes and other taxes, duties and similar amounts owing with respect to payments included within Net Sublicensing Income, but excluding what are commonly referred to as income taxes.
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Net Sublicensing Income means any cash amounts received by Genenta and/or any Affiliates from any Sublicensee (other than any Affiliate of Genenta) in consideration for any sublicense under the Licensed Technology granted by Genenta or any of its Affiliates or Sublicensees (other than distributors) including any upfront payment, and (subject to Section 4.6) any milestone payments, but excluding the following amounts: royalties, amounts received to reimburse Genenta’s costs to perform research, development or similar services conducted for such Licensed Product after signing the agreement with the Third Party, or in reimbursement of patent expenses or other out-of-pocket expenses relating to such Licensed Product, plus, in the event that Genenta and/or any Affiliate of Genenta receives from a Sublicensee (other than any Affiliate of Genenta) any equity interest (or other non-monetary consideration) in consideration of the grant of the sublicense granted in accordance with this Agreement, the value at which such equity interest (or other non-monetary consideration), is sold, or otherwise disposed of, either before or after the termination of the licenses granted herein, by the Licensee, in both cases in addition to the dividends, distributions or other form of remuneration generated by such equity interest (or other non-monetary consideration) from time to time.
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Examples of Net Sublicensing Income in a sentence

  • In addition to the upfront payment, additional license fees, the Royalties set forth in Section 4.2 above and to the Milestone Payments set forth in Section 4.7 below, Genenta shall pay to OSR an amount equal to fifteen percent (15%) of any Net Sublicensing Income (the “OSR Sublicensing Income”).

  • For example, if Sponsor has spent $100,000 on the development of Licensed Products and receives $200,000 in Net Sublicensing Income, Sponsor shall only be obligated to pay to Buck $[***]; and [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.

  • In the event that Net Sublicensing Income includes milestone payments in relation to a Milestone Event set forth in Section 4.7, Genenta shall pay to OSR the greater of: (i) the Milestone Payment set out in Section 4.7, or (ii) the payment which would be due to OSR from Genenta pursuant to this Section 4.6 in relation to such applicable Milestone Event, but not both.


More Definitions of Net Sublicensing Income

Net Sublicensing Income means cash income (or any other consideration received in lieu of a cash payment, including, without limitation, securities, materials and equipment) received from a Sublicensee in consideration of the grant to such Sublicensee of a sublicense under the Patent Rights, but excluding earned royalties and any other share of net sales (including revenue sharing and profit payments that would otherwise be reflected in net sales) for the sale or distribution of Licensed Products. Net Sublicensing Income shall include without limitation any license signing fee, license maintenance fee, or milestone payment, and
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Related to Net Sublicensing Income

  • 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.

  • Sublicense Revenue means [***].

  • Sublicense Income means any payments that Company receives from a Sublicensee in consideration of the sublicense of the rights granted Company under Section 2.1., including without limitation license fees, royalties, milestone payments, and license maintenance fees, but excluding the following payments: (a) payments made in consideration for the issuance of equity or debt securities of Company at fair market value, and (b) payments specifically committed to the development of Licensed Products.

  • Sublicense Revenues means [***].

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

  • Net Sales means [***].

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

  • Royalty Rate means the percentage defined in Exhibit B.

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

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Gross Profits means the gross profits calculated under section 4;

  • Third Party Royalties means royalties or payments actually paid by the Company or its Affiliates to an unaffiliated third party for the right to use or exploit technology, products or proprietary rights of such third party to create or sell Licensed Product/s, which third party’s rights would otherwise be infringed or violated.

  • COGS means the cost of goods sold as determined in accordance with U.S.GAAP;

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • 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.

  • M&O Revenue means (i) those revenues which the District receives from the levy of its annual ad valorem maintenance and operations tax pursuant to Section 45.002 of the TEXAS EDUCATION CODE, or other lawful authority, and Article VII § 3 of the TEXAS CONSTITUTION, plus (ii) all State revenues to which the District is or may be entitled under the applicable provisions of the TEXAS EDUCATION CODE or any other statutory provision as well as any amendment or successor statute to these provisions, as applicable, less

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

  • Net Sales Price means the gross sales price to retailers of all Licensed Products sold under this Agreement or, with respect to Licensed Products that are not sold directly or indirectly to retailers, other ultimate consumers (as in the case of accommodation sales by Licensee to its employees or sales by Licensee in its own shops), less trade discounts, merchandise returns, sales tax (if separately identified and charged) and markdowns and/or chargebacks which, in accordance with generally accepted accounting principles, would normally be treated as deductions from gross sales, and which, in any event, do not include any chargebacks or the like for advertising, fixture or retail shop costs or contributions. Notwithstanding the foregoing, Licensor hereby waives its right to (i) receive royalties hereunder for, or (ii) include within the calculation of Net Sales Price for the purpose of calculating the Annual Advertising Obligation as set forth in paragraph 4.6 hereof, sales of units of Licensed Products sold at a discount of [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] or more off the regular wholesale price ("Discounted Units"), provided that such waiver shall only apply to the extent that the aggregate Net Sales Price of Discounted Units for any year does not exceed [OMITTED; MATERIAL FILED SEPARATELY WITH SECURITIES AND EXCHANGE COMMISSION] of the Net Sales Price of all units of Licensed Products other than Discounted Units sold in such year. No other deductions shall be taken. Any merchandise returns shall be credited in the quarter in which the returns are actually made. For purposes of this Agreement, affiliates of Licensee shall mean all persons and business entities, whether corporations, partnerships, joint ventures or otherwise, which now or hereafter control, or are owned or controlled, directly or indirectly by Licensee, or are under common control with Licensee. It is the intention of the parties that royalties will be based on the bona fide wholesale prices at which Licensee sells Licensed Products to independent retailers in arms' length transactions. In the event Licensee shall sell Licensed Products to its affiliates, royalties shall be calculated on the basis of such a bona fide wholesale price irrespective of Licensee's internal accounting treatment of such sale unless such products are sold by its affiliates directly to the end-user consumer, in which case royalties shall be calculated on the basis of the price paid by the end-user consumer, less applicable taxes. Licensee shall identify separately in the statements provided to Licensor pursuant to paragraph 7 hereof, all sales to affiliates. At least once annually and no later than 90 days after the close of Licensee's fiscal year, Licensee shall furnish to Licensor a statement of the Net Sales Price of all Licensed Products sold during the year just ended, which shall be certified by the independent auditor for Licensee as correct and in accordance with the terms of this Agreement.

  • Net Revenues means revenues less related expenses, including

  • Gross Sales means the sum total of all retail sales of tangible personal property or services as

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

  • Net Sales Value means, with respect to any Licensed Product, the gross sales price of such Licensed Product invoiced by Licensee, its Affiliate and/or its Sub-Licensee to customers who are not Affiliates (or are Affiliates but are the end users of such Licensed Product) less, to the extent actually paid or accrued by Licensee, its Affiliate and/or its Sub­ Licensee (as applicable), (a) credits, allowances, discounts and rebates to, and chargebacks from the account of, such customers for nonconforming, damaged, out-dated and returned Licensed Product; (b) freight and insurance costs; (c) cash, quantity and trade discounts, rebates and other price reductions for such Licensed Product given to such customers under price reduction programs; (d) sales, use, value-added and other direct taxes incurred on the sale of such Licensed Product to such customers; (e) customs duties, tariffs, surcharges and other governmental charges incurred in exporting or importing such Licensed Product to such customers; (f) sales commissions incurred on the sale of such Licensed Product to such customers; and (g) an allowance for uncollectible or bad debts determined in accordance with generally accepted accounting principles. For avoidance of doubt, any consideration or royalties received from Sub-Licensee(s) are excluded. If a Licensed Product consists of components that are covered by valid claim of a Prospective Patent within the Invention (a “Covered Component”) and components that are not covered by a Valid Claim (“Other Components”), then Net Sales for such Licensed Products shall be multiplied by the fraction A/(A+B), where A is the value of the Covered Component(s) as reasonably determined by Licensee, and B is the value of the Other Component(s) as reasonably determined by Licensee, and such resulting amount shall be the “Net Sales Value” for purposes of the Royalties and Sub-License Royalties calculations in Clauses 5.1.2 and 5.3.1, respectively, for such Licensed Product.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

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

  • Operating Revenue means amounts accrued or charge to customers, cli- ents, and tenants, for the sale of prod- ucts manufactured or purchased for re- sale, for services, and for rentals of property held primarily for leasing to others. It includes both reimbursable costs and fees under cost-type con- tracts and percentage-of-completion sales accruals except that it includesonly the fee for management contracts under which the contractor acts essen- tially as an agent of the Government in the erection or operation of Govern- ment-owned facilities. It excludes inci- dental interest, dividends, royalty, and rental income, and proceeds from the sale of assets used in the business.