Examples of Percentage Royalty in a sentence
In consideration of the rights and licenses granted under this Agreement, Licensee shall pay to Licensor for each Contract Year the greater of the Minimum Royalty set opposite the column of such Contract Year in Exhibit A to this Agreement or the Percentage Royalty accrued for such Contract Year.
In the event that the total amount of Percentage Royalty accrued for a particular Contract Year exceeds the amount of Minimum Royalty for such Contract Year, such excess amount shall be paid within forty-five (45) days following the end of such Contract Year.
For the purpose of the computation of the royalty hereunder in respect of each Contract Year, the Net Sales Price shall be converted into US Dollars using the spot rate for the purchase of US Dollars with Korean won quoted at 11:00 A.M. on the last business day of the Contract Year, and the Percentage Royalty for the Contract Year shall accrue on the Korean won amount of the Net Sales Price.
Minimum Royalty and Percentage Royalty shall be payable in accordance with Sections 6.2 and 6.3 below.
Such royalty statement shall set forth the quantity of each item of the Licensed Products manufactured and sold during a given Contract Year, the Net Sales Price of the Licensed Products sold during the Contract Year, together with the Percentage Royalty, if any, payable to Licensor for the Contract Year and each sum of deductions and returns of Licensed Products.