Examples of Product Formulation Royalties in a sentence
Within fifteen (15) days of the collection or receipt by MFFB or its Affiliates, as applicable, of any Product Formulation Royalties, MFFB or its Affiliates shall pay to, or as directed by, Buyer such amounts owing Buyer in immediately available funds by wire transfer.
Notwithstanding the foregoing, MFFB shall use, and shall cause its Affiliates to use, good faith efforts to have the counterparty to each Vendor Agreement pay Buyer the Product Formulation Royalties directly, based upon the Vendor Allocation Schedule.
From and after the Closing Date, MFFB or its Affiliates, as applicable, shall (i) ,within five (5) Business Days of its receipt of any Product Formulation Royalties that are to be paid to Buyer hereunder, pay Buyer such Product Formulation Royalties and provide Buyer with a notice detailing such amounts, which notice shall include sufficient detail setting forth the calculation of such amounts and (ii) until payment of such Product Formulation Royalties to Buyer, hold such amounts in trust for Buyer.
From and after the Closing Date, MFFB or its Affiliates, as applicable, shall notify Buyer within five (5) days of its receipt of any Product Formulation Royalties that are to be paid to the Buyer hereunder, which notice shall include sufficient detail setting forth the calculation of such amounts.