Reduced Royalty definition

Reduced Royalty means the Royalty you will pay during a Successor Franchise Rights Term if you qualify under Article 4.
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Reduced Royalty shall have the meaning set forth in Section 7.4.
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Reduced Royalty means, [***]
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Examples of Reduced Royalty in a sentence

  • Further for clarity, after the expiration of the Reduced Royalty Term in each country in the Territory, no further royalties shall be due with respect to Net Sales in such country and the licenses granted to ARIAD SWISSCO hereunder shall become fully paid-up and royalty-free with respect to such country for the remainder of the Term.

  • On a country-by-country basis, other than [***], Roche’s obligation to make royalty payments hereunder in such country will end on the expiration of the Reduced Royalty Period in such country.

  • During your Initial Term and if you are awarded Successor Franchise Rights, you may qualify for a reduced Percentage Royalty (Graduated Reduced Royalty) as follows, (i) for Gross Revenue of between $500,001 and $1,000,000 you will pay a Graduated Reduced Royalty of 4%; then, (ii) for Gross Revenue over $1,000,000 you will pay a Graduated Reduced Royalty of 2%.

  • If you signed this Franchise Agreement during the year in which the program was terminated, you might receive no Graduated Reduced Royalty.

  • Your right to the Graduated Reduced Royalty is based on a calendar year and begins on January 1 of each year.

  • On a country-by-country and Collaboration Product-by-Collaboration Product basis, other than [***], Biogen Idec’s obligation to make royalty payments hereunder for such Collaboration Product in such country will end on the expiration of the Reduced Royalty Period in such country.

  • During the Reduced Royalty Period, unless Section 6.9.2(g)(iv) applies, in no event will the aggregate royalty offsets reduce the royalties payable to Ionis on Net Sales of a Product in any given period to an amount that is less than the greater of (A) [***].

  • The Initial Franchise Fee is discounted to $17,500 and is paid when the Reduced Royalty franchise agreement is signed.

  • The wisteria along parts of US80 in the eastern part of the county was also mentioned.

  • During the Full Royalty Period or Reduced Royalty Period, as applicable, in no event will the royalty offsets attributable to Section 6.11.2(b) reduce the royalties payable to Ionis on Net Sales of a Product in any given period to an amount that is less than the greater of (A) [***].


More Definitions of Reduced Royalty

Reduced Royalty will have the meaning set forth in Section 9.2(b)(i).
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Reduced Royalty has the meaning set out in Section 8.3(a).
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Related to Reduced Royalty

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

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

  • Royalty Fee means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

  • 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.

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

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

  • 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.

  • 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.

  • Sublicensing Revenue means all (i) cash, (ii) sublicensing fees and (iii) all other payments and the cash equivalent thereof, which are paid to LICENSEE by the Sublicensees of its rights hereunder, but excluding the following payments:

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

  • Net Sales means [***].

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

  • Sublicense Revenue means any payments or other consideration that CTI actually receives from a Sublicensee as consideration for the grant of a Sublicense, including, without limitation, milestone payments, license fees, license maintenance fees and equity. Sublicense Revenue excludes (i) purchases of equity or debt of TGTX, (ii) payments made for GTX’s performance of any research, Development, or Commercialization of any Licensed Product, (iii) (b) royalties on Net Sales (or, in the case of a profit sharing deal structure, shares of net profits) which are covered in Section 5.9, and (iv) any payment or reimbursement of any costs or expenses incurred by TGTX for filing, prosecution, maintenance, or defense of any DFCI Patents. In the event such consideration received from a Sublicensee is not cash, Sublicense Revenue shall be calculated by TGTX based on the fair market value of such consideration, at the time of the transaction, assuming an arm’s length transaction made in the odinary course of business.

  • Third Party Royalties means any royalties or license fees owing to a Third Party attributable to the manufacture, use or sale of Products and in consideration of a license under any patent which such Product would otherwise infringe.

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

  • Net Sales Price means the gross billing price of any PRODUCT received by Licensee or its SUBLICENSEE for the sale or distribution of any PRODUCT, less the following amounts actually paid by Licensee or SUBLICENSEE:

  • Gross Sales Price with respect to each sale of Shares sold pursuant to this Agreement shall be the gross sales price per share of such Shares.

  • Sublicense Revenues means all revenue, in whatever form but excluding sublicense royalties, earned by the Licensee in consideration of its granting a Third Party a sublicense to make a Licensed Product including, without limitation, receipt of annual milestone attainment, sublicense issuance, maintenance or up-front payments, or technology access fee; and issuance of securities or real, personal or intangible property.

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

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

  • Percentage Rent As defined in Subsection 3.1(b).

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1, or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • License Fees means the license fees, including all taxes thereon, paid or required to be paid by Licensee for the license granted under this Agreement.