Reduced Royalty Term definition

Reduced Royalty Term has the meaning set forth in Section 19.2.2.
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Reduced Royalty Term means, in any country in the Territory, the period of time beginning with the date following the expiration of the Base Royalty Term in such country and continuing until the fifteenth anniversary of the Effective Date.
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Reduced Royalty Term has the meaning set forth in Section 9.3.3 (Reduced Royalty Term).
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Examples of Reduced Royalty Term 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.

  • The payments being a percent Net Sales shall be made during the Full Royalty Term, and shall reduce to [**] of Net Sales thereafter for the Reduced Royalty Term.

  • For all actual Net Sales above the Baseline (the “Incremental Sales”), Otsuka shall pay ARIAD, on a [***] basis at the same time Otsuka pays royalties pursuant to Section 19.3.4, a co-promotion fee of [***] percent ([***]%) of the Incremental Sales during the Full Royalty Term and the Reduced Royalty Term (the “Co-Promotion Fee”), in addition to the Transfer Price.

  • 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 Otsuka hereunder shall become fully paid-up and royalty-free with respect to such country for the remainder of the Term.

  • ProQR will pay Ionis royalties on Net Sales of Licensed Products at the Reduced Royalty Rate during the Reduced Royalty Term.

  • Within [**] days after the end of each Calendar Quarter during any Full Royalty Term or Reduced Royalty Term, Novartis shall submit to Ophthotech a report, on a Product-by-Product and country-by-country basis, providing the Net Sales (including units sold) of Product(s) during such Calendar Quarter and Standalone Product Net Prices for such Calendar Quarter and the calculation of the applicable royalties under Section 7.04.

  • The payments being a percent Net Sales shall be made during the Full Royalty Term, and shall reduce to [***] of Net Sales thereafter for the Reduced Royalty Term.

  • Within sixty (60) days after the end of each Calendar Quarter during the Royalty Term and Reduced Royalty Term, Buyer shall deliver to Seller an accurate and complete written accounting of (i) Buyer’s and Licensee’s U.S. Net Sales and (ii) Buyer’s and Licensees’ Ex-U.S. Gross Sales, and (iii) the royalties due to Seller for such quarter (“Quarterly Reports”).

  • Subject to further reduction pursuant to Section 7.04(d), Novartis shall pay to Ophthotech royalties on a Product-by-Product and country-by-country basis during the applicable Reduced Royalty Term on aggregate Net Sales of such Product in such country by Novartis, its Affiliates or Sublicensees in an amount equal to [**] percent ([**]%) of the royalties set forth in Section 7.04(a).


More Definitions of Reduced Royalty Term

Reduced Royalty Term has the meaning set forth in Section 5.4.2(b).
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Reduced Royalty Term means, on a country-by-country and Licensed Product-by-Licensed Product basis, the period commencing upon January 1 following the expiration of the Full Royalty Term in such country for such Licensed Product.
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Reduced Royalty Term. Reduced Royalty Term means the period beginning on the expiration of the Full Royalty Term for a Product in a country and expiring upon Novartis’ actual last commercial sale of such Product in such country.
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Related to Reduced Royalty Term

  • Royalty Term means, on a country-by-country basis, the period commencing on the First Commercial Sale of a Licensed Product in a country and ending on the latest of (a) ** thereafter, (b) expiration of the last-to-expire Valid Claim of a Licensed Patent that Covers the composition of matter of the Licensed Product in the country in which it is sold, or (c) the expiration of all Regulatory Exclusivity Rights with respect to such Licensed Product in the country in which it is sold.

  • 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.

  • 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.

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

  • Net Sales means [***].

  • Royalty Rate means the percentage defined in Exhibit B.

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

  • License year means the period of time for which a

  • Minimum Royalty has the meaning set forth in Section 4.4(c).

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

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

  • Royalty Fee “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.

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

  • Sublicense Revenue means [***].

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • 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.

  • 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 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.

  • Sublicense Revenues means [***].

  • 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.

  • Sales Milestone Payment shall have the meaning set forth in Section 8.4.

  • Royalty Product means, either (a) an Alnylam Royalty Product, or (b) an Inex Royalty Product.

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

  • License Fee means the amount payable by the licensee to DMRC as per rates offered by the Selected Bidder for utilization of licensed space and accepted by DMRC to be paid by the Licensee along with other charges and any kind of Central or State Taxes, local levies, statutory dues, etc. that may be payable by the licensee as per prevalent law.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • 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.