Royalty Collateral definition

Royalty Collateral means, with respect to a Debt Asset, (i) future payments receivable by the Borrower on a Product (or Products) in the form of royalty payments or other revenue sharing arrangements; or (ii) future distributions receivable by the Borrower based on royalty payments generated from a Product (or Products); or (iii) both limb (i) and limb (ii).

Royalty Collateral. ’ means, with respect to a Debt Asset,

Royalty Collateral means the “Collateral”, as defined in the Royalty Security Agreement.

Examples of Royalty Collateral in a sentence

• None of the Royalty Collateral (other than the Revenue Participation Right and Revenue Payments, which are covered by the immediately preceding sentence) is subject to, or encumbered by, any Lien other than Permitted Liens.

• Set forth on Schedule 4.7(d) is a complete and correct list, of each Material Agreement (including any such Contract creating or evidencing any Royalty Collateral or Material Indebtedness).

• The Seller and its Affiliates are, and all Product Commercialization and Development Activities of such Persons are being conducted in compliance in all material respects with all applicable Healthcare Laws, except where the failure to do so with respect to any property other than the Royalty Collateral could not reasonably be expected to result in a Material Adverse Effect.

• The Seller shall not, and shall not permit any of its Affiliates to, and shall not approve, consent to or otherwise enable a Collaboration Partner to, create, incur, assume or suffer to exist any Lien on the Revenue Participation Right, the Revenue Payments, Product Rights, or any other Royalty Collateral except for (i) the Back-Up Security Interest and (ii) as applicable, any Permitted Lien.

More Definitions of Royalty Collateral

Royalty Collateral means, with respect to a Debt Asset, (i) future payments receivable by the Borrower on a Product (or Products) in the form of royalty payments or other revenue sharing arrangements; or (ii) future distributions receivable by the Borrower based on royalty payments generated from a Product (or Products); or (iii) both (i) and (ii)“Debt” includes loans, notes, bonds and other debt instruments and securities, including convertible debt, and Priority Royalty Tranches.

Royalty Collateral is defined in Section 2.3.

Royalty Collateral means, with respect to a Debt Asset, (i) future payments receivable by the Borrower on a Product (or Products) in the form of royalty payments or other revenue sharing arrangements; or