Royalty Due Date definition
Examples of Royalty Due Date in a sentence
The royalties will become due and payable within sixty (60) days after each respective Royalty Due Date and shall be calculated in respect of the Net Sales in the three (3) month period ending with the applicable Royalty Due Date.
Any monetary payments or portions thereof due hereunder which are not paid on the date such payments are due under this Agreement will bear simple interest at a rate equal to the lesser of the prime rate as published in The Globe and Mail, on the first day of each Royalty Due Date in which such payments are overdue, or the maximum rate permitted by law, whichever is lower, calculated on the number of days such payment is delinquent.
The amounts payable by Sundial to Pathway set forth in Section 4.1 (the “Royalties”) will be paid by Sundial [***] and, will become due and payable within [***] after each respective Royalty Due Date and will be calculated based on the Gross Revenue or the Net Revenue, as applicable, in the twelve (12) month period immediately preceding the applicable Royalty Due Date.
The royalties will become due and payable within 60 days of each respective Royalty Due Date and shall be calculated in respect of the Net Sales in the three (3) month period immediately preceding the applicable Royalty Due Date.
Cardiol shall make any royalty payments owed to Meros hereunder in arrears, within sixty (60) days after each Royalty Due Date.
The royalties from Archemix to Isis set forth in Section 5.4 are due and payable within [***] days after each respective Royalty Due Date and will be calculated based on the Net Sales in the calendar quarter immediately preceding the applicable Royalty Due Date.
Within [***] after each respective Royalty Due Date, Sundial will furnish to Pathway a written report showing in reasonably specific detail, the Gross Revenues and Net Revenues earned during the applicable calendar year on Royalty Activities, including calculation of the royalties which will have accrued based upon such Gross Revenues and Net Revenues, and the withholding taxes, if any, required by law to be deducted with respect to such Gross Revenues and Net Revenues.
This payment will not be refunded to the Licensee (in whole or in part) under any circumstances, except that the difference between the minimum annual royalty and the earned royalties payable under Article 5.1 in the same year will be credited against future earned royalties on each successive Royalty Due Date.
In each case royalties will be calculated in respect of the Net Sales in the calendar quarter immediately preceding the applicable Royalty Due Date.
Licensee will pay any royalties due and payable on Net Sales and Sublicensing Revenue within 30 days after a Royalty Due Date for the six-month period immediately ending on the applicable Royalty Due Date.