Royalty Net Sales definition

Royalty Net Sales means, for a Licensed Product in a particular period, the amount calculated by subtracting from the Royalty Sales of such Licensed Product for such period: (a) a lump sum deduction of [*] in lieu of those deductions that are not accounted for on a Licensed Product-by-Licensed Product basis, including without limitation freight, postage charges, transportation insurance, packing materials for dispatch of goods, custom duties; (b) uncollectible amounts accrued during such period based on [*] in accordance with the then-currently used IFRS in the calculation of Royalty Sales of such Licensed Product for such period; and (c) government mandated fees and taxes (excluding income or franchise taxes) and [*] in accordance with the then-currently used IFRS in the calculation of Royalty Sales of such Licensed Product for such period, including, for example, any fees, taxes or other charges that become due in connection with [*]. For clarity, any given deduction shall be taken only under one of subsections (a) and (b), and only once in calculating Royalty Net Sales.
View Source
Royalty Net Sales means, for a Licensed Product in a particular period, the amount calculated by subtracting from the Royalty Sales of such Licensed Product for such period: (a) a lump sum deduction of [*] in lieu of those deductions that are not accounted for on a Licensed Product-by-Licensed Product basis, including without limitation freight, postage charges, transportation insurance, packing materials for dispatch of goods, custom duties; (b) uncollectible amounts accrued during such period based on [*] in accordance with the then-currently used IFRS in the calculation of Royalty Sales of such Licensed Product for such period; and (c) government mandated fees and taxes (excluding income or franchise taxes) and [*] in accordance with the then-currently used IFRS in the calculation of Royalty Sales of such Licensed Product for such period, including, for example, any fees, taxes or other charges that become due in connection with [*]. For clarity, any given deduction shall be taken only under one of subsections (a) and (b), and only once in calculating Royalty Net Sales. 1.89.“Royalty Sales” means, for a Licensed Product in a particular period, the sum of (a) and (b) below: (a)The amount [*] with respect to such Licensed Product for such period [*] in the Royalty Territory. This amount reflects [*], taken in accordance with the then-currently used IFRS. By way of example, the gross-to-net deductions taken in accordance with IFRS as of the Effective Date include the following: [*]. For clarity, any given deduction shall be taken only under one of subsections (i) through (v), and only once in calculating Royalty Sales. For purposes of clarity, sales by Roche and its Affiliates to any Sublicensees that are not Affiliates of Roche shall be excluded from “Royalty Sales”, unless such Sublicensees are end users of such Licensed Product.
View Source
Royalty Net Sales means actual gross sales less (i) the sum of actual returns, cash discounts, quantity discounts and freight discounts actually taken, and (ii) the amount of actual returns for defective or damaged products.
View Source

Examples of Royalty Net Sales in a sentence

  • Royalties on Royalty Net Sales and all other amounts payable by Roche under this Agreement shall be paid by Roche in Dollars (the “Payment Currency”) to account(s) designated by Prothena.

  • Roche shall calculate royalties on Royalty Net Sales quarterly as of March 31, June 30, September 30 and December 31 (each being the last day of an “Accounting Period”) and shall pay royalties on Royalty Net Sales to Prothena within [*] after the end of each Accounting Period in which such Royalty Net Sales occur.

  • The Parties also recognize that such procedures may change from time to time and that any such changes may affect the definition of Royalty Net Sales or Profit and Loss.

  • Notwithstanding the foregoing, in no event shall the application of Section 9.6(a) and Section 9.6(b) reduce the royalties due under Section 9.5 below [*] of Royalty Net Sales of a Licensed Product in any country; [*].

  • These must be scheduled by the HOA through the CITY Parks & Recreation Reservation System prior to February 1 each year to receive priority over any other reservation request.

  • Any audit shall be carried out within CARING business hours and CARING shall provide access to all documentation related to sales and supplies of the Licensed Product and calculation of the Milestone Payment the Royalty, Net Sales, and other sums due under the Agreement.

  • Year Minimum Royalty Net Sales ------------- ----------------- -------------- First $72,000 $1,200,000 Second 144,000 2,400,000 Third 216,000 3.600,000 The guaranteed minimum royalty shall be paid in twelve (12) equal installments on the first day of each month during each Contract Year, so that, the first payment of annual guaranteed minimum royalty amounting to $6,000 shall be paid on January 1, 1999.


More Definitions of Royalty Net Sales

Royalty Net Sales means, with respect to a given period of time, the gross amounts invoiced in such period, less the following deductions from such gross amounts which are actually incurred, allowed, paid, accrued or specifically allocated:
View Source