Royalty Obligation definition
Examples of Royalty Obligation in a sentence
The “Sublicense Royalty Base,” with respect to a Manufacturing Sublicensee, shall be such Manufacturing Sublicensee’s Net Sales in such calendar year of Sublicensed Products not obtained from BioForm or its Affiliates and either (i) sold to Third Parties in the U.S. prior to the end of the U.S. Royalty Obligation Term or (ii) sold to Third Parties outside the U.S. in countries where a Licensed Patent is In Force and prior to the end of the applicable Ex-U.S. Royalty Obligation Term.
The term of this Agreement (the “Term”) shall commence on the Effective Date and shall continue in effect thereafter, on a country-by-country basis, through the Royalty Obligation Term, unless terminated earlier as set forth herein.
Minimum Royalty Obligation During the year commencing July 1, 1985 through June 30, 1986, Operator undertakes and agrees to pay North America a total royalty of not less than $91,700.00.
The “Royalty Base” for a calendar year shall be BioForm and its Affiliate’s Net Sales in such calendar year of Licensed Products which use either (i) sold to Third Parties in the U.S. prior to the end of the U.S. Royalty Obligation Term, or (ii) sold prior to the end of the applicable Ex-U.S. Royalty Obligation Term to Third Parties outside the U.S. in countries where a Licensed Patent is In Force.
In the event that the LICENSEE’S royalty obligation to the LICENSOR combined with third-party obligations (“Total Royalty Obligation”) exceeds a certain threshold cumulative royalty, the royalty payable by LICENSEE to LICENSOR will be reduced by an amount proportionate to the amount by which the Total Royalty Obligation by the LICENSEE exceeds the threshold.
A detailed trial balance setting forth the assets and liabilities of the Company and Rock Creek as of the Closing Date (after giving effect to the assumption of Affiliate Debt and the Royalty Obligation by Seller pursuant to Section 0, such that the Affiliate Debt and the Royalty Obligation will be excluded from such trial balance) in the form of the Trial Balance attached as Schedule 0.
At Closing, Seller shall deliver to the Company and Rock Creek releases of all obligations with respect to the Affiliate Debt, the Trial Balance Liabilities and the Royalty Obligation in form reasonably acceptable to Buyer.
Minimum Royalty Obligation Until June 30, 1986, Operator undertakes and agrees to pay North America a total royalty of not less than $58,970.00, (between INAC and INEI from one territory to another) only until June 30, 1987 may apply any excessive Royalty over minimum Royalty from previously licensed territories towards meeting this minimum Royalty obligation.
In consideration for the Financing and the Service Payments Obligation, CTI shall pay to PharmaBio the Royalty Obligation pursuant to Article V.
The assumption agreements between Seller and each of the Company and Rock Creek relating to the assumption of Affiliate Debt, the Trial Balance Liabilities and the Royalty Obligation by Seller pursuant to Section 0, in form and substance mutually acceptable to Buyer and Seller and executed by the Company and Rock Creek, as applicable, and Seller or an Affiliate of Seller other than the Company or Rock Creek.