ROYALTY PAYMENT PERIOD definition

ROYALTY PAYMENT PERIOD means each calendar quarterly period during the Term and during the sell-off period, if granted.

ROYALTY PAYMENT PERIOD means the period of time beginning on the fourth anniversary of the EFFECTIVE DATE if on such date the JHU SHARES do not have a fair market value of at least [***] and continuing thereafter until the aggregate payments as described in Paragraph 4.14 below have been paid.

ROYALTY PAYMENT PERIOD means the period beginning on the Effective Date and ending on the expiration of the current calendar quarter and each calendar quarterly period thereafter.

Examples of ROYALTY PAYMENT PERIOD in a sentence

• If the Royalty Payment is payable for any period that is less than a Royalty Payment Period, the System Sales for such period will be deemed to be 1/28th of the System Sales for the Royalty Payment Period ending at the end of such period, multiplied by the number of days in such period and if any such Royalty Payment Period begins or ends before or after the Term, as if this Agreement had been in effect for the whole of such period.

• Within, but no later than, thirty (30)days following the end of each Royalty Payment Period during the Term, Licensee shall submit to Licensor – or make available within the Licensor’s OnLine account - a full and accurate statement of account including but not limited to invoiced quantities, price, permitted discounts, allowances, Net Sales and the Royalties payable.

• If in an audit of Licensee's records it is determined that there is a short fall of five percent (5%) or more in Royalties reported for any Royalty Payment Period, Licensee shall upon request from Disney reimburse Disney for the full out-of-pocket costs of the audit, including the costs of employee auditors calculated at U.S. $100 per hour per person for travel time during normal working hours and actual working time.

• If the sell-off period is extended by Disney to a date which is not the last day of the Royalty Payment Period, Licensee's statement and Royalties for such sell-off period shall be due twenty-five (25) days after the last day of the sell-off period.

• If in any Royalty Payment Period Licensee has not satisfied the Promotion Commitment, Licensee (i) may carry forward such shortfall into the next succeeding Royalty Payment Period (other than in the case of a shortfall in the final Royalty Payment Period hereunder, in which case no carry forwards shall be permitted), or (ii) shall pay Disney the amount of such shortfall as liquidated damages; provided, however, no shortfall (or fraction thereof) may be carried forward more than twelve months.

More Definitions of ROYALTY PAYMENT PERIOD

ROYALTY PAYMENT PERIOD means a period of four weeks commencing on a Monday and ending on the Sunday of the fourth week immediately following such Monday.

ROYALTY PAYMENT PERIOD means (i) the period of time commencing on the date of the first commercial sale of a Licensed Product in any country and ending on the day immediately before the first day of the seventh calendar month thereafter and (ii) each subsequent period of six calendar months.

ROYALTY PAYMENT PERIOD shall have the meaning set forth in Section 9.4.1.

ROYALTY PAYMENT PERIOD means, initially, the remainder of the current Calendar Quarter beginning on the Start Date, and each full Calendar Quarter thereafter until the Royalty Maturity Date.

ROYALTY PAYMENT PERIOD means each month in a calendar year.

ROYALTY PAYMENT PERIOD means each calendar quarterly period (January-March, April- June, July-September, and October-December) during the Term and during the Sell-off Period, if granted.

ROYALTY PAYMENT PERIOD has the meaning set forth in Section 2.3(b).