Royalty Period definition

Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Royalty Period means, with respect to the Royalties, the period commencing with the initial payment of the Royalties to the Investor and ending on such date as set forth in Schedule A.

Royalty Period shall be as defined in Section 5.4.1(c).

Examples of Royalty Period in a sentence

Royalty payments under Section 4.5 may never be reduced by more than [***] in any Royalty Period.
Company shall convert foreign currency to United States dollars at the conversion rate existing in the United States (as reported in the Wall Street Journal) on the last working day of the calendar quarter preceding the applicable Royalty Period.
As long as Company remains the exclusive licensee of the Patent Rights in any portion of the Field, if Company is legally required to make royalty payments to one or more third parties in order to practice the Patent Rights granted under this Agreement in the portion of the Field for which the license is exclusive, Company may offset up to [***] of third-party payments against royalty payments that are due to UMass Chan in the same Royalty Period.
If any audit performed under this Section 5.6 reveals an underpayment in excess of ten percent (10%) in any Royalty Period, Company shall bear the full cost of the audit.
If no royalties are due to UMass Chan for any Royalty Period, the report shall so state.

More Definitions of Royalty Period

Royalty Period means on a Product-by-Product and country-by-country basis, the period of time commencing on the Commercial Launch of such Product in such country, and ending on the latest to occur of (i) the twelfth (12th) anniversary of Commercial Launch of such Product in such country, (ii) the expiration of all Valid Claims of Product Patent Rights Covering such Product in such country, and (iii) the expiration of Regulatory Exclusivity for such Product in such country.

Royalty Period has the meaning set forth in Section 6.2.2.

Royalty Period shall have the meaning given in Section 8.7(iv).

Royalty Period will have the meaning described in Section 3.2.1.

Royalty Period means the period commencing upon the First Commercial Sale in the Territory and will continue, on a country-by-country basis, for the later of (i) until the expiration of the last Valid Claim under any Licensed Patent covering or claiming such Licensed Product in such country of the Territory; or (ii) for Licensed Products the manufacture, use or sale of which does not infringe, or no longer infringes, any Valid Claim in a country in the Territory, twenty (20) years from the First Commercial Sale in such country.

Royalty Period has the meaning set forth in Section 5.1.

Royalty Period means one of two six (6) month periods during a calendar year, the first beginning on January 1 and ending June 30 and the second beginning on July 1 and ending December 31, except that the initial Royalty Period shall begin on the Effective Date and end on December 31 of that same calendar year.