Royalty Stacking definition

Royalty Stacking means that if Licensee, in order to exploit the Licensed Technology, is required to take a royalty bearing license from a Third Party, Licensee shall be allowed to reduce the royalty due to the University by [***] for each [***] of royalty due to such Third Party. The royalty due to the University shall however always be at least [***].
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Royalty Stacking. If Wize is required to make any payment to a third party to obtain a license for commercialization of the Licensed Product, it shall be entitled to deduct up to fifty percent (50%) of such third party payments made in a particular calendar year against royalties payable to Copernicus for that year; provided that, the total royalty payment to Copernicus for any one-year period shall not be less than (i) [***] percent ([***]%) for as long as Net Sales are less than $[***] million and (ii) thereafter, [***] percent ([***]%); and provided, further, that such third party payments shall only be creditable against royalties payable to Copernicus for the calendar year in which the third party payment was actually made by Wize.
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Examples of Royalty Stacking in a sentence

  • The provisions of Sections 6.3.3(a) (No Valid Claim) and 6.3.3(b) (Royalty Stacking) are cumulative.

Related to Royalty Stacking

  • Hemp products means all products made from industrial hemp,

  • Licensed producer means a person or entity licensed to produce medical cannabis.

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • processed products means goods placed under a processing procedure which have undergone processing operations;

  • Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the extent that the owner is not an operator as defined in subsection (17) of this section;

  • Hemp product means the same as that term is defined in § 3.2-4112.

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Licensee has the meaning set forth in the preamble.

  • Licensed service area means the geographic area in which the home service provider is authorized by law or contract to provide commercial mobile radio service to the customer.

  • Licensed Services means all functions performed by the Licensed System.

  • Royalty-Bearing Product means (a) any Product that is not a Co-Developed Product and (b) any Co-Developed Product to the extent sold outside of the Co-Development Territory.

  • Net Sales means [***].

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Royalty Fee means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Bioassay means the determination of kinds, quantities or concentrations and, in some cases, the locations of radioactive material in the human body, whether by direct measurement, in vivo counting, or by analysis and evaluation of materials excreted or removed from the human body. For purposes of these rules, “radiobioassay” is an equivalent term.

  • Cannabis products means cannabis that has undergone a process whereby the plant material has been transformed into a concentrate, including, but not limited to, concentrated cannabis, or an edible or topical product containing cannabis or concentrated cannabis and other ingredients.

  • Licensee Data means, other than Resultant Data, information, data and other content, in any form or medium, that is collected, downloaded or otherwise received, directly or indirectly from Licensee or an Authorized User by or through the Services.

  • Marijuana products means concentrated marijuana products and marijuana products that are comprised of marijuana and other ingredients and are intended for use or consumption, such as, but not limited to, edible products, ointments, and tinctures.

  • Marijuana producer means a person who produces marijuana in this state.

  • Licensed User means an employee, contractor or agent of Client who is authorized by Client to access and use the Licensed Software, to whom a password and user ID has been issued by Client and whose access to the Licensed Software has not been terminated, suspended or surrendered.

  • Licensed System means, collectively:

  • licensed distributor means any holder of a distribution licence.

  • Sublicensee means a third party to whom LICENSEE grants a sublicense of certain rights granted to LICENSEE under this Agreement.

  • the Licensee means the person(s) named in the licence.