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

  • Examples of the calculation of royalty stacking in accordance with this Section 7.6.1 are set out in Schedule 7.6.1 (Royalty Stacking).

  • 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 an agent, broker, or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law of any jurisdiction.

  • 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 natural 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.

  • 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;