Examples of Running Royalties in a sentence
In the event that Licensee is required to pay Third Party Royalties, then Licensee may deduct an amount equal to fifty percent (50%) of any Third Party Royalties from any Running Royalties due University hereunder (See: Section 4.01(D)) if and only if: (a) the third party is not an Affiliate of Licensee or any Permitted Sublicensee; and (b) the application for the third party patent upon which such claim is based has a priority filing date no more than eighteen (18) months prior to the Effective Date.
Notwithstanding the foregoing, Running Royalties otherwise due University may never be less than fifty percent (50%) of the Running Royalties that would be payable to University absent the effects of this Section 4.01(G).
License Maintenance Fee of ____Thousand Dollars ($_,000) per calendar year payable as of December 31, 20-- and as of December 31 of each year thereafter; provided, however, that Running Royalties paid by Licensee for a given year shall be creditable against any License Maintenance Fee due during said year.
Beginning January 1, 201_, Running Royalties equal to _____ percent (__%) of Net Sales of the Licensed Products and Licensed Processes made, used, leased or sold by or for Licensee.
Running Royalties accrued during each quarter (any part in the first or last quarter) during the term of this Agreement shall be paid to University or any other person designated by University in writing from time to time within thirty (30) days after the end of such quarter.