Sublicensing Royalty definition
Examples of Sublicensing Royalty in a sentence
In the event an examination of Licensee’s or Bioamber’s records reveals an underpayment of more than 5% of the accurate Running or Sublicensing Royalty amount for any Accounting Period, Licensee will pay all costs incurred by Licensors related to the examination of records in addition to paying the Royalty balance due.
Subsequent to the first commercial sale of a Licensed Product, the aforementioned Annual License Maintenance Fees owed to University after such first commercial sale of Licensed Product shall be creditable towards payments owed to University pursuant to Section 3.4 (Earned Royalty), Section 3.6(i) (Sublicensing Revenue), and Section 3.6(ii) (Sublicensing Royalty Revenue) in any given year.
If Licensee recovers monetary damages in the form of a reasonable royalty as a remedy for the infringement of Patent Rights, then, after applying such royalty to the recovery of the costs and expenses incurred in obtaining or negotiating for such royalty (including attorneys’ fees), the remaining amount of any such royalty shall be treated as Sublicensing Royalty Revenue in accordance with Section 3.6(ii).
Relative economic benefit relating to Sublicensing Royalties will be measured for ABPI by the amount of the ABPI royalty received from the Royalty Product (the ABPI economic benefit), and for BDSI by the amount of BDSI Sublicensing Royalties minus ABPI royalty paid minus fully loaded cost of sales for the Royalty Product (the BDSI Sublicensing Royalty economic benefit).
A similar adjustment mechanism shall apply with respect to Sublicensing Revenue and Sublicensing Royalty Revenue arising from Combination Products.
If Licensee recovers monetary damages in the form of a reasonable royalty as a remedy for the infringement of Patent Rights, then, after applying such royalty to the recovery of the costs and expenses incurred in obtaining or negotiating for such royalty (including attorneys’ fees), the remaining amount of any such royalty shall be treated as Sublicensing Royalty Revenue in accordance with Section 3.6.2.
Payments by Licensee of Sublicensing Royalty Revenue and royalties paid on Net Sales of Licensed Products shall be creditable against the Annual Maintenance Fee to the extent such amounts are attributable to activities during the [***] period preceding the due date of the annual maintenance fee.
The value of any equity investments in TTI by a sublicensee in excess of the valuation based upon TTI’s last share transaction with a Third Party (other than an officer, employee or shareholder of TTI), where such Third Party share transaction has a value of more than $100,000 shall, provided that such increase in not otherwise arising from a bona fide increase in the fair market value of such equity investments from the last share transaction, be treated as a Sublicensing Royalty.
Subject to the other terms of this Section 2.1, and pursuant to Section 3.3 of the Agreement, during the Royalty Term, Intrexon shall pay ARES TRADING the Earned Royalty and the Sublicensing Royalty on each Specified CAR-T Product on a country-by-country basis.
Where the outcome of such challenge determines that the Patent Rights are valid, the challenging party shall pay three times all royalties, Sublicensing Revenue and Sublicensing Royalty Revenue specified in this Agreement for the remaining term of the Agreement.