Initial Royalty definition

Initial Royalty has the meaning set forth in Section 3.2.
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Initial Royalty shall have the meaning set forth in Section 8.1(b).
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Initial Royalty means [***] of Net Sales in the Territory.
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Examples of Initial Royalty in a sentence

  • The Initial Royalty Payment shall be applied against the first Royalties payable pursuant to Section 7.4 of this Agreement.

  • The Initial Royalty Amount shall be reset to zero at the beginning of the second Contract Year.

  • Royalties paid to PalmSource for sales by Wholly Owned Subsidiaries will count toward Licensee’s Minimum Annual Payment and Initial Royalty Amount in Exhibit D (Licensee Products, Royalties and Fees) in the same manner as Royalties paid for sales by Licensee.

  • Licensee shall pay Licensor an initial royalty payment (the "Initial Royalty Payment") of [*****] upon execution of this Agreement.

  • Licensee shall pay the Initial Royalty and Earned Royalty as a license fee to Licensor.

  • Licensee shall pay Licensor an initial royalty payment (the- "Initial Royalty Payment") of [*****] upon execution of this Agreement.

  • To the extent Alizyme owns or Controls any Patents with Valid Claims covering the subject matter of an Alizyme Improvement ("Alizyme Improvement Patents") and such Alizyme Improvement is incorporated by Prometheus into the Product during the Initial Royalty Term, such Patents shall be deemed Product Patents and added to Annex A-1 and as such shall be licensed to Prometheus according to the License in Section 2.1.1 and the Initial Royalty Term shall be extended accordingly.

  • After the Initial Royalty Term, Pfizer shall make payments to Quark [ * ] above until the expiration of the Extended Royalty Term in such country for the Licensed Product concerned; provided, however, Pfizer’s obligations to make any payments with respect to sales of Licensed Products in the Territory under Sections 5.7 and 5.8 above after the Initial Royalty Term shall expire when [ * ].

  • The parties shall also, in good faith, renegotiate the Initial Royalty Fees applicable to the Branded Version and the Proprietary Version after shipment of the first [**] Licensed Client Versions, provided that the royalties set forth in subsections 5.4(a) through (c) shall remain in effect until such time as the parties agree in writing on different royalty rates.

  • The Royalty during the Initial Royalty Term or the Alizyme Trademark and Know-How Usage Fee during the Subsequent Royalty Term may be reduced in the Prometheus Territory [***], up to a maximum reduction of [***] percent ([***]%) in the aggregate of the Royalty or Alizyme Trademark and Know-How Usage Fee, as applicable, under (a) [***]; (b) [***]; or (c) [***].


More Definitions of Initial Royalty

Initial Royalty will have the meaning set forth in Section 9.2(a)(i).
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Initial Royalty shall have the meaning as set forth in Section 3.1 below.
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Related to Initial Royalty

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

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

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

  • License Fee means the amount payable by the licensee to DMRC as per rates offered by the Selected Bidder for utilization of licensed space and accepted by DMRC to be paid by the Licensee along with other charges and any kind of Central or State Taxes, local levies, statutory dues, etc. that may be payable by the licensee as per prevalent law.

  • Sales Milestone Payment has the meaning set forth in Section 8.3.1.

  • 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.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Milestone Payments has the meaning set forth in Section 4.2.

  • 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.

  • License Fees means the license fees, including all taxes thereon, paid or required to be paid by Licensee for the license granted under this Agreement.

  • Milestone Payment means a payment identified in the Implementation Plan to be made following the issue of a Satisfaction Certificate in respect of Achievement of the relevant Milestone;

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • 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.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Milestone means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;

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

  • Royalty Term has the meaning set forth in Section 8.4(b).

  • Overriding Royalty Interest means an interest in the oil and gas produced pursuant to a specified oil and gas lease or leases, or the proceeds from the sale thereof, carved out of the working interest, to be received free and clear of all costs of development, operation, or maintenance.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Initial Payment means the dollar amount specified as the “Initial Payment” in the applicable Purchase Agreement.

  • Royalty Report has the meaning set forth in Section 6.3(a).

  • Sublicense Income means any payments that Company receives from a Sublicensee in consideration of the sublicense of the rights granted Company under Section 2.1., including without limitation license fees, royalties, milestone payments, and license maintenance fees, but excluding the following payments: (a) payments made in consideration for the issuance of equity or debt securities of Company at fair market value, and (b) payments specifically committed to the development of Licensed Products.

  • Third Party Royalties means royalties payable by either Party to a Third Party in connection with the manufacture, use or sale of Franchise Products.