Annual License Maintenance Fee. In consideration of the license granted to Licensee pursuant to Section 2.1, commencing on the first anniversary of the Effective Date of this Agreement, and continuing thereafter during the Term, Licensee will pay to Geron an annual, non-refundable, non-creditable license maintenance fee, in each case, of ten thousand U.S. dollars ($10,000 USD)(each, a “License Maintenance Payment”). Licensee shall pay each License Maintenance Payment to Geron within thirty (30) calendar days after each anniversary of the Effective Date with respect to the immediately preceding annual period (each such period, a “License Maintenance Period”).If this Agreement expires or is terminated, Licensee will pay Geron a pro-rated License Maintenance Payment calculated by multiplying ten thousand U.S. dollars ($10,000 USD) by a fraction, the numerator of which is the number of days of the applicable License Maintenance Period that have elapsed as of the date of such expiration or termination, and the denominator of which is the total number of days in such License Maintenance Period.
Annual License Maintenance Fee due on the anniversary of the Effective Date. The Annual License Maintenance Fee will be credited against royalties in the current fiscal year.
Annual License Maintenance Fee. Licensee shall pay an annual license maintenance fee of [*] dollars ($[*]) each year on the anniversary of the Effective Date of this Agreement. The annual license maintenance fee is payable until the first commercial sale of a Licensed Product, after which time minimum royalties instead of the annual license maintenance fee are due.
Annual License Maintenance Fee. Licensee shall pay an Annual License Maintenance Fee to University in the amount indicated in the Schedule below based on the type of Licensed Product(s) being developed or commercialized by Licensee (or any Affiliate or Sublicensee). If Licensee (or any Affiliate or Sublicensee) is developing or commercializing one or more Clinically-Approved Products and one or more Other Products, only the higher fee shall be due. Until such time as Licensee (together with Affiliates and Sublicensees) has incurred costs as described in Section 1.4(ii), the Licensed Product shall be deemed to be an Other Product for purposes of determining fees payable under this Section 3.5. Annual License Maintenance Fee Schedule Years Date Due Clinically- Approved Product Other Product 3rd complete calendar year following the Effective Date through the 5th complete calendar year following the Effective Date 6th complete calendar year following the Effective Date and each calendar year thereafter Each March 15th beginning on March 15, 20 and continuing through March 15, 20 Each March 15th beginning on March 15, 20 and continuing throughout the term of this Agreement $15,000 $5,000 $30,000 $10,000 The aforementioned Annual License Maintenance Fees shall be paid to University on the dates set forth in the above table. 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.
Annual License Maintenance Fee. Licensee shall pay to BIDMC the following non-refundable and non-creditable amounts as an annual license maintenance fee within thirty (30) days after each of the following anniversaries of the Effective Date:
Annual License Maintenance Fee. Seventy five thousand dollars ($75,000) due on the anniversary of the Effective Date. The Annual License Maintenance Fee will be credited against royalties in the current fiscal year.
Annual License Maintenance Fee. Beginning on the second anniversary of the Effective Date and continuing for the term of this Agreement, COMPANY will pay to MAYO Annual License Maintenances fees on the applicable anniversary of the Effective Date. The first License Maintenance fee payment will be [***]. The Annual License Maintenance fee due in subsequent years will be [***]. Annual License Maintenance Fees shall not be due in any year where the aggregate amount of the Milestone Fees and Earned Royalties are greater than the applicable Annual License Maintenance Fee. If in any year during the Term the aggregate amount of the Milestone Fees and Earned Royalties payments made during such year is less than the applicable Annual License Maintenance Fee for such year (a “Shortfall”), then COMPANY shall make an Annual License Maintenance Fee payment to MAYO in the amount of the Shortfall together with the Milestone Fees and Earned Royalty payment for such year.
Annual License Maintenance Fee. Licensee agrees to pay Harvard annual license maintenance fees as follows:
Annual License Maintenance Fee. Commencing on the third anniversary of the Effective Date and thereafter on each anniversary of the Effective Date for the duration of the Term of this Agreement, Licensee shall pay to CSMC a non-refundable annual license maintenance fee in the amount of Ten Thousand Dollars ($10,000) per year (“Maintenance Fee”). The annual Maintenance Fee shall be creditable against Royalties otherwise payable under Sections 4.4(a) and (b) during the applicable twelve (12) month period; provided, however, that Licensee may not carry over to the following year any amount by which the Maintenance Fee paid exceeds the actual amount of Royalties payable under Sections 4.4(a) and (b) during the applicable 12-month period.
Annual License Maintenance Fee. Company shall pay Hospital a non-refundable, non-creditable Annual License Maintenance Fee as follows:
