Annual Minimum Royalties. During the Royalty Term, Transave shall pay to PARI an Annual Minimum Royalty in US dollars in accordance with Section 9.3 below; provided, however, that, in the event Transave has permanently discontinued to Exploit the Drug Product for CF in accordance with Section 7.1(a), then the Annual Minimum Royalty shall no longer be applicable for the Drug Product for CF but the obligation to pay Annual Minimum Royalties for the Drug Product for Bronchiectasis shall remain in effect.
Annual Minimum Royalties. An annual minimum royalty of [***] is due to Caltech on the first anniversary of the Effective Date and each anniversary thereof. Any royalties or payments paid under Sections 5.3, 5.4, 5.5, and 5.6 for the one-year period preceding the date of payment of the annual minimum royalty shall be creditable against the annual minimum. Caltech shall have the right to terminate this Agreement pursuant to Section 10.2 (Termination for Monetary Breach) for failure to pay such annual minimum royalty.
Annual Minimum Royalties. (a) During the Annual Minimum Royalty Term, Inverness shall pay minimum annual royalties to BioCurex as follows: Commencing on the second anniversary of the Effective Date and ending on the anniversary of the Effective Date that follows the First Commercial Sale of a Product to a Third Party, Inverness shall pay BioCurex a minimum royalty of $150,000 per year. For the two years of the Annual Minimum Royalty Term following such period, Inverness shall pay BioCurex an Annual Minimum Royalty of *. Thereafter, for the remainder of the Annual Minimum Royalty Term, Inverness shall pay BioCurex an Annual Minimum Royalty of *.
Annual Minimum Royalties. (a) Subject to Subsection 3.5 (b), in the event that COMPANY's total annual royalty payment to LICENSORS pursuant to Section 3.4 above during the [ * ] calendar year following the year during which the first FDA Registration is granted for a Licensed Product covered by Subsection 3.4(a) above and each calendar year thereafter for so long as there exist Valid Claims in the U.S. is less than the annual minimum royalty set forth opposite such year below (the "Annual Minimum"), COMPANY shall make a payment to LICENSORS together with the report for the fourth quarter of such year required in Section 4.1 of this Agreement equal to the difference between such Annual Minimum and the total royalties paid to LICENSORS for the preceding year pursuant to Section 3.4 above: Calendar Year Annual Minimum ------------- -------------- [ * ] [ * ] * CONFIDENTIAL TREATMENT REQUESTED CS-92
Annual Minimum Royalties. In partial consideration of the License granted under this Agreement and subject to the terms and conditions of this Agreement, and in order to maintain the exclusivity of such License, beginning twelve (12) months after the First Commercial Sale in the United States or EU Major Markets, until the tenth (10th) anniversary thereof, Dance shall pay to Aerogen the amounts specified in the table below (“Annual Minimum Royalties”) less any Royalty previously paid for the applicable year: Year of Sales following First Commercial Sale Annual Minimum Royalties Sales & % Royalty Applicable 2nd [*] [*] 3rd [*] [*] 4th [*] [*] 5th – 10th [*] [*] Notwithstanding the foregoing, the Parties shall agree to eliminate or reduce the Annual Minimum Royalty in an equitable manner in the event Dance’s or its Affiliates’ or Commercialization Partners’ ability to sell the Device or Drug Product for use solely with the Device, is diminished due to (a) circumstances caused by Aerogen (including failure to achieve results or failure of Device to meet Specifications and Product Requirements as set forth in the Device Development Plan, or failure to supply Devices consistent with the Supply Agreement), (b) circumstances caused by Regulatory Authorities or (c) an event of force majeure.
Annual Minimum Royalties. In the event that, during the third full calendar year following the year during which the FDA Registration for an HBV indication is granted for a Licensed Product or any calendar year thereafter for as long as royalty obligations exist [BUKWANG REDACTED], Triangle’s total annual royalty payments (without giving effect to any credits taken pursuant to Subsection 3.2(d)) to Bukwang pursuant to Section 3.3 above are less than the annual minimum amount set forth opposite such year below (the “Annual Minimum”), Triangle shall make a payment to Bukwang together with the royalty report for the fourth quarter of such year required in Section 4.1 of this Agreement equal to the difference between such Annual Minimum and the royalties paid to Bukwang for the preceding year pursuant to Section 3.3 above. Calendar Year Annual Minimum [BUKWANG REDACTED] $ [BUKWANG REDACTED ] As used in this Section 3.4, [BUKWANG REDACTED].
Annual Minimum Royalties. In the event that, from the third full Eisai’s fiscal year ending March 31 (“Fiscal Year”) following the year during which the Licensed Product for an HBV indication is launched in China or any Fiscal Year thereafter for the eighth full Fiscal Year, Eisai’s total annual royalty payments to Bukwang pursuant to Section 3.3 above are less than the annual minimum amount set forth opposite such Fiscal Year below (the “Annual Minimum”), Eisai shall make a payment to Bukwang together with the royalty report for the latter half of such Fiscal Year required in Section 4.1 of this Agreement and the difference between such Annual Minimum and the royalties paid to Bukwang for the preceding year pursuant to Section 3.3 above. Fiscal Year Annual Minimum [BUKWANG REDACTED] $ [BUKWANG REDACTED] [BUKWANG REDACTED] $ [BUKWANG REDACTED] [BUKWANG REDACTED] $ [BUKWANG REDACTED] However, Eisai shall have no obligation to pay such annual minimum royalties after the expiration, lapse or invalidation of Chinese product patent (Patent No. 1143966).
Annual Minimum Royalties. COMPANY will pay to Licensors minimum annual non-refundable royalty payments in the amount of **** US Dollars ($****) per calendar year commencing after the **** anniversary of the first commercial sale of a Licensed Product (“Annual Minimum Royalty”), if such Annual Minimum Royalty is greater than the Earned Royalties for all Licensed Products for such financial year. If in any year during the Term the aggregate amount of the Earned Royalty payments made during such year is less than the applicable Annual Minimum Royalty for such year (a “Shortfall”), then COMPANY shall make an additional payment to Licensors in the amount of the Shortfall together with the fourth quarter Earned Royalty payment for such year. As an example, if COMPANY’s annual royalty, which is paid quarterly to OMRF, totals $**** in the year Annual Minimum Royalty commences, COMPANY will pay the Shortfall of $**** from its Annual Minimum Royalty in the first quarter of the following year along with the Earned Royalty payment for that quarter.
Annual Minimum Royalties. In the event that in the *** or any Fiscal Year thereafter during the Term, the sum of Chugai's total annual royalty payments to MBI pursuant to Section 5.3 above with respect to sales of the *** for such Fiscal Year plus the total amount, if any, paid by Chugai pursuant to Section 5.4 above for the purchase of *** from MBI (such sum shall be the "Payment Sum") is less than the annual minimum payment set forth opposite such Fiscal Year below (the "Annual Minimum"), Chugai shall pay to MBI the *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission.
Annual Minimum Royalties. Starting January 1, 2007, and each year thereafter Licensee shall pay to Licensor a royalty prepayment of $1,000 per month creditable against royalties accruing. If actual monthly royalties are greater than $1,000, no payment shall be made.
