Annual Minimum Royalty. (a) Subject to Section 3.3(b), if Acorda’s annual Earned Royalties payment for the Royalty-Bearing Product to Foundation pursuant to Section 3.2 after the first full calendar year anniversary following the date of Regulatory Approval for the Royalty-Bearing Product, or in any calendar year thereafter, is less than [**] (the “Minimum Royalty”), Acorda shall make or cause to be made a payment to Foundation within sixty (60) days after the end of such applicable calendar year equal to the difference between the Minimum Royalty and the total Earned Royalties payment to Foundation for all Royalty-Bearing Products for that calendar year, together with the applicable report in accordance with Article 4.
Annual Minimum Royalty. For the first four (4) calendar quarter period (“Year of Sales”) beginning 180 days after the First Commercial Sale of a Drug Product for use with the Device by Transave, its Affiliates and/or Sublicensees, and for each successive Year of Sales thereafter during the Royalty Term, at the time of its last payment of royalties for the last calendar quarter in such Year of Sales under Section 9.2 above, Transave shall pay PARI the difference, if any, between the royalties actually paid in such Year of Sales and the Annual Minimum Royalty (the “Minimum Royalty Payment”). [***]
Annual Minimum Royalty. For the period commencing on the date hereof through December 31, 2006 (the "Initial Period"), Licensee agrees to pay or have paid to Spectra a minimum royalty of [***]. Payment for or on account of royalties for the Initial Period shall be made by April 15, 2004. In so far as any royalty payment made by April 15, 2004 is in advance this advance payment shall be credited against obligations to pay royalties on sales made up to and including December 31, 2006 pursuant to Section 5.2. In so far as royalties due under Section 5.2 fall short of the minimum royalty for the Initial Period then in discharge of the Licensee's obligation Spectra shall retain the initial payment made by April 15, 2004. For subsequent years, the minimum royalty shall be as follows: [***] for the calendar year 2007; [***] for the calendar year 2008; [***] for the calendar year 2009; and [***] for the calendar year 2010. The minimum annual royalty for subsequent years shall thereafter increase annually over the prior year's dollar amount, based upon the then most recent Consumer Price Index for the Boston metropolitan area, as published by the United States Bureau of Labor Statistics. Once Licensee [*] = Information redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. pays royalties of [***] (the "Target Royalty") in or in respect of any given year, all future annual minimum royalties shall be deemed achieved and paid. If the minimum royalty is not achieved in any period by the payment of royalties pursuant to Section 5.2, Licensee shall have the option to top this up by a payment, to be made by the Licensee to Spectra by no later than January 31st of the immediately following calendar year an amount equal to the minimum royalty less the amount of royalties actually paid during the course of the preceding period pursuant to Section 5.2; however, the amount of such cash payment used to achieve a minimum royalty shall not be counted towards the achievement of the Target Royalty.
Annual Minimum Royalty. Commencing with the calendar year in which Xtent Stents first receive a XX-Xxxx, FDA or MHLW approval and for each calendar year thereafter so long as this Agreement remains in force and effect, Xtent shall [*] provided that in the first year after such approval, the Minimum Annual Royalty will be prorated for the number of months during which such approval is effective. In the event that in any calendar year the royalties paid for such year are [*] then Occam shall provide written notice to Xtent of the shortfall. Xtent may pay Occam the amount of the shortfall within forty (40) days after such notice; if Xtent does not pay the amount of the shortfall, then Occam may terminate this Agreement and the licenses granted hereunder upon twenty (20) days' additional written notice to Xtent.
Annual Minimum Royalty. Licensee will pay Licensor the difference between the amount of the total Running Royalty plus Sublicensing Royalties and the Annual Minimum Royalty in the event that the Running Royalty due under Paragraph B plus the Sublicensing Royalties due under Paragraph F together do not equal or exceed the Annual Minimum Royalty set out in the table below. Accounting Period Annual Minimum Royalty 1 Zero U.S. Dollars ($0.00) 2 Zero U.S. Dollars ($0.00) 3 Zero U.S. Dollars ($0.00) 4 Twenty Thousand U.S. Dollars (US$20,000) 5 Twenty Thousand U.S. Dollars (US$20,000) 6 and each Accounting Seventy Thousand U.S. Dollars (US$70,000) Period thereafter [***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. A percentage of the Annual Minimum Royalty paid by Licensee under this Agreement will be attributed to the Annual Minimum Royalty for the PLA-1669 License.
Annual Minimum Royalty. In the event that the Royalties paid in any full calendar year after the first commercial sale of a Licensed Product do not reach the minimum amount set out below for such year, then within […***…] days after the end of such full calendar year LICENSEE shall pay an additional amount for the period ending December 31 of such year, so that the total amount paid to BCM under Section 4.4 and this Section 4.5 for such year shall reach such minimum amount:
Annual Minimum Royalty. Licensee shall pay to BP twenty percent (20%) of the annual minimum royalty due from BP to KGSI under Section 4(a) of the KGSI Agreement.
Annual Minimum Royalty. Beginning with the first full calendar year of sales of Licensed Product in the United States and for two years thereafter, Licensee will pay Licensor an Annual Minimum Royalty payment of $100,000 against which any Royalty on Net Sales paid in the same calendar year for sales in the United States will be credited. Subject to Section 10.3, beginning with the first full year of sales of Licensed Product outside of the United States (“Non U.S.”) and for two years thereafter, Licensee will pay Licensor an Annual Minimum Royalty payment of $100,000 against which any Royalty on Net Sales paid in the same calendar year for sales outside the United States will be credited. The Annual Minimum Royalty for a given year will be due at the time payments are due for the calendar quarter ending on December 31. The Annual Minimum Royalty due on sales made in the United States will be paid to Foundation and Annual Minimum Royalty due on sales made outside of the United States will be paid to Xxxxxx and Xxxxxxxx.
Annual Minimum Royalty. Commencing with the calendar year 2005 and for each calendar year thereafter so long as this Agreement remains in force and effect, Devax shall pay a minimum annual royalty to Occam in the sum of [***] (the “Minimum Annual Royalty”). In the event that in any calendar year the [***] royalties payable for such year are [***], then the shortfall for that year shall be payable to Occam on or before the due date for the royalties for the last quarter of such calendar year.
Annual Minimum Royalty. Commencing on January 1, 1998 and for each calendar year during the term of this Agreement, Purchaser agrees to make a payment to Supplier together with its quarterly report activities as required herein, equal to the difference between the Annual Minimum Payment indicated below, and the total of the running royalty and other fees paid to Supplier during the Calendar year. The payments will be made within forty-five (45) days of the close of each quarterly period. Calendar Year Annual Minimum 1/1/98 - 12/31/98 $75,000 1/1/99 - 12/31/99 $150,000 1/1/2000 - 12/31/2000 $200,000 1/1/2001 - 12/31/2001 $250,000 1/1/2002 - 12/31/2002 $300,000 1/1/2003 - 12/31/2003 $400,000 1/1/2004 - 12/31/2004 $500,000 1/1/2005 - 12/31/2004 $600,000 1/1/2006 - 12/31/2006 $700,000 1/1/2007 - 12/31/2007 $800,000 1/1/2008 - 12/31/2008 $1,000,000
