Annual Minimum. The annual minimum amount of Royalties owed by the Licensee under subsection 11.4.1, upon commencement of commercial sales, shall be $250,000 beginning in Year 2022; $2,000,000 beginning in year 2025; and $5,000,000 beginning in year 2027 throughout the remainder of the term.).
Appears in 1 contract
Sources: Exclusive Patent License Agreement (Oxis International Inc)
Annual Minimum. The annual minimum amount of Royalties owed by the Licensee under subsection 11.4.1, upon commencement of commercial sales, shall be $250,000 beginning in Year 2022; $2,000,000 2,000,000, beginning in year 2025; and $5,000,000 beginning in year 2027 throughout the remainder of the term.).
Appears in 1 contract
Sources: Exclusive Patent License Agreement (GT Biopharma, Inc.)
Annual Minimum. The annual minimum amount of Royalties owed by the Licensee under subsection 11.4.1, upon commencement of commercial sales, shall be $250,000 [****] beginning in Year 2022; $2,000,000 [****] beginning in year 2025; and $5,000,000 [****] beginning in year 2027 throughout the remainder of the term.).
Appears in 1 contract
Sources: Exclusive Patent License Agreement (Oxis International Inc)
Annual Minimum. The annual minimum amount of Royalties owed by the Licensee under subsection 11.4.1, upon commencement of commercial sales, shall be $250,000 ___________beginning in Year 2022; $2,000,000 ___________, beginning in year 2025; and $5,000,000 ___________beginning in year 2027 throughout the remainder of the term.).
Appears in 1 contract
Sources: Exclusive Patent License Agreement (Oxis International Inc)