APPLICABLE ROYALTIES Sample Clauses
APPLICABLE ROYALTIES. In exchange for the license granted by the OP3FT to the Operator of the Frogans Core Registry for the technical and commercial operation of the Frogans Core Registry, the Operator undertakes to pay the OP3FT monthly royalties, in euros, equal to the greater of the following: • 15% (fifteen percent) of the total amount in euros, excluding value-added tax (VAT), of the Frogans Core Registry addressing services invoiced, during the month, by the Operator to the FCR Account Administrators, or • 150,000 (one hundred and fifty thousand) euros. Thus, for example, in the absence of Frogans Core Registry addressing services invoiced by the Operator over the course of a month, or if the total amount in euros, excluding VAT, for addressing services invoiced is less than or equal to 1,000,000 (one million) euros during a month, then the total amount of the royalties due to the OP3FT for this month shall be equal to 150,000 (one hundred and fifty thousand) euros. Likewise, if the total amount in euros, excluding VAT, for addressing services invoiced by the Operator is equal to 5,000,000 (five million) euros during a month, then the total amount of the royalties due to the OP3FT for this month shall be equal to 750,000 (seven hundred and fifty thousand) euros. It is expressly agreed between the Parties that the percentage corresponding to the monthly royalties cannot be adjusted downwards, and that the 15% (fifteen percent) percentage is the guaranteed minimum. The Parties agree that the Operator shall pay the OP3FT a fixed amount set at 150,000 (one hundred and fifty thousand) euros on the date of entry into force of the Agreement, and that the monthly royalties shall be due as from the actual commencement of activity of the OP3FT, including the setting-up of its work teams in its premises. During the period preceding the commercialization of the Frogans Core Registry addressing services, which must take place before the end of the year 2012, the monthly royalties shall be 150,000 (one hundred and fifty thousand) euros.
APPLICABLE ROYALTIES. InnovaCOM shall pay to FutureTel a royalty in the percentage specified below for the applicable year on the total amount paid by InnovaCOM to any Foundry or other silicon source for any silicon (excluding taxes, shipping, delivery, and/or handling charges) (the "Foundry Price") in connection with a Covered Order. Specifically, for all Covered Orders, InnovaCOM shall: pay to FutureTel 20% of the Foundry Price for any Covered Orders during Year 1; 15% of the Foundry Price for any Covered Orders during Year 2; 8% of the Foundry Price for any Covered Orders during Year 3; 5% of the Foundry Price for any Covered Orders during Year 4: 3% of the Foundry Price for any Covered Orders during Year 5; 1% of the Foundry Price for any Covered Orders during Year 6; and 1% of the Foundry Price for any Covered Orders during Year 7, as follows: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 20% 15% 8% 5% 3% 1% 1% In the event that the Foundry Price for any silicon cannot be determined, InnovaCOM shall pay the foregoing royalty percentages on the Gross Revenues which will be due to InnovaCOM from sublicenses of GECKO Products made using such silicon; provided however, that such Gross Revenues shall be deemed to accrue on the date InnovaCOM orders the silicon, and shall be based on InnovaCOM's list price for the applicable GECKO Products in effect as of the order date.
APPLICABLE ROYALTIES. InnovaCOM shall pay to FutureTel a royalty in the percentage specified below for the applicable year on the Gross Revenues received by InnovaCOM in connection with the applicable Covered Transaction during that year, until the expiration of Year 7 as defined below. Specifically, for all Covered Transactions, InnovaCOM shall pay to FutureTel 20% of the Gross Revenues received by InnovaCOM in connection with such transaction during the one-year period following the date of this Agreement ("Year 1"); 15% of the Gross Revenues received by InnovaCOM in connection with such transaction during the one-year period following Year 1 ("Year 2"); 8% of the Gross Revenues received by InnovaCOM in connection with such transaction during the one-year period following Year 2 ("Year 3"); 5% of the Gross Revenues received by InnovaCOM in connection with such transaction during the one-year period following Year 3 ("Year 4"); 3% of the Gross Revenues received by InnovaCOM in connection with such transaction during the one-year period following Year 4 ("Year 5"); 1% of the Gross Revenues received by InnovaCOM in connection with such transaction during the one-year period following Year 5 ("Year 6"); and 1% of the Gross Revenues received by InnovaCOM in connection with such transaction during the one-year period following Year 6 ("Year 7"), as follows: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 20% 15% 8% 5% 3% 1% 1%
APPLICABLE ROYALTIES. InnovaCOM shall pay to FutureTel a royalty in the percentage specified below for the applicable year on the Gross Revenues received by InnovaCOM in connection with the applicable OKI Covered Transaction during that year, until the expiration of Year 7. Specifically, for all OKI Covered Transactions, InnovaCOM shall pay to FutureTel 10% of the Gross Revenues received by InnovaCOM in connection with such transaction during Year 1; 10%k of the Gross Revenues received by InnovaCOM in connection with such transaction during Year 2; 8% of the Gross Revenues received by InnovaCOM in connection with such transaction during Year 3; 5% of the Gross Revenues received by InnovaCOM in connection with such transaction during Year 4: 3% of the Gross Revenues received by InnovaCOM in connection with such transaction during Year 5; 1% of the Gross Revenues received by InnovaCOM in connection with such transaction during Year 6; and 1% of the Gross Revenues received by InnovaCOM in connection with such transaction during Year 7, as follows:
APPLICABLE ROYALTIES. To the extent that any sale of a product by Molecular Partners is subject to two or more royalties under this Agreement, the MP0260 Agreement, and/or the MP0112 Agreement, only the royalty which would result in the highest payment to Allergan will apply.