Consideration Royalties Clause Samples
The Consideration; Royalties clause defines the financial compensation that one party must provide to the other, typically in the form of royalties, for the use of certain rights, products, or intellectual property. This clause outlines how royalties are calculated, the frequency and method of payment, and may specify minimum payment thresholds or reporting requirements. Its core function is to ensure both parties have a clear understanding of the payment structure, thereby reducing the risk of disputes over compensation and ensuring fair remuneration for the rights granted.
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Consideration Royalties. At all times, including from and after the Closing, Purchaser or its Affiliates shall retain, pay and discharge as and when due and be responsible for all Liabilities, if any, in respect of, or arising out of (x) ownership of the Consideration Royalties and Consideration Royalty Agreements by Purchaser, its Affiliates or their predecessors in interest prior to the Closing Date, or (y) ownership of the Mineral Properties at any time subject to the Consideration Royalties, including any fixtures and improvements situated thereon, by Purchaser, its Affiliates or their predecessors in interest, and the conduct by Purchaser, its Affiliates or their predecessors in interest of any activity or operation thereon (the “Purchaser Retained Liabilities”).
Consideration Royalties. In consideration of the grant in Paragraph 2.1 above, BIOSIGNAL hereby agrees to make the following payments to VANDERBILT:
3.1 Within thirty (30) days of the execution of this Agreement, BIOSIGNAL agrees to pay VANDERBILT within ninety (90) days of the receipt of the MATERIAL by BIOSIGNAL, a 4 of 16 VANDERBILT UNIVERSITY OPTICAL ASSAY AGREEMENT nonrefundable license issue fee of [* * *].
3.2 BioSignal will pay to Vanderbilt a royalty rate of [* * *] on the Net Sales of LICENSED PRODUCTS and SERVICES from independent third parties, sold by BIOSIGNAL or its sublicensees.
3.3 In order to maintain the exclusive license, beginning one year after first commercial sale of Licensed Products or Services, BIOSIGNAL shall pay to Vanderbilt annual minimum royalties of [* * *] which shall be creditable against earned royalties in the same year for which the minimum is paid.
3.4 BIOSIGNAL shall pay Vanderbilt [* * *] of any up front license fees, other than royalty on sales, received for sublicensing the rights to independent third parties for internal use.
3.5 BioSignal will pay all of the costs incurred in filing for Patent protection of the ▇▇▇▇ technology in the United States (USA) and Canada estimated at fifteen thousand US dollars ($15,000). Vanderbilt shall be provided copies of all official communications, amendments and responses with respect to patent applications and patents sufficiently prior to filing to allow for review, comment and approval by Vanderbilt, which will not be unreasonably withheld.
3.6 All payments required under this agreement shall be in U.S. dollars, and shall be made by check or bank draft and made payable to VANDERBILT. All such payments shall be sent to the following address: Office of Technology Transfer, at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇., ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇.
3.7 If BIOSIGNAL desires to offer for sale a LICENSED PRODUCT or SERVICE in combination with other of its products and/or services (`COMBINATION PRODUCT" or "COMBINATION SERVICE"), it shall notify VANDERBILT and describe in sufficient detail the nature and composition of the COMBINATION PRODUCT or COMBINATION SERVICE in order that the parties may in good faith determine a reasonable royalty share of such transactions.
Consideration Royalties. 7.1 As and for consideration for entering into this Lease, Sterling shall immediately deliver 30,000 shares of Sterling’s restricted common Shares to Mineral Mountain.
7.1.1 Mineral Mountain hereby grants to Sterling, during the term of this Lease, an option to purchase up to One Million (1,000,000) shares of Mineral Mountain’s restricted common stock for Fifty Cents (.50¢) per share. Sterling may exercise this option by providing five (5) days written notice to Mineral Mountain of its intent to purchase.
7.2 Sterling shall pay the following advance royalties to Mineral Mountain:
7.2.1 Commencing on the Effective Date and annually thereafter an Advance Royalty of Three Thousand Six Hundred Dollars ($3600.00) per year until such time as Net Profits Royalties are payable.
7.2.2 Advance Royalties shall terminate at the time Mineral Mountain commences to receive Net Profit Royalties, as provided in Section 7.3 or Section 7.4, unless such Net Profit Royalty is less that the amount of the Advance Royalty provided for herein, and in that event the Advance Royalty shall be the difference between the Advance Royalty amount and the Net Profit Royalty payable.
Consideration Royalties. From and after the Closing, Barrick shall assume and be responsible for the satisfaction, discharge, fulfillment, observance, performance and payment of all Liabilities whatsoever in respect of, or arising out of the ownership of, the Consideration Royalties on or after the Closing Date and the Consideration Royalty Agreements on or after the Closing Date (other than the Purchaser Retained Liabilities).
Consideration Royalties. 7.1 As and for consideration for entering into this Lease, Sterling shall immediately deliver 50,000 shares of Sterling’s restricted common Shares to ▇▇▇▇▇▇▇.
7.1.1 On the first anniversary date of this Lease and annually thereafter during the tenor of this Lease, Sterling shall deliver 50,000 Shares of Sterling restricted common Stock to ▇▇▇▇▇▇▇.
7.1.2 ▇▇▇▇▇▇▇ hereby grants to Sterling, during the term of this Lease, an option to purchase up to Two Hundred Thousand (200,000) shares of Chester’s restricted common stock for One Dollar ($1.00) per share. Sterling may exercise this option by providing five (5) days written notice to ▇▇▇▇▇▇▇ of its intent to purchase. This option shall be exercisable by Sterling for a period of eighteen (18) months form the Effective Date.
7.2 Sterling shall pay the following advance royalties to ▇▇▇▇▇▇▇:
7.2.1 Commencing on the Effective Date and monthly thereafter an Advance Royalty of Six Hundred Dollars ($600.00) per month until such time as Net Returns or Net Profits Royalties are payable.
7.2.2 Advance Royalties shall terminate at the time ▇▇▇▇▇▇▇ commences to receive Net Returns or Net Profit Royalties, as provided in Section 7.3 or Section 7.4, unless such Net Returns or Net Profit Royalty is less that the amount of the Advance Royalty provided for herein, and in that event the Advance Royalty shall be the difference between the Advance Royalty amount and the Net Returns or Net Profit Royalty payable.
Consideration Royalties. In consideration of the non-exclusive license granted herein by Licensor, Licensee shall pay to Licensor:
4.1 Initial Payment: the payment will be in the form of a 51% shareholding in Sprocket HK (Company Number 2208869) to the mutually agreeable corporate memorandum of understanding, to be attached as Exhibit C and made a part hereof.,
Consideration Royalties