Direct Royalties Sample Clauses
The Direct Royalties clause establishes the obligation for one party to pay royalties directly to another, typically based on sales, usage, or licensing of intellectual property. In practice, this clause outlines the calculation method, payment schedule, and reporting requirements for royalty payments, ensuring that the party entitled to royalties receives compensation without intermediaries. Its core function is to provide a clear and enforceable mechanism for royalty payments, reducing ambiguity and ensuring that rights holders are properly compensated for the use of their assets.
Direct Royalties. Licensee agrees to pay and shall pay to CSMC a running royalty of three and three-quarters percent (3.75%) on Net Sales of Products made, used, sold or otherwise distributed by Licensee hereunder (each, a “Direct Royalty”).
Direct Royalties. On a Reverted Product-by-Reverted Product and country-by-country basis, PTI will pay Astellas a royalty of [***] of Annual Net Sales of such Reverted Products for the period of time commencing on the date of First Commercial Sale of such Reverted Product in such country and ending on the later of (i) eleven (11) years following the First Commercial Sale of such Reverted Product in such country, (ii) the expiration of the last Valid Claim of a Collaboration Patent Right Covering such Reverted Product in such country, or (iii) the expiration of Data Protection for such Reverted Product (such period of time, the “Reverted Product Royalty Term”. After such Reverted Product Royalty Term, the Reverted Products License will become fully paid-up and perpetual (subject to termination in accordance with Article 12 (Term and Termination)). CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. Confidential
Direct Royalties