Fees Royalties and Payment Clause Samples
The 'Fees, Royalties and Payment' clause defines the financial obligations between the parties, specifying how and when payments such as fees and royalties are to be made. It typically outlines the amounts due, the schedule for payments, acceptable payment methods, and any conditions for adjustments or late fees. This clause ensures both parties have a clear understanding of the monetary terms, reducing the risk of disputes over compensation and providing a framework for managing financial transactions under the agreement.
Fees Royalties and Payment. 5.1 Client shall pay the Manufacturing Fee, the Service Fee and the Royalties in accordance with Schedule 2.
5.2 All amounts stated are exclusive of VAT and/or any other applicable taxes or levy, which shall be paid in addition by Client at the rate in force at the date any payment is required from Client.
5.3 If payment of any sum due under this Agreement is not received by any due date specified for that sum, BPL may charge interest on the outstanding amount at the rate of [ * ]% per annum above the base lending rate of Bank of England, accruing daily.
Fees Royalties and Payment a. Subject to the remainder of this Section 9, ▇▇▇▇▇▇▇▇▇▇▇ shall pay Columbia royalties as provided below:
(1) Licensed Product Royalties. Schrödinger shall pay Columbia “Licensed Product Royalties,” which will be calculated by multiplying the Licensed Product Royalty Rate by Gross Revenues. In pricing Multiple Product Sales, Schrödinger shall not engage in bad faith actions intended to avoid its obligations under this Section 9 or to reduce the Licensed Product Royalties.
Fees Royalties and Payment