Common use of Guaranteed Minimum Royalties Clause in Contracts

Guaranteed Minimum Royalties. Licensee shall pay to MSK minimum annual royalties of [***] until [***]; provided that for as long as Licensee [***], such obligation to pay such minimum annual royalties shall not be applicable. Each such minimum annual royalties payment shall be creditable against earned royalties for the same annual period actually owed by Licensee to MSK under Section 5.1(b) based on sales during such period after such payment. For clarity, [***].

Guaranteed Minimum Royalties. Licensee shall pay to MSK minimum annual royalties of [***[ * ] on the [ * ] anniversary of the Effective Date and on each subsequent anniversary until [***][ * ] ; provided that for as long as Licensee [***][ * ] , such obligation to pay such minimum annual royalties shall not be applicable. Each such minimum annual royalties payment shall be creditable against earned royalties for the same annual period actually owed by Licensee to MSK under Section 5.1(b) based on sales during such period after such payment. For clarity, [***].

Guaranteed Minimum Royalties. Licensee shall pay to MSK minimum annual royalties of [***[ * ] on the [ * ] anniversary of the Effective Date and on each subsequent anniversary until [***[ * ]; provided that for as long as Licensee [***[ * ], such obligation to pay such minimum annual royalties shall not be applicable. Each such minimum annual royalties payment shall be creditable against earned royalties for the same annual period actually owed by Licensee to MSK under Section 5.1(b) based on sales during such period after such payment. For clarity, [***].

Guaranteed Minimum Royalties. Licensee shall pay to MSK minimum annual royalties of [**] on the [*] anniversary of the Effective Date and on each subsequent anniversary until [***]; provided that for as long as Licensee [***], such obligation to pay such minimum annual royalties shall not be applicable. Each such minimum annual royalties payment shall be creditable against earned royalties for the same annual period actually owed by Licensee to MSK under Section 5.1(b) based on sales during such period after such payment. For clarity, [***].