Minimum Royalty Obligation Sample Clauses

Minimum Royalty Obligation. During the year commencing twelve (12) months from the date hereof, Operator undertakes and agrees to pay North America a total royalty of not less than US $115,000. Should Operator fail to generate sufficient royalties as per Paragraph IX A above to achieve such minimum payment, he may contribute such additional amounts so as to meet the minimum set forth herein. In meeting the minimum royalty obligation hereunder, only royalties realized from work performed within the Operator's Territory will be included in such calculation. The Operator is further obligated, beginning twenty-four (24) months from the date hereof and continuing for each and every subsequent and successive twelve (12) month period during the term of this agreement, to pay to North America, a total Royalty of not less than US $115,000 subject however, to increases or decreases of such amount as related to the Cost of Living Index as compiled by the U.S. Department of Labor for each 12 month period. Any such contribution due from the Operator to North America to meet the minimum set forth herein shall be made within 45 days after the end of each relevant 12 month period.
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Minimum Royalty Obligation. During the year commencing twelve (12) months from the date hereof, Operator undertakes and agrees to pay North America a total royalty of not less than $51,500. Should Operator fail to generate sufficient royalties as per Paragraph IX A above to achieve such minimum payment, it shall contribute such additional amounts so as to meet the minimum set forth herein. In meeting the minimum royalty obligation hereunder, only Royalties realized from work performed within the Operator's Territory will be included in such calculation. The Operator is further obligated, beginning twenty-four (24) months from the date hereof and continuing for each and every subsequent and successive twelve (12) month period during the term of this agreement, to pay to North America, a total Royalty of not less than $51,500 subject however, to increases or decreases of such amount determined in proportion to increases or decreases in the Engineering News Record Construction Cost Index as compiled by McGraw Hill Publications for each 12 month period or a comparable index should such index not be available. Any such contribution due from the Operator to North America to meet the minimum set forth herein shall be made within 45 days after the end of each relevant 12 month period. In the event of a termination of this License Agreement during the second or subsequent years thereof, Operator shall pay a pro rate minimum Royalty for the year of termination based on the number of months in which the License Agreement was in effect during such year.
Sample 1Sample 2
Minimum Royalty Obligation. The minimum Royalty to be paid for the period ending December 31, 1986 is $26,826.00. For the year ending December 31, 1987 and for each year thereafter, this minimum Royalty is $26,826.00 and shall be subject to increases or decreases in proportion to increases or decreases in the Engineering News Record Construction Cost Index as compiled by McGraw Hill Publications for each 12 month period or a comparable index should such index not be available. Sales or work outside the Operator's Territory shall not be included in the minimum royalty calculation. Should Operator fail to generate sufficient Royalties as per Paragraph IXA above to achieve such minimum payment, it shall pay such additional amounts so as to meet the minimum set forth herein. In meeting the minimum royalty obligation hereunder, notwithstanding the Agreement Letter dated July 10, 1980 between North America and Xxxxxxxxxx Xxxx, Xxx. (regarding application of excess Royalty from one territory to another) only until June 30, 1988 may Operator apply any excess Royalty over minimum from previously licensed territories towards meeting this minimum Royalty obligation. Thereafter, only Royalty realized from work performed within the Territory described on page 17 of this license agreement shall apply towards meeting this minimum Royalty obligation. Any such payment due from the Operator to INAC to meet the minimum set forth herein shall be made within 45 days after the end of each relevant December 31. In the event of a termination of this License Agreement, Operator shall pay a pro rata minimum Royalty for the year of termination based on the number of months in which the License Agreement was in effect during such year.
Sample 1

Related to Minimum Royalty Obligation

  • Minimum Royalty At the beginning of each calendar year during the term of this Agreement, beginning January 1, 2016, Company shall pay to Medical School a minimum royalty of {***}. If the actual royalty payments to Medical School in any calendar year are less than the minimum royalty payment required for that year, Company shall have the right to pay Medical School the difference between the actual royalty payment and the minimum royalty payment in full satisfaction of its obligations under this Section, provided such minimum payment is made to Medical School within sixty (60) days after the conclusion of the calendar year. Waiver of any minimum royalty payment by Medical School shall not be construed as a waiver of any subsequent minimum royalty payment. If Company fails to make any minimum royalty payment within the sixty-day period, such failure shall constitute a material breach of its obligations under this Agreement, and Medical School shall have the right to terminate this Agreement in accordance with Section 8.3.

  • Minimum Royalties If royalties paid to Licensor do not reach the minimum royalty amounts stated in Section 3.3 of the Patent & Technology License Agreement for the specified periods, Licensee will pay Licensor on or before the Quarterly Payment Deadline for the last Contract Quarter in the stated period an additional amount equal to the difference between the stated minimum royalty amount and the actual royalties paid to Licensor.

  • Royalty Payment For all leased substances that are sold during a particular month, Lessee shall pay royalties to Lessor on or before the end of the next succeeding month. Royalty payments shall be accompanied by a verified statement, in a form approved by Lessor, stating the amount of leased substances sold, the gross proceeds accruing to Lessee, and any other information reasonably required by Lessor to verify production and disposition of the leased substances or leased substances products. Delinquent royalties may be subject to late fees and penalties in accordance with Lessor’s Rules.

  • Earned Royalties GEN-PROBE shall pay to PHRI an earned royalty for each sale of a Licensed Kit. GEN-PROBE shall also pay to PHRI an earned royalty for each performance of a Licensed Assay (other than an Assay performed by a customer using a Licensed Kit). The earned royalty for each Licensed Kit and each Licensed Assay shall be determined according to the remainder of this section.

  • Earned Royalty In addition to the annual license maintenance fee, ***** will pay Stanford earned royalties (Y%) on Net Sales as follows:

  • Royalty Payments (i) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.

  • License Fees and Royalties Consistent with the applicable U.S. DOT Common Rules, the Recipient agrees that license fees and royalties for patents, patent applications, and inventions produced with federal assistance provided through the Underlying Agreement are program income, and must be used in compliance with federal applicable requirements.

  • Running Royalties Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. No multiple royalties shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A.

  • Payment of Royalties To the best of Seller’s knowledge, all royalties and in-lieu royalties with respect to the Assets which accrued or are attributable to the period prior to the Effective Time have been properly and fully paid, or are included within the suspense amounts being conveyed to Buyer pursuant to Section 11.4.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

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