Common use of Minimum Royalty Payment Clause in Contracts

Minimum Royalty Payment. The Term shall carry a royalty minimum of $12,000,000. If Licensee does not pay GE a total of at least $12,000,000 in cumulative royalties over the Term, the difference between $12,000,000 and the amount of royalties paid to GE is owed to GE by December 31, 2018.”