Common use of Prepaid Royalties Clause in Contracts

Prepaid Royalties. CMS will pay to NDD [*] as follows: [*] upon the execution of this Agreement; [*] within ten (10) days after completion of the technology transfer described in Appendix 1.7; and the final [*] within ten (10) days after a prototype of the Licensed Product is is demonstrated as meeting the specifications set forth in Appendix 3.2. These payments shall be non-refundable and will be credited against future royalties accrued by CMS under Section 3.1 that are in excess of the minimum amounts specified in Section 3.3.

Prepaid Royalties. CMS will pay to NDD [*] as follows: [*] upon the execution of this Agreement; [*] within ten (10) days after completion of the technology transfer described in Appendix 1.7; and the final [*] within ten (10) days after a prototype of the Licensed Product is is demonstrated as meeting the specifications set forth in Appendix 3.2. These payments This payment shall be non-refundable and will be credited against future royalties accrued by CMS under Section 3.1 that are in excess of the minimum amounts specified in Section 3.3.