Royalties on Net Receipts Sample Clauses
The 'Royalties on Net Receipts' clause defines how royalties are calculated and paid based on the net income received from the exploitation of a product, service, or intellectual property. Typically, this clause specifies that royalties are determined after deducting certain allowable expenses, such as taxes, shipping, or production costs, from gross receipts. By basing payments on net rather than gross receipts, the clause ensures that the royalty recipient is compensated fairly while accounting for the actual profits generated, thereby aligning the interests of both parties and providing a clear, equitable method for royalty calculation.
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Royalties on Net Receipts. In accordance with clause 4.1, the Licensee shall pay to the Licensor a royalty being the relevant percentage of Net Receipts as set out in Schedule 1.
Royalties on Net Receipts. The Licensee shall pay to the RPO a royalty of [●] per cent ([●]%) of Net Receipts.]
Royalties on Net Receipts. During the applicable Royalty Term, the Licensee shall pay to UCLB a royalty on Net Receipts in respect of each Licensed Product as follows:
(a) Subject to paragraph (d), a royalty of 30% of Net Receipts where the sub-licence agreement (or related agreement) under which the relevant Net Receipts become due is first executed prior to Completion of the first Phase I study of such Licensed Product; or
(b) Subject to paragraph (d), a royalty of 25% of Net Receipts where the sub-licence agreement (or related agreement) under which the relevant Net Receipts become due is first executed after Completion of the first Phase I study of such Licensed Product, but prior to Completion of the first Phase II study of such Licensed Product; or
(c) Subject to paragraph (d), a royalty of 20% of Net Receipts where the sub-licence agreement (or related agreement) under which the relevant Net Receipts become due is first executed after Completion of the first Phase II study of such Licensed Product; but
(d) Where any royalties to be paid under paragraphs (a) to (c) above are in respect of Net Receipts obtained from the sale of Licensed Product(s) by the sub-licensee, the amount of royalty that the Licensee shall pay UCLB in respect of each such sale shall in no event be less than 2% of the Net Sales Value of such Licensed Product(s) when sold by the sub-licensee.
Royalties on Net Receipts. The Licensee shall pay to the Licensor a royalty of Ten percent (10.0%) of all Net Receipts received by the Licensee.
Royalties on Net Receipts. The Licensee shall pay to UCLB a royalty of [****]% ([****] percent) of Net Receipts.
Royalties on Net Receipts. The Licensee shall pay to UCLB a royalty of 15% (fifteen percent) of Net Receipts.
Royalties on Net Receipts. The Licensee shall pay to the RPO a royalty of [●] per cent ([●]%) of Net Receipts.] [Non-monetary consideration; referral to expert. Where the Licensee accepts Net Receipts in the form of shares in a sub-licensee or other non-monetary receipts, the Licensee shall pay the royalty due under this Agreement to the RPO on such Net Receipts by determining the equivalent cash value of such shares or other non-monetary receipts. If the Parties disagree as to the cash value of such shares or non-monetary receipts, such disagreement shall be referred to an independent expert who shall be appointed and act in accordance with the provisions of Schedule 2 and whose decision shall be final and binding on the Parties.] [Minimum royalties. If the royalties payable under Clause 5.4 and Clause 5.5 are less than [●] Euro (€[●]) (“Minimum Royalty”) in any calendar year, the Licensee shall pay to the RPO the amount by which such royalties are less than the Minimum Royalty within sixty (60) days of the end of such calendar year, failing which the RPO shall be entitled to terminate this Agreement and all licences granted under this Agreement by notice in writing to the Licensee given at any time after the expiry of the said sixty (60) day period. If this Agreement ends on any day other than the end of a calendar year, the Minimum Royalty due for that year shall be reduced pro-rata, i.e. the minimum amount due shall be the Minimum Royalty for a complete year multiplied by the number of days of the final calendar year during which this Agreement was in force, and divided by three hundred and sixty five (365) days.] [Payment frequency. Royalties due under this Agreement shall be paid within thirty (30) days of the end of each quarter ending on 31 March, 30 June, 30 September and 31 December, in respect of sales and other supplies of Licensed Products made and Net Receipts generated during such quarter and within thirty (30) days of the termination of this Agreement.] Payment terms. All sums due under this Agreement: are exclusive of Value Added Tax which where applicable will be paid by the Licensee to the RPO in addition; shall be paid in Euro in cash by transferring an amount in aggregate to the following account number [●], sort code [●], account name [●], held with [●] Bank plc, [address], and in the case of sales or sub-licence income received by the Licensee in a currency other than Euro, the royalty shall be calculated in the other currency and then converted into equivalen...
Royalties on Net Receipts