Royalty Buydown Sample Clauses

Royalty Buydown. Lessee shall have the right to buy down the production royalty payable under the provisions of this Article 4 for the following amounts: First one percent (1.0%) two million dollars ($2,000,000) The remaining two percent (2.0%) production royalty on gold, silver, platinum, or palladium shall not be purchasable by Lessee. The one percent (1.0%) royalty applicable to all other minerals shall not be purchasable by Lessee.
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Royalty Buydown. Owner and Lessee agree that the Lease shall be amended to add the following new Section 1.6:
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Royalty Buydown. Owner hereby grants to Lessee the option to purchase up to two “points” of Owner’s reserved royalty on produc-tion, each “point” being equal to one percent (1%) of net smelter returns. The purchase price shall be ONE MILLION DOLLARS ($1,000,000.00) per point. At any time while this Agreement is in effect, Lessee may give written notice to Owner of its intention to purchase one or two points. Within thirty (30) days thereafter, Lessee shall deliver a check for $1,000,000.00 or $2,000,000.00, as the case may be, to Owner, and Owner shall execute a “Relinquishment of Royalty Interest” reflecting the purchase of one or two points. However, the parties agree that Owner’s reserved production royalty shall never drop below one percent (1%) of net smelter returns, regardless of the price of gold. By way of example, suppose that Lessee has purchased two royalty points from Owner, and the price of gold then declines to $250.00. In accordance with Section 1.3 of the Lease, Owner’s royalty would then be 2% of net smelter returns. Despite the fact that Owner’s royalty is effectively “zero” (2% NSR less the two points previously purchased by Lessee), Lessee would pay Owner a 1% royalty on net smelter returns.
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Royalty Buydown. The term "Royalty Buydown" shall have the meaning --------------- set forth in Section 5.3. ROYALTY BUYDOWN OPTION. The term "Royalty Buydown Option" shall ------------------------- have the meaning set forth in Section 5.3.
Sample 1
Royalty Buydown. (a) The LLC shall have the option (the "Royalty Buydown Option") as ----------------------- set forth below, based on the stage of development (the "Option Stage") of the ------------ first Antibody Product and first Vaccine Product, respectively, to reach such Option Stage, to pay to CYTOGEN the amount indicated below, to prospectively relieve the LLC of the financial obligation to pay any royalties on Annual Net Sales of all Antibody Products and Annual Net Sales of all Vaccine Products, respectively (the "Royalty Buydown"): --------------- -------------------------------------------------------------------------------- Option Stage Antibody Vaccine ------------ -------- ------- Product Product ------- ------- -------------------------------------------------------------------------------- Prior to [**] $[**] $[**] -------------------------------------------------------------------------------- Upon and following [**] $[**] $[**] -------------------------------------------------------------------------------- Upon and following [**] $[**] $[**] -------------------------------------------------------------------------------- Upon and following [**] $[**] $[**] --------------------------------------------------------------------------------
Sample 1
Royalty Buydown. SALUS, in its sole discretion, shall have the right, on one or more occasions, to decrease the Royalty rate by paying PARI [*] for each decrease in the Royalty rate by [*]. SALUS shall make such payment to PARI in a lump sum payment. SALUS shall not have the right to decrease the Royalty rate below [*]. The minimum royalty amounts due by SALUS shall automatically decrease in proportion to the percentage of decrease in the Royalty rate. The decreased minimum royalty amounts shall be calculated by multiplying the percentage of decrease in the Royalty rate by the minimum annual royalty amounts provided in Section 6.10.2(a). The product of such calculation shall be the decreased minimum royalty amounts due by SALUS. The decreased Royalty rate and decreased minimum annual royalty amounts shall be effective upon SALUS’ payment to PARI of the lump sum payment provided in this Section. [*]
Sample 1
Royalty Buydown. (a) The LLC shall have the option (the “Royalty Buydown Option”) as set forth below, based on the stage of development (the “Option Stage”) of the first Antibody Product and first Vaccine Product, respectively, to reach such Option Stage, to pay to CYTOGEN the amount indicated below, to prospectively relieve the LLC of the financial obligation to pay any royalties on Annual Net Sales of all Antibody Products and Annual Net Sales of all Vaccine Products, respectively (the “Royalty Buydown”): [*] CONFIDENTIAL TREATMENT REQUESTED CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION Option Stage Antibody Product Vaccine Product Prior to [*]. $[*] $[*] Upon and following [*] $[*] $[*] Upon and following [*] $[*] $[_] Upon and following [*] $[*] $[*]
Sample 1
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Royalty Buydown. Mpex, in its sole discretion, shall have the right, on one or more occasions, to decrease the Actual Royalty Rates through the mechanism described in this Section 6.6, to not less than: (i) [***] percent ([***]%) of the Stated Royalty Rates, except (x) the [***] percent ([***]%) set forth in Section 6.1(b) may be further decreased to [***] percent ([***]%) if such decrease is requested by Mpex prior to the First Commercial Sale of the respective Drug Product, (y) the [***] percent ([***]%) set forth in Sections 6.2.1 (b) and 6.2.2(b) may not be decreased through the mechanism of this Section 6.6, and (z) the royalty rate set forth in Section 7.1(c)(i)(y) may be so decreased to [***] percent ([***]%) if such decrease is requested by Mpex prior to First Commercial Sale of the respective Drug Product (the minimum royalty rates set forth in clauses (i) and (x) through (z), the “Royalty Buydown Floor”). As used herein, the “Actual Royalty Rates” means the royalty rates payable by Mpex for the different categories of Drug Products and Licensed Configurations, having taken into account the adjustments of Section 6.4 and any other applicable royalty adjustments under this Agreement. “Stated Royalty Rates” means the royalty rates set forth in Sections 6.1, 6.2.1, 6.2.2 and 7.1(c)(i)(y), and without taking into account any other applicable adjustments to royalties. In the event that after the Net Present Value has been determined under this Section 6.6, and the assumed Actual Royalty Rates for purposes of such calculation are further adjusted due to the application of Sections 4.4, 6.4(a), 6.4(b), 6.4(c), 6.4(d) or other adjustments, Mpex shall retain the full benefit of the Net Present Value that it has already paid (i.e., the reduction in royalty rates purchased under this Section 6.6 shall apply after such adjustments), provided that if as a result, the Actual Royalty Rates would go below the Royalty Buydown Floor, Mpex shall instead receive [***] hereunder for the portion of the Net Present Value which it was unable to apply to decrease the royalties (calculated on a pro-rata basis, based on the proportion of the purchased royalty buydown unable to be applied because it would result in the Actual Royalty Rates falling below the Royalty Buydown Floor, and the remaining duration of the Projected Royalty Period).
Sample 1

Related to Royalty Buydown

  • Royalty Payment In partial consideration of the grant of rights to Schering by ICN under this Agreement, Schering shall pay ICN a royalty in the following amount:

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

  • Royalty Stacking If COMPANY or an AFFILIATE or SUBLICENSEE is legally required to pay royalties to one or more third parties, in order to obtain a license or similar right necessary to practice the PATENT RIGHTS, and COMPANY, AFFILIATE or SUBLICENSEE actually pays said third party royalties, COMPANY may offset a total of **** of such third-party payments against any royalty payments that are due to THE PARTIES in the same REPORTING PERIOD; provided, however, that in no event shall the royalty payments under this section, when aggregated with any other offsets and credits allowed under the AGREEMENT, be reduced below **** of the running royalty for such a LICENSED PRODUCT, DISCOVERY PRODUCT and/or THERAPEUTIC PRODUCT in any REPORTING PERIOD; provided, further, that COMPANY also make best efforts to require such third parties to offset its royalties as a result of royalties payable to THE PARTIES for the Patent RIGHTS by at least the same amount as THE PARTIES has offset its royalties under this Section. For purposes of clarity, third parties may include THE PARTIES.

  • Single Royalty Notwithstanding anything herein to the contrary, with respect to any Licensed Product only a single royalty payment shall be due and payable, regardless if such Licensed Product is covered by more than one Valid Patent Claim or contains more than one component Covered by a Valid Patent Claim.

  • Royalty Fee The Licensee agrees to pay AmericaTowne a monthly fee equal to 7.5% of its Gross Retail Sales (the "Royalty Fee").

  • Royalty Floor Notwithstanding the foregoing, during any Calendar Quarter in the Royalty Term for a Licensed Product in a particular region in the Territory, the operation of Section 9.3(c), individually or in combination shall not reduce the final royalty rate to [***].

  • Royalty 8.1 In consideration of the rights granted under clause 2, the Licensee shall pay to the Licensor royalties, on each twelve month time period, first calculated from the date of execution of this Agreement, and calculated on a scale as follows:

  • Royalty Fees In further consideration of the distribution rights and related rights granted by Shengqu to the Licensees hereunder, the Licensees shall pay to Shengqu a royalty fee equal to 35% of revenues on a monthly basis.

  • Royalty Rate Royalties shall be computed at the rate of six percent (6%) of Licensee's Net Sales during the applicable quarterly period.

  • Production Royalty The amount of the Royalty shall be determined at the end of each month after the Effective Date. The Royalty shall be determined monthly on the basis such that payments will be determined as of and paid within thirty (30) days after the last day of each month during which Lessee produces any Geothermal Resources. The Royalty rates shall be determined as follows:

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