Common use of Royalty Due Dates Clause in Contracts

Royalty Due Dates. All royalties provided for by this License Agreement shall be due and Payable within thirty days after completion of each device or system covered by the present agreement, and LICENSEE agrees to pay to LICENSOR or his designee Within the thirty day period, time being of the essence, the total amount of royalties due and payable on account of its operations under this Agreement. Should any royalty payment(s) be late, additional interest charges of ONE POINT FIVE (1.5%) percent per month shall be immediately paid by LICENSEE.

Royalty Due Dates. All royalties provided for by this License Agreement shall be due and Payable within thirty days after completion of each device or system covered by the present agreement, and LICENSEE agrees to pay to LICENSOR or his designee Within the thirty day period, time being of the essence, the total amount of royalties due and payable on account of its operations under this Agreement. Should any royalty payment(s) be late, additional interest charges of ONE POINT FIVE one point five (1.5%) percent per month shall be immediately paid by LICENSEE.