Common use of Royalty Payments and Reporting Clause in Contracts

Royalty Payments and Reporting. 4.1 Royalty payments from MSP to LICENSOR shall be made monthly within fifteen (15) days after the end of each calendar month for which royalty payments are due following the Effective Date with seventy-five (75) percent of the respective royalty payment paid to XXXXXXX and twenty-five (25) percent paid to XXXXXXXXX. Royalty payments for each calendar month period shall be based on Net Sales of those Licensed Services invoiced by MSP during that period. All such payments shall be accompanied by a full and complete report detailing the computation of the royalty payment. Payments shall be made in U S. Dollars. For purposes of computing royalties payable hereunder, amounts in currencies other than U.S. Dollars will be converted into U S Dollars using as a rate of exchange for such payments the midpoint between the buying and selling rate for U S Dollars as quoted by Texas Commerce Bank in Houston. Texas (or any other bank agreeable to the parties should this bank cease operations) at the close of business on the last business day of the calendar month for which royalties are due.

Royalty Payments and Reporting. 4.1 Royalty payments from MSP to LICENSOR shall be made monthly within fifteen (15) days after the end of each calendar month for which royalty payments are due following the Effective Date with seventy-five (75) percent of the respective royalty payment paid to XXXXXXX and twenty-five (25) percent paid to XXXXXXXXX. Royalty payments for each calendar month period shall be based on Net Sales of those Licensed Services invoiced by MSP during that period. All such payments shall be accompanied by a full and complete report detailing the computation of the royalty payment. Payments shall be made in U U. S. Dollars. For purposes of computing royalties payable hereunder, amounts in currencies other than U.S. Dollars will be converted into U S Dollars using as a rate of exchange for such payments the midpoint between the buying and selling rate for U S Dollars as quoted by Texas Commerce Bank in Houston. Texas (or any other bank agreeable to the parties should this bank cease operations) at the close of business on the last business day of the calendar month for which royalties are due.