TERMS OF PAYMENT OF LICENCE FEE. The Licence Fee shall be paid to the Grantor within 15 days of the end of each quarter in which the Grantee and/or any of its Subsidiaries collect Gross Revenues with respect to any American Prospect. The obligation to pay the Licence Fee shall continue following the termination of this Agreement with respect to any American Prospect for which the Licence Fee was provided by the Grantor to the Grantee on or before the effective date of such termination.
Appears in 4 contracts
Samples: Licence Agreement (Pinnacle Oil International Inc), Licence Agreement (Pinnacle Oil International Inc), Transfer Agreement (Pinnacle Oil International Inc)
