Timing and Computation. Until the first year in which aggregate Net Revenues reach $[***], royalty payments shall be paid annually within [***] ([***]) days following the end of the calendar year. Thereafter all royalties hereunder (except for license issue fee and annual minimum royalties) shall be computed on a quarterly basis for the quarters ending March 31st, June 30th, September 30th, and December 31st of each calendar year. Royalties for each such quarter shall be due and payable within [***] ([***]) months after the end of such quarter. The royalty payment for the quarter ending December 31st shall be adjusted as necessary to resolve any over- or underpayment in the preceding three quarters, based on actual Net Sales for the year.
Appears in 4 contracts
Samples: License Agreement, License Agreement (Homology Medicines, Inc.), License Agreement (Homology Medicines, Inc.)
