IP Revenue definition

IP Revenue means revenue related to the commercialisation and exploitation of intellectual property such as licensing fees, royalties, and other types of revenue sharing arrangements (excluding those made pursuant to the University’s Intellectual Property Policy).
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IP Revenue means: (i) the royalty payments paid or payable to EMBI or its successors or assigns under the Zor Agreement (which for greater certainty excludes any milestone payments provided for in the Zor Agreement or otherwise paid or payable by Zor), and all other income derived by EMBI or its successors or assigns from the commercialization of the IP in any part of the world not licensed exclusively to Zor; (ii) if the Zor Agreement is terminated, all other revenue or payments (whether in cash or in kind) paid or payable to EMBI or its successors or assigns from the commercialization of the IP in all or any part of the Territory (as that term is defined in the Zor Agreement (as defined below)), including, without limitation, equity payments, royalty payments, license fees, milestone payments and similar payments; (iii) all other revenue or payments (whether in cash or in kind) paid or payable to EMBI or its successors or assigns from the commercialization of the IP in any part of the world other than the Territory (as that term is defined in the Zor Agreement), including, without limitation, equity payments, royalty payments, license fees, milestone payments and similar payments; (iv) any proceeds (whether in cash or in kind) from the arm’s length sale, assignment, transfer or other disposition of the IP; and (v) for the purpose of this definition of IP Revenue, IP shall include (A) the license granted by Zor pursuant to Section 2.5 of the Zor Agreement; (B) any Improvements transferred by Lorus to EMBI or its successors or assigns pursuant to the Animal Rights License Agreement made between the parties dated as of June 19th, 2009 (the term “Improvements” is defined in the Animal Rights License Agreement); and (C) with respect to the patents and patent applications set out in Schedule A, any corresponding provisional or other applications for patent filed in any jurisdiction based upon or claiming priority from any such patents or patent applications, and all divisionals, continuations, continuations-in-part, reissues, extensions, substitutions, re-examinations, renewals, supplemental protection certificates, patents of importation or patents of addition to any of the foregoing.
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IP Revenue means the aggregate amount received by the Purchaser as consideration for the sale of, or grant of a license under, the Company Registered Intellectual Property (as defined in Section 5.6), or patents or patent applications filed after the date hereafter and based on invention disclosures made to the Company prior to the date of the agreement, which may include upfront fees, annual payments, milestone payments, royalties, earn-outs, imputed income on interest-free loans received from the licensee and other similar payments; provided, however, that “IP Revenue” shall not include any amounts received by the Purchaser by way of (i) an equity investment (but solely to the extent that such investment is at a price equal to or less than 125% of the fair market value of the Purchaser’s stock with equivalent rights, preferences and privileges) (ii) a loan, (iii) research and development support (at a reasonable FTE value), or (iv) reimbursement of patent prosecution, maintenance, enforcement or defense expenses.
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Examples of IP Revenue in a sentence

  • EMBI shall provide quarterly reports (the “Report”) to Lorus of all IP Revenue earned for the immediately preceding Calendar Quarter within fifteen (15) days after the end of each Calendar Quarter commencing the first Calendar Quarter when any IP Revenue is first received by EMBI.

  • The Service Fee shall be paid to Lorus within twenty (20) days of receipt by EMBI of any IP Revenue.

  • In consideration of the provision of the Services, EMBI shall pay to Lorus an amount equal to fifty per cent (50%) of the net IP Revenue actually received by EMBI (the “Service Fee”).

  • The program will consist of five elements; customer satisfaction (value), technical efficiency, Mitel Networks accreditation, purchased demo systems and a percentage of your IP Revenue.

  • From and after the date hereof until the sixth (6th) anniversary of the date of this Agreement, Buyer shall pay to Paying Agent (for the benefit of the Sellers) ten percent (10%) of its Company IP Revenue, set forth in the Update Report within five (5) Business Days following delivery of such Update Report, if the Shareholders’ Representative has not disputed such amounts in the Update Report.