License Fee definition
Examples of License Fee in a sentence
Subject to the limitation on scope of license described in Section 2.2 below and the payment of the License Fee by the Licensee to the Licensor, the Licensor hereby grants (and the Licensor shall procure that its Affiliates grant) to Licensee and its Affiliates, for the Term, a non-exclusive license under the Licensed Technology, to make, have made, use, import, export, offer to sell, sell (directly or indirectly) or otherwise transfer or dispose of Licensed Products anywhere in the world.
The License Fee shall be made in United States currency by wire transfer to the following bank account designated by the Licensor, pursuant to a bank transfer as follows: BANK NAME: DBS BANK LIMITED BANK ADDRESS: [***] SWIFT CODE: [***] ACCOUNT NO: [***] ACCOUNT NAME: MAXEON SOLAR PTE.
The License Fee set forth in Section 3.1 is an amount exclusive of such withholding tax, and the Licensee shall pay the amount set forth in Section 3.1 free and clear and without deduction for or on account of any such withholding tax.
Each Party shall be responsible for bearing and paying any taxes, cost and expenses incurred on their own in connection with the matters hereunder or any tax that are imposed on the License Fee under the laws of Singapore or levied by the tax authority of Singapore; provided, however, that any withholding tax required to be withheld from the License Fee under applicable laws shall be borne by the Licensee.
The Parties acknowledge and confirm that such payment of the License Fee shall constitute full and final satisfaction of the Licensee's payment obligation under both this Agreement and the Term Sheet.