Patent Royalty definition

Patent Royalty. The Patent Royalty to be paid to Licensor by Omthera is to be calculated as a percentage of Net Sales generated by the sale of Product at the royalty rates shown in the table below for as long as there is “patent protection” (as per Section 8) on the Product or for fifteen (15) years from the date of the Commercial Launch, whichever is longer (according to Sections 1.40 and 8 of the License Agreement).

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Patent Royalty has the meaning set forth in Section 3.4(a).

Patent Royalty has the meaning set forth in Section 6.2.

Examples of Patent Royalty in a sentence

INDICATION PREVALENCE CATEGORY COMMON RARE ULTRA-RARE Patent Royalty [**] [**] [**] “Common” is defined as prevalence greater than 1 in 1,500.
In no event shall the Know-How Royalty be payable in respect of any Net Sales upon which the Patent Royalty is payable.
If Adaptec holds rights under any patent that would qualify as one of the Adaptec Patents solely but for the requirement of payment of royalties for the granting of licenses thereunder ("Royalty Bearing Patent"), Adaptec agrees, within a reasonable time of Roxio's written request, to grant Roxio a license under the Royalty Bearing Patent ("Royalty Bearing Patent License").
The Quarterly Patent Royalty Reports will quantify the gross revenues derived from the use, offer for sale, sell, lease, rent and export of Licensed Products and Related Services, by country (if applicable), accrued during the previous quarter explaining the basis for such calculations.
If Annual Net Sales [**] and include both Covered Sales and Uncovered Sales of Licensed Products, the royalty reduction attributable to Uncovered Sales shall be applied to each Patent Royalty Rate based on the proportion of Uncovered Sales to total Annual Net Sales.
In no circumstance will GSK pay a GSK Patent Royalty or any other royalty hereunder beyond the date of expiration of the last Valid Claim in the Field.
In the event that Dermira undergoes a Liquidity Event during the Rose U Patent Royalty Term, it shall pay Licensor a royalty of $[*].
If Licensee obtains any value, payment or compensation of any type or kind as a result of any claim brought pursuant to Section 10.2.1 above, Licensee shall pay to WU a percentage of any such proceeds (after recouping reasonable and necessary attorney’s fees and expenses incurred in connection with such claim) equal to the applicable Patent Royalty Rate.
Each Patent Royalty Payment shall be accompanied by a written report (to be prepared in a mutually agreeable format), setting forth (without limitations) information necessary for the calculation of such Patent Royalty Payment (including, on a country-by-country basis, the gross sales of each Product sold); the calculation of Net Sales from such gross sales; the royalties payable in Dollars; and any withholding taxes required by law to be deducted.
In the event such Valid Claim issues during the Royalty Tail Period, (i) the escrow account and any interest thereon shall be paid to Regulus and (ii) GSK will pay the full GSK Patent Royalty in such countries starting only from the date of such issuance of the Valid Claim and shall not owe any GSK Patent Royalty in such countries for any preceding period.

More Definitions of Patent Royalty

Patent Royalty has the meaning assigned to such term in Section 6.4.1.

Patent Royalty means any royalty payable to Microsoft under the Patent Agreement.

Patent Royalty means the percentage of Total Annual Product Net Sales (as defined herein) generated by the Product and due to Licensor for as long as there is patent protection on Product or fifteen years (15) from date of the Commercial Launch, whichever is longer, wherein “patent protection” for this Agreement means that the sale of Product by anyone else except for Omthera and/or its Affiliates and sub-licensees in the applicable country infringes a (i) valid, (ii) enforceable, and (iii) issued or applied for Licensor Patent in such country. The Patent Royalty applies on a country-by-country basis for the whole Territory cumulatively and for each patent protection individually. In case of a sub-license, the royalties due to Licensor apply to the total of sub-licensees’ Net Sales of Product (see Section 8);

Patent Royalty. As further consideration for the grant of exclusive rights to the Licensed Patent, LICENSEE will pay to ▇▇▇▇▇▇▇▇ or her nominee five (5) percent of the gross revenues derived from the use, offer for sale, sell, lease, rent and export of Licensed Products and Related Services (the “Patent Royalty”).

Patent Royalty shall have the meaning set forth in Section 6.3(i).

Patent Royalty means the royalty based on net sales specified in the schedule;