Royalties Received definition
Royalties Received means, with respect to Net Sales during any specified period, the Royalties received with respect to such Net Sales in accordance with the terms of the Counterparty License Agreement; including Royalties received after the end of such specified period with respect to Net Sales made during such period. For the purpose of determining whether or not the Contingent Payments are due to the Seller (or adjustments thereto) or [*****] are due to [*****], as applicable, Royalties as used in the calculation of Royalties Received shall include any Royalties paid pursuant to Section 3.4 of the Counterparty License Agreement but shall not include milestone payments, late payment interest or other penalties.
Examples of Royalties Received in a sentence
Income: Amount Amount Rents received Royalties Received Expenses: Mortgage interest Legal and other professional fees Other interest Cleaning and maintenance Insurance Commissions Repairs Utilities Auto and travel Management fees Advertising Supplies Taxes Other (itemize) If this is the first year we are preparing your return, provide depreciation records.
All royalties payable to or on behalf of Owner pursuant to the Foreign License portion of this Agreement shall be referred to herein as "Foreign Royalties Received" or "FRR".