Royalty Payments definition
Examples of Royalty Payments in a sentence
Each Assignee hereby agrees and acknowledges that the Assignor shall cause the Licensee to pay any Royalty Payments and Revenue Payments owed to the Assignor by the Licensee pursuant to the License Agreement to each Assignee in accordance with the terms set forth in this Agreement.
The Assignor’s calculation of Revenue Payments and Royalty Payments shall be conclusive and binding on each Assignee in all respects.
Each Assignee further agrees and acknowledges that the payment of each Assignee ’s Respective Receivables to each such Assignee is contingent, in the entirety, on such Royalty Payments and the Revenue Payments actually becoming due and payable by the Licensee to the Assignor under the License Agreement.
In the event the Assignor is unable to deliver any Royalty Report in accordance with clause (i) above, the Assignor shall deliver to each Assignee, in lieu of such Royalty Reports, a certificate signed by the Assignor’s Chief Executive Officer or Chief Financial Officer (or functional equivalent thereof) certifying the total Royalty Payments to be received by the Assignor from the Licensee for the applicable quarter.
Each Assignee further acknowledges and agrees that there is not guaranty, and neither the Assignor, its Affiliates nor their respective officers, directors, employees, consultants, agents or representatives have made any guaranty of any kind, that the Assignor shall receive any Royalty Payments or Revenue Payments or that the Assignees will receive payment for the Assigned Receivables.