Running Royalties definition
Examples of Running Royalties in a sentence
License Maintenance Fees paid in excess of Running Royalties shall not be creditable to Running Royalties for future years.
Any delay resulting from any of said causes shall extend performance accordingly or excuse performance, in whole or in part, as may be reasonable, except that said causes shall not excuse payments of amounts owed at the time of such occurrence or payment of any Running Royalties or Guaranteed Amounts for Royalty Bearing Products due on any sales thereafter.
Any sales of Royalty Bearing Products under this Section shall be, at all times, in accordance with the policies, prices, and standards established for marketing and distribution of Royalty Bearing Products pursuant to this Agreement, and shall include payment of all Running Royalties accrued in accordance with Section 5 hereof.
If this statement discloses that the amount of Running Royalties paid during any period to which the report relates was less than the amount required to be paid or that any other amount is due MFB, Nonni's immediately shall pay such amounts, together with accrued interest at the Royalty Default Rate in cash or other immediately available funds.
On or before the last day of the month following the last month of each calendar quarter covered by this Agreement, Nonni's shall deliver to MFB a written statement prepared, signed, and certified to be true and correct by Nonni's senior financial officer, or their designee, setting forth the amount of Royalty Bearing Products sold, including sufficient information and detail to confirm the calculations, which report shall be accompanied by payment in full of the amount of Running Royalties then due.