Termination Royalty definition

Termination Royalty means an additional royalty payment that is to be paid to ▇▇▇▇▇ by the Company following termination of this Agreement pursuant to Paragraph 12.5 herein in an amount equal to (a) the greater of (i) the Transaction Value (as defined below) and (ii) the Threshold Value (as defined below), multiplied by (b) the Termination Percentage (as defined below).
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Termination Royalty means ***** of Summa Four's revenue from the Product, including any variation or derivative of such Product. The Termination Royalty shall be payable quarterly, and shall be paid, if any is due, commencing at the time specified in Section 6.2 and ending upon the earlier of (a) such time as the aggregate Termination Royalty paid by Summa Four equals ***** or (b) the ***** anniversary of the termination of Phase I. The Termination Royalty shall be payable only after termination of Phase I and only if required by Section
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Examples of Termination Royalty in a sentence

  • The Termination Royalty Report shall provide the total Product Net Sales up to such date of termination which were not previously reported to Dow.

  • The sole authority of the Independent Financial Expert will be to determine Termination Royalty Rate, the Terminated Territory Royalty Rate or the reasonably allocable amount (as applicable).

  • VGX shall provide a Termination Royalty Report to Dow within sixty (60) days after the date of any termination of this Agreement.

  • If such senior representatives (or such designees) are unable to resolve any such disagreement within such ten (10)-Business Day period, then, upon the written request of either Party, the determination of the Termination Royalty Rate, the Terminated Territory Royalty Rate or the reasonably allocable amount (as applicable) shall be referred to an Independent Financial Expert.

  • Concurrently with the making of this Termination Royalty Report, VGX will pay to Dow all Royalties due.

  • Licensee shall provide a Termination Royalty Report to Dow within [**] days after the date of any termination of this Agreement.

  • Concurrently with the making of this Termination Royalty Report, Licensee will pay to Dow all Royalties due.

  • The Termination Royalty shall be payable quarterly, and shall be paid, if any is due, commencing at the time specified in Section 6.2 and ending upon the earlier of (a) such time as the aggregate Termination Royalty paid by Summa Four equals ***** or (b) the ***** anniversary of the termination of Phase I.

  • Within fifteen (15) days following receipt of such report, ▇▇▇▇▇ shall either approve in writing the calculation of such Termination Royalty or shall provide in writing to the Company an explanation of the basis for his disagreement with the Company’s calculation of the Termination Royalty.

  • In the event that ▇▇▇▇▇ disagrees with the Company’s calculation of the amount of the Termination Royalty, the Company and ▇▇▇▇▇ shall negotiate in good faith to resolve such disagreement.