Examples of Third Party Royalty in a sentence
Any and all disputes arising out of or related to Section 3.4(b)(ii)-(iv) or Section 9.3(b) of the VEP LLC Operating Agreement or any Third Party Royalty as contemplated by Section 14.01 and all disputes referred to arbitration pursuant to Section 15.05(c) shall be referred to and finally resolved by arbitration under the Rules of Arbitration of the International Chamber of Commerce (the “ICC”) then in effect (the “Rules”), which Rules are deemed to be incorporated by reference into this clause.
In the case of any other dispute regarding any Third Party Royalty or any Disputed Third Party Royalty Obligation, VEP LLC or TAP, as applicable, and Newco may notify the other in writing of such dispute, whereupon such Parties shall attempt to reconcile their differences, and any written resolution as to a disputed item, signed by each of such Parties, shall be final, binding, conclusive and non-appealable as to such item for all purposes hereunder.
However, no Third Party Royalty is due and payable on such net retail sales and/or net wholesale sales unless payments thereof have actually been received by the relevant subsidiary of the Company.
Subject to the foregoing provisions of this Section 14.01 and to the procedures applicable to Third Party Claims, all decisions regarding the negotiation of a Third Party Royalty or the settlement or defense of a claim related to a Third Party Royalty shall be within the sole discretion of TAP and VEP LLC.
Within 30 days after the end of each financial year, TRHK will pass to AQL the total amount of Third Party Royalty collected under all Third Party Licence Agreements entered into in the year in respect of the AQ Authorised Trademarks after deduction of Commission and, if applicable, disbursements.