Total Royalty definition
Examples of Total Royalty in a sentence
Licensee shall pay to BP a royalty equal to Licensee’s volume-proportionate share of the Total Royalty Payments due to KGSI under the KGSI Agreement during any twelve (12) month period commencing on July 7 of each year, and ending on July 6 the following year (each, a “Reporting Year”).
USA $ $ $ $ $ # ▇▇▇▇▇▇ # ▇▇▇▇▇▇: # # # # # # ▇▇▇▇▇ # Other: # # Sublicense #1 (name) # Sublicense #2 (name) # TOTAL: $ $ $ $ $ Total Royalty Due: $ The following royalty forecast is non-binding and for internal planning only: Royalty Forecast Under This Agreement: Qtr 1: Qtr 2: Qtr 3: Qtr 4: * On a separate page, please indicate the reasons for adjustments, if significant.
In the event that the LICENSEE’S royalty obligation to the LICENSOR combined with third-party obligations (“Total Royalty Obligation”) exceeds a certain threshold cumulative royalty, the royalty payable by LICENSEE to LICENSOR will be reduced by an amount proportionate to the amount by which the Total Royalty Obligation by the LICENSEE exceeds the threshold.
Unless known by BP on the date of termination of the Term, the unpaid Total Royalty Payment will be calculated under Section 4.1 hereof using a royalty of $0.01 per US gallon of fuel grade ethanol.
For purposes of clarity, the Total Royalty Burden shall be computed based on all licensees under Intellectual Property Rights for which Omeros is required to pay a royalty for the sale of Licensed Products.