Annual Royalties Based on Shipments of Licensed Merchandise Sample Clauses

Annual Royalties Based on Shipments of Licensed Merchandise. In consideration of the rights and license granted to it with respect to the Licensed Merchandise, Licensee shall pay to Licensor an annual royalty (the “Annual Royalty”). The Annual Royalty will be payable in quarterly installments (each, a “Quarterly Royalty”), based upon the invoice price less returns, allowances, trade discounts, retail co-op fees, markdowns and commissions, which will, in the aggregate, not exceed ten percent (10%) of the invoice price, of all Licensed Merchandise containing the Patented Ink Technology billed and shipped by Licensee during the preceding quarter (“Quarterly Shipments”). The quarters upon which the Quarterly Royalties and Shipments are based shall be: April 1 through June 30; July 1 through September 30; October 1 through December 31; and January 1 through March 31 (each a “Quarter”). For Over $2.50 Books & Kits and Under $2.50 Books & Kits incorporating the Patented Ink Technology that are sold within the Exclusive Territory, the royalty rate payable by Licensee to Licensor under this Agreement will be five percent (5%) of the Quarterly Shipments. For Activating Marker Kits incorporating the Patented Ink Technology that are sold within the Exclusive Territory, the royalty rate payable by Licensee to Licensor under this Agreement will be three percent (3%) of the Quarterly Shipments. For any Licensed Merchandise incorporating the Patented Ink Technology that Licensee sells to distributors, wholesalers and retailers for resale to consumers located outside the Exclusive Territory, the royalty rate payable by Licensee to Licensor under this Agreement will be two percent (2%) of the Quarterly Shipments. Each Quarterly Royalty shall be due on or before the last day of the calendar month following the Quarter during which the applicable Licensed Merchandise has been billed and shipped. The amounts payable for each Quarterly Royalty will be subject to credits for prepayments as provided in Section 4. Time is of the essence as to all royalty payments due hereunder. Royalties unpaid for more than ten (10) business days after due date shall bear interest at the prime rate (as reported by The Wall Street Journal) plus 2%, or, if less, at the maximum allowable legal rate. The Quarterly Royalty for each Quarter shall be calculated at the net invoice price of all Licensed Merchandise containing the Patented Ink Technology billed and shipped during that Quarter, from which net invoice price there shall be no credits, allowances or ded...
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Related to Annual Royalties Based on Shipments of Licensed Merchandise

  • Royalties on Net Sales Novo will pay to Neose royalties as a percentage of annual Net Sales of each New Product during the Term at the applicable rates set forth in this Section 4.1 and in accordance with this Section 4:

  • Third Party Royalties Each party shall be responsible for all of its own costs of commercializing Products or licensing Intellectual Property Rights, including any payments to Third Parties for work done by such Third Parties or for licenses necessary for the manufacture, sale, or use of Products by a party or its Affiliates or sublicensees.

  • Know-How Royalty Notwithstanding the provisions of Section 5.4.1(a), in countries where the sale of Product by Merck or its Related Parties would not infringe a Valid Patent Claim, Merck shall pay royalty rates that shall be set at [***] of the applicable royalty rate determined according to Section 5.4.1(a). Such royalties shall be calculated after first calculating royalties under Section 5.4.1(a).

  • Earned Royalties Subject to of Article 7 hereof, Licensee shall pay to Licensor for the rights granted hereunder a sum equal to one and [*****] of the Net Invoice Value of Trademarked Products Sold by Licensee (the "Royalties"). The Royalties shall be remitted in accordance with Section 7.4 of this Agreement. 6.2

  • Minimum Royalties If royalties paid to Licensor do not reach the minimum royalty amounts stated in Section 3.3 of the Patent & Technology License Agreement for the specified periods, Licensee will pay Licensor on or before the Quarterly Payment Deadline for the last Contract Quarter in the stated period an additional amount equal to the difference between the stated minimum royalty amount and the actual royalties paid to Licensor.

  • Running Royalties Company shall pay to JHU a running royalty as set forth in Exhibit A, for each LICENSED PRODUCT(S) sold, and for each LICENSED SERVICE(S) provided, by Company or AFFILIATED COMPANIES, based on NET SALES and NET SERVICE REVENUES for the term of this Agreement. Such payments shall be made quarterly. All non-US taxes related to LICENSED PRODUCT(S) or LICENSED SERVICE(S) sold under this Agreement shall be paid by Company and shall not be deducted from royalty or other payments due to JHU. In order to insure JHU the full royalty payments contemplated hereunder, Company agrees that in the event any LICENSED PRODUCT(S) shall be sold to an AFFILIATED COMPANY or SUBLICENSEE(S) or to a corporation, firm or association with which Company shall have any agreement, understanding or arrangement with respect to consideration (such as, among other things, an option to purchase stock or actual stock ownership, or an arrangement involving division of profits or special rebates or allowances) the royalties to be paid hereunder for such LICENSED PRODUCT(S) shall be based upon the greater of: 1) the net selling price (per NET SALES) at which the purchaser of LICENSED PRODUCT(S) resells such product to the end user, 2) the NET SERVICE REVENUES received from using the LICENSED PRODUCT(S) in providing a service, or 3) the net selling price (per NET SALES) of LICENSED PRODUCT(S) paid by the purchaser. No multiple royalties shall be due or payable because any LICENSED PRODUCT(S) or LICENSED SERVICE(S) is covered by more than one claim of the PATENT RIGHTS or by claims of both the PATENT RIGHTS under this Agreement and “PATENT RIGHTS” under any other license agreement between Company and JHU. The royalty shall not be cumulative based on the number of patents or claims covering a product or service, but rather shall be capped at the rate set forth in Exhibit A.

  • Sublicense Revenue In the event Licensee or an Affiliate of Licensee sublicenses under Section 2.2, Licensee shall pay CareFusion **THE CONFIDENTIAL PORTION HAS BEEN SO OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND HAS BEEN FILED SEPARATELY WITH THE COMMISSION.** of any Sublicense Revenues resulting from sublicense agreements executed by Licensee.

  • Sublicense Fees Licensee will pay Sublicense Fees indicated in Section 3.1(e) of the Patent & Technology License Agreement on or before the Quarterly Payment Deadline for the Contract Quarter.

  • Duration of Royalty Obligations The royalty obligations of Licensee as to each Product shall terminate on a country-by-country and product-by-product basis concurrently with the expiration of:

  • Royalties 8.1 In consideration of the license herein granted, LICENSEE shall pay royalties to LICENSOR as follows:

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