Royalties and Payment Terms. 4.1 Consideration for Grant of Rights.
Royalties and Payment Terms. 3.1. Licensee shall pay to Licensor the royalty on Net Sales of Licensed Products as specified in the attached SCHEDULE D. Licensee's obligation to pay royalties under this Agreement will be triggered by the invoice date or the shipping date of the Licensed Products, whichever occurs first. Royalty payments are due thirty (30) days after the end of each calendar quarter.
Royalties and Payment Terms. 6.1. Royalties payable by Licensee to Carnegie Mellon shall be [* * *] of Net Sales. However, no Royalties from Dispositions of Licensed Products by Licensee (but not any of its sublicensees) under this Section shall be due and payable to Carnegie Mellon for a period of three (3) years following the Effective Date or until the closing of a Change of Control Event, whichever may occur sooner. In the event that Licensee is legally required to pay bona fide royalties to a third party(ies) with respect to any Disposition of a Licensed Product for which Licensee is also legally required to pay Royalties to Carnegie Mellon under this Agreement, then Licensee shall be entitled to deduct fifty percent (50%) of such royalties paid to such third party(ies) with respect to that Disposition of a Licensed Product from the Royalties due to Carnegie Mellon under this Agreement for that Disposition of a Licensed Product; provided that such Royalties due to Carnegie Mellon shall in no event be less than [* * *] of Net Sales.
Royalties and Payment Terms. [9] As a pitfall for the unwary, licenses to certain federally funded inventions may require substantial manufacturing in the U.S. [10] Annual minimum royalties and signing fees are also common with non-exclusive patent licenses.
Royalties and Payment Terms. 4.1 Consideration for Grant of Rights. (a) License Issue Fee and Patent Cost Reimbursement. COMPANY shall pay to M.I.T. within thirty (30) days of the EFFECTIVE DATE, a license issue fee of [***], and in accordance with Section 6.3, shall reimburse M.I.T for its actual expenses incurred as of the EFFECTIVE DATE in connection with obtaining the PATENT RIGHTS. These payments are nonrefundable. Portions of this Exhibit were omitted and have been filed separately with the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rule 406 of the Securities Act. 10
Royalties and Payment Terms. 4.1 Consideration for Grant of Rights. (a) License Issue Fee. COMPANY shall pay to M.I.T. on the EFFECTIVE DATE a license issue fee of Ten thousand dollars ($10,000.00). This payment is nonrefundable. 8 (b) License Maintenance Fees. COMPANY shall pay to M.I.T. the following license maintenance fees on the dates set forth below: January 1, 2015 $ 5,000 January 1, 2016 $ 10,000 January 1, 2017 $ 15,000 January 1, 2018 $ 15,000 Each January 1 of every year thereafter $ 20,000 This annual license maintenance fee is nonrefundable; however, the license maintenance fee may be credited to running royalties subsequently due on NET SALES earned during the same calendar year, if any. License maintenance fees paid in excess of running royalties due in such calendar year shall not be creditable to amounts due for future years. (c) Running Royalties for Licensed Products and Licensed Services. COMPANY shall pay to M.I.T. a running royalty of One-and-a- half percent (1.5%) of NET SALES of LICENSED PRODUCTS or use of LICENSED PROCESS by COMPANY and AFFILIATES. Running royalties shall be payable for each REPORTING PERIOD and shall be due to M.I.T. within sixty (60) days of the end of each REPORTING PERIOD. (d) Running Royalties for Licensed Services. COMPANY shall pay to M.I.T a running royalty of One-and-a-half percent (1.5%) of the gross revenue from the sale of LICENSED SERVICES. Running royalties shall be payable for each REPORTING PERIOD and shall be due to M.I.T. within sixty (60) days of the end of each REPORTING PERIOD. (e) For Section 4.1(c) and 4.1(d) above, Royalties on NET SALES shall not be due under this Agreement if royalties on sales of a licensed product, process or service is due under a Patent License Agreement with COMPANY, AFFILIATE or SUBLICENSEE. For the purposes of clarity, royalties on NET SALES shall be due under this Agreement for any Licensed Product, Licensed Process or Licensed Service in any country for which there are no pending or issued Patent Rights/Agreement Patents as defined in each Patent License Agreement. Additionally, royalties on NET SALES shall be due under this Agreement in the Territory for any Licensed Product, Licensed Process or Licensed Service where Patent Rights/Agreement Patents, as defined in each Patent License Agreement, expire, become abandoned or otherwise fail to issue. Royalties on NET SALES under this Agreement shall be due only when there are not royalties due under any Patent License Agreement 9 (f) Sharing of ...
Royalties and Payment Terms. 4.1. LICENSEE shall be subject to the following payments to the UNIVERSITIES:
Royalties and Payment Terms. 5.1. Royalties payable by Licensee to IITK shall be percent (%) of Net Sales received by Licensee or Licensee’s Affiliates. (However, no Royalties from Dispositions of Licensed Products by Licensee under this Section shall be due and payable to IITK for a period of years following the Effective Date.)
Royalties and Payment Terms. (a) In consideration of the licenses granted hereunder, LICENSEE shall pay LICENSOR a royalty for the sale of all Products (excluding Seconds and Close-out Inventory) equal to:***
Royalties and Payment Terms. 6.1. Royalties payable by Licensee to Carnegie Mellon shall be two and seven hundredths percent (2.07 %) of Net Sales. However, no Royalties from Dispositions of Licensed Products by Licensee under this Section shall be due and payable to Carnegie Mellon for a period of three (3) years following the Effective Date or until the closing of a Change of Control Event, whichever may occur sooner.
