Sublicensing Royalty Clause Examples

Sublicensing Royalty. (a) In this Section 7.3:

Sublicensing Royalty. In further consideration of the License, TTI shall pay to Institutions a royalty of twenty percent (20%) on the first $50,000,000CAD of sublicensing revenues (including without limitation, upfront payments, milestones and royalties) collected or received by TTI from non-related, arms length third party sublicensees of Licensed Technology, and fifteen percent (15%) on any sublicensing amounts collected or received by TTI thereafter (the “Sublicensing Royalty”). Notwithstanding the foregoing, the Sublicensing Royalty shall exclude any and all R&D payments, reimbursements, loans and equity investments in TTI (except as contemplated below), but only to the extent such remuneration is a bona fide payment in respect of such matters (and not being made in order to reallocate what is otherwise intended to be upfront payments, milestones and royalties). The value of any equity investments in TTI by a sublicensee in excess of the valuation based upon TTI’s last share transaction with a Third Party (other than an officer, employee or shareholder of TTI), where such Third Party share transaction has a value of more than $100,000 shall, provided that such increase in not otherwise arising from a bona fide increase in the fair market value of such equity investments from the last share transaction, be treated as a Sublicensing Royalty.

Sublicensing Royalty. Licensee shall pay, or require its direct or indirect Sublicensees (to any degree of remoteness) to pay, the Earned Royalty on Net Sales by such Sublicensee, and to impose such obligation on its sub-Sublicensees (however remote) without releasing Licensee from its obligation to pay, or ensure the payment of, the Earned Royalty (except with respect to an Initial Sublicense as set forth in Section 2.b.iv). Except as set forth in Section 5.f, Licensor shall not otherwise be entitled to receive any sublicensing royalty received by Licensee from sublicensing any rights granted to it under this Agreement.

Sublicensing Royalty. Tactile shall pay to Sun a sublicensing royalty (“Sublicensing Royalty”) of [***]% of sublicensee’s Net Sales of the Products. Such royalty may be modified as provided in Section 3(d) and Section 5. In addition, Tactile shall pay to Sun [***]% of any one-time or lump sum payments made to Tactile by such Sublicensee attributable to the Products (as reasonably agreed by Tactile and Sun) pursuant to any sublicensing agreement, including but not limited to initiation fees, up-front royalties, option payments, milestones, earn-outs and the like. Tactile and Sun will agree to the value of any non-cash consideration received by Tactile from a third party in lieu of cash as consideration from such third party under a sublicense agreement; provided that if Tactile and Sun cannot agree on such value, they will appoint a mutually acceptable appraiser to value the non-cash consideration. For the avoidance of doubt, Sun will be paid its consideration percentage for any non-cash value received by Tactile in cash paid by Tactile.

Sublicensing Royalty. In partial consideration of the License granted hereunder and subject to the terms and conditions stated herein, until the expiration of the applicable Royalty Term on a country-by-country basis, Dermata shall pay to Licensor a royalty of [***] of any royalty payments received from Sublicensees (the “Sublicense Royalty Payment”); provided, however, that if a Licensed Product is sold by a Sublicensee in a country where there is no Valid Claim, the applicable Sublicense Royalty Payment for such country shall be reduced by [***]. Dermata shall pay all Sublicense Royalty Payments due under this Agreement thirty (30) days after the end of each Royalty Reporting Quarter in which the applicable royalty payment is received by Dermata from a Sublicensee.

Sublicensing Royalty. This Section 3.7 outlines obligations taking effect as of the Execution Date and replaces previous obligations as outlined in the Existing Agreement in respect of that section. Upon the Execution Date, or as soon thereafter as practicable, but no later than thirty (30) days after the Execution Date, TTI shall issue: (a) to UHN a one-time allocation of TTI common shares, in an amount equal to $2,000,000.00 and (b) to HSC, a one-time allocation of TTI common shares in an amount equal to $1,000,000.00 (collectively the “TTI Equity”). The price per share of TTI Equity shall be determined as a volume weighted average price of the TTI common shares on the Toronto Stock Exchange over the fourteen (14) day period preceding the date of issuance. For clarity, this one time allocation of TTI Equity to each of the Institutions shall be non-refundable and non-creditable against future royalties (including the Basic Royalty) or milestones payable under this Agreement.

Sublicensing Royalty. As additional consideration for the license granted herein, LICENSEE shall remit to SYSTEM the greater of (i) [***] of royalty income received by LICENSEE from NET SALES by a sublicensee(s) up to the royalty rate prescribed in paragraph 3.03 above; or (ii) [***] of NET SALES recorded by such sublicensee(s).

Sublicensing Royalty. In consideration of the license granted under Article 3, NeoRx shall pay to AnorMED, without duplication, in respect of any Licensed Compound and/or Licensed Product: (a) a royalty of [*] of Sublicensing Milestone Revenue collected or received; and (b) a royalty of [*] of Sublicensing Sales Revenue collected or received, provided that the payment set out in this Subsection 7.3(b) shall be subject to an minimum calendar quarterly payment equal to the cumulative sum of: (i) in each country in the Territory where a Licensed Product sold is covered by one or more Valid Claims [*]; and (ii) in each country in the Territory where the Licensed Product sold is covered by one or more Valid Claims [*]; and (iii) in each country in the Territory where the Licensed Product sold is covered by one or more Valid Claims [*]; and (iv) in each country in the Territory where there is no Valid Claim [*]; in each of Subsections 7.3(a) and 7.3(b), until the later of either: (c) the date of expiration of the last Valid Claim within the AnorMED Patents covering the Licensed Product in the country of manufacture or sale, as applicable; or (d) the expiration of [*] after First Commercial Sale of such Licensed Product in the country of sale. For the purposes of this Section 7.3, “control” in the definition of Affiliate shall mean direct or indirect beneficial ownership of [*] interest in the income of a Person or such other relationship as, in fact, constitutes actual control. For purposes of clarification, no multiple royalties shall be due or payable under this Section 7.3 because the sale or manufacture of any Licensed Product is or shall be covered by more than one Valid Claim within the AnorMED Patents in the country of manufacture and/or the country of sale.

Sublicensing Royalty. As additional consideration for the license granted herein, LICENSEE shall remit to SYSTEM [***].