Initial Royalty Period definition

Initial Royalty Period has the meaning set forth in Section 5.1(a).
Sample 1Sample 2
Initial Royalty Period means the period commencing upon the First Commercial Sale and ending at the later to occur of: (a) the expiration of the last-to-expire Patent in the Territory within the Corixa Intellectual Property Rights that claims the Product or its manufacture, formulation or use, and (b) the end of the calendar year in which the tenth (10th) anniversary of the First Commercial Sale occurs.
Sample 1
Initial Royalty Period shall have the meaning defined in Section 5.12(a)(i) of the Agreement.
Sample 1

Examples of Initial Royalty Period in a sentence

  • During the Initial Royalty Period, Royalties due hereunder shall be paid quarterly within forty-five (45) days of the end of each calendar quarter.

  • After the Initial Royalty Period with respect to a particular Collaboration Product has ended, and for a period of time of up to [*] thereafter, a [*] royalty of [*] will apply in each country where the royalty referred to in the immediately preceding sentence has been paid, provided that (a) the full period during which a royalty shall be payable in such country shall not exceed [*], and (b) [*].

  • The right of first negotiation under this Section 2.8 shall expire upon the earlier of (i) the end of the Initial Royalty Period and (ii) termination of this Agreement.

  • By way of example, if the First Commercial Sale of a Product occurs in the United States, then the Initial Royalty Period will end [***] months after such First Commercial Sale in the United States for any and all Products, and thereafter Purchaser will pay royalties at the applicable Post-Initial Period Royalty Rate on Net Sales of all Products in the United States.

  • During the Initial Royalty Period, Medytox hereby grants Evolus and its Affiliates a non-exclusive, royalty-bearing, irrevocable (except pursuant to Sections 9.2 or 9.3 or the occurrence of the circumstances described in Section 13.6) right and license to the Licensed Rights to Commercialize and obtain or maintain the Marketing Authorization and all Regulatory Materials related to any Licensed Product in the Territory (the “Commercialization License”).

  • Subject to the terms and conditions hereof, until the expiration of the Initial Royalty Period, Freedom shall pay to Moller, on or prior to 45 days after the end of each calendar quarter, a royalty payment in an amount equal to 5% of the Net Revenues received during such calendar quarter for Products sold or leased by Freedom or its Affiliates to parties other than Freedom, Moller or any of their Affiliates.

  • Commencing upon the expiration of the Initial Royalty Period, and lasting for [*].

  • After the Initial Royalty Period, during the remainder of the Royalty Term Purchaser shall pay Seller a royalty on annual Net Sales of Products within forty-five (45) days of the end of each calendar year as follows: For example, after the Initial Royalty Period if Purchaser achieves annual Net Sales of Products of $300 million, Purchaser shall pay Seller a royalty as follows: 10% x $250 million = $25 million; 15% x $50 million= $7.5 million; for a total of $32.5 million.

  • Following the Initial Royalty Period, Purchaser shall pay to the Royalty Recipients the following royalties on the Annual Net Sales of Products, equal to the following percentages of such Net Sales (the “Post-Initial Period Royalty Rates”): Annual Net Sales of Products For purposes of this Agreement, “Annual Net Sales of Products” means [***].

  • For each Collaboration Product, SPRI shall pay XOMA a royalty of [*] of Net Sales of such Collaboration Product during the Initial Royalty Period.


More Definitions of Initial Royalty Period

Initial Royalty Period means the period starting on December 16, 2020 and ending on September 16, 2022.
Sample 1
Initial Royalty Period means the period beginning on [*].
Sample 1
Initial Royalty Period means, for each Collaboration Product the period commencing with the First Commercial Sale thereof and continuing on a country-by-country basis until [*].
Sample 1
Initial Royalty Period means the period during which the making, use or sale of Products is covered by one or more claims under an unexpired U.S. patent deemed to be Moller Intellectual Property for purposes of this Agreement, which claims have not been held invalid or unenforceable by a court having competent jurisdiction for which any time for appeal has expired.
Sample 1

Related to Initial Royalty Period

  • Royalty Period means the partial calendar quarter commencing on the date on which the first Licensed Product is sold or used and every complete or partial calendar quarter thereafter during which either (a) this Agreement remains in effect or (b) Company has the right to complete and sell work-in-progress and inventory of Licensed Products pursuant to Section 8.5.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Royalty Term has the meaning set forth in Section 8.4(b).

  • Minimum Royalty shall have the meaning set forth in Section 7.3.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1 or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Penalty Period has the meaning set forth in Section 6.3.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • Exclusivity Period means the period beginning on the date hereof and ending on the first to occur of (a) the date six (6) months after the date hereof and (b) the mutually agreed termination of this Agreement pursuant to Section 6.01(b).

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

  • License Period means the period beginning from the Commencement Date and ending on the Termination Date.

  • Sales Milestone Payment has the meaning set forth in Section 8.3.1.

  • Commercial Sale means for a given product and country the sale for value of that product by a Party (or, as the case may be, by an Affiliate or permitted sublicensee of a Party), to a Third Party after regulatory approval (if necessary) has been obtained for such product in such country.

  • License Term means the duration of a License as specified in the Order.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Royalty Fee means a royalty fee in the amount of $0.00 of Actual Production payable by BC Hydro to the Province for each year of the Term in accordance with Article 6 of the Master Agreement.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Research Period means the research period as described in the Commissioned Research Plan. In accordance with the provisions of this Agreement, in the event that the Agreement ended prior to the completion date of the research originally set, the date the Agreement ends shall be read as the research period.

  • License Fee means the amount payable by the licensee to DMRC as per rates offered by the Selected Bidder for utilization of licensed space and accepted by DMRC to be paid by the Licensee along with other charges and any kind of Central or State Taxes, local levies, statutory dues, etc. that may be payable by the licensee as per prevalent law.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Minimum Term means the minimum initial period of service for each Service as shown on the Service Agreement and Order Schedule, such period to start on the date on which the relevant Service is first made available to you for use. For the avoidance of doubt, unless otherwise agreed the minimum term will be 12 months from your contract commencement date or other such date as may be notified to you in accordance with paragraph 19.2.

  • Milestone Payment means a payment identified in the Implementation Plan to be made following the issue of a Satisfaction Certificate in respect of Achievement of the relevant Milestone;

  • License year means the period of time for which a

  • Supply Period means for a Supply Point, the period beginning on the Start Date and ending on the Termination Date;