Examples of Licensee Net Sales in a sentence
In the event that no such separate sales are made in the same quarter by Licensee, Net Sales for royalty determination shall be [***].
In the event that no such separate sales are made in the same quarter by Licensee, Net Sales for royalty determination shall be as reasonably allocated by Licensee, between such Product and such other product, based upon their relative importance and proprietary protection.
The portion of aggregate annual Licensee Net Sales [***] [***] The portion of aggregate annual Licensee Net Sales [***] [***] The portion of aggregate annual Licensee Net Sales [***] [***] Exclusive License and Collaboration Agreement PharmaEngine – NanoBiotix Confidential - 33 - of - 75 - For the MRA Territory, Licensee shall pay to Licensor a running royalty of [***] of Licensee Net Sales in countries in the MRA Territory that are part of the Territory.
The term “Total Net Sales” means, with respect to any given Collaboration Product, the total of Morphic Net Sales and Licensee Net Sales for such Collaboration Product in a Calendar Year.
Notwithstanding anything to the contrary herein, royalties payable by Client to Schrödinger for any Licensee Net Sales shall not exceed [***] of the amounts actually received by Client as royalties for such Licensee Net Sales from the associated Licensee under the applicable License or Sale Agreement.
Client shall pay Schrödinger the foregoing royalties within [***] after the end of the calendar quarter to which the applicable Morphic Net Sales and Licensee Net Sales relate.
Only one royalty payment shall be due on Licensee Net Sales or Licensor Net Sales (as applicable) even though the sale or use of the Licensed Product may be covered by more than one Patent Right or item of Know How in a country.
Royalties on Net Sales pursuant to Section 3.4 and Sublicense Payments pursuant to Section 4.1 shall be payable by Licensee quarterly, within [*] days after the end of each calendar quarter, based upon Net Sales by Licensee, Net Sales reported by Affiliates and Sublicensees and Sublicense Revenues received by Licensee or reported by Affiliates during such calendar quarter.
During the Royalty Term, on a Collaboration Product-by-Collaboration Product basis, Client shall pay (or cause its Affiliates to pay) to Schrödinger a percentage (“Royalty Rate”) of Morphic Net Sales and Licensee Net Sales of such Collaboration Product as applicable and set forth in the below table.
In the event that no such separate sales are made by Licensee, Net Sales for purposes of royalty determination shall be calculated by multiplying Net Sales of the combination by the fraction C/(C+D) where C is the fully allocated cost of the Licensed Product and D is the fully allocated cost of such other biologically active components, such costs being determined using standard accounting procedures, which shall comply with generally accepted accounting practices.