Royalty Credit definition

Royalty Credit shall have the meaning set forth in Section 6.05.
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Royalty Credit shall have the meaning set forth in Section 4.5(B).
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Royalty Credit means an adjustment to the royalties owed to SurModics on Net Sales of a Product following the adjudication of a Patent Infringement Claim involving such Product that is equal to the difference between the royalties calculated using the royalty rate in Section 4.1.3 and the reduced royalty rate in Section 4.1.4 during the pendency of the Patent Infringement Claim.
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Examples of Royalty Credit in a sentence

  • Licensee may utilize either the Combination Products or the Royalty Credit calculation at its discretion, but may not use both.

  • Seller will pay for all Audits but if an Audit shows a 5% or greater discrepancy in the amount of the Royalty or Kenmore Royalty Credit calculated by Buyer for a Buyer fiscal month or Buyer fiscal quarter, as the case may be, then Buyer will pay for that Audit and all subsequent Audits for a period of one year.

  • Upon Seller’s reasonable request Buyer will provide Seller with information that will enable Seller to confirm Buyer’s calculations of Royalties, Kenmore Royalty Credit, and Average Aggregate Minimum Commission.

  • Buyer will keep and preserve accurate records of each transaction relating to Buyer’s calculations of Royalties, Kenmore Royalty Credit, and Average Aggregate Minimum Commission for the longer of (i) the minimum period required by Applicable Law, and (ii) two years following the applicable transaction.

  • Seller, with reasonable notice to Buyer, may during normal business hours conduct audits of the books and records of Buyer to confirm Buyer’s calculations of Royalties, Kenmore Royalty Credit, and Average Aggregate Minimum Commission (each an “Audit”).

  • The Marginal Well eligibility criteria and Deep Well Royalty Credit Programs were introduced in 2003.

  • Under the original Infrastructure Royalty Credit Program, a total of $1.549 billion was awarded from 2004 to 2018 with $0.668 billion released so far.

  • To be eligible for the Kenmore Royalty Credit for a Buyer fiscal quarter Buyer will during the fiscal quarter pay the Franchisees and the owners of the Sears Hometown Stores the Average Aggregate Minimum Commission Rate specified on Appendix 5(d) on sales of Kenmore-Branded Products.

  • As the Deep Well Royalty Credit is higher for Tier 2 wells designated as West, this suggests firms took advantage of the change for wells that would have previously been designated as East, and the change resulted in a higher bank of deep well credits.

  • In 2016 an additional program was added — the Clean Infrastructure Royalty Credit Program that gave producers the opportunity to apply for credits for investments designed to reduce GHG emissions from wells and to better align the program with environmental goals of the Province.


More Definitions of Royalty Credit

Royalty Credit has the meaning set forth in Section 8.7(b).
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Royalty Credit has the meaning set forth in Section6.7.2. Information marked by [***] has been omitted pursuant to a request for confidential treatment. The omitted portion has been separately filed with the Securities and Exchange Commission.
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Royalty Credit is defined in Section 3.4.
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Royalty Credit means that if Licensee is required to license or acquire technology from a third party because the manufacture, use, sell, offer for sale or import of any Licensed Product(s) and/or Licensed Process(es)s would infringe that third party’s rights unless a license or other right to such third party technology is obtained or Licensee otherwise believes that such license or other right is required from such third party, then Licensee shall be entitled to a royalty credit as determined herein. In the event that the combined royalty burden required to make and sell a given Licensed Product(s) and/or Licensed Process(es) exceeds 5% of the Net Sales (the “Royalty Stack Cap”), the royalty payable to UIRF may be adjusted in an amount proportional to the contribution of UIRF’s earned royalty to Licensee's total royalty burden for the Licensed Product(s) and/or Licensed Process(es) (the “Total Royalty Stack”), in accordance with the following formula:
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Royalty Credit means a royalty credit to which an individual is entitled under this Part;
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Related to Royalty Credit

  • 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.

  • 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.

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

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

  • Sublicensing Revenue means all (i) cash, (ii) sublicensing fees and (iii) all other payments and the cash equivalent thereof, which are paid to LICENSEE by the Sublicensees of its rights hereunder, but excluding the following payments:

  • Royalty Report shall have the meaning set forth in Section 7.1.

  • Financial Product means any securities, futures contracts or leveraged foreign exchange contracts as defined under the SFO. Regarding “leveraged foreign exchange contracts”, it is only applicable to those traded by persons licensed for Type 3 regulated activity.

  • Auction Revenue Rights Credits means the allocated share of total FTR auction revenues or costs credited to each holder of Auction Revenue Rights, calculated and allocated as specified in Operating Agreement, Schedule 1, section 7.4.3, and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.3.

  • Commercial Product means any such product as defined in FAR 2.101.

  • 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.

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.

  • Sublicense Revenue means any payments or other consideration that CTI actually receives from a Sublicensee as consideration for the grant of a Sublicense, including, without limitation, milestone payments, license fees, license maintenance fees and equity. Sublicense Revenue excludes (i) purchases of equity or debt of TGTX, (ii) payments made for GTX’s performance of any research, Development, or Commercialization of any Licensed Product, (iii) (b) royalties on Net Sales (or, in the case of a profit sharing deal structure, shares of net profits) which are covered in Section 5.9, and (iv) any payment or reimbursement of any costs or expenses incurred by TGTX for filing, prosecution, maintenance, or defense of any DFCI Patents. In the event such consideration received from a Sublicensee is not cash, Sublicense Revenue shall be calculated by TGTX based on the fair market value of such consideration, at the time of the transaction, assuming an arm’s length transaction made in the odinary course of business.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Collaboration Product means a pharmaceutical product containing or comprising Compound in any dosage form alone, or in combination with, one or more other pharmaceutically active ingredients, and any and all Improvements thereto.

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Commercial Supply Agreement has the meaning set forth in Section 4.1 (Supply Agreement).

  • Net Sales means [***].

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Licensed producer means a person or entity licensed to produce medical cannabis.

  • Sublicense Revenues means all revenue, in whatever form but excluding sublicense royalties, earned by the Licensee in consideration of its granting a Third Party a sublicense to make a Licensed Product including, without limitation, receipt of annual milestone attainment, sublicense issuance, maintenance or up-front payments, or technology access fee; and issuance of securities or real, personal or intangible property.

  • Licensed Product means any method, process, composition, product, service, or component part thereof that would, but for the granting of the rights set forth in this Agreement, infringe a Valid Claim contained in the Licensed Patents.

  • Service credit year means an accumulation of months of

  • by-product means a product which results from preparation of a fruit or vegetable product which has a positive economic value but is not the main intended result;

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

  • Third Party Royalties means any royalties or license fees owing to a Third Party attributable to the manufacture, use or sale of Products and in consideration of a license under any patent which such Product would otherwise infringe.