Common use of Distribution Process Clause in Contracts

Distribution Process. Distribution of the investigator’s share shall be made annually from the amount of net royalties if any, received during the previous fiscal year. 5.5.1 Prior to the determination of the distribution of net income, the investigator shall receive a statement of direct expenses charged against the gross income derived from an agreement. 5.5.2 Investigators shall have 30 working days to challenge the statement of direct expenses. 5.5.3 After resolution of such challenge, if any, the distribution of funds will occur. 5.5.4 Distributions to investigators are final and shall not be affected by unanticipated expenses 90 days after distribution. 5.5.5 Adjustments may be made to correct a clerical error. 5.5.6 In the case of the death of the investigator, any unpaid royalties shall be paid to the investigator’s estate unless otherwise specified. 5.5.7 In the event of any litigation, actual or imminent, or any other action to protect patent rights, distribution of royalties will be withheld until resolution of the dispute.