Common use of Irrespective of such Royalty Clause in Contracts

Irrespective of such Royalty. Rates the Licensee guarantees subject to the provisions of Clause 10.1 of this Agreement to make an annual royalty payment of no less than the Minimum Royalty: On the first breach of this minimum payment obligation the exclusivity granted hereunder will fall and a second breach shall entitle (but not compel) ERT to rescind this Agreement at its own discretion provided such rescission shall occur within 6 months of the relevant year in breach After the conclusion of each calendar year, ERT shall calculate the amount payable as Royalty based on the accounts and records submitted by the Licensee under Clause 7.1 of this Agreement. If the amount calculated is lower than the guaranteed annual royalty set out in this Clause, ERT shall invoice the Licensee the difference between the royalty received at the end of the relevant calendar year and the amount of the relevant guaranteed royalty as set out in this Clause. The Licensee shall pay such amount to ERT in accordance with Clause 8.

Irrespective of such Royalty. Rates the Licensee guarantees subject to the provisions of Clause 10.1 of this Agreement to make an annual royalty payment of no less than the Minimum Royalty: On the first breach of this minimum payment obligation the exclusivity granted hereunder will fall and a second breach shall entitle (but not compel) ERT to rescind this Agreement at its own discretion provided such rescission shall occur within 6 months of the relevant year in breach After the conclusion of each calendar year, ERT shall calculate the amount payable as Royalty based on the accounts and records submitted by the Licensee under Clause 7.1 of this Agreement. If the amount calculated is lower than the guaranteed annual royalty set out in this Clause, ERT shall invoice the Licensee the difference between the royalty royally received at the end of the relevant calendar year and the amount of the relevant guaranteed royalty as set out in this Clause. The Licensee shall pay such amount to ERT in accordance with Clause 8.