Minimum Royalties Sample Clauses

Minimum Royalties. (a) For each completed calendar year during the term of this License Agreement, Licensee shall pay Licensor the following minimum royalty payments (“Annual Minimum Royalty”): Calendar Year Minimum Royalty 2009 0 2010 $ 500,000 2011 $ 750,000 2012 and beyond $ 1,000,000 (b) If the actual Royalties to Licensor in any calendar year are less than the Annual Minimum Royalty payment required for the specified year, Licensee may pay Licensor the difference between the actual Royalties during the applicable calendar year and the Annual Minimum Royalty payment in full satisfaction of its obligations under this Section 3.5 within sixty (60) days after the end of the applicable calendar year. [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. (c) If in any calendar year Licensee fails to make the Annual Minimum Royalty payment and does not cure such failure within fifteen days (15) after written notice by Licensor, Licensor may, in its sole discretion, immediately upon written notice to Licensee, terminate this License Agreement or convert the exclusive license into a non-exclusive license, at which point there shall be no restrictions on Licensor’s ability to exploit or grant licenses under the Patent Rights, including Licensor’s right to grant additional licenses to Third Parties under the Patent Rights in the Field and in the Professional Channel. Waiver of any Annual Minimum Royalty payment by Licensor is not a waiver of any subsequent Annual Minimum Royalty payment. (d) Net Sales attributable to Licensed Products manufactured by Licensor on behalf of Licensee as contemplated under Section 5 shall be credited against the applicable Annual Minimum Royalty (as if earned Royalties had been paid on sales of such Licensed Products).

Minimum Royalties. The minimum annual royalties to be paid by Licensee hereunder, commencing with the granting of a license to Produce from Grantor to Licensee will be $20,000.00. The minimum annual royalties to be paid hereunder are non-accumulative.

Minimum Royalties. In the event that, following the first Sale of a Licensed Product (“First Sale”), the aggregate royalties paid to LICENSOR pursuant to Section 3.2 hereof during any calendar year after the calendar year in which the First Sale occurs do not exceed the minimum royalty set forth in APPENDIX E, COMPANY shall pay to LICENSOR no later than [* * *] following the last day of such calendar year the difference between such minimum royalty amount and the actual royalties paid. This Section 3.3 shall terminate upon expiration of the last Valid Claim of a Licensed Patent in the United States.

Minimum Royalties. Beginning on the third (3rd) anniversary of the Effective Date, Licensee shall pay CSMC a minimum royalty of $10,000 per year (“Minimum Royalty”). Each annual payment of the Minimum Royalty shall be credited against Royalties payable such that no Royalties shall be payable unless the Royalties for such annual period exceed $10,000; provided, that excess amounts paid in respect of the Minimum Royalty may not be carried over to the following calendar year.

Minimum Royalties. (a) In partial consideration of the License, commencing with the first Sale of a Licensed Product, Company will also pay to Penn the amount, if any, that the applicable minimum royalty listed in the table below exceeds Penn’s earned royalties on Net Sales of Licensed Products. QUARTER: First 4 Quarters Next 4 Quarters Next 4 Quarters All Quarters thereafter MINIMUM: [**] [**] [**] [**]

Minimum Royalties. Licensee shall pay Licensor the following minimum annual royalty amounts in each calendar year listed next to such amount. No minimum annual royalty described in this Subsection 4.1.4 shall be credited against or otherwise reduce any other amounts payable hereunder. For a particular calendar year, in the event that the sum of the earned royalties on Net Sales timely paid in accordance with Subsection 4.1.3 above with respect to the four calendar quarters of such calendar year are less than the minimum annual royalty for such year designated below, the obligation to pay the difference to Licensor shall accrue on the last day of such calendar year and be payable by Licensee no later than [***] ([***]) days following the end of such calendar year:

Minimum Royalties. (a) Notwithstanding the provisions of Section 5.3, ▇▇▇▇▇▇▇ shall pay DTI minimum annual royalties after launch of the Initial Product in any country of the Territory in an amount equal to * of Forecast Net Sales (defined below) multiplied by the applicable royalty rate pursuant to Section 5.3. For example, if the Forecast Net Sales are $200 million, then the minimum royalties would be calculated as follows: $200,000,000 x * (Net Sales amount on which minimum royalties will be calculated) * Total Minimum Royalties Due: * All earned royalties paid by ▇▇▇▇▇▇▇ pursuant to Section 5.3 shall be fully creditable against minimum royalties. (b) As used in this Section 5.4, Forecast Net Sales shall be ▇▇▇▇▇▇▇'▇ projected Net Sales for the Licensed Products in the Territory during the relevant calendar year ("Commercialization Year"), with the first Commercialization Year being the calendar year of launch of the Initial Product in the first country of the Territory. ▇▇▇▇▇▇▇ shall deliver to DTI, not later than forty-five (45) days prior to launch of the Initial Product in such country, and thereafter on or before November 15 of each calendar year its projected Net Sales of Licensed Products in the Territory for the relevant Commercialization Year. Notwithstanding the foregoing, after the first Commercialization Year which includes a full calendar year, ▇▇▇▇▇▇▇'▇ minimum royalty obligation shall be calculated on Forecast Net Sales in an amount not less than * of ▇▇▇▇▇▇▇ actual Net Sales in the previous Commercialization Year. (c) ▇▇▇▇▇▇▇'▇ minimum royalty obligation shall expire as to a particular country in the event any of the following occur: (i) The expiration, lapse or invalidation of the last remaining DTI patents in such country which contains a valid and unexpired claim covering the sale of the Initial Product and a third party launches a generic form of the Initial Product delivered by a transdermal patch; -------------------------------------------------------------------------------- * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. -------------------------------------------------------------------------------- (ii) A third party launches a new product approved for marketing and sale in any country of the Territory for the treatment of ▇▇▇▇▇▇▇▇▇'▇ Disease, which achieves a 10% share of the total annual worldwid...

Minimum Royalties. Within 2 business days from the Effective Date hereof, LICENSEE shall pay to LICENSOR a minimum royalty fee of $25,000 in cash or by wire transfer. In addition, commencing 12 months following the Effective Date, LICENSEE shall pay to LICENSOR additional minimum royalty fees equal to the difference between total Royalties actually paid in the preceding 12 months and the following minimum amounts: At 12 months, $5,000 At 24 months, $5,000 At 36 months, $5,000 Annually thereafter, $10,000.

Minimum Royalties. (i) During the Term, Licensee shall pay to Licensor a minimum royalty consisting of an advance payment to be applied against a minimum guarantee for the Term. The amounts of the advance and minimum guarantee and the payment dates for such amounts are specified in Schedule F. No part of any such minimum royalty for the Term shall in any event be repayable to Licensee. Any royalty payments received by Licensor which exceed the Term's minimum royalty shall not be credited toward the next succeeding term's minimum royalty. (ii) The royalties due from Licensee to Licensor pursuant to Paragraph 4 (a) with respect to sales made of Licensed Products during the Term shall be applied first against any advance payment made to Licensor for the Term. After such advance payment has been recouped for the Term, all royalties due with respect to sales made of Licensed Products during the Term that are in excess of the advance payment made to Licensor for the Term shall be paid by Licensee to Licensor in accordance with this Paragraph 4. If as of the date the minimum guarantee is due for the Term, the total of the advance payments and royalty payments made to Licensor with respect to sales made of the Licensed Products during the Term is less than the minimum guarantee for the Term, Licensee shall pay to Licensor on the expiration of the Term the difference between the minimum guarantee less all prior advance payments and royalty payments made by Licensee to Licensor with respect to the Term. Licensee shall also pay to Licensor when due any royalty payments due with respect to sales of Licensed Products made during the last quarter of the Term and the sell off period to the extent that such royalty payments exceed the difference between the minimum guarantee for the Term less all prior advance payments and royalty payments made by Licensee to Licensor with respect to the Term. (iii) During any renewal term (“Renewal Term”), Licensee shall also pay Licensor a minimum royalty consisting of an advance payment to be applied against a minimum guarantee for the Renewal Term. The amounts of the Renewal Term advance and minimum guarantee and the payment dates for such amounts are specified in Schedule F. No part of any such minimum guarantee for the Renewal Term shall in any event be repayable to Licensee. Any royalty payments received by Licensor which exceed the Renewal Term=s minimum royalty shall not be credited toward the prior Term or the next succeeding, if any, Renewal Term...