Minimum Royalty Amounts. During the Exclusive Period, on or before each [***] following the Effective Date, Licensee will pay to the University the Minimum Royalty Amount (“MRA”) as specified in the Principal Terms & Milestones List for the indicated MRA Year, wherein MRA Year 0 begins on the [***] following the Effective Date, MRA Year 1 begins on the second [***] following the Effective Date, etc.
Appears in 5 contracts
Sources: Control Algorithm License Agreement (Beta Bionics, Inc), Device License Agreement (Beta Bionics, Inc), Device License Agreement (Beta Bionics, Inc)
Minimum Royalty Amounts. During the Exclusive Period, on or before each [***] January 1 following the Effective Date, Licensee will pay to the University the Minimum Royalty Amount (the “MRA”) as specified in the Principal Terms & Milestones List for the indicated MRA Year, wherein MRA Year 0 begins on the [***] January 1 following the Effective Date, MRA Year 1 begins on the second [***] January 1 following the Effective Date, etc.
Appears in 2 contracts
Sources: License Agreement, License Agreement (Synlogic, Inc.)
Minimum Royalty Amounts. During the Exclusive Period, on or before each [***] January 1 following the Effective Date, Licensee will pay to the University the Minimum Royalty Amount (“MRA”) as specified in the Principal Terms & Milestones List for the indicated MRA Year, wherein MRA Year 0 begins on the [***] January 1 following the Effective Date, MRA Year 1 begins on the second [***] January 1 following the Effective Date, etc.
Appears in 2 contracts
Sources: License Agreement, License Agreement