Non-Monetary Consideration. The Licensee shall neither enter into any agreement, nor permit any agreement to be made, under which any non-monetary Net Receipts or Net Sales are obtained or due to be obtained by the Licensee or its Affiliates, except with prior written notification to the Licensor. Where the Licensee or its Affiliates accepts Net Receipts in the form of shares, the Licensee shall, if so requested by the Licensor, pay the royalty due under this Agreement on such Net Receipts by causing the appropriate percentage number of such shares to be transferred to, and registered in the name of the Licensor. If the Parties disagree as to the cash value of any non-monetary receipt, such disagreement shall be referred to an independent expert who shall be appointed and act in accordance with the provisions of Annex 2.
Appears in 3 contracts
Sources: Intellectual Property Licence Agreement (Metsera, Inc.), Intellectual Property Licence Agreement (Metsera, Inc.), Intellectual Property Licence Agreement (Metsera, Inc.)