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crediting of an upfront payment toward future running royalties and/or non-monet

English translation: see explanation

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15:43 Feb 17, 2005
English to English translations [Non-PRO]
Law/Patents - Law: Contract(s) / Contracts
English term or phrase: crediting of an upfront payment toward future running royalties and/or non-monet
This phrase is within a clause titled Non-applicability of a patent license contract:

...Furthermore, as to hte prospective portion of a license, the provisions set forth in 5.1 above shall not apply with respect to any license granted by X, the consideration for which consists in whole or in part of a crediting of an upfront payment toward future running royalties and/or non-monetary consideration (e.g patent rights and other rights)of such substantial value as, in the sole judgement of X, to warrant a reduction in royalty rates below the rates provided in this Agreement, or the acceptance of such payment and/or rights in lieu of royalties.
Cristina
English translation:see explanation
Explanation:
It is a prepayment or advance payment for future, continuing royalties, or instead of cash some suitable non-monetary asset, either of which will be credited to the account.
Selected response from:

bigedsenior
Local time: 18:54
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Summary of answers provided
5 +2see explanation
bigedsenior


  

Answers


36 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
see explanation


Explanation:
It is a prepayment or advance payment for future, continuing royalties, or instead of cash some suitable non-monetary asset, either of which will be credited to the account.

bigedsenior
Local time: 18:54
Native speaker of: Native in EnglishEnglish
Grading comment
Graded automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Derek Gill Franßen: ...and all of that in exchange (or as indemnity) for whatever is explained in 5.1 (probably something favorable) not applying to some part of the license. :-)
5 hrs
  -> Thanks, Derek

agree  Robert Donahue
76 days
  -> thanks, Robert
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