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

English translation: see explanation

15:43 Feb 17, 2005

English language (monolingual) [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

Selected answer: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.

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bigedsenior
Local time: 05:42

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bigedsenior

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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: 05:42
Native speaker of: English

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

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