or the acceptance of such payment and/or rights in lieu of royalties
Spanish translation: o la aceptación de tal pago y / o derechos en lugar de las regalías
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16:54 Feb 17, 2005
English to Spanish translations [PRO] Law/Patents - Law: Patents, Trademarks, Copyright / Contract
English term or phrase: or the acceptance of such payment and/or rights in lieu of royalties
Clause titled: Non-applicability, of a patent license contract.
"The provisions set forth in 5.1 above shall not apply with respect to any license granted to 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(eg, patent rights and/or 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."