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.