Spanish translation: DERECHOS POR TRANSFERENCIA DE TECNOLOGÍA
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Es un Licence Agreement.
Payments and Fees
1. XXX agrees to pay YYY a one time transfer of technology fee of US$ 200.000,00. Ten percent of the transfer of technology fee shall be remitted in U.S. dollars by wire transfer to YYY's designated U.S. bank account within thirty (30) days after the agreement gets signed. The remaining amount of the transfer of technology fee shall be remitted in U.S. dollars by wire transfer to YYY's designated U.S. bank account on a monthly basis in equal amounts of $15.000, during 10 months, being the last $30.000 paid at three hundred and sixty five (365) days after the signing of this transfer of technology agreement.
2. In consideration of the licenses granted, the “know-how” to be provided and the assistance to be delivered, XXX agrees to pay to YYY a continuing Royalty fee of 2% of its “sales price” of all “the products” sold by Horreos in the “territory B”, from the moment XXX starts producing “the products” in “the territory A”,, and during the remainder of this agreement.