4. GRANT FEES, REVENUE SHARE, AND REVENUE CEILING
4.1 If the Grant is subject to a One-Time Grant Fee according to the Grant Parameters, then the One-Time Grant Fee shall be due to Accessible IP Owner on the date you first lawfully acquire the Access Token.
4.2 If the Grant is subject to a Monthly Grant Fee according to the Grant Parameters, then the Monthly Grant Fee shall be due to Accessible IP Owner upon the date you first lawfully acquire the Access Token, and then on a recurring monthly basis thereafter.
4.3 If the Grant is subject to a Revenue Share and/or Revenue Ceiling according to the Grant Parameters, then you will be required to provide Accessible IP Owner with documentation on your applicable revenues generated in connection with your exercise of the Grant, including your Revenues to the extent applicable to the calculation of the Revenue Share and Revenue Ceiling. The Revenue Share shall be due to Accessible IP Owner within thirty (30) days of the end of each calendar month in which a Revenue Share payment accrues.
4.4 If the Grant is subject to a Revenue Ceiling according to the Grant Parameters, then your Revenues may not exceed the designated Revenue Ceiling. If your Revenues do exceed the Revenue Ceiling, then all such excess amounts will be considered a Grant Fee payable to Accessible IP Owner, and you must transfer all such amounts to the payment address specified in the “Payment- Address” tag.
4.5 If the Grant is subject to a Revenue Share and/or Revenue Ceiling according to the Grant Parameters, then you must maintain adequate books and records to evidence the calculation of the Revenue Share or Revenue Ceiling, as applicable.
4.6 If you fail to make any payments owed to Accessible IP Owner hereunder when due, you will have fifteen
(15) days from the date that the payment was due to make the payment. After such fifteen (15)-day period, then in addition to any other rights and remedies exercisable herein, Accessible IP Owner will have the right to terminate the Grant (if Grant is not tagged as “Irrevocable”), and/or take other measures to restrict your access to and use of the Accessible IP until such payments are made.
4.7 If you create Derivative Accessible IPs under the “Derivatives-Allowed-With-Reciprocal-Grant” tag or otherwise register such Derivative Accessible IPs with the Genesis Protocol Framework for additional licensing, then you may, as a licensor of such Derivative Accessible IPs, also be entitled to receive Revenue Shares or Grant Fees from subsequent Grantees of your Derivative Accessible IPs.
4.8 Depending on the Revenue Share or Grant Fee arrangement that is applicable, licensors of Accessible IPs or Derivative Accessible IPs (which could include Accessible IP Owner and/or you) may need to submit a claim to the Framework Provider for the Revenue Shares or Grant Fees that are due to licensor to receive such payment amounts.
Last updated