12.2Confirmation of the underlying license agreement. The Golden Entities shall, within three months of the Effective Date, confirm the identity of the legally authorized holder of the underlying royalty, (b) obtain and provide Barrick with all documents required under Sections 13.1 and 13.2 of the Underlying License Agreement with respect to an assignment of the underlying license fees, including the assumption of the assignee`s obligations under the underlying license agreement. Update the applicable royalty agreement by the assignor and the registration status of the underlying royalties. Licensees with the Salta Mining Authority and (c) obtain written permission from such Licensee to assign both: (i) the underlying royalty concessions and (ii) Underling`s royalty agreement to OPCO on terms acceptable to Barrick acting reasonably. In July 2019, we entered into a licensing agreement with Michael F. Cola, Joseph J. Grano, Jr., Kathleen Jane Grano, Joseph C. Grano, The Grano Children`s Trust, Joseph C. Grano, Trustees and LeoGroup Private Investment Access, LLC on behalf of Garry A.

Neil in exchange for a one-time total payment of $2 million, which we call a license agreement. Overall, investors are entitled to a total amount equal to a small single-digit percentage of aggregate net sales of OSI products. At any time beginning three years after the date of the first public launch of an OSI product, we may, in our sole discretion, exercise a repurchase option terminating all other obligations under the Royalty Agreement in exchange for a total payment of 75% of the net present value of royalty payments to investors. PandaTip: Since contract and license law varies from jurisdiction to jurisdiction, it is important to define where this contract will be judged in the event of a legal dispute. This License Agreement is entered into on [CreatedDate Agreement] between the following parties: This License Agreement, together with all attachments, constitutes for consideration the entire agreement for the properties listed. PandaTip: The Survivability section of this template covers the process of replacing an aspect of this agreement that is considered illegal or inappropriate by a court. In the event of a breach of this Agreement, Licensor agrees to indemnify and hold harmless the beneficiary from any loss, damage or injury that may occur. Panda Tip: Just as licensor may list all representations and warranties in the section above, a similar section will be provided to the recipient in the model license agreement below. PandaTip: In the „Entire Agreement“ section, the template states that this agreement is considered the only royalty payment agreement for the listed properties. Any other promise or agreement not documented herein shall not be deemed valid. In April 2019, the Company received $6,000,000 in funds under the subscription and license agreement. See note 11.

In the interest of this Royalty Agreement, net profits shall be deemed to be the total profits realized by the Beneficiary during the term of this Agreement from the use of the Grantor`s property after payment of the following fees: In addition, this Royalty Agreement shall prevail over any prior agreement, including, but not limited to: oral or written agreements between the parties. If, at any time, one or more of the terms of this License Agreement are held to be unenforceable or void, the parties agree to replace a similar term to replace the defective term. 4. License Agreement. Effective and subject to the conclusion of (i) the U.S. Agreement for the Purchase of Electrical Equipment is amended by any reference to the „Royalty Agreement“ and (ii) the Production Royalty Agreement dated September 30. April 2007 is deleted from this Agreement by and between Seller and USE (as defined in the U.S. Power Equipment Purchase Agreement and herein as the „Royalty Agreement“), and the parties hereby agree to take such additional steps and provide documents reasonably necessary to effect termination. of the license agreement.. .