- 6 -
If [Petitioner's] but not Then the Percentage
royalty receipts for that portion to
exceed: be paid on will be:
Dfl Dfl Percent
2.000.000,= 4.000.000,= 94
4.000.000,= 6.000.000,= 95
6.000.000,= 8.000.000,= 96
8.000.000,= 10.000.000,= 97
10.000.000,= 98
* * * * * * *
8.3 All royalties payable to [SDI Bermuda] under this
Agreement shall be due within 28 days from the moment that
the royalties to be paid by the Sublicensees shall be due to
[petitioner]. All royalties payable to [SDI Bermuda] under
this Agreement, will be paid by [petitioner] at the option
of the [petitioner], in the same currency or in U.S. Dollars
in which the royalties due to [petitioner] are payable.
8.4 [Petitioner] shall annually provide [SDI Bermuda] with
a survey of all royalties due by the Sub-licensees and
pay [SDI Bermuda] in accordance with subsection 8.1
hereof. Any additional payments due to [SDI Bermuda]
pursuant to subsection 8.2 shall be made immediately
after the approval of the annual accounts of
[petitioner]. [SDI Bermuda] has the right to have a
representative examine [petitioner's] accounts.
Petitioner made royalty payments to SDI Bermuda, pursuant to
the Bermuda license agreement, during the years in issue, in the
following amounts:
1987 $3,583,983
1988 5,104,781
1989 5,146,862
1990 4,768,349
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Last modified: May 25, 2011