The Royalty Assignment Agreement is utilized when a party wishes to transfer their right to receive royalty payments to another entity, whether through sale, gift, or other arrangement. This document is crucial in the United States for establishing clear ownership and transfer of royalty rights, which can arise from various sources including intellectual property, natural resources, or other assets. The agreement typically includes detailed information about the underlying rights, payment terms, warranties, and representations. It's particularly important to ensure compliance with both federal and state laws governing assignments and intellectual property rights.
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1. Parties: Identifies all parties to the agreement, including legal names and addresses
2. Background/Recitals: Explains the context and purpose of the agreement, including the nature of the royalties being assigned
3. Definitions: Defines key terms used throughout the agreement, including 'Royalties', 'Assigned Rights', 'Effective Date'
4. Assignment: Core provision detailing the transfer of royalty rights from assignor to assignee
5. Consideration: Specifies the payment or other consideration for the assignment
6. Representations and Warranties: Assurances regarding ownership, right to assign, and absence of encumbrances
7. Term and Termination: Duration of the agreement and circumstances for termination
8. Governing Law: Specifies applicable jurisdiction and legal framework
1. Further Assurance: Commitment to execute additional documents if needed for full effect of the assignment
2. Anti-Assignment: Restrictions on further assignment of rights by the assignee
3. Confidentiality: Provisions protecting sensitive information related to the royalty rights
4. Tax Provisions: Allocation of tax responsibilities between assignor and assignee
1. Schedule of Royalty Rights: Detailed description of royalties being assigned including source, calculation method, and payment terms
2. Payment Schedule: Details of payment arrangements if consideration is to be paid in installments or subject to conditions
3. Underlying Agreements: Copies or summaries of agreements generating the royalty rights being assigned
4. Due Diligence Documents: Documentation proving ownership and chain of title for the royalty rights
Relevant legal definitions
Agreement
Assigned Rights
Assignor
Assignee
Effective Date
Royalties
Royalty Rights
Underlying Agreement(s)
Intellectual Property Rights
Consideration
Payment Date(s)
Encumbrances
Confidential Information
Business Day
Permitted Assigns
Territory
Term
Relevant Period
Original Rights Holder
Related Rights
Royalty Payment(s)
Royalty Rate
Payment Account
Royalty Statement
Force Majeure
Material Adverse Change
Governmental Authority
Applicable Law
Intellectual Property
Security Interest
Assigned Rights
Assignor
Assignee
Effective Date
Royalties
Royalty Rights
Underlying Agreement(s)
Intellectual Property Rights
Consideration
Payment Date(s)
Encumbrances
Confidential Information
Business Day
Permitted Assigns
Territory
Term
Relevant Period
Original Rights Holder
Related Rights
Royalty Payment(s)
Royalty Rate
Payment Account
Royalty Statement
Force Majeure
Material Adverse Change
Governmental Authority
Applicable Law
Intellectual Property
Security Interest
Clauses
Assignment
Consideration
Representations and Warranties
Further Assurance
Payment Terms
Confidentiality
Indemnification
Governing Law
Jurisdiction
Force Majeure
Notices
Assignment and Transfer
Amendment and Modification
Entire Agreement
Severability
Waiver
Third Party Rights
Cooperation
Tax Matters
Record Keeping
Audit Rights
Dispute Resolution
Term and Termination
Survival
Counterparts
Authority
Non-Competition
Security Interest
Registration Rights
Compliance with Laws
Consideration
Representations and Warranties
Further Assurance
Payment Terms
Confidentiality
Indemnification
Governing Law
Jurisdiction
Force Majeure
Notices
Assignment and Transfer
Amendment and Modification
Entire Agreement
Severability
Waiver
Third Party Rights
Cooperation
Tax Matters
Record Keeping
Audit Rights
Dispute Resolution
Term and Termination
Survival
Counterparts
Authority
Non-Competition
Security Interest
Registration Rights
Compliance with Laws
Relevant Industries
Relevant Teams
Relevant Roles
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