definiens: means all royalties, all other payments, and any equity Licensee receives fromSublicensees, of which University and/or Niigata is owed a percentage ; provided, however, that Sublicense Income shallspecifically exclude ( i ) payments made in consideration for the issuance of equity or debt securities of Licensee at fairmarket value ( but shall specifically include any payments received by Licensee from the issuance of securities ofLicensee to the extent such payments are in excess of fair market value ), ( ii ) equity or debt securities of a Sublicenseeissued to Licensee if acquired by Licensee at fair market value, and ( iii ) payments specifically committed to researchfunding or development activities, or reimbursements of the same . In the event of a sublicense as contemplated herein, such sublicense shall state explicitly the consideration provided in exchange for University Technology or NiigataTechnology or Patents