Common use of Basic Royalty Clause in Contracts

Basic Royalty. In consideration of the license granted hereunder, MBI shall pay to UHN, without duplication, in respect of each Licensed Product: (a) in each country in the Territory where the Licensed Product sold is covered by one or more Valid Claims within the Licensed Patents, either in the country of manufacture or in the country of sale, a royalty of [*]% of Net Revenues of such Licensed Product received by MBI and its Affiliates; and (b) in each country in the Territory where there is no Valid Patent Claim either in the country of manufacture or in the country of sale, but Licensed Technology is necessary to make, have made, use, sell, offer for sale or import the Licensed Product, either in the country of manufacture or in the country of sale, a royalty of [*]% of Net Revenues received by MBI and its Affiliates; * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. in each of Subsections 3.4(a) and 3.4(b), until the later of either: (c) the date of expiration of the last Valid Patent Claim within the Licensed Patents covering the Licensed Product in the country of manufacture or sale, as applicable; or (d) the expiration of 15 years after the first commercial sale of such Licensed Product in the country of sale. After the first commercial sale of a Licensed Product incorporating a Valid Patent Claim under the Licensed Technology in any jurisdiction in the Territory, the royalties under this Section 3.4 shall be subject to a cumulative minimum payment of $[*] in each Quarter Yearly Period during the Term. For purposes of clarification, no multiple royalties shall be due or payable under this Section 3.4 because the sale or manufacture of any Licensed Product is or shall be covered by more than one Valid Patent Claim within the Licensed Patents in the country of manufacture and/or the country of sale.

Basic Royalty. In consideration of the license granted hereunder, MBI shall pay to UHN, without duplication, in respect of each Licensed Product: (a) in each country in the Territory where the Licensed Product sold is covered by one or more Valid Claims within the Additional Licensed Patents, either in the country of manufacture or in the country of sale, a royalty of [*]% of Net Revenues of such Licensed Product received by MBI and its Affiliates; andand * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. (b) in each country in the Territory where there is no Valid Patent Claim either in the country of manufacture or in the country of sale, but Additional Licensed Technology is necessary to make, have made, use, sell, offer for sale or import the Licensed Product, either in the country of manufacture or in the country of sale, a royalty of [*]% of Net Revenues received by MBI and its Affiliates; * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. in each of Subsections 3.4(a) and 3.4(b), until the later of either: (c) the date of expiration of the last Valid Patent Claim within the Additional Licensed Patents covering the Licensed Product in the country of manufacture or sale, as applicable; or (d) the expiration of 15 years after the first commercial sale of such Licensed Product in the country of sale. After the first commercial sale of a Licensed Product incorporating a Valid Patent Claim under the Additional Licensed Technology in any jurisdiction in the Territory, the royalties under this Section 3.4 shall be subject to a cumulative minimum payment of $[*] in each Quarter Yearly Period during the Term. For purposes of clarification, no multiple royalties shall be due or payable under this Section 3.4 because the sale or manufacture of any Licensed Product is or shall be covered by more than one Valid Patent Claim within the Additional Licensed Patents in the country of manufacture and/or the country of sale.