Binder Program Products Clause Samples

Binder Program Products. If Celgene exclusively licenses the right to Develop, Manufacture and Commercialize a Listed E3 Ligand and all associated E3 Ligase Binder Products pursuant to Section 2.14.3, then Celgene shall pay to Vividion royalties on worldwide Annual Net Sales of such licensed Binder Program Products, on a Binder Program Product-by-Binder Program Product basis, as set forth below: Portion of Annual Net Sales of such Binder Program Product in the Territory by all Selling Parties, in the aggregate, up to and including [***] U.S. Dollars ($[***]). [***]% Portion of Annual Net Sales of such Binder Program Product in the Territory by all Selling Parties, in the aggregate, greater than [***] U.S. Dollars ($[***]) up to and including [***] U.S. Dollars ($[***]). [***]% Portion of Annual Net Sales of such Binder Program Product in the Territory by all Selling Parties, in the aggregate, greater than [***] U.S. Dollars ($[***]). [***]% provided, however, that the royalty rates set forth in the table above shall each be reduced by [***] percent ([***]%) (e.g., [***]% shall become [***]%) for a given Binder Program Product if, prior to the [***] for such Binder Program Product, Celgene pays to Vividion [***] U.S. Dollars ($[***]). Each royalty rate set forth in the table above will apply only to that portion of the worldwide Annual Net Sales of a given Binder Program Product in the Territory during a given Calendar Year that falls within the indicated portion. For example, if worldwide Annual Net Sales of a given Binder Program Product by Celgene and its Affiliates and sublicensees were $[***], then (provided that the royalty rates have not been reduced as described in the preceding paragraph) the royalties payable with respect to such worldwide Annual Net Sales would be:
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