Common use of Commercial License Royalty Payments Clause in Contracts

Commercial License Royalty Payments. In addition to the milestone payments under Article 3.1.2, during the Royalty Term COMPANY shall pay SELEXIS on a Final Product-by-Final Product (including Products deemed Final Products in accordance with Article 2.4, parts (b) and (c)) and country-by-country basis a royalty of [***] of Net Sales of all Final Products sold worldwide, where said Final Products have been produced from a Cell Line [***]. If Final Products have been produced from a Cell Line [***], then the royalty rate shall be [***]. Where royalties are due for the sale of Final Products directly by COMPANY such royalties shall be paid for each Calendar Quarter within [***] of the end of that Calendar Quarter. Where royalties are due for the sales of Final Product by a Sublicensee, payment shall be made within [***] of the end of that Calendar Quarter. For the avoidance of doubt, no royalty payments shall be due for a Final Product in a specific country after the Royalty Term has expired for such Final Product in such country. Where royalties are no longer due in accordance with the foregoing, the Commercial License granted to COMPANY under this Agreement shall become perpetual, irrevocable, fully paid up and royalty free with respect to such Licensed and Final Product in such country. At any time during the Term, SELEXIS and COMPANY may agree to remove the royalty in its entirety or in part in exchange for payment(s) as negotiated.

Commercial License Royalty Payments. In addition to the milestone payments under Article 3.1.2, during the Royalty Term Term, COMPANY shall pay SELEXIS on a Final Product-by-Final Product (including Products deemed Final Products in accordance with Article 2.4, parts (b) and (c)) and country-by-country basis a royalty of [***] of Net Sales of all Final Products sold worldwide, where said Final Products have been produced from a Cell Line [***]. If Final Products have been produced from a Cell Line [***], then the royalty rate shall be [***]. Where royalties are due for the sale of Final Products directly by COMPANY COMPANY, such royalties shall be paid for each Calendar Quarter within [***] of the end of that Calendar Quarter. Where royalties are due for the sales of Final Product by a Sublicensee, payment shall be made within [***] of the end of that Calendar Quarter. For the avoidance of doubt, no royalty payments shall be due for a Final Product in a specific country after the Royalty Term has expired for such Final Product in such country. Where royalties [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. are no longer due in accordance with the foregoing, the Commercial License granted to COMPANY under this Agreement shall become perpetual, irrevocable, fully paid up and royalty free with respect to such Licensed and Final Product in such country. At any time during the Term, SELEXIS and COMPANY may agree to remove the royalty in its entirety or in part in exchange for payment(s) as negotiated.