Common use of Commercial License Royalty Payments Clause in Contracts

Commercial License Royalty Payments. In addition to the milestone payments, commencing on [ ** ], COMPANY shall pay Selexis [ ** ] a royalty of [ ** ] of Net Sales of all Products sold in such country. In the case where royalties are due in respect of the sale of Product directly by COMPANY such royalties shall be paid for each Calendar Quarter within [ ** ] days of the end of that Calendar Quarter. Where royalties are due in respect of the sale of Licensed Product by a sub-licensee of COMPANY payment shall be made within [ ** ] days of the end of that Calendar Quarter. For the avoidance of doubt no royalty payments shall be [ ** ].

Commercial License Royalty Payments. In addition to During the milestone payments, commencing on [ ** ], Royalty Term COMPANY shall pay Selexis [ ** ] on a Product-by-Product and country-by-country basis a royalty of [ [** ] *]% of Net Sales of all Products sold in such countryworldwide. In the case where royalties are due in respect of the sale of Product directly by COMPANY such royalties shall be paid for each Calendar Quarter within [ [** *] days of the end of that Calendar Quarter. Where royalties are due in respect of the sale of Licensed Product by a sub-licensee of COMPANY payment shall be made within [ [** *] days of the end of that Calendar Quarter. For the avoidance of doubt no royalty payments shall be [ ** ]due in any country after the Royalty Term has expired in such country.