Common use of Commercial License Royalty Payments Clause in Contracts

Commercial License Royalty Payments. In addition to the foregoing milestone payments, during the 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 worldwide. In the case where royalties are due in respect of the sale of Product [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. directly by COMPANY such royalties shall be paid for each Calendar Quarter within forty-five (45) days of the end of that Calendar Quarter. Where royalties are due in respect of the sale of Products by a sub-licensee of COMPANY, payment shall be made within ninety (90) 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. Where royalties are no longer due in accordance with the foregoing in respect of any Product in any country, the Commercial Licenses granted to COMPANY under this Agreement shall become perpetual, irrevocable, fully paid up and royalty free in respect of such Product in such country and notwithstanding Section 2.3, COMPANY shall have the right to transfer the Selexis Materials to any Third Party in connection with the manufacture, use and sell of such Product in such country.

Commercial License Royalty Payments. In addition to the foregoing milestone payments, during the Royalty Term, 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 worldwide. In the case where royalties are due in respect of the sale of Product [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. directly by COMPANY such royalties shall be paid for each Calendar Quarter within forty-five (45) days of the end of that Calendar Quarter. Where royalties are due in respect of the sale of Products by a sub-licensee of COMPANY, COMPANY payment shall be made within ninety (90) 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. country Where royalties are no longer due in accordance with the foregoing in respect of any Product in any country, the Commercial Licenses Licences granted to COMPANY under this Agreement shall become perpetual, irrevocable, [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. fully paid up and royalty free in respect of such Product in such country and notwithstanding Section 2.3, COMPANY shall have the right to transfer the Selexis Materials to any Third Party in connection with the manufacture, use and sell of such Product in such country.