During Royalty Term Sample Clauses
During Royalty Term. Licensee shall pay to Mersana royalties on Net Sales of each Licensed Product during the applicable Royalty Term for such Licensed Product in the Licensee Territory, which royalties shall be paid at the following rates as set forth below:
(a) [***] of the portion of Net Sales of such Licensed Product [***];
(b) [***] of the portion of Net Sales of such Licensed Product [***]; and
(c) [***] of the portion of Net Sales of such Licensed Product [***];
(d) For avoidance of doubt, the incremental royalty rates set forth above shall only apply to that portion of the Net Sales that falls within the indicated range of sales. By way of example, if, during a Calendar Year, Net Sales of a Licensed Product were equal to [***] dollars [***], the royalty payable by Licensee would be calculated by adding (i) the royalty due on Net Sales with respect to the first [***] dollars [***] at the first level percentage of [***] percent [***], (ii) the royalty due on Net Sales with respect to the next [***] dollars [***] at the second level percentage of [***] percent [***]. The obligation to pay royalties shall be imposed only once with respect to the same unit of such Licensed Product sold by Licensee, its Affiliates or Sublicensees; and
(e) If and for so long as there is a Biosimilar/Generic Product being sold by a Third Party in a [***] in a country in the Licensee Territory with respect to a Licensed Product, then the royalties otherwise payable by Licensee to Mersana in such country pursuant to Sections 8.3.1(a), 8.3.1(b), and 8.3.1
During Royalty Term. During the applicable Royalty Term for such Licensed Product and subject to Sections 8.4.2 and 8.5, Licensee will make non-refundable, non-creditable payments to C▇▇▇▇▇, on a Licensed Product-by-Licensed Product basis, in an amount, payable in [*] at the time of such supply, equal to [*] percent ([*]%) of the tax-excluded N▇▇ ▇▇▇▇▇ then in effect for such Licensed Product (other than with respect to a Combination Product, the tax-excluded N▇▇ ▇▇▇▇▇ for which shall be calculated as described in the definition of Net Sales), for each unit of such Licensed Product that C▇▇▇▇▇ supplies to Licensee under the Supply Agreement (the “Supply Transfer Price”).