Common use of Generic Reduction Clause in Contracts

Generic Reduction. If a Generic Product for a Licensed Product is being sold in a country, the royalties payable by Nuvectis in respect of such country and such Licensed Product shall, subject to Clause 3.12, be reduced by (a) [***] percent ([***]%) from the first full Quarter after the date on which Lxxxx 0 Xxxxxxx Xxxxxxxxxxx first exists in such country, or (b) [***] percent ([***]%) from the first full Quarter after the date on which Lxxxx 0 Xxxxxxx Xxxxxxxxxxx first exists in such country, but only for so long as the applicable (Level 1 or Level 2) Generic Product is being sold in such country.

Generic Reduction. If a Generic Product for a Licensed Product is being sold in a such country, the royalties payable by Nuvectis Centry in respect of such that country and such that Licensed Product shall, subject to Clause 3.127.8, be reduced by (ai) [***] percent ([***]%) from the first full Calendar Quarter after the date on which Lxxxx 0 Xxxxxxx Xxxxxxxxxxx first exists in such country, or and (bii) [***] percent ([***]%) from the first full Calendar Quarter after the date on which Lxxxx 0 Xxxxxxx Xxxxxxxxxxx first exists in such country, but only for so long as the applicable (Level 1 or Level 2) Generic Product is being sold in such country.