GSK Patent Royalty Sample Clauses
The GSK Patent Royalty clause establishes the obligation for one party to pay royalties to GlaxoSmithKline (GSK) for the use of patented technology or intellectual property covered by GSK's patents. Typically, this clause outlines the percentage or amount of royalty payments, the calculation method, and the frequency of payments, applying to products or processes that utilize GSK's patented innovations. Its core practical function is to ensure GSK is compensated for the use of its intellectual property, thereby protecting its commercial interests and incentivizing continued innovation.
GSK Patent Royalty. As partial consideration for the rights granted to GSK hereunder, GSK will pay to Regulus royalties on Annual Net Sales of the Royalty-Bearing Products sold by GSK, its Affiliates or Sublicensees during a calendar year, on a country-by-country basis and Royalty-Bearing Product-by-Royalty-Bearing Product basis, in the countries of the Territory in which there is a Valid Claim within the Regulus Technology or Collaboration Technology (excluding GSK Collaboration Technology [...***...] of the Licensed Product being sold, in the amounts as follow (the “GSK Patent Royalty”). For purposes of clarity, royalties shall be payable by GSK to Regulus under this Section 6.6.1, subject to Section 6.6.2, 6.8 and Article 12, with respect to sales of a Collaboration Compound or Licensed Product that has obtained Regulatory Approval as [...***...] to the same extent as would be payable with respect to Net Sales of a Licensed Product that has obtained Regulatory Approval for the treatment of [...***...] Indication hereunder, provided, that, in no event shall GSK be obligated to pay royalties more than once with respect to the same unit of such Collaboration Compound or Licensed Product, as applicable.
(a) Subject to the provisions of Sections 6.6.1, 6.6.2 and 6.8, GSK shall pay to Regulus the royalties at the percentages as described in the table below: Up to $[...***...]m [...***...] [...***...] [...***...] >[...***...] up to [...***...] [...***...] [...***...] [...***...] >[...***...] up to [...***...] [...***...] [...***...] [...***...] > [...***...] [...***...] [...***...] [...***...]
(b) In the event any Combination Product(s) are sold, royalties on such Combination Products will be determined pursuant to Section 1.113.
(c) The royalty rates in the table above are incremental rates, which apply only for the respective increment of Annual Net Sales described in the Annual Net Sales column. Thus, once a total Annual Net Sales figure is achieved for the year, the royalties owed on any lower tier portion of Annual Net Sales are not adjusted up to the higher tier rate.
(d) Notwithstanding any of the foregoing, upon GSK’s exercise of a Terminated Program Option pursuant to Section 4.2.3:
(i) before the achievement of [...***...], GSK shall pay Regulus royalties at [...***...] of the [...***...] set forth above; (ii) after the achievement of [...***...], but prior to the [...***...] for such Program, then GSK shall pay Regulus royalties at the [...***...] set forth above; and
GSK Patent Royalty. As partial consideration for the license granted to GSK hereunder, GSK will pay to Regulus royalties on Annual worldwide Net Sales of any SPC-3649 Product sold by GSK, its Affiliates or Sublicensees during a calendar year, on a country-by-country basis, in the Field in the countries of the Territory in which there is a Valid Claim in the Field within the Regulus Patents, which covers the [[***] SPC-3649 or such SPC-3649 Product, in the amounts as follow (the “GSK Patent Royalty”). For purposes of clarity, in no event shall GSK be obligated to pay royalties more than once with respect to the same unit of SPC-3649 Product and GSK shall owe no royalties or milestones to Regulus, its Affiliates, Founding Companies, or anyone on behalf of Regulus, its Affiliates, or Founding Companies, on SPC-3649 Product under any terms of the Existing Collaboration.
(a) GSK shall pay to Regulus the royalties at the percentages as described in the table below: up to $1000m [***] % $1000m up to $2000m [***] % $2000m up to $3000m [***] % > $3000m [***] %
(b) In the event any Combination Product(s) are sold, royalties on such Combination Products will be determined pursuant to the definition of “Net Sales” on Exhibit A.
(c) The royalty rates in the table above are incremental rates, which apply only for the respective increment of Annual worldwide Net Sales described in the Annual worldwide Net Sales column. Thus, once a total Annual worldwide Net Sales figure is achieved for the year, the royalties owed on any lower tier portion of Annual worldwide Net Sales are not adjusted up to the higher tier rate.