Know-How Royalty. Commencing on the first commercial sale of a given strength of the Product following NDA Approval for that strength and continuing until the end of the Term, USL shall pay Orion a know-how royalty (herein after referred to a the “Know-how Royalty”) equal to “Applicable Percentage” of USL’s Net Sales for Product during the applicable time period. “Applicable Percentage” shall mean [***] for Net Sales during the first twelve (12) months following the First Commercial Sale, whereafter the Applicable Percentage shall be [***].
Appears in 4 contracts
Samples: Quality Assurance Agreement (Osmotica Pharmaceuticals PLC), Quality Assurance Agreement (Osmotica Pharmaceuticals LTD), Quality Assurance Agreement (Osmotica Pharmaceuticals LTD)
