Common use of Lack of Valid Claims Clause in Contracts

Lack of Valid Claims. Subject to Section 11.7.3 (Cumulative Effect of Royalty Reductions), on a Product-by-Product and country-by-country basis in the Territory, during any period of the Royalty Term for a Product in such country (other than any U.S. [***] Product) in which such Product is not Covered by a Valid Claim in such country, then Royalties due to HMI under Section 11.7.1 (Royalty Rates) for such Product in such country will be reduced by [***]% during any such period until the expiration of the Royalty Term for such Product in such country.

Lack of Valid Claims. Subject to Section 11.7.3 (Cumulative Effect of Royalty Reductions), on a Product-by-Product and country-by-country basis in the Territory, during any period of the Royalty Term for a Product in such country (other than any U.S. [***] SCD Product) in which such Product is not Covered by a Valid Claim in such country, then Royalties due to HMI under Section 11.7.1 (Royalty Rates) for such Product in such country will be reduced by [***]% during any such period until the expiration of the Royalty Term for such Product in such country.