Common use of Patent Royalties Clause in Contracts

Patent Royalties. In accordance with Section 5.4, PFIZER shall pay to XXXXX royalties on Net Sales of each Research Product as follows: (x) from the period beginning on the Effective Date and ending on the last day of Pfizer Year [*******] the Net Sales of[***********************] shall be [******************] for the purpose of determining whether Net Sales of [**********************************************] in the has been achieved in the Territory in any Pfizer Year, and PFIZER shall pay to XXXXX royalties [******************] at the Base Royalty Rate, [****************************] and (y) thereafter, the [**********] of [***********************] shall be calculated without [********************************************* ********************] for the purpose of determining whether Net Sales of [**************] has been achieved in the Territory in any Pfizer Year, and PFIZER shall pay to XXXXX royalties on [************] as follows: with respect to [************************]: (i) a royalty of [****************] of the aggregate Net Sales of all such Research Products for the portion of such Net Sales in the Territory in a Pfizer Year below or equal to [**************************************] and (ii) a royalty of [******************] of the aggregate Net Sales of all such Research Products for the portion of such Net Sales in the Territory in a Pfizer Year in excess of [**************************************] (the royalty rates in clauses (x) and (y) being referred to as the “Research Product Base Patent Royalty Rates”.

Patent Royalties. In accordance with Section 5.4, PFIZER shall shall, on a country-by-country basis, pay to XXXXX royalties on Net Sales of with respect to each Research Product as followsembraced by a Valid Claim in such country: (x) from the period beginning on the Effective Date and ending on the last day a royalty of Pfizer Year [***************] of the Net Sales ofof each such Product for the portion of such Net Sales in the Territory in a Pfizer Year below or equal to [********************************] and (y) a royalty of [*******************] of the Net Sales of each such Product for the portion of such Net Sales in the Territory in a Pfizer Year in excess of [********************] (the royalty rates in clauses (x) and (y) being referred to as the “Base Patent Royalty Rates”). Notwithstanding anything to the contrary contained herein: (A) for the period beginning on the Effective Date and ending on the last day of Pfizer Year [******] the Sales of [******************************************************************************** ******** ************************************* ***] for the purpose of determining whether Net Sales of [**********************] has been achieved in the Territory in any Pfizer Year and PFIZER shall pay to XXXXX royalties on [*************] at the Base Royalty Rate (as defined below), [*************]; and (B) thereafter, the [***************] shall be calculated [***************************************************************] for the purpose of determining whether Net Sales of [**********************************************] in the has been achieved in the Territory in any Pfizer Year, and PFIZER shall pay to XXXXX royalties [******************] at the Base Royalty Rate, on Net Sales of [****************************] and (y) thereafter, the [**********] of from [***********************] shall be calculated without [********************************************* ********************] for the purpose of determining whether Net Sales of [**************] has been achieved in the Territory in any Pfizer Year, and PFIZER shall pay to XXXXX royalties on [************] as follows: with respect to [************************]: (i) a royalty of [****************] of the aggregate Net Sales of all such Research Products for the portion of such Net Sales in the Territory in a Pfizer Year below or equal to [**************************************] and (ii) a royalty of [******************] of the aggregate Net Sales of all such Research Products for the portion of such Net Sales in the Territory in a Pfizer Year in excess of [**************************************] (at the royalty rates in clauses (x) and (y) being referred to as the “Research Product Base Patent Royalty Rates”Rate.