Product License Royalty Rates. Artiva shall pay to GCLC royalties on Net Sales of Products, the manufacture, use or sale of which are claimed by or use any Product Technology, on a country-by-country and Product-by-Product basis during the Product Royalty Term, as calculated by multiplying the applicable portion of aggregate Net Sales of the Product in the Territory by the corresponding royalty rate, as set forth in the table below, subject to the applicable adjustments in accordance with Section 3.2(e) below (the “Product Royalties”). Annual Net Sales of the Product in the Territory Royalty Rate For that portion of annual aggregate Net Sales of the Product less than or equal to $[***] [***] For that portion of annual aggregate Net Sales of the Product greater than [***] [***]
Product License Royalty Rates. Artiva shall pay to GCLC royalties on Net Sales of Products, the manufacture, use or sale of which are claimed by or use any Product Technology, on a country-by-country and Product-by-Product basis during the Product Royalty Term, as calculated by multiplying the applicable portion of aggregate Net Sales of the Subject Select Product in the Territory by the corresponding royalty rate, as set forth in the table below, subject to the applicable adjustments in accordance with Section 3.1(e) below (the “Product Royalties”). Annual Net Sales of the Product in the Territory Royalty Rate For that portion of annual aggregate Net Sales of the Product less than or equal to $[***] [ ***] For that portion of annual aggregate Net Sales of the Product greater than $[***] and less than or equal to $[***] [ ***] For that portion of annual aggregate Net Sales of the Product greater than $[***] and less than or equal to $[***]. [ ***] For that portion of annual aggregate Net Sales of the Product greater than $[***] [ ***]
