Common use of Product Price to Schering Clause in Contracts

Product Price to Schering. (a) The price to be charged to Schering for supplies of finished bulk Product furnished pursuant to Article 8, FOB ICN's plant, shall be the greater of (i) [REDACTED] of Net Sales, calculated on a country-by-country basis, or (ii) ICN's Cost of Goods plus [REDACTED]. Schering shall have the right to verify ICN's cost price of Product pursuant to the procedures set forth in Section 6.10 hereof. (b) Schering shall establish an estimated sales price per unit ("Estimated Selling Price") for the Product in each country of the Territory. Schering agrees to apply the same policy in establishing the Estimated Selling Price for the Product as Schering would do in the case of its own products of similar status. Schering shall pay for all Product purchased under this Agreement within 30 days after receipt of an invoice from ICN, which shall be rendered upon shipment, based on the Estimated Selling Price, subject to adjustment for the final price as provided in Section 6.4(e). (c) Schering may change its Estimated Selling Price on a quarterly basis by notifying ICN at least fifteen (15) days prior to the beginning of any calendar quarter and such Estimated Selling Price shall then apply for the calculation of the price at which Schering shall purchase Product from ICN and all orders of Product delivered to Schering in that quarter shall be effected at said purchase price, subject to adjustment for the final price as provided in Section 6.4(e). (d) The price to be invoiced to Schering at time of shipment for supplies of finished bulk Product shall be equal to [REDACTED] of the Estimated Selling Price of the Product in the Territory, plus relevant customs duties, shipping, bulk packaging and insurance costs, which shall be the responsibility of and shall be duly paid by Schering. (e) Reconciliations of the price paid to ICN for Product based on the Estimated Selling Prices as against actual Net Sales (in order to arrive at the [REDACTED] calculation of Net Sales), shall be made by Schering on a quarterly basis within ninety (90) days of the end of each calendar quarter.

Product Price to Schering. (a) The price to be charged to Schering for supplies of finished bulk Product furnished pursuant to Article 8, FOB ICN's plant, shall be the greater of (i) [REDACTED] of Net Sales, calculated on a country-by-country basis, or (ii) ICN's Cost of Goods plus [REDACTED]. Schering shall have the right to verify ICN's cost price of Product pursuant to the procedures set forth in Section 6.10 hereof. (b) Schering shall establish an estimated sales price per unit ("Estimated Selling Price") for the Product in each country of the Territory. Schering agrees to apply the same policy in establishing the Estimated Selling Price for the Product as Schering would do in the case of its own products of similar status. Schering shall pay for all Product purchased under this Agreement within 30 days [REDACTED] after receipt of an invoice from ICN, which shall be rendered upon shipment, based on the Estimated Selling Price, subject to adjustment for the final price as provided in Section 6.4(e). (c) Schering may change its Estimated Selling Price on a quarterly basis by notifying ICN at least fifteen (15) days [REDACTED] prior to the beginning of any calendar quarter and such Estimated Selling Price shall then apply for the calculation of the price at which Schering shall purchase Product from ICN and all orders of Product delivered to Schering in that quarter shall be effected at said purchase price, subject to adjustment for the final price as provided in Section 6.4(e). (d) The price to be invoiced to Schering at time of shipment for supplies of finished bulk Product shall be equal to [REDACTED] of the Estimated Selling Price of the Product in the Territory, plus relevant customs duties, shipping, bulk packaging and insurance costs, which shall be the responsibility of and shall be duly paid by Schering. (e) Reconciliations of the price paid to ICN for Product based on the Estimated Selling Prices as against actual Net Sales (in order to arrive at the [REDACTED] calculation of Net Sales), shall be made by Schering on a quarterly basis within ninety (90) days [REDACTED] of the end of each calendar quarter.