Common use of Prohibited Royalty Rates Clause in Contracts

Prohibited Royalty Rates. If rates of royalties provided for herein are prohibited by law or regulation in any country where a Ribozyme Product is sold, the Royalty Paying Party shall pay to the Royalty Receiving Party a royalty at the highest rate permitted in that country for a license of the type herein granted, provided that such rate is not greater than the rate applicable under this Agreement.

Prohibited Royalty Rates. If rates of royalties provided for herein are prohibited by law or regulation in any country where a Ribozyme Product is sold, [ * ] Confidential treatment requested the Royalty Paying Party shall pay to the Royalty Receiving Party a royalty at the highest rate permitted in that country for a license of the type herein granted, provided that such rate is not greater than the rate applicable under this Agreement.