Common use of Rate Step Down For Competing Product Entrants Clause in Contracts

Rate Step Down For Competing Product Entrants. With respect to any particular Product in the Territory, if in any Calendar Quarter there is a Market Reduction of such Product (based on prescription market data published by IMS Health, Xxxxx-Xxxxx, or such other industry standard source as the Parties may agree), then the royalty rates which would otherwise apply to Net Sales of such Product during such Calendar Quarter will be reduced to [...***...] percent ([…***…]%). Such reduced royalty rates will continue in effect, on a Product-by-Product basis, until expiration of the applicable Royalty Term. As used in this Section 8.1.3, the term “Market Reduction” of a Product in a Calendar Quarter occurs when (i) the cumulative share achieved by Competing Products for such Product commercialized by Third Parties in such […***…] of the […***…] in the Territory of the Product and Competing Products and (ii) the sales of the Product(s) in such […***…] are reduced by […***…] to the […***…] in which the […***…] of a Competing Product occurred. The example set forth in Schedule 8.1.3 illustrates the application of this Section 8.1.3.

Rate Step Down For Competing Product Entrants. With respect to any particular Product in the Territory, if in any Calendar Quarter there is a Market Reduction of such Product (based on prescription market data published by IMS Health, Xxxxx-Xxxxx, or such other industry standard source as the Parties may agree), then the royalty rates which would otherwise apply to Net Sales of such Product during such Calendar Quarter will be reduced to [...*** percent (***...] percent ([…***…]%). Such reduced royalty rates will continue in effect, on a Product-by-Product basis, until expiration of the applicable Royalty Term. As used in this Section 8.1.3, the term “Market Reduction” of a Product in a Calendar Quarter occurs when (i) the cumulative share achieved by Competing Products for such Product commercialized by Third Parties in such […***…] * of the […***…] * in the Territory territory of the Product and Competing Products and (ii) the sales of the Product(s) in such […***…] * are reduced by […***…] * to the […***…] * in which the […***…] * of a Competing Product occurred. The example set forth in Schedule 8.1.3 illustrates the application of this Section 8.1.3.

Rate Step Down For Competing Product Entrants. With respect to any particular Product in the Territory, if in any Calendar Quarter there is a Market Reduction of such Product (based on prescription market data published by IMS Health, Xxxxx-Xxxxx, or such other industry standard source as the Parties may agree), then the royalty rates which would otherwise apply to Net Sales of such Product during such Calendar Quarter will be reduced to [...*** percent (***...] percent ([…***…]%). Such reduced royalty rates will continue in effect, on a Product-by-Product basis, until expiration of the applicable Royalty Term. As used in this Section 8.1.3, the term “Market Reduction” of a Product in a Calendar Quarter occurs when (i) the cumulative share achieved by Competing Products for such Product commercialized by Third Parties in such […*** of the *** in the *** of the ***…] of the […***…] in the Territory of the Product and Competing Products and (ii) the sales ii)the sale *** of the Product(s) Products *** in such […***…] are reduced by […***…] * to the […***…] * in which the […***…] * of a Competing Product occurred. The example set forth in Schedule 8.1.3 illustrates the application of this Section 8.1.3.