Common use of Reduced Royalty Rate Clause in Contracts

Reduced Royalty Rate. (i) If a Royalty Product is generating Net Sales in a country during the applicable Royalty Period at a time when there is no Valid Claim covering such Royalty Product in such country of sale within the Trubion Patent Rights or the Facet Applied Patent Rights, then the royalty rate applicable to Net Sales of such Royalty Product in such country shall be reduced by [ * ] percent ([ * ]%) of the applicable royalty rate set forth in Section 9.5(a)-(d).

Reduced Royalty Rate. (i) If a Royalty Product is generating Net Sales in a country during the applicable Royalty Period at a time when there is no Valid Claim covering such Royalty Product in such country of sale within the Trubion Patent Rights or the Facet Applied Patent Rights, then the royalty rate applicable to Net Sales of such Royalty Product in such country shall be reduced by [ * [*] percent ([ * ]%) of the applicable royalty rate set forth in Section 9.5(a)-(d).

Reduced Royalty Rate. (i) If a Royalty Product is generating Net Sales in a country during the applicable Royalty Period at a time when there is no Valid Claim covering such Royalty Product in such country of sale within the Trubion Patent Rights or the Facet Applied Patent Rights, then the royalty rate applicable to Net Sales of such Royalty Product in such country shall be reduced by [ * ] percent ([ * ]%) of the applicable royalty rate set forth in Section 9.5(a)-(d).