Common use of Reduction for Lack of Patent Coverage and Regulatory Exclusivity Clause in Contracts

Reduction for Lack of Patent Coverage and Regulatory Exclusivity. Subject to Section 5.4.6, if during any period within the applicable Royalty Term for a country, (a) no Valid Claim of a Licensed Patent exists that Covers such Product in such country, and (b) all applicable regulatory exclusivity periods, including data exclusivity periods, have expired in such country with respect to such Product, Net Sales of such Product in such country will be reduced by [***]% for purposes of calculating the royalty owed under Section 5.4.1 for the remainder of the Royalty Term.

Reduction for Lack of Patent Coverage and Regulatory Exclusivity. Subject to Section 5.4.66.3.6, if during any period within the applicable Royalty Term for a country, (a) no Valid Claim of a Licensed an XXXX Patent exists that Covers such Product in such country, and (b) all applicable regulatory exclusivity periods, including data exclusivity periods, have expired in such country with respect to such Product, Net Sales of such Product in such country will be reduced by [***]% for purposes of calculating the royalty owed under Section 5.4.1 6.3.1 for the remainder of the Royalty Term.

Reduction for Lack of Patent Coverage and Regulatory Exclusivity. Subject to Section 5.4.66.3.6, if during any period within the applicable Royalty Term for a country, (a) no Valid Claim of a Licensed an OSIF Patent exists that Covers such Product in such xx xuch country, and (b) all applicable regulatory exclusivity periods, including data exclusivity periods, have expired in such country with respect to such Product, Net Sales of such Product in such country will be reduced by [***]% for purposes of calculating the royalty owed under Section 5.4.1 6.3.1 for the remainder of the Royalty Term.

Reduction for Lack of Patent Coverage and Regulatory Exclusivity. Subject to Section 5.4.6, if If during any period within the applicable Royalty Term for a Royalty Product in a given country, (a) no Valid Claim of a Licensed Patent exists that Covers such Royalty Product in such country, and (b) all applicable regulatory exclusivity periods, including data exclusivity periods, have expired in such country with respect to such Royalty Product, Net Sales of such Royalty Product in such country will be reduced by [***]% for purposes of calculating the royalty owed under Section 5.4.1 5.5.1 for the remainder of the Royalty Term.

Reduction for Lack of Patent Coverage and Regulatory Exclusivity. Subject to Section 5.4.6, if If during any period within the applicable Royalty Term for a country, (a) no Valid Claim of a any Licensed Patent, Vertex Agreement Patent or Joint Agreement Patent exists that that, in each case, Covers such Licensed Product in such country, and (b) all applicable regulatory exclusivity periods, including data exclusivity periods, have Regulatory Exclusivity has expired in such country with respect to such Licensed Product, Net Sales of such Licensed Product in such country will be reduced by [***]% ] for purposes of calculating the royalty owed under Section 5.4.1 7.6.1 for the remainder of the Royalty Term.