Common use of Reductions, Deductions and Reimbursements Clause in Contracts

Reductions, Deductions and Reimbursements. (a) Royalty Step-Down. The royalty rate set forth in Section 3.2 applicable to the Net Sales of a Product in the PRC Territory will be reduced by [...***...] ([...***...]) during any period in which there exists no Valid Claim of a Company Patent or Joint Patents in PRC that Covers such Product in the PRC Territory.

Reductions, Deductions and Reimbursements. (a) Royalty Step-Down. The royalty rate set forth in Section 3.2 applicable to the Net Sales of a Product in the PRC Territory will be reduced by [...***...] ([...***...]) during any period in which there exists no Valid Claim of a Company Patent or Joint Patents in PRC that Covers such Product in the PRC TerritoryPRC.