Common use of Remaining Inventories Clause in Contracts

Remaining Inventories. (A) Gilead shall be entitled, during the […***…] days following termination of this Agreement with respect to any Terminated Product(s) and Terminated Region(s), to finish any work-in-progress and to sell in the applicable Terminated Region(s) any inventory of Terminated Product(s) that remains on hand as of the effective date of such termination. Gilead shall pay Galapagos the royalties applicable to such sales in accordance with the terms and conditions of this Agreement. (B) At any time within […***…] days after the effective date of termination of this Agreement with respect to any Terminated Product(s) and Terminated Region(s), Galapagos shall have the right, upon written notice to Gilead, to purchase from Gilead any or all of the inventory of Reversion Product(s) held by Gilead with respect to any such Terminated Region(s) as of the date of such notice solely for distribution in the applicable Terminated Region(s) and other countries in the Galapagos Territory and not for distribution in the remainder of the Gilead Territory (which inventory of Reversion Product(s) is not committed to be supplied to any Third Party as of such date) at a price equal to […***…].

Remaining Inventories. (Ai) Gilead shall be entitled, during the […***…] days following termination of this Agreement with respect to any Terminated Product(s) and Terminated Region(s)Agreement, to finish any work-in-progress and to sell in the applicable Terminated Region(s) Regions any inventory of Terminated Product(s) Licensed Product that remains on hand as of the effective date of such the termination. Gilead shall pay Galapagos the royalties applicable to such sales in accordance with the terms and conditions of this Agreement. (Bii) At any time within […***…] days after the effective date of termination of this Agreement with respect to any Terminated Product(s) and Terminated Region(s), Galapagos shall have the right, upon written notice notification to Gilead, to purchase from Gilead any or all of the inventory of Reversion Product(s) Products held by Gilead with respect to any such Terminated Region(s) as of the date of such notice solely for distribution in the applicable Terminated Region(s) and other countries in the Galapagos Territory and not for distribution in the remainder of the Gilead Territory other countries (which inventory of Reversion Product(s) is that are not committed to be supplied to any Third Party or Sublicensee as of such date) at a price equal to the cost of goods for such Reversion Products calculated in accordance with industry standards (excluding […***…]) plus […***…] percent […***…]%.