Common use of Royalties and Milestones Clause in Contracts

Royalties and Milestones. 6.1. In countries where manufacture, sale, offer for sale, import, or use of Licensed Products is [* * *], the royalty rate shall be: [* * *] of Net Sales for any Derived Product(s) by LICENSEE derived from use of Technology in Screening Capacity which may not be reduced by any provision of the this Agreement. [* * *] of Net Sales of any Licensed Product by LICENSEE which may not be reduced to less than [* * *] by any term or provision of the this Agreement. The minimum annual royalty (MAR) shall be $[* * *] due upon the first occurrence of Net Sales of Licensed Product and annually thereafter. The MAR shall be creditable and carry forwardable against future royalties. [* * *] of Net Sales from Licensed Service by LICENSEE which may not be reduced by any provision of this Agreement. If a product is both a Licensed Product and a Derived Product, it shall only be subject to the royalty payable as a Licensed Product. No matter how many Licensed Patents are involved in any one such product or service, only one royalty, the higher royalty of those listed above, shall be due. REGENTS shall not be entitled to any royalties on Sales of Licensed Products or Derived Products or Licensed Services by Sublicensees, but shall be entitled to the percentage of sublicense royalties and other fees received by LICENSEE set forth in paragraph 4.2 of this Agreement.