Royalty Payment Calculation. Licensee will pay Lilly a royalty (the “Royalty Payment”) during the Royalty Term based upon Net Sales of Product during each Calendar Year. Except as set forth in Section 3.3 below, the following royalty percentages will apply: Net Sales of Product During a Calendar Year Royalty Percentage on Net Sales of Product in Jurisdictions in Which a Valid Claim Exists $0 to $200,000,000 10% $200,000,000 - $400,000,000 12% More than $400,000,000 18%
Royalty Payment Calculation. Licensee will pay Lilly a royalty (the “Royalty Payment”) during the Royalty Term based upon Net Sales of Product during each Calendar Year. Except as set forth in Section 3.3 below, the following royalty percentages will apply: Royalty Percentage on Net Sales of Net Sales of Product During a Product in Jurisdictions in Which a Calendar Year Valid Claim Exists $ [***] [***]% $[***]-$[***] [***]% [***] $[***] [***]%
Royalty Payment Calculation. InterMune will pay Lilly a royalty (a "Royalty Payment") during the Royalty Term based upon Net Sales of Product during each Calendar Year. Except as set forth in Section 2.3(b) and (c), below, the following royalty percentages will apply:
Royalty Payment Calculation. In the event certain Net Sales are subject to the royalty reductions set forth in Section 7.5, Merck shall calculate the royalty rates as follows: Merck shall allocate the Net Sales during a particular Calendar Quarter to the relevant Net Sales band set forth in Section 7.3 (a), and shall calculate the proportion of Net Sales within such band that are: (i) not subject to any royalty reduction pursuant to Section 7.5 (to which the full royalty rate in Section 7.3 (a) shall apply); and (ii) subject to a royalty reduction pursuant to Section 7.5 (to which the applicable percentage of the royalty rate in Section 7.3(a) shall apply). Notwithstanding the terms of Section 7.5, the maximum reductions taken in the aggregate under Section 7.5 shall not reduce the effective royalty rate applicable to Net Sales by more than [*] percent ([*]%) of the rate set forth in Section 7.3(a). By way of example, pursuant to Section 7.3(a), the royalty rate without reductions for the first $[*] in Net Sales is [*]%, then, if, pursuant to Section 7.5 the effective royalty rate after all reductions would be lower than [*]%, then the effective royalty rate shall be set at [*]%.
Royalty Payment Calculation. In the event certain Net Sales are subject to the royalty reductions set forth in Section 7.5, Merck shall calculate the royalty rates as follows: Merck shall allocate the Net Sales during a particular Calendar Quarter to the relevant Net Sales band set forth in Section 7.3 (a), and shall calculate the proportion of Net Sales within such band that are:
Royalty Payment Calculation. In the event certain Net Sales are subject to the royalty reductions set forth in Section 7.6, Ipsen shall calculate the royalty reductions as follows: Ipsen shall calculate the proportion of total Net Sales for the applicable period that are subject to royalty reduction of a particular percentage pursuant to Section 7.6 and shall apply the appropriate royalty reduction as if the Net Sales entitled to that reduction percentage make up that proportion of Net Sales within each of the relevant Net Sales bands.
