Common use of Royalty Rate; Royalty Term Clause in Contracts

Royalty Rate; Royalty Term. On a Product-by-Product basis, XXXXX shall pay to AMGEN the following tiered royalties on annual Net Sales of each Product sold by a Selling Party during the Royalty Term applicable to such Product: (a) [***] percent ([***]%) on the portion of annual Net Sales of such Product less than [***] U.S. Dollars ($[***]); (b) [***] percent ([***]%) on the portion of annual Net Sales of such Product equal to or greater than [***] U.S. Dollars ($[***]) but less than [***] U.S. Dollars ($[***]); (c) [***] percent ([***]%) on the portion of annual Net Sales of such Product that is equal to or greater than [***] U.S. Dollars ($[***]) but less than [***] U.S. Dollars ($[***]); and (d) [***] percent ([***]%) on the portion of annual Net Sales of such Product that is equal to or greater than [***] U.S. Dollars ($[***]). Royalties will be payable on a quarterly basis; any such payments shall be made within [***] ([***]) days after the end of the calendar quarter during which the applicable Net Sales occurred. XXXXX’x obligation to pay royalties with respect to each Product in a particular country shall commence upon the First Commercial Sale of such Product in such country and shall expire on a country-by-country and Product-by-Product basis on the later of (i) the date on which the Exploitation of such Product is no longer Covered by a Valid Claim of a Licensed Patent or Program Patent in such country or (ii) the tenth (10th) anniversary of the First Commercial Sale of such Product in such country (the “Royalty Term”).

Royalty Rate; Royalty Term. On a Product-by-Product basis, XXXXX RBNC shall pay to AMGEN the following tiered royalties on annual Net Sales in the Territory of each Product sold by a Selling Party during the Royalty Term applicable to such Product: (a) [***] percent ([***]%) on of the portion of annual Net Sales of such Product in the Territory less than [***] U.S. Dollars ($[***]); (b) [***] percent ([***]%) on of the portion of annual Net Sales of such Product in the Territory greater than or equal to or greater than [***] U.S. Dollars ($[***]) but less than [***] U.S. Dollars ($[***]); (c) [***] percent ([***]%) on of the portion of annual Net Sales of such Product in the Territory greater than or equal to [***] but less than [***]; (d) [***] of the portion of annual Net Sales of such Product in the Territory that is equal to or greater than [***] U.S. Dollars ($[***]) but less than [***] U.S. Dollars ($[***]); and (d) [***] percent ([***]%) on the portion of annual Net Sales of such Product that is equal to or greater than [***] U.S. Dollars ($[***]). Royalties will be payable on a quarterly basis; any such payments shall be made basis within [***] ([***]) days after the end of the calendar quarter Calendar Quarter during which the applicable Net Sales occurred. XXXXX’x RBNC’s obligation to pay royalties with respect to each Product in a particular country shall commence upon the First Commercial Sale of such Product in such country and shall expire on a country-by-country and Product-by-Product basis on the later of (ia) the date on which the Exploitation of such Product is no longer Covered by a Valid Claim of a Program Patent, Licensed Patent or Program Joint Patent that claims the composition of matter of the CK1d Directed Compound included in such country Product in such country, or (iib) the tenth (10th) anniversary of the First Commercial Sale of such Product in such country (the “Royalty Term”).