Common use of Royalty Reduction Following Generic Product Commercialization Clause in Contracts

Royalty Reduction Following Generic Product Commercialization. On a Licensed Product-by-Licensed Product and country-by-country basis, during any period during the Royalty Term which a Generic Product of such Licensed Product is lawfully being sold in such country and Net Sales of such Licensed Product subsequently decrease in such country for two consecutive calendar quarters by more than [***] percent ([***]%) from the level of Net Sales achieved prior to the such sale of such Generic Product in such country, the royalty rate owed to Inhibrx shall be reduced by [***] percent ([***]%) in such country (also a “Royalty Payment”).