Running Royalties for Licensed Products. Licensee agrees to pay and shall pay to TSRI a running royalty on annual Net Sales of Licensed Products, on a Licensed Product-by-Licensed Product and country-by-country basis, in each country in which: (A) the manufacture, use, importation, sale or offer for sale of such Licensed Product would, in the absence of the license granted pursuant to Section 2.1, infringe at least one Valid Claim of the Licensed Patent Rights in such country, at the following applicable rates: (i) 2.0% of Net Sales of any Licensed Product that contains an Identified Compound; and (ii) 1.5% of Net Sales of any Licensed Product that does not contain an Identified Compound; and (B) the manufacture, use, importation, sale or offer for sale of such Licensed Product is not covered by a Valid Claim in the country of sale, but is covered by at least one Valid Claim in a Major Market (a “Non-Patent Product”), at the following applicable rates: (i) 1% of Net Sales of any Non-Patent Product that contains an Identified Compound; and (ii) 0.75% of Net Sales of any Non-Patent Product that does not contain an Identified Compound.
Running Royalties for Licensed Products. Licensee agrees to pay and shall pay to TSRI a running royalty on a country by country basis in the amount [***] on annual Net Sales less than $[***], [***] on annual Net Sales between $[***] and $[***] and [***] on annual Net Sales above $[***], in each case of Licensed Products made by Licensee, sublicensees and its Affiliates.
Running Royalties for Licensed Products. Subject to Section 6.5, Sorrento shall pay to BGN a running royalty on a country by country basis, where the Licensed Products are sold by Sorrento and/or by Sublicensees and where there are Valid Claims in such country, in the amount of one percent (1.0%) of Net Sales (“Running Royalty”). Notwithstanding the definition of the term “Licensed Products” as recorded in Section 1.7 above. if Sorrento and/or Sublicensee sells Licensed Product/s in a country in which there are no Valid Claims, but a Valid Claim is enforceable in any Major Market country (as such is defined in this Section 6), then Running Royalty payments to BGN in connection to such sales in such countries where there are no Valid Claims shall be in an amount equal to one half of one percent (0.5%) of Net Sales. Major Market country shall mean: the US, Germany, France, Spain the UK and Japan.
Running Royalties for Licensed Products. Licensee agrees to pay and shall pay to TSRI a running royalty on annual Net Sales by Licensee, Affiliates, or Sublicensees of Licensed Products, on a Licensed Product-by-Licensed Product and country-by-country basis, in each country in which (a) the manufacture, use, importation, sale or offer for sale of such Licensed Product would, in the absence of the licenses granted pursuant to Sections 2.1 and 2.2, infringe at least one Valid Claim of the Licensed Patent Rights in such country (such Licensed Product shall be referred to herein as “Covered” by the Licensed Patent Rights, and “Covers” is used herein in reference to such Valid Claim), at the applicable rates set forth below, and (b) the manufacture, use, importation, sale or offer for sale of a product is not Covered by an Issued Valid Claim, but would infringe at least one claim of a pending patent application within the Licensed Patent Rights in such country if such pending claim was an issued claim, at the applicable rate set forth below: Covered by Issued Valid Claim [*] [*] Not Covered by Issued Valid Claim [*] [*]
Running Royalties for Licensed Products. Licensee agrees to pay and shall pay to TSRI a running royalty on a country by country basis in the amount of [**Confidential Treatment Requested**] of Net Sales of Licensed Products. Licensee shall be entitled to a credit against royalties due hereunder, of [**Confidential Treatment Requested**] of any royalties paid to any third parties by Licensee, its Affiliates or sublicensees which is necessary in order for Licensee or its Affiliates or sublicensees to make, use, sell, offer for sale, or import any Licensed Product without infringing any patent or other rights of such third party. The application of such credit shall be limited so that it shall not reduce by more than [**Confidential Treatment Requested**] the royalties paid hereunder for any given period.
Running Royalties for Licensed Products. Licensee agrees to pay and shall pay to TSRI a running royalty on a country by country basis, where the Licensed Products are sold by Licensee or Sublicensees and where there are Valid Claims in such country in the amount of [***…***] of Net Sales of Licensed Products (the “Running Royalty”). If Licensee or Sublicensee sells Licensed Product in a country in which there are no Valid Claims, but a Valid Claim exists in any Major Market Country, Licensee agrees to pay and shall pay to TSRI a Running Royalty in the amount of [***…***].
Running Royalties for Licensed Products. COMPANY shall pay to M.I.T. running royalties for LICENSED PRODUCT(S) on annual Net Sales, as follows: ● [***] royalties on the [***] of NET SALES of LICENSED PRODUCT(S) in the relevant calendar year; ● [***] royalties on the next [***] NET SALES of LICENSED PRODUCT(S) in the relevant calendar year (i.e. the portion of such NET SALES in such calendar year [***]. ● [***] royalties on Net Sales of such LICENSED PRODUCT(S) [***] (i.e. the portion of such NET SALES in such calendar year [***]).
Running Royalties for Licensed Products
