Trademark Royalty. Argent shall pay Vertical a yearly royalty in the amount of [***] of its Net Sales of the Products in the Territory for the use of any Trademark(s) transferred pursuant Section 11.4 above on any of the Products (“Trademark Royalty”) and this shall be the only compensation, if applicable, that is to be paid by Argent to Vertical (or Optionee as defined in Section 11.6 below) with respect to the Products subsequent to the termination hereof. This obligation shall also apply to the Net Sales by any third party that has obtained rights from Argent to market the Products in the Territory and uses any of such Trademark(s) on any of the Products. For the avoidance of doubt, if such Trademark(s) are not used on the Products by Argent or any such third party, then no Trademark Royalty will be due Vertical hereunder.
Appears in 4 contracts
Samples: Tablets Marketing Rights Agreement, Tablets Marketing Rights Agreement (Osmotica Pharmaceuticals PLC), Tablets Marketing Rights Agreement (Osmotica Pharmaceuticals LTD)
