Reduced Royalty definition
Examples of Reduced Royalty in a sentence
Further for clarity, after the expiration of the Reduced Royalty Term in each country in the Territory, no further royalties shall be due with respect to Net Sales in such country and the licenses granted to ARIAD SWISSCO hereunder shall become fully paid-up and royalty-free with respect to such country for the remainder of the Term.
For example, if Net Sales of Licensed Diagnostic Products during a calendar year are USD[**], none of which were Net Sales of Reduced Royalty Products, then the total royalty payable under this clause 5.4 for such calendar year, subject to clause 5.6, would be calculated as follows: [**].
For example, if Net Sales of Licensed Therapeutic Products during a calendar year are USD[**], none of which were Net Sales of Reduced Royalty Products, then the total royalty payable under this clause 5.3 for such calendar year, subject to clauses 5.5 and 5.6, would be calculated as follows: [**].
The payments being a percent Net Sales shall be made during the Full Royalty Term, and shall reduce to [**] of Net Sales thereafter for the Reduced Royalty Term.
On a country-by-country basis, other than [***], Roche’s obligation to make royalty payments hereunder in such country will end on the expiration of the Reduced Royalty Period in such country.
In case during a calendar year Royalties payable change from Full Royalty Rate to Reduced Royalty Rate or vice versa, the whole Net Sales in such year shall be included in the aggregate Net Sales.
In consideration of the exclusive license in the Implantable Cardiac Field to the Surgi-Vision IP granted herein, CPI agrees to pay to SVI royalties on Net Sales of Royalty Products as follows: either (i) one and a half (1.5%) percent of the aggregate worldwide Net Sales of all Reduced Royalty Products; or (ii) three and a half (3.5%) percent of the aggregate worldwide Net Sales of Royalty Products which are not Reduced Royalty Products.
Subject to Section 6.6.2(d), on a country-by-country and Product-by-Product basis, after the expiration of the Full Royalty Period and until the end of the Reduced Royalty Period, in lieu of the royalty rates set forth in Table 3 of Section 6.6.1, Biogen will pay Ionis royalty rates (the “Biogen Reduced Royalty”) on Net Sales of Products calculated on a Calendar Year-by-Calendar Year basis by [***]; provided, however, that the Biogen Reduced Royalty rate in each country will in no event exceed the [***].
After the aggregate royalty payments to SVI under this Agreement (which excludes the License Fee, as defined hereunder) reach one hundred million ($100,000,000.00) dollars, the royalty on Net Sales of all Royalty Products which are not Reduced Royalty Products will be reduced from three and a half (3.5%) percent to two (2%) percent.
In consideration of the exclusive license in the Implantable Cardiac Field to the Surgi-Vision IP granted herein, CPI agrees to pay to SVI royalties on Net Sales of Royalty Products as follows: either (i) [***] of the aggregate worldwide Net Sales of all Reduced Royalty Products; or (ii) [***] of the aggregate worldwide Net Sales of Royalty Products which are not Reduced Royalty Products.