Examples of Valid Patent Claim in a sentence
Notwithstanding the provisions of Section 4.3.1(a), in countries where the sale of Product by Licensee or its Related Parties would not infringe a Valid Patent Claim, Licensee shall pay royalty rates that shall be set at fifty percent (50%) of the applicable royalty rate determined according to 4.3.1(a).
Notwithstanding the provisions of Section 5.4.1(a), in countries where the sale of Product by Merck or its Related Parties would not infringe a Valid Patent Claim, Merck shall pay royalty rates that shall be set at [***] of the applicable royalty rate determined according to Section 5.4.1(a).
In countries in which the sale of the relevant Product by Pfizer or its Related Parties is not Covered by a Valid Patent Claim in the country of sale, Pfizer shall pay Arvinas royalties as a percentage of Net Sales of the relevant Product by Pfizer or its Related Parties in the applicable Pfizer Year of the applicable Royalty Period at royalty rates that shall be set at [**] percent ([**]%) of the royalty rate applicable at the relevant time determined according to 5.5.1(a)(i) through (iii).
Royalties on each Product at the rates set forth above shall continue on a country-by-country basis until the expiration of the later of: (i) the last-to-expire Valid Patent Claim; or (ii) a period of ten (10) years after First Commercial Sale of such Product in such country (the “Royalty Period”).
By way of example, if for a period of five (5) years, a Product is Sold in a country where the Product is not covered by a Valid Patent Claim, then Xxxxx would receive, during that five (5) year period, the Know-How Royalty Rate for sales in that country.