Sales Royalties. Subject to the terms and conditions of this Agreement and any applicable Development Plan Incentive, during the applicable Royalty Term, Lian will pay Nanobiotix a tiered royalty on the Net Sales of all Licensed Products in the Territory that is the product of the aggregate annual Net Sales of all Licensed Products in the Territory and the applicable royalty rate in the following table (the “Royalty Rates”), subject to the provisions of Section 9.6: Portion of the Annual Net Sales of the Licensed Products in the Territory Royalty Rate 1. [***] [***]
Sales Royalties. During the Royalty Term for each country in the Territory, Kyowa Kirin will pay to Reata royalties (“Sales Royalties”) based on the aggregate Net Sales of Licensed Products in each Calendar Year at the rates set forth below (annual Net Sales are determined on a Calendar Year basis): Annual Net Sales in Japan ( Japanese ¥) Royalty (%) [***] [***] [***] [***] [***] [***] [***] [***] Annual Net Sales in China (US$) Royalty (%) [***] [***] [***] [***] Annual Net Sales in other countries in the Territory (not including Japan and China) (US$) Royalty (%) [***] [***] Each royalty payment will be non-refundable and non-creditable against any other payments due hereunder. Kyowa Kirin will make royalty payments to Reata hereunder in arrears, within sixty (60) days from the end of each Calendar Quarter in which the underlying Net Sales occur. Each royalty payment will be accompanied by a report for each country in the Territory in which sales of any Licensed Products occurred in the Calendar Quarter, specifying: (a) the gross sales (if available) and Net Sales (including a statement of the aggregate deductions taken from gross sales in the calculation of Net Sales) on a Licensed Product-by-Licensed Product and country-by-country basis, in each country’s currency; (b) the applicable royalty rate under this Agreement; (c) the royalties payable in the country’s currency where the Net Sales occurred; (d) the applicable exchange rate to convert from each country’s currency to United States dollars under Section 7.7; and (e) the royalties payable in United States dollars. For the avoidance of doubt, no royalties shall be due or payable by Kyowa Kirin with respect to Net Sales of Licensed Products in a given country after the end of the Royalty Term in such country. Specific terms in this exhibit have been redacted because confidential treatment for those terms has been requested. These redacted terms have been marked in this exhibit with three asterisks [***]. An unredacted version of this exhibit has been separately filed with the Securities and Exchange Commission.
Sales Royalties. (a) Subject to Section 6.3(b), Telix will pay Lilly [**] percent ([**]%) of Telix Net Sales.
Sales Royalties. (a) Subject to Section 7.4(b), Lxxxx will pay Telix:
Sales Royalties. (a) Effective upon the Closing, Buyer will, subject to the terms hereof, pay royalties to the Original Owners in connection with all sales of any product or service based upon or derived from the Original Assets (a "Product"), including without limitation the sale or licensing of any Cat's Claw Substance, until such time as a total aggregate amount of $347,700 of such royalty earnings (the "Total Royalty Amount") has been paid out to Original Owners hereunder. Said royalties shall be as follows:
Sales Royalties. Licensee shall pay to Licensor a royalty on worldwide annual Net Sales by the Licensee, a Sublicensee or any Affiliate of either during each calendar year equal to three percent (3%) of total Net Sales. This royalty rate applicable to the Net Sales of a Product in a country will be reduced by fifty percent (50%) during any period during which there exists no Valid Claim of the Licensed Patent Rights in such country that covers such Product or its manufacture, use or sale in such country.
Sales Royalties. In consideration for the rights and licenses granted in Section 2., LICENSEE shall pay to LICENSOR the following royalties on Net Sales commencing upon the first commercial sale of a Licensed Product: Net Sales U.S. $ Royalty Rate […***…] 5.0% […***…] […***…]% […***…] […***…]% […***…] […***…]% […***…] […***…]% […***…] […***…]% […***…] […***…]% […***…] […***…]% […***…] 10.5% LICENSEE shall make royalty payments on a calendar quarterly basis. Royalty payments are due and payable within […***…] after respective calendar quarter close on March 31, June 30, September 30, and December 31 of each calendar year, and each payment shall be accompanied by a royalty report as set forth in Section 5.3. The royalty rate applied to determine royalty payments shall be determined based on the aggregate Net Sales for that calendar quarter and the previous three calendar quarters. By way of example, the royalty rate applied to determine the royalty payment for Q1 will be based on aggregate Net Sales for Q1 and Q4, Q3 and Q2 of the previous year. If total Net Sales over the previous four calendar quarters at the end of a given Q1 are $[…***…] (with Q1 sales of $[…***…] and previous year sales of $[…***…] in Q4, $[…***…] in Q3, and $[…***…] in Q2) then the actual royalty rate applicable for that Q1 royalty payment is […***…]% determined by the sum of Q1, previous year Q4, Q3 and Q2 sales (equal to $[…***…]) and applying the applicable royalty rate in the table above). The royalty payment due for Q1 is calculated as: ([…***…]) x […***…]% = $[…***…] At the end of the calendar quarter in which the U.S. Orphan Drug Designation expires, then the royalty rate applicable to all Net Sales, irrespective of geography shall be […***…] percent ([…***…]%) of Net Sales. LICENSEE shall be entitled to a credit of […***…] percent ([…***…]%) against the royalty rate for each of the first […***…] percentage points and […***…] percent ([…***…]%) against the royalty rate for each of the next […***…] percentage points that LICENSEE must pay to an unaffiliated third Person licensor (excluding LICENSEE’s Affiliates, Sublicensees and Distributors) for the right to practice Valid Claim(s) covering the use and sale of choline chloride for the Licensed Indications in a Licensed Product; which credit shall not reduce the applicable royalty rate (set out in the table above) by more than […***…] percent ([…***…]%). LICENSEE is not entitled to a credit on the royalty rate for any royalties that LICENSEE pays...
Sales Royalties. Schedule 3.3.8 contains true and complete copies of the statements of Sales Royalties required to be delivered by DKS pursuant to Section 6 of the DK License Agreement for fiscal years 1998 and 1999 and for the period from January 1, 2000 through the date hereof. Except as set forth on SCHEDULE 3.3.8, DKI has paid and the Company has received all Sales Royalties set forth on such statements.
Sales Royalties. As further monetary consideration for the licenses and release granted by Licensor hereunder, in addition to all of the other consideration provided for in this Agreement, Licensee shall pay Licensor royalties (“Royalties”) equal to the Royalty Rate (as defined below) of Net Sales (as defined below) of all Licensed Products sold, licensed, leased or otherwise disposed of (any of the foregoing, a “Sale”) by or on behalf of Licensee and its Affiliates. For the purposes hereof:
