Common use of ADVANCED PRODUCTS Clause in Contracts

ADVANCED PRODUCTS. For GDF-8 Licensed Products which are not finished formulations, mixtures or compositions of GDF-8 (that is, for GDF-8 Licensed Products which could not have been developed by a Party but for the application of substantial advanced technologies developed by that Party (including, without limitation, GDF-8 Licensed Products which are antibodies, antisense molecules or ribozymes to, GDF-8), the royalty payable hereunder by that developing Party on Net Sales of that GDF-8 Licensed Product shall be reduced to reflect the fair market value contribution of that advanced technology to the GDF-8 Licensed Product, as determined by mutual agreement of the Parties. In the event that the Parties are unable to calculate or agree upon the fair market value contribution of the advanced technology to the GDF-8 Licensed Product, then the royalty payable by the developing Party on Net Sales of that GDF-8 Licensed Product shall be reduced by fifty percent (50%).