Common use of Applicator Clause in Contracts

Applicator. (a) The Purchase Price for the Applicator shall be $[...***...]; provided, however, that at the end of each Quarter following the First Commercial Sale, Ethicon shall calculate whether the Purchase Price is less than the "Adjusted Applicator Purchase Price" (as defined below). Ethicon will consolidate sales by Affiliates and report on sales by country, reflecting the Adjusted Applicator Purchase Price. If so, Ethicon shall forward a payment to Genetronics; for the difference. For purposes of this paragraph "Adjusted Applicator Purchase Price" shall mean [...***...] of Net Sales of the Applicator, to be paid by installments at the end of each Quarter following the First Commercial Sale. For purposes of this paragraph, "Quarter" shall mean the fiscal quarter used for internal accounting purposes by Ethicon. All payments shall be subject to audit by Ethicon in accordance with the audit provisions in the License Agreement.