Common use of Basic Royalty Payments Clause in Contracts

Basic Royalty Payments. In consideration of the licenses set forth in Section 3.2 with respect to Parent Licensed Patents other than Coatue Licensed Patents, FASL shall pay to Parent the following royalty payments (each a “Basic Royalty Payment”): 6.1.1 During the four (4) year period commencing on the Effective Date, **** of Net Sales of Licensed Products; 6.1.2 During the four (4) year period commencing on the fourth anniversary of the Effective Date, **** of Net Sales of Licensed Products; and 6.1.3 During the two (2) year period commencing on the eighth anniversary of the Effective Date, **** of Net Sales of Licensed Products. FASL shall not owe any royalties on Net Sales of Licensed Products occurring on or after the tenth anniversary of the Effective Date in consideration of the license hereunder to Parent Licensed Patents.

Basic Royalty Payments. In consideration of the licenses set forth in Section 3.2 with respect to Parent Licensed Patents other than Coatue Licensed Patents, FASL shall pay to Parent the following royalty payments (each a “Basic Royalty Payment”): 6.1.1 During the four (4) ***** year period commencing on the Effective Date, ***** of Net Sales of Licensed Products; 6.1.2 During the four (4) ***** year period commencing on the fourth ***** anniversary of the Effective Date, ***** of Net Sales of Licensed Products; and 6.1.3 During the two (2) ***** year period commencing on the eighth ***** anniversary of the Effective Date, ***** of Net Sales of Licensed Products. FASL shall not owe any royalties on Net Sales of Licensed Products occurring on or after the tenth ***** anniversary of the Effective Date in consideration of the license hereunder to Parent Licensed Patents.