Common use of Competition Reduction Clause in Contracts

Competition Reduction. Upon [*], Amgen shall have the immediate and continuing right to reduce the Royalty rates set forth in Article 4.2 on Net Sales of each such Licensed Antibody Product(s) in such country to: (a) [*] ([*]%) during the first [*] period following such sale of commercial quantities and thereafter; and (b) [*] ([*]%) for each [*] period thereafter until expiration of the obligation to pay a Royalty for such Licensed Antibody Product under Article 4.8;