Common use of Generic Reduction Clause in Contracts

Generic Reduction. If a Generic Product for a Licensed Product is being sold in such country, the royalties payable by Centry in respect of that country and that Licensed Product shall, subject to Clause 7.8, be reduced by (i) [***] percent ([***]%) from the first full Calendar Quarter after the date on which L▇▇▇▇ ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ first exists in such country, and (ii) [***] percent ([***]%) from the first full Calendar Quarter after the date on which L▇▇▇▇ ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ first exists in such country, but only for so long as the applicable (Level 1 or Level 2) Generic Product is being sold in such country.

Generic Reduction. If a Generic Product for a Licensed Product is being sold in such a country, the royalties payable by Centry Nuvectis in respect of that such country and that such Licensed Product shall, subject to Clause 7.83.12, be reduced by (ia) [***] percent ([***]%) from the first full Calendar Quarter after the date on which L▇▇▇▇ ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ first exists in such country, and or (iib) [***] percent ([***]%) from the first full Calendar Quarter after the date on which L▇▇▇▇ ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ first exists in such country, but only for so long as the applicable (Level 1 or Level 2) Generic Product is being sold in such country.