Initial Royalty Term Sample Clauses

Initial Royalty Term. During the Initial Royalty Term for a Product in a particular country of the Ono Territory, the royalty rate applicable to such Product in such country under Section 6.3(a) (i) above is subject to reduction in certain events, based on the level of competition from Generic Versions of such Product in such country as follows. During the Initial Royalty Term for a Product in a country: (i) If Generic Market Share with respect to such Product in such country equals or exceeds [ * ], then for so long as such Generic Market Share with respect to such Product equals or exceeds [ * ] in such country, the royalty rate under Section 6.3(a) (i) applicable to the Annual Net Sales of such Product in such country shall be adjusted to [ * ]. (i) It is understood that the adjustment in this Section 6.4(a) shall apply to a particular Product in a particular country only during the Initial Royalty Term for such Product in such country. After such Initial Royalty Term, any adjustment based on Generic Market Share of Generic Versions of such Product in such country will be governed by Section 6.4(b) below, if applicable.

Initial Royalty Term. All royalties payable by CoTherix to Asahi pursuant to Sections 5.3 shall be paid, on a country-by-country and a Product-by-Product basis, during a period from the date of the First Commercial Sale by CoTherix or its Affiliates or Sublicensees of such Product in a particular country until the latest of (a) [***] from the First Commercial Sale of such Product in such country, (b) the last to expire of any (or the earliest date on which there exists no) Valid Claim of Asahi Patents (excluding Joint Patents and [***] Patents) that Covers such Product in such country, or (c) the loss of (or the earliest date on which there exists no) regulatory market exclusivity for such Product in such country (including orphan drug status or its foreign equivalent; but, for the avoidance of doubt, excluding merely holding the only Regulatory Approval in such country when Third Parties are eligible to apply for and obtain a Regulatory Approval for such Product) (“Initial Royalty Term”).

Initial Royalty Term. With respect to the Initial Royalty Term: (i) Marathon shall pay to Faes Royalties (which the Parties expressly acknowledge and agree are inclusive of the supply price prepaid to Faes by Marathon under Section 6 with respect to Finished Product Manufactured and supplied by Faes to Marathon thereunder) which shall be calculated as a percentage of - or as a fixed payment with respect to - the Annual Net Sales of the Marathon Suspension Product in the Territory by Marathon and its Affiliates, subsidiaries or sublicensees per Calendar Quarter during the Initial Royalty Term in accordance with the table below (with each Royalty percentage or fixed payment, as the case may be, set forth below applicable only with respect to Annual Net Sales of Marathon Suspension Product within the applicable range set forth below): [**] [**] [**] [**] [**] [**] In making any Royalty Payments with respect to Royalties under this Section 7.3(a), Marathon shall [**]. (ii) In no event shall the aggregate Royalties (which, for such purposes, shall [**] in making the applicable Royalty Payment in accordance with Section 7.3(a)(i)) payable to Faes by Marathon under this Section 7.3(a) with respect to a first seven (7) Calendar Years ending ActiveUS 164142681 during the Initial Royalty Term be less than the following (the “Minimum Annual Royalty Payments”):