OTHER INSULIN PUMPS Sample Clauses

OTHER INSULIN PUMPS. If, following FDA Approval, IMT or any entity directly or indirectly controlled by IMT sells a system (a "CONVENTIONAL SYSTEM") for delivering insulin to the human body which is not a Competing Novel Pump and which competes in the market served by the DBT Pump, IMT shall make royalty payments at the same rate as from time to time applicable to the DBT Pump pursuant to Section 5.4 or Section 5.5 on the Net Sales of such insulin pump and a portion of any disposable parts for use with such pump. During the twelve month period following FDA Approval, such portion shall be the amount by which Net Sales of such disposable parts exceed the Net Sales of such disposable parts during the twelve month period ending on the date of the FDA Approval. During the twelve month period beginning one year after FDA Approval, such portion shall be the amount by which Net Sales of such disposable parts exceed 2/3 of Net Sales of such disposable parts during the twelve month period ending on the date of the FDA Approval. During the twelve month period beginning two years after FDA Approval, such portion shall be the amount by which Net Sales of such disposable parts exceed 1/3 of Net Sales of such disposable parts during the twelve month period ending on the date of the FDA Approval. Commencing three years after FDA Approval, such portion shall be 100% of Net Sales of such disposable parts.
Sample 1
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