Common use of Post-Launch Clause in Contracts

Post-Launch. In consideration of the provisions of Clauses 12.1 (a)-(e), NexMed shall pay Novartis a royalty of three percent (3%) on net sales of Product invoiced by or on behalf of NexMed and any NexMed Affiliate, licensee or sublicensee for the Product, where net sales and payment terms shall have an equivalent meaning to the definition of Net Sales and payment terms in this Agreement in relation to Novartis.

Post-Launch. In consideration of the provisions of Clauses 12.1 (a)-(e), NexMed shall pay Novartis a royalty of three one and a half percent (31.5%) on net sales of Product invoiced by or on behalf of NexMed and any NexMed Affiliate, licensee or sublicensee for the Product, where net sales and payment terms shall have an equivalent meaning to the definition of Net Sales and payment terms in this Agreement in relation to Novartis.