Common use of Reverse Royalty Clause in Contracts

Reverse Royalty. If AbbVie grants to Licensor a grantback license pursuant to Section 11.8.1, in consideration of the licenses granted and other consideration provided to Licensor, Licensor shall pay AbbVie a royalty on a Licensed Product-by-Licensed Product basis on Net Sales of each Licensed Product in each country or other jurisdiction in the Terminated Territory during the Reverse Royalty Term for such Licensed Product in such country or other jurisdiction at the rates set forth in the table below, based on the stage of development of such Licensed Product as of the effective date of such termination. For purposes of this Section, the definition of “Net Sales,” and Sections 6.8 through 6.14 shall apply mutatis mutandis to the calculation, payment, recording, and auditing of Licensor’s obligations to pay royalties under this Section as they apply to AbbVie and, solely for such purpose, each reference in each such Section (and any related definitions) to (i) AbbVie shall be deemed to be a reference to Licensor, and (ii) a Sublicensee shall be deemed to be a reference to a licensee or sublicensee of Licensor or its Affiliates. Net Sales in the of each Licensed Product Royalty Rate If termination of this Agreement is effective prior to [*] [*] If termination of this Agreement is effective on or after [*] and prior to [*] for a given Licensed Product [*] If termination of this Agreement is effective on or after [*] for a Licensed Product [*]