Common use of Royalty Rates Clause in Contracts

Royalty Rates. Subject to the terms and conditions of this Agreement, Licensee shall pay to Merck royalties on Net Sales of Licensed Product on a country-by-country basis in an amount equal to: [***].

Royalty Rates. Subject to the terms and conditions of this Agreement, Licensee shall pay to Merck royalties on Net Sales of Licensed Product on a countryLicensed Product-by-country Licensed Product basis in an amount equal to: Net Sales of a Licensed Product in the Territory During a Calendar Year Royalty Rate Net Sales up to $[**] [**] Incremental net sales above $[**] and up to $[**] [**] Incremental Net Sales above $[**] [**].