Common use of Annual Net Sales Clause in Contracts

Annual Net Sales. Subject to Sections 6.4.2 and 6.4.3, for each Licensed Product in any Calendar Year, Kolltan shall pay MedImmune royalties on Annual Net Sales of such Licensed Product in such Calendar Year at the following rates: (a) On that portion of Annual Net Sales of such Licensed Product in such Calendar Year that is less than or equal to [**] Dollars ($[**]) [**] Percent ([**]%) (b) On that portion of Annual Net Sales of such Licensed Product in such Calendar Year that is more than [**] Dollars ($[**]) but less than or equal to [**] ($[**]) [**] Percent ([**]%) (c) On that portion of Annual Net Sales of such Licensed Product in such Calendar Year that is greater than [**] Dollars ($[**]) [**] Percent ([**]%)