Patent Royalties. Subject to the provisions of Section 5.4.1(b), Merck shall pay Company royalties in an amount equal to the following percentage of Net Sales of Products by Merck or its Related Parties where the sale of Product would infringe a Valid Patent Claim in the country of sale: (1) [***] of Net Sales in the Territory in each Calendar Year up to and including [***]; (2) [***] of Net Sales in the Territory in each Calendar Year for the portion of Net Sales exceeding [***] up to and including [***]; and (3) [***] of Net Sales in the Territory in each Calendar Year for the portion of Net Sales exceeding [***].
Appears in 5 contracts
Sources: Exclusive Patent License and Research Collaboration Agreement, Exclusive Patent License and Research Collaboration Agreement, Exclusive Patent License and Research Collaboration Agreement (Cue Biopharma, Inc.)
Patent Royalties. Subject to the provisions of Section 5.4.1(b), Merck shall pay Company royalties in an amount equal to the following percentage of Net Sales of Products by Merck or its Related Parties where the sale of Product would infringe a Valid Patent Claim in the country of sale:
(1) [***] of worldwide Net Sales in the Territory in each Calendar Year up to and including [***];
(2) [***] of worldwide Net Sales in the Territory in each Calendar Year for the portion of Net Sales exceeding [***] up to and including [***]; and
(3) [***] of worldwide Net Sales in the Territory in each Calendar Year for the portion of Net Sales exceeding [***].
Appears in 1 contract
Sources: Exclusive License and Research Collaboration Agreement (Proteostasis Therapeutics, Inc.)