Royalties on Net Sales of Licensed Products. Licensee shall pay running royalties, on a country-by-country and Licensed Product-by-Licensed Product basis, to Licensor on the annual, aggregate Net Sales of each Licensed Product in the Territory during the applicable Royalty Term (such Royalty Term determined on a Licensed Product-by-Licensed Product and country-by-country basis) at the applicable royalty rates set forth below: On the portion of annual Net Sales less than [***] [***] On the portion of annual Net Sales equal to or greater than [***] [***] On the portion of annual Net Sales equal to or greater than [***] [***] On the portion of annual Net Sales greater than [***] [***]
Appears in 2 contracts
Sources: License and Collaboration Agreement (Cullinan Oncology, LLC), License and Collaboration Agreement (Cullinan Oncology, LLC)