ROYALTIES PAYABLE. 5.6.1 In consideration for the Development and Commercialization License granted to Sanofi herein, and subject to the terms and conditions of this Agreement, during the applicable Royalty Term, on a Licensed Product-by-Licensed Product and country-by-country basis, subject to Section 5.15, Sanofi will pay to Ablynx non-refundable (except in case of material error) royalties on the annual Net Sales of such Licensed Product at the rates set forth below:
Appears in 2 contracts
Sources: Collaboration and License Agreement (Ablynx NV), Collaboration and License Agreement (Ablynx NV)