Royalty Calculation. Royalties provided to Osiris shall be determined on the basis of Novartis' monthly standard account of sales which represents the conversion of all local currency sales to Swiss Francs at the average monthly exchange rate of sales, as calculated by Novartis in the ordinary course of business. The royalty report provided under Art. 9.2 shall provide information as to such calculation for each Product.
Appears in 2 contracts
Sources: Research Collaboration and License Agreement (Osiris Therapeutics Inc), Research Collaboration and License Agreement (Osiris Therapeutics Inc)