Common use of Running Royalty Rate Clause in Contracts

Running Royalty Rate. In consideration for the license granted herein, INHIBITEX shall remit to SYSTEM a royalty on NET SALES as follows: (a) [ *** ] of NET SALES of LICENSED PRODUCTS which are claimed in patents comprising PATENT RIGHTS in which SYSTEM is the sole entity with authority to enter into license agreements for such patent(s), either by ownership, or by assignment or exclusive license; and (b) [ *** ] of NET SALES of LICENSED PRODUCTS which are claimed in patents comprising PATENT RIGHTS wherein SYSTEM and a second party have authority to enter into license agreements for such patent(s), either by ownership, or by assignment or exclusive license; and (c) [ *** ] of NET SALES of LICENSED PRODUCTS which are claimed in patents comprising PATENT RIGHTS wherein SYSTEM and two or more parties have authority to enter into license agreements for such patent(s), either by ownership, or by assignment or exclusive license.