definiens: shall mean [ * * ] percent ( [ * * ] % ) of that portion of the annual Net Sales ofeach [ * * ] Licensed Product which is less than or equal to USD [ * * ] ; and [ * * ] percent ( [ * * ] % ) of that portionof the annual Net Sales of each [ * * ] Licensed Product which is greater than USD [ * * ] .)(b ) Novo Nordisk ’s obligation to pay royalties for a [ * * ] Licensed Product shall continue on acountry - by - country and [ * * ] Licensed Product - by- [ * * ] Licensed Product basis until the later of ( x ) theexpiration date of the last - to - expire of any PCYC Patent(s ) with an Issued Patent Claim that would Coversuch [ * * ] Licensed Product or ( y ) [ * * ] years from First Commercial Sale of the first [ * * ] Licensed Product tobe sold in such country ( the )