Document ID: 12779

Text:
(c) Unless earlier terminated, either Buyer shall pay, or any Buyer Licensee shall pay, but not both, to Seller a single royalty equal to six percent (6.0%) of Net Sales during the Royalty Term and shall pay to Sellers Designee a single royalty equal to one and one-half percent (1. 5% ) of Net Sales during the Royalty Term. Buyer Licensee shall pay the royalty directly or indirectly through Buyer. The payments due under this Section 1.3(c) shall be paid within thirty (30) days of the end of each calendar quarter during which revenue is collected. Royalties on Net Sales under this Section 1.3(c) will be payable on a Product-by-Product and country-by-country basis, commencing on the first commercial sale of a Finished Product in a country until the later of (i) the invalidation, revocation, lapse or expiration of the last to expire Valid Claim of any Patent that would be infringed by the sale of such Finished Product in such country or (ii) the expiration of any Regulatory Exclusivity Period for such Product in such country (the Royalty Term). The Royalty Term will include only that period for which the Buyer, Buyer Licensee or their designee, holds exclusive marketing rights in the relevant . jurisdiction for the Acquired Assets, or products derived from the Acquired Assets, as a result of a legal right received as part of this Asset Purchase Agreement by Data Exclusivity, Orphan Drug Exclusivity or Patent Protection. However, patents which may be in force but which do not provide marketing exclusivity will not be included in the determination of royalties to be paid to Seller under this agreement.

Named Entities:
33
36
Percentage
58
58
Ratio
61
64
Percentage
271
273
Title
275
276
Title
278
280
Title
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283
Title

Tokenized Text:
(
c
)
Unless
earlier
terminated
,
either
Buyer
shall
pay
,
or
any
Buyer
Licensee
shall
pay
,
but
not
both
,
to
Seller
a
single
royalty
equal
to
six
percent
(
6
.
0
%
)
of
Net
Sales
during
the
Royalty
Term
and
shall
pay
to
Sellers
Designee
a
single
royalty
equal
to
one
and
one-half
percent
(
1
.
5
%
)
of
Net
Sales
during
the
Royalty
Term
.
Buyer
Licensee
shall
pay
the
royalty
directly
or
indirectly
through
Buyer
.
The
payments
due
under
this
Section
1
.
3
(
c
)
shall
be
paid
within
thirty
(
30
)
days
of
the
end
of
each
calendar
quarter
during
which
revenue
is
collected
.
Royalties
on
Net
Sales
under
this
Section
1
.
3
(
c
)
will
be
payable
on
a
Product-by-Product
and
country-by-country
basis
,
commencing
on
the
first
commercial
sale
of
a
Finished
Product
in
a
country
until
the
later
of
(
i
)
the
invalidation
,
revocation
,
lapse
or
expiration
of
the
last
to
expire
Valid
Claim
of
any
Patent
that
would
be
infringed
by
the
sale
of
such
Finished
Product
in
such
country
or
(
ii
)
the
expiration
of
any
Regulatory
Exclusivity
Period
for
such
Product
in
such
country
(
the
Royalty
Term
)
.
The
Royalty
Term
will
include
only
that
period
for
which
the
Buyer
,
Buyer
Licensee
or
their
designee
,
holds
exclusive
marketing
rights
in
the
relevant
.
jurisdiction
for
the
Acquired
Assets
,
or
products
derived
from
the
Acquired
Assets
,
as
a
result
of
a
legal
right
received
as
part
of
this
Asset
Purchase
Agreement
by
Data
Exclusivity
,
Orphan
Drug
Exclusivity
or
Patent
Protection
.
However
,
patents
which
may
be
in
force
but
which
do
not
provide
marketing
exclusivity
will
not
be
included
in
the
determination
of
royalties
to
be
paid
to
Seller
under
this
agreement
.