Applicable Royalty Rate

Example Definitions of "Applicable Royalty Rate"
Applicable Royalty Rate. The term "Applicable Royalty Rate" or "ARR" shall mean, with respect to a Product, the royalty rate applicable to Net Sales of such Product specified in Section 3.5 (prior to giving effect to any adjustments that may be applicable under Section 3.6 and/or Section 3.7).
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