Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example:
(A) if Medicenna pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 $15 in earned royalties are due Stanford for Net Sales in year Y, Medicenna will only need to pay Stanford an additional $5 for that year’s earned royalties.
(B) if Medicenna pays Stanford a $10 maintenance payment for year Y, and according to Section 7.9 $3 in earned royalties are due Stanford for Net Sales in year Y, Medicenna will not need to pay Stanford any earned royalty payment for that year. Medicenna will not be able to offset the remaining $7 against a future year’s earned royalties.
Creditable Payments. Creditable payments under this Agreement will be an offset to Alnylam against each earned royalty payment which Alnylam would be required to pay under Section 6.3 until the entire credit is exhausted.
Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example:
(A) if Company pays Stanford a [***] maintenance payment for year Y, and according to Section 7.8 [***] in earned royalties are due Stanford for Net Sales in year Y, Company will only need to pay Stanford an additional [***] for that year's earned royalties.
(B) if Company pays Stanford a [***] maintenance payment for year Y, and according to Section 7.8 [***] in earned royalties are due Stanford for Net Sales in year Y, Company will not need to pay Stanford any earned royalty payment for that year. Company will not be able to offset the remaining [***] against a future year's earned royalties.
Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example: [***]
Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. For example:
(A) if Forty Seven pays Stanford a $10 maintenance payment for year Y, and according to Section 7.8 $15 in earned royalties are due Stanford for Net Sales in year Y, Forty Seven will only need to pay Stanford an additional $5 for that year’s earned royalties.
(B) if Forty Seven pays Stanford a $10 maintenance payment for year Y, and according to Section 7.8 $3 in earned royalties are due Stanford for Net Sales in year Y, Forty Seven will not need to pay Stanford any earned royalty payment for that year. Forty Seven will not be able to offset the remaining $7 against a future year’s earned royalties.
Creditable Payments. The license maintenance fee paid in a calendar year may be offset against earned royalty payments due on Net Sales occurring in that year. For example:
(A) if Eidos pays Stanford a $10 maintenance payment for year Y, and according to Section 7.8 $15 in earned royalties are due Stanford for Net Sales in year Y, Eidos will only need to pay Stanford an additional $5 for that year’s earned royalties.
(B) if Eidos pays Stanford a $10 maintenance payment for year Y, and according to Section 7.8 $3 in earned royalties are due Stanford for Net Sales in year Y, Eidos will not need to pay Stanford any earned royalty payment for that year. Eidos will not be able to offset the remaining $7 against a future year’s earned royalties.
Creditable Payments. The license maintenance fee for a year may be offset against Running Royalty payments due occurring in that year. For example:
(A) if BioVest pays Stanford a $10 maintenance payment for year Y, and according to Section 7.4 $15 in Running Royalties are due Stanford for in Printed on: 9/30/2004 at 2:45 PM Page: 3 of 3 year Y, BioVest will only need to pay Stanford an additional $5 for that year’s earned royalties.
(B) if BioVest pays Stanford a $10 maintenance payment for year Y, and according to Section 7.4 $3 in Running rRoyalties are due Stanford in year Y, BioVest will not need to pay Stanford any Running Royalty payment for that year. BioVest will not be able to offset the remaining $7 against a future year’s Running Royalties.
Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example:
(A) if LogicBio pays Stanford a $10 maintenance payment for year Y, and according to Section 7.8 $15 in earned royalties are due Stanford for Net Sales in year Y, LogicBio will only need to pay Stanford an additional $5 for that year’s earned royalties.
(B) if LogicBio pays Stanford a $10 maintenance payment for year Y, and according to Section 7.8 $3 in earned royalties are due Stanford for Net Sales in year Y, LogicBio will not need to pay Stanford any earned royalty payment for that year. LogicBio will not be able to offset the remaining $7 against a future year’s earned royalties. [***] PORTIONS OF THIS EXHIBIT HAVE BEEN REDACTED PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. AN UNREDACTED VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE COMMISSION. EXECUTION VERSION
Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example:
(A) if Fate pays Stanford a $10 maintenance payment for year Y, and according to Section 7.6 $15 in earned royalties are due Stanford for Net Sales in year Y, Fate will only need to pay Stanford an additional $5 for that year’s earned royalties.
(B) if Fate pays Stanford a $10 maintenance payment for year Y, and according to Section 7.6 $3 in earned royalties are due Stanford for Net Sales in year * Confidential Information, indicated by [***], has been omitted from this filing and filed separately with the Securities and Exchange Commission. Y, Fate will not need to pay Stanford any earned royalty payment for that year. Fate will not be able to offset the remaining $7 against a future year’s earned royalties.
Creditable Payments. The license maintenance fee for a year may be offset against earned royalty payments due on Net Sales occurring in that year. For example:
(A) if Telomolecular pays Stanford a $10 maintenance payment for year Y. and according to Section 7.7 $15 in earned royalties are due Stanford for Net Sales in year Y, Telomolecular will only need to pay Stanford an additional S5 for that year's earned royalties.
(B) if Telomolecular pays Stanford a $10 maintenance payment for year Y, and according to Section 7.7 $3 in earned royalties are due Stanford for Net Sales in year Y. Telomolecular will not need to pay Stanford any earned royalty payment for that year. Telomolecular will not he able to offset the remaining $7 against a future year's earned royalties.
