Cumulative Reductions Floor. In no event will the aggregate Royalty amount due to a Party in any given Calendar Quarter during the Royalty Term for any Licensed Product be reduced by more than [***] of the amount that otherwise would have been due and payable to such Party in such Calendar Quarter for such Licensed Product but for the reductions set forth in Section 9.2.3(a) through Section 9.2.3(c) (Royalty Reductions).
Cumulative Reductions Floor. In no event will the royalty rate under Section 9.3(a) in any given Calendar Quarter during the Royalty Term for any Licensed Product be reduced by more than [***] of the royalty rate that otherwise would have applied in such Calendar Quarter for such Licensed Product but for the reductions set forth in Section 9.3(c) through Section 9.3(e). For the avoidance of doubt, this provision does not apply to Section 9.3(g).
Cumulative Reductions Floor. Notwithstanding Section 8.6.3, in no event will the reductions set forth in Sections 8.6.3(a), 8.6.3(b), 8.6.3(c), and 8.6.3(d) above operate, individually or in combination, to reduce the amount of royalties due to Silence with respect to Net Sales of a Licensed Product in a country in any given Quarter during the Royalty Term for such Licensed Product in such country by more than [***] of the amount of royalties that otherwise would have been due and payable to Silence in such Quarter for such Licensed Product in such country at the rate set out in the table in Section 8.6.1.
Cumulative Reductions Floor. In no event will the Biogen Territory Royalties or the United States Royalties, as applicable, otherwise due to Sage for any Licensed 217 Product or any Licensed 324 Product in a Calendar Quarter during the applicable Royalty Term for such Licensed 217 Product or Licensed 324 Product be reduced by more than [**] percent ([**]%) of the amount that would otherwise be due in such Calendar Quarter for such Licensed 217 Product or Licensed 324 Product as a result of the reductions set forth in Section 9.9.1 (Royalty Reduction for No Valid Claim) or Section 9.9.3 (Licensed Product Third Party Payments). [**].
Cumulative Reductions Floor. In no event will the royalty payable to R- Pharm pursuant to Section 7.4 be reduced below [***].
Cumulative Reductions Floor. In no event will the aggregate amount of royalties due to Silence for a Licensed Product in a country in the Hansoh Territory in [***] during the Royalty Term for such Licensed Product in such country be reduced by more than [***] ([***]%) of the amount that otherwise would have been due and payable to Silence in [***] for such Licensed Product in such country under Section 9.4.1 but for the reductions set forth in Sections 9.4.3(a), 9.4.3(b), and 9.4.3(c) above.
Cumulative Reductions Floor. In no event will the aggregate amount of Royalty Payments due to Kiniksa for the Licensed Product in a country or region in the Territory in any given Calendar Quarter during the Royalty Term for the Licensed Product in such country or region be reduced to less than [***]% of the amount that otherwise would have been due and payable to Kiniksa in such Calendar Quarter for the Licensed Product in such country or region but for the reductions set forth in Section 10.3.3(a) (Expiration of Valid Claims) and Section 10.3.3(b) (Biosimilar Product Reduction), and Section 10.3.3(c) (Third Party Patent Rights). Partner may carry forward to subsequent Calendar Quarters any amounts it could not deduct as a result of such floor.
Cumulative Reductions Floor. In no event will the aggregate amount of royalties due to Metagenomi for a Licensed Product Directed Against an RT Target in a country in the Territory in any given Calendar Quarter during the RT Royalty Term for such Licensed Product Directed Against an RT Target in such country be reduced by more than [***] of the amount that otherwise would have been due and payable to Metagenomi in such Calendar Quarter for such Licensed Product Directed Against an RT Target in such country as a result of the reductions set forth in Section 7.9.2 (Valid Claims), Section 7.9.3 (Biosimilar Products) and Section 7.9.4 (Third Party Payments), except in the event of Section 5.11.5 (Metagenomi Payments for Certain Technology) or Section 7.9.3(ii) (Biosimilar Products), which, for clarity, may result in up to [***] reduction of the royalties. Moderna may carry forward any such reductions permitted in accordance with Section 5.11.5 (Metagenomi Payments for Certain Technology), Section 7.9.2 (Valid Claims), Section 7.9.3 (Biosimilar Products) and Section 7.9.4 (Third Party Payments) that are incurred or accrued in a Calendar Quarter but that are not applied against royalties due to Metagenomi for such Licensed Product Directed Against an RT Target in such country in such Calendar Quarter as a result of the foregoing floor and apply such amounts against royalties due to Metagenomi for such Licensed Product Directed Against an RT Target in such country in any subsequent Calendar Quarter (subject to the minimum floor set forth in this Section 7.9.5 (Cumulative Reductions Floor)) until the amount of such reduction has been fully applied against royalties due to Metagenomi for such Licensed Product Directed Against an RT Target in such country.
Cumulative Reductions Floor. In no event will the reductions set forth in Section 10.5.2(b) (Sole Reduction) cause the royalties otherwise due to Novavax for any Licensed Adjuvanted Product in a given Calendar Quarter during the applicable Adjuvant Royalty Term for such Licensed Adjuvanted Product to be reduced by more than [***] of the amount that would otherwise be due in such Calendar Quarter for such Licensed Adjuvanted Product but for such reductions, provided that any reductions not able to be made or taken in respect of royalties in a given Calendar Quarter as a result of this Section 10.5.3(c) (Cumulative Reductions Floor) shall be carried forward for reduction in respect of royalties in future Calendar Quarters until fully exhausted.
Cumulative Reductions Floor. Subject to the last sentence of the introductory paragraph of Section 10.5 (General), in no event will the reductions set forth in Section 10.5.4(a) (Lack of Valid Claim), 10.5.4(b) (Biosimilar Product Competition), Section 0 (Third Party Licenses), and 10.5.4(d) (Compulsory Licenses) cause the royalties otherwise due to Novavax for any Licensed COVID-19 Product in a given Calendar Quarter in a given country during the applicable COVID-19 Royalty Term for such Licensed COVID-19 Product to be reduced by more than [***] of the amount that would otherwise be due in such Calendar Quarter for such Licensed COVID-19 Product in such country but for such reductions, except that if the Net Sales reduction under Section 10.5.4(b) (Biosimilar Product Competition) is [***], then the royalties due for such Licensed COVID-19 Product in such Calendar Quarter may be reduced by more than [***] of the amounts otherwise due for such Licensed COVID-19 Product in such Calendar Quarter but for such reductions. Any reductions not able to be made or taken in respect of royalties in a given Calendar Quarter as a result of this Section 10.5.5 (Cumulative Reductions Floor) shall be carried forward for reduction in respect of royalties in future Calendar Quarters until fully exhausted.
