Common use of Cumulative Reductions Floor Clause in Contracts

Cumulative Reductions Floor. In no event will the amount of Royalties due to Passage for a Licensed Product in any given Calendar Quarter be reduced as a result of the reductions set forth in Sections 5.4.2(c) and 5.4.2(d) (cumulatively) by more than [*] of the amount that otherwise would have been due and payable to Passage in such Calendar Quarter for such Licensed Product.

Appears in 3 contracts

Samples: Exclusive License Agreement (Passage BIO, Inc.), Exclusive License Agreement (Passage BIO, Inc.), Exclusive License Agreement (Passage BIO, Inc.)

AutoNDA by SimpleDocs

Cumulative Reductions Floor. In no event will the amount of Royalties royalties due to Passage Day One for a Licensed Product in any given Calendar Quarter be reduced as a result of the reductions set forth in Sections 5.4.2(c6.6.2(a), (b) and 5.4.2(d(c) (cumulatively) by more to an amount that is less than [*] of the amount that otherwise would have been due and payable to Passage Day One in such Calendar Quarter for such Licensed ProductProduct without such reductions.

Appears in 1 contract

Samples: Exclusive License Agreement (Day One Biopharmaceuticals, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!