Excess U.S Sample Clauses

Excess U.S. Costs. Notwithstanding the foregoing and solely with respect to a Calendar Quarter for which Sanofi reports a Net Loss with respect to an Optioned Product, in the event Allowable Expenses constituting such Net Loss for such Calendar Quarter exceed [*] of the Allowable Expenses set forth in the U.S. Budget for such Calendar Quarter (a “U.S. Budget Excess”), solely if Principia is otherwise current on its payments owed under this Exhibit K-1 (except for any Development Budget Excess amount that may be owing at such time), Principia will not be required to pay Sanofi Principia’s [*] share of such U.S. Budget Excess (to the extent such amount has not yet been paid), and instead Sanofi will bear all of such U.S. Budget Excess, provided that Sanofi will have the right, as of the date such U.S. Budget Excess is reported to Principia, to credit an amount equal to Principia’s [*] share of such U.S. Budget Excess (the “Sanofi Commercial Credit”), plus interest in accordance with Section 5.9 of this Agreement, against up to [*] of the next milestones, royalty and profit share payments to Principia with respect to any Product under Sections 5.3, 5.4 and 5.5 of this Agreement and Section 5 of this Exhibit K-1. [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.