Common use of Maximum Deduction Clause in Contracts

Maximum Deduction. Notwithstanding anything to the contrary herein, under no circumstances shall the combined effect of all reductions to the Royalties permitted under Sections 3.5.1 and 3.5.2, on a country-by-country and Licensed Product-by-Licensed Product basis, reduce the effective Royalties payable by Licensee to Pieris under this Agreement for any Calendar Quarter below [***] of the Royalties that would otherwise be payable pursuant to Section 3.4, as applicable, for such Licensed Product in such country.

Maximum Deduction. Notwithstanding anything to the contrary herein, under no circumstances shall the combined effect of all reductions to the Royalties permitted under Sections 3.5.1 4.1.1 and 3.5.24.1.2.(a), on a country-by-country and Licensed Product-by-Licensed Product basis, reduce the effective Royalties payable by Licensee Servier to Pieris under this Agreement for any Calendar Quarter [***] below [***] of the Royalties that would otherwise be payable pursuant to Section 3.42.6.6 and Section 3.6.4, as applicable, for such Licensed Product in such country.

Maximum Deduction. Notwithstanding anything to the contrary herein, under no circumstances shall the combined effect of all reductions to the Royalties permitted under Sections Section 3.5.1 and Section 3.5.2, on a country-by-country and Licensed Product-by-Licensed Product basis, reduce the effective Royalties payable by Licensee to Pieris under this Agreement for any Calendar Quarter below [***] percent ([***]%) of the Royalties that would otherwise be payable pursuant to Section 3.4, as applicable, for such Licensed Product in such country.