Common use of Offsets, Credits and Reductions Clause in Contracts

Offsets, Credits and Reductions. Notwithstanding any right of Xxxxxxxx (i) pursuant to Article VIII to offset or credit certain amounts against royalties or TTPs owed by Xxxxxxxx to Palomar in this Agreement, or (ii) pursuant to Section 6.1(h) or 6.4 to otherwise reduce the amount of royalties or TTPs payable by Xxxxxxxx to Palomar, the aggregate credits, offsets and other reductions that Xxxxxxxx shall be permitted to apply in any given Calendar Quarter with respect to a particular product shall not exceed, in the case of royalties, if any, royalties in the amount of one percent (1%) of Net Sales during such Calendar Quarter with respect to such product, and in the case of TTPs, if any, TTPs in the amount of one percent (1%) of Net Sales during such Calendar Quarter with respect to such product. Credits, offsets and reductions not exhausted in any Calendar Quarter may be carried into future Calendar Quarters, subject to the foregoing sentence.

Offsets, Credits and Reductions. Notwithstanding any right of Xxxxxxxx Gxxxxxxx (i) pursuant to Article VIII to offset or credit certain amounts against royalties or TTPs owed by Xxxxxxxx Gxxxxxxx to Palomar in this Agreement, or (ii) pursuant to Section 6.1(h) or 6.4 to otherwise reduce the amount of royalties or TTPs payable by Xxxxxxxx Gxxxxxxx to Palomar, the aggregate credits, offsets and other reductions that Xxxxxxxx Gxxxxxxx shall be permitted to apply in any given Calendar Quarter with respect to a particular product shall not exceed, in the case of royalties, if any, royalties in the amount of one percent (1%) of Net Sales during such Calendar Quarter with respect to such product, and in the case of TTPs, if any, TTPs in the amount of one percent (1%) of Net Sales during such Calendar Quarter with respect to such product. Credits, offsets and reductions not exhausted in any Calendar Quarter may be carried into future Calendar Quarters, subject to the foregoing sentence.

Offsets, Credits and Reductions. Notwithstanding any right of Xxxxxxxx (i) pursuant to Article ARTICLE VIII to offset or credit certain amounts against royalties or TTPs owed by Xxxxxxxx to Palomar in this Agreement, or (ii) pursuant to Section 6.1(h) or 6.4 to otherwise reduce the amount of royalties or TTPs payable by Xxxxxxxx to Palomar, the aggregate credits, offsets and other reductions that Xxxxxxxx shall be permitted to apply in any given Calendar Quarter with respect to a particular product shall not exceed, in the case of royalties, if any, royalties in the amount of one percent (1%) of Net Sales during such Calendar Quarter with respect to such product, and in the case of TTPs, if any, TTPs in the amount of one percent (1%) of Net Sales during such Calendar Quarter with respect to such product. Credits, offsets and reductions not exhausted in any Calendar Quarter may be carried into future Calendar Quarters, subject to the foregoing sentence.