Option for Natural Compounds. Within […***…] following Firmenich’s […***…] for each Natural Compound that Firmenich selects under Section 3.1.4, Firmenich and Senomyx shall […***…] minimum annual royalty […***…] the amounts due under Section 7.4.1) based on […***…] (as compared to the […***…] that are […***…]) for such […***…] based on information contained in the […***…] (which shall contain […***…]), with the first such […***…] minimum annual royalty to be due (i) with respect to the […***…], commencing for the […***…] Royalty Year, and […***…] each year thereafter in accordance with any […***…] in […***…]; and (ii) with respect to the […***…], commencing on the […***…] Royalty Year following such approval and […***…] each year thereafter in accordance with any […***…] in […***…]. The […***…] with respect to any such […***…] minimum annual royalty shall be reflected in the minutes of the […***…] and shall be […***…]. In the event that […***…] the […***…] minimum annual royalties due for any Selected Natural Compound under this Section 7.4.2, […***…] in accordance with the […***…] Agreement.
Appears in 2 contracts
Samples: Collaborative Research, Development, Commercialization and License Agreement, Collaborative Research, Development, Commercialization and License Agreement (Senomyx Inc)
Option for Natural Compounds. Within In the event the Option is exercised under Section 8.6, during the Royalty Term, within […***…] following Firmenich’s […***…] for each Natural Compound that Firmenich selects under Section 3.1.4, Firmenich and Senomyx shall […***…] minimum annual royalty […***…] the amounts due under Section 7.4.1) based on […***…] (as compared to the […***…] that are […***…]) for such […***…] based on information contained in the […***…] (which shall contain […***…]), with the first such […***…] minimum annual royalty to be due (i) with respect to the […***…], ] commencing for the […***…] Royalty Year, and […***…] each year thereafter in accordance with any […***…] in […***…]; and (ii) with respect to the […***…], commencing on the […***…] Royalty Year following such approval and […***…] each year thereafter in accordance with any […***…] in […***…]. The […***…] with respect to any such […***…] minimum annual royalty shall be reflected in the minutes of the […***…] and shall be […***…]. In the event that […***…] the […***…] minimum annual royalties due for any Selected Natural Compound under this Section 7.4.2, the […***…] in accordance with the […***…] Agreement.
Appears in 2 contracts
Samples: Collaborative Research, Development, Commercialization and License Agreement (Senomyx Inc), Collaborative Research, Development, Commercialization and License Agreement (Senomyx Inc)
