PM8003 Licensed Products Clause Samples

PM8003 Licensed Products. Following the PM8003 Option Exercise Date, (a) the applicable remaining milestone(s) that have not previously been triggered by another Licensed Product but are triggered by a PM8003 Licensed Product and royalty payments payable for such PM8003 Licensed Product under Sections 8.3 (Development and Approval Milestone Payments for Licensed Products), 8.4 (Sales Milestone Payments for Licensed Products) and 8.5 (Royalty Payments for Licensed Products) above shall all be reduced by [***] of the sums otherwise payable in respect of such PM8003 Licensed Product. For clarity, no milestones that have previously been triggered by another Licensed Product pursuant to Section 8.3 (Development and Approval Milestone Payments for Licensed Products) will be due a second time if such PM8003 Licensed Product achieves the relevant Milestone Event.