Common use of Reduced Royalty Obligations Clause in Contracts

Reduced Royalty Obligations. The obligation of NIBRI to pay royalties to Myogen under this License Agreement shall be reduced upon the occurrence of the following events: (a) In the event of Myogen's material breach of this Agreement, which shall remain uncured one hundred eighty (180) days after written notice by NIBRI to Myogen of the same, NIBRI may, at its election, pay [/\#/\] of the royalties thereafter owed to Myogen under this Article IV into a third party escrow account to be held pending resolution of the dispute between NIBRI and Myogen by a court of competent jurisdiction. NIBRI may satisfy any final, non-appealable judgment awarded by such court from the then-current balance of the escrow account, and any excess of some or all of the escrow account will be promptly refunded to Myogen; provided that this Section 4.5(a) will not limit any compensatory or punitive damages that are recoverable at law or equity by NIBRI for Myogen's breach hereof. (b) In the event that no Live Claim exists covering the Development Candidate NIBRI's royalty payment obligations under this Agreement in such jurisdiction shall be reduced to [/\#/\] should a Third Party generic compound enter the market in a particular jurisdiction with respect to a such Development Candidate. (c) All Third Party royalties and license fees owed by Myogen to any Myogen licensors under agreements with such Third Party or Third Parties with respect to a Development Candidate licensed hereunder shall be Myogen's responsibility, subject to the provisions of Section 9.3(b) hereof. In the event that NIBRI or an Affiliate thereof is required to pay Third Party royalties or license fees [/\#/\]CONFIDENTIAL TREATMENT REQUESTED in order to use the Myogen Targets licensed to NIBRI hereunder, NIBRI's obligation to pay royalties to Myogen shall be reduced by [/\#/\] of the amounts actually paid by NIBRI or its Affiliate to such Third Party; provided, however, that NIBRI's payment obligation shall in any case not be reduced more than [/\#/\] of what otherwise would be owed to Myogen hereunder.

Reduced Royalty Obligations. The obligation of NIBRI to pay royalties to Myogen under this License Agreement shall be reduced upon the occurrence of the following events: (a) In the event of Myogen's ’s material breach of this Agreement, which shall remain uncured one hundred eighty (180) days after written notice by NIBRI to Myogen of the same, NIBRI may, at its election, pay [/\#/\..**..] of the royalties thereafter owed to Myogen under this Article IV into a third party escrow account to be held pending resolution of the dispute between NIBRI and Myogen by a court of competent jurisdiction. NIBRI may satisfy any final, non-appealable judgment awarded by such court from the then-current balance of the escrow account, and any excess of some or all of the escrow account will be promptly refunded to Myogen; provided that this Section 4.5(a) will not limit any compensatory or punitive damages that are recoverable at law or equity by NIBRI for Myogen's ’s breach hereof. (b) In the event that no Live Claim exists in a particular country covering the Development Candidate NIBRI's ’s royalty payment obligations under this Agreement in such jurisdiction shall be reduced to [/\#/\..**..] should a Third Party generic compound enter the market in a such particular jurisdiction with respect to a such Development Candidate. (c) All Third Party royalties and license fees owed by Myogen to any Myogen licensors under agreements with such Third Party or Third Parties with respect to a Development Candidate licensed hereunder shall be Myogen's ’s responsibility, subject to the provisions of Section 9.3(b) hereof. In the event that NIBRI or an Affiliate thereof is required to pay Third Party royalties or license fees [/\#/\]CONFIDENTIAL TREATMENT REQUESTED in order to use practice the Myogen Targets licensed to NIBRI hereunderLicensed Patents for applications in the Cardiac Field, NIBRI's ’s obligation to pay royalties to Myogen shall be reduced by [/\#/\..**..] of the amounts actually paid by NIBRI or its Affiliate to such Third Party; provided, however, that NIBRI's ’s payment obligation shall in any case not be reduced more than [/\#/\..**..] of what otherwise would be owed to Myogen hereunder.

Reduced Royalty Obligations. The obligation of NIBRI to pay royalties to Myogen under this License Agreement shall be reduced upon the occurrence of the following events: (a) In the event of Myogen's ’s material breach of this Agreement, which shall remain uncured one hundred eighty (180) days after written notice by NIBRI to Myogen of the same, NIBRI may, at its election, pay [/\#/\..**..] of the royalties thereafter owed to Myogen under this Article IV into a third party escrow account to be held pending resolution of the dispute between NIBRI and Myogen by a court of competent jurisdiction. NIBRI may satisfy any final, non-appealable judgment awarded by such court from the then-current balance of the escrow account, and any excess of some or all of the escrow account will be promptly refunded to Myogen; provided that this Section 4.5(a) will not limit any compensatory or punitive damages that are recoverable at law or equity by NIBRI for Myogen's ’s breach hereof. (b) In the event that no Live Claim in a particular country exists covering the Development Candidate NIBRI's ’s royalty payment obligations under this Agreement in [..**..] Confidential Treatment Requested such jurisdiction shall be reduced to [/\#/\..**..] should a Third Party generic compound enter the market in a such particular jurisdiction with respect to a such Development Candidate. (c) All Third Party royalties and license fees owed by Myogen to any Myogen licensors under agreements with such Third Party or Third Parties with respect to a Development Candidate licensed hereunder shall be Myogen's ’s responsibility, subject to the provisions of Section 9.3(b) hereof. In the event that NIBRI or an Affiliate thereof is required to pay Third Party royalties or license fees [/\#/\]CONFIDENTIAL TREATMENT REQUESTED in order to use practice the Myogen Targets licensed to NIBRI hereunderLicense Patents for applications in the Cardiac Field, NIBRI's ’s obligation to pay royalties to Myogen shall be reduced by [/\#/\..**..] of the amounts actually paid by NIBRI or its Affiliate to such Third Party; provided, however, that NIBRI's ’s payment obligation shall in any case not be reduced more than [/\#/\..**..] of what otherwise would be owed to Myogen hereunder.