REDUCTION OF ROYALTY. Lessee may request a reduction of royalty in accordance with the applicable statutes and regulations in effect on the date of application for the reduction.
REDUCTION OF ROYALTY. Lessee may request a reduction of royalty in accordance with the applicable statutes and regulations in effect on the date of application for the reduction. No reduction of royalty payable to ASRC shall be effected without ASRC's approval; and, likewise, no reduction of royalty payable to the State shall be effected without the State's approval.
REDUCTION OF ROYALTY. In the event that, or from and after the date on which, (a) […***…] exists in a country, and (b) […***…] exists in such country, the royalty rate payable to AstraZeneca by Flexion under Section 6.2 with respect to Net Sales of such Licensed Product in such country, shall be […***…]. Any royalties owed to AstraZeneca after such a reduction in the royalty rate shall be compensation for Flexion’s use of the Licensed Know-How in accordance with Section 3.3.
REDUCTION OF ROYALTY. At such time as the last patent on the Licensed Technology expires or as it is conclusively determined that no patent will issue on the Licensed Technology (all appeals concerning existing patent application have been exhausted without a patent being granted and no further patent applications can be filed on the Licensed Technology in the United States or elsewhere), whichever occurs later, the royalty specified in paragraph 3.02 shall be reduced to one-half percent of the Gross Sales Proceeds. Licensee shall, however, be entitled to no refund of royalties due payable prior to such time.
REDUCTION OF ROYALTY. The parties agree that the royalties payable by CIGI to MBI pursuant to Article III of the Royalty Agreement shall be reduced each month during the term of the Royalty Agreement as follows:
(a) The royalties payable for any calendar month under Article III of the Royalty Agreement shall be reduced by an amount equal to (x) one-half of the excess of (i) the closing price of the OSI common stock (as reported on the NASDAQ national market system on the day of exercise) for which options to purchase have been exercised by restaurant proprietors, minus (ii) the purchase price per share to be paid by the restaurant proprietors pursuant to the exercise of such stock options, multiplied by (y) 1 minus the effective federal income tax rate of OSI for the tax year in which such stock options are exercised.
(b) For purposes of calculating the monthly royalty reduction provided for in (a) above, the parties shall use an estimated effective tax rate as determined by OSI’s Chief Financial Officer. Within thirty (30) days of final determination of OSI’s effective federal income tax rate for such tax year the parties shall reconcile the royalty reduction for such tax year. In the event of under or over reduction the appropriate party shall pay the difference to the other party within ten (10) days of such reconciliation.
REDUCTION OF ROYALTY. In the event that, or from and after the date on which, (a) no Valid Claim of a NovaDel Patent covering the Licensed Product exists in a country in the Territory and (b) no regulatory exclusivity with respect to such Licensed Product exists in such country (whether as a result of expiration of the exclusivity period or otherwise), the royalty payment set forth in Section 6.3 with respect to the Licensed Product in such country shall be reduced by [***] percent ([***]%). In addition, if at any time during the Term the royalties owed by HANA to NovaDel pursuant to the NovaDel-Hana License are reduced, then (i) HANA shall promptly provide PAR with written notice of such reduction and (ii) HANA and PAR shall amend this Article 6 to reduce the royalties owed by PAR to HANA in the identical manner.
REDUCTION OF ROYALTY. (a) Notwithstanding any provision in this Article VI or elsewhere in this Agreement to the contrary, (I) in the event that there is no [*] in any given country within the Territory with respect to the [*] in any Licensed Product such that the [*] of such Licensed Product by a [*] in such country would not [*] of such [*], then the portion of total royalties that would otherwise be payable by CUBIST to BIOCHEMIE pursuant to Section 6.1 or Section 6.2, as applicable, (after giving effect to all other reductions of such total royalties pursuant to this Section 6.4) as a result of the Net Sales of such Licensed Product in such country shall be reduced by [*] and (II) in the event that there is no [*] in any given country within the Territory with respect to the [*] in any Licensed Product such that the [*] of such Licensed Product by a [*] in such country would not [*] of such [*], then the portion of total royalties that would otherwise be payable by CUBIST to BIOCHEMIE pursuant to Section 6.1 or Section 6.2, as applicable, (after giving effect to all other reductions of such total royalties pursuant to this Section 6.4) as a result of the Net Sales of such Licensed Product in such country shall be [*]. CUBIST agrees to give BIOCHEMIE [*] days notice prior to the [*] in any country in the Territory in which CUBIST intends to [*] and in which CUBIST is not aware that any [*].
(b) Notwithstanding any provision in this Article VI or elsewhere in this Agreement to the contrary, in the event that CUBIST [*] in order to * Confidential Treatment Requested: omitted portions filed with the Commission. [*] by CUBIST in any country within the Territory [*], then the portion of total royalties that would otherwise be payable by CUBIST to BIOCHEMIE pursuant to Section 6.1 or Section 6.2, as applicable, (after giving effect to all other reductions of such total royalties pursuant to this Section 6.4) as a result of the Net Sales of such Licensed Product in such country shall be reduced [*] by the [*] on account of the Net Sales of such Licensed Product in such country.
REDUCTION OF ROYALTY. If Company is required to pay royalties to Penn and third parties that, in the aggregate, exceed four percent (4%) of Net Sales (the “Total Royalty”) to commercialize a Licensed Product, the royalties due to Penn for such time, with respect to such a Licensed Product shall be reduced by two tenths of one percent (0.2%) for every one percent (1%) the aggregate royalty exceeds four percent (4%) of Net Sales. To clarify, Company shall pay to Penn a royalty of 2% — (0.2*(Total Royalty — 4%)) of the Net Sales. In no event shall the royalties due to Penn be reduced below one percent (1%) of Net Sales.
REDUCTION OF ROYALTY. In the event that, at the time a Licensed Product is sold in a country in the Territory, there is no Valid Claim Covering such Licensed Product, including the Manufacture, use or sale thereof in such country, then for the purposes of calculating the royalties owed based on the sale of such Licensed Product under Section (a) at that time, the royalties that would otherwise be due and payable based on such sale shall be [***]; provided however, that if a Generic Product is being Commercialized in such country, then the royalties shall be [***].
REDUCTION OF ROYALTY for a [***] Product. The royalty rates set forth in Section 8.4.1 applicable to a particular Product and particular country will be reduced in accordance with the table below in the event that a [***] the [***] of a [***] and the sales of the Product in any Calendar Quarter [***] by the applicable [***] (defined below) relative to the Calendar Quarter immediately preceding the [***] of the [***] and for so long as the [***] [***] apply in the applicable country. For purposes of this Section 8.4.3, the “ [***] ” for any particular Calendar Quarter (following first commercial sale of a [***] in such country) means the [***] (expressed as a percentage) obtained by [***] (A) the [***] obtained by [***] the [***] of the Product in such country for such applicable Calendar Quarter from the [***] of the [***] in such [***] for the Calendar Quarter immediately prior to [***] of the [***] in such [***] by (B) the [***] [***] of the [***] in such [***] for the Calendar Quarter prior to [***] of the [***] in such [***] . Once the applicable [***] has been attained for a particular country for a Calendar Quarter, then the royalty rates set forth in Section 8.4.1. for the Product in such applicable country will be [***] in accordance with the table below commencing on the next Calendar Quarter for so long as the applicable [***] continues to [***] .. Notwithstanding anything in this Section 8.4.3, no [***] will be triggered under this Section 8.4.3 for a [***] which [***] its Affiliates or sublicensees either [***] or [***] has [***] a [***] to [***] the [***] , or [***] , its [***] or [***] have any [***] in the [***] of such [***] .. In the event that the royalty obligation to Micromet is [***] by [***] of this Section 8.4, then the [***] will be [***] as described below. *** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. Confidential Treatment Requested Under 17 C.F.R. §§ 200.80(b)(4), and 240.24b-2 [***] [***] in [***] Applicable [***] Less than [***] % [***] [***] % Greater than or equal to [***] % but less than [***] % [***] % [***] % Greater than or equal to [***] % but less than [***] % [***] % [***] %
