Schering Right to Negotiate Reductions in Royalties and Milestones Sample Clauses

Schering Right to Negotiate Reductions in Royalties and Milestones. The Parties agree that Collateral is solely responsible for all payments and royalties to Third Parties with respect to Collateral gaining access to a gene that may be acceptable to Schering. The Parties agree that the Royalties and Milestones negotiated in this Agreement, and the basis for Schering proceeding with this Agreement is the assumption that Collateral will obtain exclusive rights to a gene in the Field and Collateral will not grant any rights in the Field to Third Parties. (a) If Collateral obtains less than exclusive rights to a gene in the Field from a Third Party and, if Schering, in its sole discretion, decides to permit and proceed with such an arrangement Schering and Collateral will discuss reductions in the Milestone Payments and Royalties and other aspects of this Agreement. (b) If Collateral obtains less than exclusive rights to a gene in the Field from a Third Party, and, if Schering, in its sole discretion, decides to permit and proceed with such an arrangement, and if such Third Party sells a product in the Field, Schering and Collateral will in good faith negotiate reductions in the Milestone Payments and Royalties and other aspects of this Agreement to take into account such Third Party selling products in the Field. (c) If Collateral obtains less than exclusive rights to a gene in the Field from a Third Party and, if Schering, in its sole discretion, decides to permit and proceed with such an arrangements and/or such Third Party requires access to Collateral Base Technology, Developed Technology or Products, Schering and Collateral will in good faith negotiate reductions in Milestone Payments and Royalties and other aspects of this Agreement to take into account such Third Party participating in the business opportunity that is the subject matter of this Agreement.
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Related to Schering Right to Negotiate Reductions in Royalties and Milestones

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  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving (either itself or through the acts of a SUBLICENSEE) the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

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