Royalty Floor definition

Royalty Floor has the meaning set forth in Section 5.7.4.

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Royalty Floor means [***];

Royalty Floor has the meaning set forth in Section 7.4.3(d).

Examples of Royalty Floor in a sentence

• Voyager will not voluntarily amend or terminate any Voyager In-License in a manner that would increase the royalty floor under Section 12.4.5 (Royalty Floor) or terminate rights sublicensed to Genzyme under this Agreement (or that would be sublicensed to Genzyme if Genzyme exercised an Option with respect to a Collaboration Product).

• Notwithstanding any multiple reductions that may be taken pursuant to this Article VII [***], in no event will the Royalty rates under this Agreement fall below, as applicable, the Royalty Rates of the Revised Royalty Floor set forth in Section 7.6.2(b), or [***] of the Royalty rates set forth in Section 7.4.1 in any Calendar Quarter pursuant to this Section 7.4.6. [***].

• Upon conclusion of such litigation, the Royalties due, above the Royalty Floor, on those Royalty Products sold during the period in which the litigation was on-going, shall be re-calculated having regard to the status of the Patent Rights licensed hereunder which are asserted and the funds held in escrow shall be distributed according to such re-calculation.

• If any of such amounts cannot be offset against royalties due with respect to a Product for any Calendar Quarter because they would result in royalties payable to RevMed being lower than the Royalty Floor, Sanofi shall have the right to carry forward and offset such excess amount against royalties or any other payments otherwise due to RevMed in subsequent Calendar Quarters up to a maximum reduction for each Quarter of [***]% of the amounts owed in respect of such subsequent Calendar Quarter.

• Section 8.2.7 (Royalty Floor) shall survive any termination or expiration of this Agreement with respect to royalties accruing prior to such termination or expiration.

More Definitions of Royalty Floor

Royalty Floor has the definition set forth in Section 11.7.3 (Cumulative Effect of Royalty Reductions).

Royalty Floor equals [†] percent ([†]%) of the Valid Claim Royalty or the Technology Royalty, as applicable.

Royalty Floor has the meaning set forth in Section 8.8.

Royalty Floor shall have the meaning set forth in Section 8.2.2(c).

Royalty Floor has the meaning set forth in Section 7.3.3(b). 1.119 “Royalty Term” means for each country, on a Product-by-Product basis, the period starting on the First Commercial Sale in such country and ending on the latest to occur of: (a) the expiration of the last-to-expire Valid Claim of the Licensed Patents Covering such Product in such country; (b) the expiration of any Regulatory Exclusivity for such Product in such country, and (c) ten (10) years from the date of such First Commercial Sale. 1.120 “SEC” has the meaning set forth in Section 9.5.2. 1.121 “Securities Act” means the Securities Act of 1933, as amended. 1.122 “Selling Party” has the meaning set forth in Section 1.87. 1.123 “Senior Executive” means [***]. 1.124 “Service Providers” means a Person retained by a Party, its Affiliate or Sublicensee, as applicable, to perform services on behalf of such Party, its Affiliate or Sublicensee, as applicable, including any CMOs and CROs. 1.125 “Single-Agent Product” means a Product containing a Compound as its sole active pharmaceutical ingredient.

Royalty Floor is defined in Section 7.3.3 (Royalty Reductions).

Royalty Floor is defined in Section 6.12.1(b).