Common use of 3(a) Clause in Contracts

3(a). If Verve has the right to terminate this License Agreement under Section 10.3(a), then Verve may, in lieu of exercising such termination right, elect by written notice to Acuitas before the end of such applicable cure period to have this License Agreement continue in full force and effect for the Term, provided that the following will apply: starting immediately after the end of such applicable cure period, Verve may reduce by [**] percent ([**]%) the Milestone Payments and the Royalty rates subject to the Minimum Royalty.