Credits Against Royalties Sample Clauses

Credits Against Royalties. Licensee shall be entitled ------------------------- to a credit against royalties payable hereunder in an amount equal to the payments made by Licensee under Sections 2.2 and 3.4 hereof.
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Credits Against Royalties. (a) Licensee shall be entitled to reduce the earned royalty payment due under Section 3.03 for a given Antigen by up to [*] percent ([*]%) by applying as a one-time credit against such royalty (i) the [*] paid for such Antigen for the calendar year for which earned royalties are then due and (ii) an amount equal to the cumulative payments previously made under Section 3.02 for the [*] ([*]) years immediately preceding the calendar year in which Licensee [*] in [*] of a particular Licensed Product for so long as is necessary to amortize such cumulative payments. Credits earned for one Antigen are not applicable to royalties due for other Antigens.
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Credits Against Royalties. (a) Licensee shall be entitled to reduce each earned royalty payment due under Section 3.03 for a given Antigen by up to fifty percent (50%) by applying as a one-time credit against such royalty (i) the minimum annual royalty paid for such Antigen for the calendar year for which earned royalties are then due and (ii) an amount equal to the cumulative payments previously made under Section 3.02 for the two (2) years immediately preceding the calendar year in which Licensee makes its first bona fide commercial sale in the United States, Japan or a country of the European Community of a particular Licensed Product for so long as is necessary to amortize such cumulative payments. Credits earned for one Antigen are not applicable to royalties due for other Antigens.
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Credits Against Royalties 
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Related to Credits Against Royalties

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