Know-How Reduction. In the event that, during the Royalty Term for any Related Licensed Product and country, no Covering Claim exists for the corresponding Licensed Cell Product in such country, then the royalties payable under Section 4.4(a) on Net Sales of such Licensed Cell Product in such country will be reduced by […***…] for the remainder of such Royalty Term. Such royalty reduction will be calculated by determining the portion of total Net Sales of the relevant Related Licensed Product in a Calendar Quarter that is attributable to the country in which such reduction applies, and by determining the total royalties for the Territory for such Related Licensed Product without reduction, and then reducing by […***…] the applicable portion (based on Net Sales) of such total royalties attributable to the country in which such reduction applies.
Appears in 2 contracts
Sources: License Agreement (Poseida Therapeutics, Inc.), License Agreement (Poseida Therapeutics, Inc.)