Payment Reduction. Zealand may deduct from the Royalties and Revenue Share payments due to Protagonist [*] of the amount of any payments actually paid to any Third Party Licensors (“Third Party Payments”) based on a claim by the Third Party Licensor that it has patent rights that claim or cover a Selected DRP or Therapeutic Peptide included in a Product or a method of its production to the extent directly relating to use of Protagonist Background IP or Protagonist Research IP; provided that such deductions shall not exceed [*] of the Royalties and Revenue Share amount(s) otherwise payable to Protagonist in such Quarter with respect to such Product, with the balance of any unapplied amount deductible (subject to the same maximum payment reductions) from Revenue Share or Royalties due to Protagonist in subsequent Quarters.
Appears in 3 contracts
Sources: Research Collaboration and License Agreement, Research Collaboration and License Agreement (Protagonist Therapeutics, Inc), Research Collaboration and License Agreement (Protagonist Therapeutics, Inc)