Provisions Regarding. [****]. After the Effective Date, PDL will use Diligent Efforts to renegotiate the terms of that certain License Agreement between [****] to extend the diligence deadline for [****] (as defined in the [****]) to [****]. If, as a result of such renegotiations, the royalty rate payable by PDL on sales of licensed antibody products [****] (and provided the calculation of such royalty remains subject to the same offset provisions as included in the form of the [****] as of the Effective Date, then PDL may not charge as Third Party License Fees hereunder any royalty amount paid under the [****] in [****].
Appears in 3 contracts
Sources: Collaboration Agreement (Biotech Spinco, Inc.), Collaboration Agreement (Facet Biotech Corp), Collaboration Agreement (Protein Design Labs Inc/De)