Common use of Reduction Floor Clause in Contracts

Reduction Floor. In no circumstances will the royalties payable to XENCOR under Section 9.3.1 in any [***] be reduced to, as a result of Section 9.3.4 (a)–(c) below [***] of the royalties otherwise payable under Section 9.3.1 with respect to Net Sales of any Product in any Region. Licensee may not carry forward to subsequent [***] any deductions that it was not able to deduct as a result of the foregoing proviso.

Reduction Floor. In no circumstances will the royalties payable to XENCOR under Section 9.3.1 8.2.1 in any [***] be reduced to, as a result of Section 9.3.4 8.2.4 (a)–(c) below [***] of the royalties otherwise payable under Section 9.3.1 8.2.1 with respect to Net Sales of any Product in any Region. Licensee may not carry forward to subsequent [***] any deductions that it was not able to deduct as a result of the foregoing proviso.